RECOURSE AGAINST THIRD PARTIES Sample Clauses

RECOURSE AGAINST THIRD PARTIES. (A) Any decisions as to whether the 1992 Fund is to take recourse action against any third parties, and as to the conduct of any such action, including any out-of-court settlement, are in the absolute discretion of the 1992 Fund. (B) Without prejudice to Clause V(A) above – (1) payment by the Participating Owner under this Agreement is made on the condition that he shall, in respect of any amount paid as Indemnification (or as payment on account thereof), acquire by subrogation any rights of recourse that the 1992 Fund may enjoy against third parties, to the extent of the Participating Owner’s interest in the benefit of any recoveries from such parties in accordance with this Agreement; (2) the 1992 Fund may consult with the Participating Owner and/or his Club in relation to any recourse action in which they are actual or potential claimants; (3) nothing in this Agreement shall prevent the 1992 Fund, the Owner and the Club from agreeing on any arrangements relating to such action as may be considered appropriate in the particular case, including any terms as to the apportionment of costs of funding such action, or as to the allocation of any recoveries made. (C) For the purposes of this Agreement, a Recourse Conclusion Notice is notice to the Participating Owner that a final conclusion has been reached in relation to all and any recourse action taken or contemplated by the 1992 Fund against any third parties in respect of the Incident. Such a conclusion may include a decision by the 1992 Fund not to take a recourse action, or to discontinue any such action already commenced. (D) Payment by the Participating Owner under this Agreement is made on the conditions that – (1) if the 1992 Fund decides to take recourse action against any third party it will, unless otherwise agreed, either (a) seek recovery of compensation it has paid or expects to pay without deduction of any sums paid under this Agreement by the Participating Owner, or (b) on request, execute documentation as described in Clause V(D)(2) below; (2) if the 1992 Fund decides not to take a recourse action (or to discontinue any such action already commenced) against any third party in respect of the incident, the 1992 Fund will, on request, execute such reasonable documentation as may be required to transfer (or affirm the transfer) to the Participating Owner and/or his Club, by subrogation, assignment or otherwise, any rights of recourse which the 1992 Fund may have against that third party, to the...

RECOURSE AGAINST THIRD PARTIES. The Purchaser shall use all reasonable efforts to pursue any and all rights to reimbursement, recovery or indemnification with respect to all Losses for which it is or may be entitled to indemnification under this Agreement from the Sellers, pursuant to any contract, insurance policy or arrangement with any Person.

RECOURSE AGAINST THIRD PARTIES. Each Party shall, to the maximum extent then available, seek recourse against Third Parties in respect of any matter for which it may be entitled to indemnity under this Agreement prior to seeking recourse under this Agreement.

RECOURSE AGAINST THIRD PARTIES. It is expressly understood and agreed by the parties hereto that (i) this Agreement is entered into by the Fund and the Servicer in the exercise of its corporate or limited liability company powers and authority, (ii) under no circumstances shall any member, manager, shareholder, principal, employee or officer of the Fund or the Servicer be personally liable for and obligations of the Fund or the Servicer under this Agreement.

RECOURSE AGAINST THIRD PARTIES. The amount of any claim for indemnification by any Purchaser Indemnified Party pursuant to this Article IX shall be reduced to reflect any amounts recoverable by and paid to any Purchaser Indemnified Party from any third party (other than an insurer, which shall be governed by Section 9.6) with respect to the matter giving rise to such claim (net of reasonable out-of-pocket expenses for collection); provided, that in no event shall any indemnification payment be delayed in anticipation of the receipt of any such amounts. To the extent that Purchaser or any of its Affiliates (including the Surviving Corporation and the Company Subsidiaries, following the Effective Time) receives any amount from a third party with respect to a matter for which it has previously received payment in indemnification pursuant to this Article IX, Purchaser shall, as soon as reasonably practicable after the receipt of such amounts, reimburse to the Escrow Agent (if such reimbursement is to be delivered during the Escrow Period) or to the Equityholder Representative (if such reimbursement is to be delivered after the Escrow Period), for any prior indemnification payment (up to the amount of such recovered amounts and net of out-of-pocket expenses for collection).

RECOURSE AGAINST THIRD PARTIES. If, within the one (1) year period following the payment in full by Sellers of Purchaser's claim pursuant to this Section 8, the Purchaser or the Company become aware of any right or cause of action against a third party in respect thereof, it shall notify the Sellers within a period of not more than ten (10) Business Days. Thereafter, the provisions of Section 8.5.1 shall apply mutatis mutandis to such right or cause of action and the Sellers shall be entitled to the lesser of the amount originally paid by it to the Purchaser in respect of the matter in question and the amount recovered from the third party.