Common use of Joint and Several Liability; Insolvency Clause in Contracts

Joint and Several Liability; Insolvency. The obligations pursuant to paragraph 22 of this Agreement are joint and several as to each of the Category A Releasees. In the event of default, insolvency or a declaration of bankruptcy by any one or more of the Category A Releasees, the remainder of the Category A Releasees, jointly and severally, shall continue to be obligated to fulfill all the provisions and obligations of paragraph 22 of this Agreement unless the Agreement is properly rescinded pursuant to paragraphs 23 or 28 of this Agreement.

Joint and Several Liability; Insolvency. The obligations of Xxxxxx pursuant to paragraph paragraphs 22 and 25-31 of this Agreement are joint and several as to each of the Category A Releasees. In the event of default, insolvency or a declaration of bankruptcy by any one or more of the Category A Releasees, the remainder of the Category A Releasees, jointly and severally, shall continue to be obligated to fulfill all the provisions and obligations of paragraph 22 of this Agreement unless the Agreement is properly rescinded pursuant to paragraphs 23 or 28 and 26-32 of this Agreement.