Common use of NO LIMITATION ON OTHER RIGHTS OF RECOVERY Clause in Contracts

NO LIMITATION ON OTHER RIGHTS OF RECOVERY. The indemnification set forth in this Article shall be in addition to any other obligations or liabilities of an indemnifying person to an indemnified person at common law or otherwise. The provisions of this Article shall not eliminate or otherwise limit the right of any indemnified person or any other person to seek to recover contribution, damages or otherwise enforce its rights against the indemnifying person or any other person without regard to the provisions of this Article. If at any time all or any part of any indemnification payment hereunder is or must be rescinded or returned to the person making such indemnity payment for any reason whatsoever (including, without limitation, the insolvency, bankruptcy or reorganization of any person) the indemnification obligations of the person making such payment shall be reinstated with respect to such payment so rescinded or returned as though such payment had never been made or received.

Appears in 3 contracts

Samples: Purchase Agreement (Forest Oil Corp), Purchase Agreement (Saxon Petroleum Inc), Purchase Agreement (Advanced NMR Systems Inc)

AutoNDA by SimpleDocs

NO LIMITATION ON OTHER RIGHTS OF RECOVERY. The indemnification set forth in this Article VII shall be in addition to any other obligations or liabilities of an indemnifying person to an indemnified person Indemnified Person at common law or otherwise. The provisions of this Article VII shall not eliminate or otherwise limit the right of any indemnified person or any other person Indemnified Person to seek to recover contribution, damages or otherwise enforce its rights against the indemnifying person or any other person without regard to the provisions of this ArticleArticle VII. If at any time all or any part of any indemnification payment hereunder is or must be rescinded or returned to the person making such indemnity payment for any reason whatsoever (including, without limitation, the insolvency, bankruptcy or reorganization of any person) the indemnification obligations of the person making such payment shall be reinstated with respect to such payment so rescinded or returned as though such payment had never been made or received.

Appears in 2 contracts

Samples: Stock Purchase Agreement (Marx Moses), Stock Purchase Agreement (Marx Moses)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!