Common use of RECOURSE AGAINST THIRD PARTIES Clause in Contracts

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 extent of any interest which the Participating Owner and/or his Club may have in recovering from that party any amounts paid under this Agreement; (3) if, after it has been paid, the 1992 Fund for any reason recovers any sums from any third party, the 1992 Fund will account to the Participating Owner for such sums after deduction of - (i) any costs incurred by the 1992 Fund in recovering the said sums; and (ii) an amount equal to the compensation which the 1992 Fund has paid or expects to pay for Pollution Damage in respect of the Incident, insofar as this exceeds the amount paid under this Agreement by the Participating Owner. (E) Save where the 1992 Fund has been notified to the contrary, the Club insuring the Participating Owner shall be deemed to be authorised to act on his behalf in receiving notice under Xxxxxx X(C) above; in receiving any sums payable to the Participating Owner under Xxxxxx X(D) above; and in agreeing all and any other matters relating to the operation of this Clause V.

RECOURSE AGAINST THIRD PARTIES. (A) Any decisions as to whether the 1992 Supplementary 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 Supplementary 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 Supplementary 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 Supplementary 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 Supplementary 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 Supplementary Fund against any third parties in respect of the Incident. Such a conclusion may include a decision by the 1992 Supplementary 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 Supplementary 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 Supplementary 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 Supplementary 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 Supplementary Fund may have against that third party, to the extent of any interest which the Participating Owner and/or his Club may have in recovering from that party any amounts paid under this Agreement; (3) if, after it payment by the Participating Owner has been paidmade, the 1992 Supplementary Fund for any reason recovers any sums from any third party, 50% of such recoveries (net of the 1992 Fund will account to the Participating Owner for such sums after deduction of - (i) any costs incurred in making them) shall be retained by the 1992 Supplementary Fund in recovering and the said sums; and (ii) an amount equal remaining 50% shall be paid by the Supplementary Fund to the compensation which the 1992 Fund has paid or expects to pay for Pollution Damage in respect of the Incident, insofar as this exceeds the amount paid under this Agreement by the Participating Owner. (E) Save where the 1992 Supplementary Fund has been notified to the contrary, the Club insuring the Participating Owner shall be deemed to be authorised to act on his behalf in receiving notice under Xxxxxx X(C) above; in receiving any sums payable to the Participating Owner under Xxxxxx X(DClause V(D) above; and in agreeing all and any other matters relating to the operation of this Clause V.

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 Unless otherwise agreed, payment of Indemnification to Clause V(A) above – (1) payment by the 1992 Fund shall be postponed until such time as the 1992 Fund gives notice to the Participating Owner under this Agreement is made on that a final conclusion has been reached in relation to all and any recourse action taken or contemplated by the condition that he shall, 1992 Fund against any third parties in respect of the Incident. For these purposes a final conclusion may include a decision by the 1992 Fund not to take such action, or to discontinue any amount paid as Indemnification such action already commenced. (or as payment on account thereof), acquire by subrogation C) Paragraph (B) above shall not prevent the 1992 Fund from commencing proceedings against the Participating Owner and the Club in order to protect its rights hereunder from becoming time-barred. The Participating Owner and his Club agree to grant to the 1992 Fund any rights extension of recourse that time which the 1992 Fund may enjoy against third parties, to the extent reasonably require in respect of the Participating Owner’s interest commencement or conduct of such proceedings in the benefit circumstances where recourse action is ongoing and/or no notice of any recoveries from such parties final conclusion has been given in accordance with this Agreement;Paragraph (B) above. (2D) Without prejudice to Paragraph (A) above, 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 . 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 the costs of funding such action, or as to the allocation of any recoveries made. (CE) 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 If the 1992 Fund decides not to take recourse action against any third party it willor, unless otherwise agreedafter such action has been taken, either (a) seek recovery of compensation it has paid or expects decides not to pay without deduction of any sums paid under this Agreement by pursue the Participating Owneraction, or (b) Indemnification is payable on request, execute documentation as described in Clause V(D)(2) below; (2) if condition that 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, will 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 it may have against that third partyparties, to the extent of any interest which the Participating Owner and/or his Club they may have in recovering recoveries from that party any amounts such parties by virtue of Indemnification paid under this Agreement;. (3F) In the event of the Participating Owner agreeing to pay Indemnification before the 1992 Fund has given notice as mentioned in Paragraph (B) above, such payment shall (unless otherwise agreed) be subject to the condition that it is to be treated as an interest-free loan repayable on demand until such notice is given, whereupon it shall cease to be repayable. (G) Indemnification is also paid on the condition that if, after it has been paid, the 1992 Fund for any reason recovers any sums from any third party, the 1992 Fund will account to the Participating Owner for such sums after deduction recoveries (net of - (i) any costs incurred by the 1992 Fund in recovering making them), so as to reimburse the said sums; and (ii) an amount equal to the compensation which the 1992 Fund has Participating Owner any Indemnification paid or expects to pay for Pollution Damage by him in respect excess of the Incident, insofar as this exceeds the amount paid under this Agreement by the Participating Ownerwhich would have been payable in accordance with Clause IV(E) above. (EH) Save where the 1992 Fund has been notified to the contrary, the Club insuring the Participating Owner shall be deemed to be authorised to act on his behalf in receiving notice from the 1992 Fund under Xxxxxx X(CParagraph (B) above; in granting any time extension or extensions under Paragraph (C) above; in receiving any sums payable reimbursement pursuant to the Participating Owner under Xxxxxx X(DParagraph (G) above; and in agreeing all and any other matters relating to the operation of this Clause V.

RECOURSE AGAINST THIRD PARTIES. (A) Any decisions as to whether the 1992 Supplementary 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 Supplementary 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 Supplementary 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 Supplementary 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 Supplementary 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 Supplementary Fund against any third parties in respect of the Incident. Such a conclusion may include a decision by the 1992 Supplementary 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 Supplementary 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 Supplementary 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 Supplementary 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 Supplementary Fund may have against that third party, to the extent of any interest which the Participating Owner and/or his Club may have in recovering from that party any amounts paid under this Agreement; (3) if, after it payment by the Participating Owner has been paidmade, the 1992 Supplementary Fund for any reason recovers any sums from any third party, 50% of such recoveries (net of the 1992 Fund will account to the Participating Owner for such sums after deduction of - (i) any costs incurred in making them) shall be retained by the 1992 Supplementary Fund in recovering and the said sums; and (ii) an amount equal remaining 50% shall be paid by the Supplementary Fund to the compensation which the 1992 Fund has paid or expects to pay for Pollution Damage in respect of the Incident, insofar as this exceeds the amount paid under this Agreement by the Participating Owner. (E) Save where the 1992 Supplementary Fund has been notified to the contrary, the Club insuring the Participating Owner shall be deemed to be authorised to act on his behalf in receiving notice under Xxxxxx X(CClause V(C) above; in receiving any sums payable to the Participating Owner under Xxxxxx X(DClause V(D) above; and in agreeing all and any other matters relating to the operation of this Clause V.

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 extent of any interest which the Participating Owner and/or his Club may have in recovering from that party any amounts paid under this Agreement; (3) if, after it has been paid, the 1992 Fund for any reason recovers any sums from any third party, the 1992 Fund will account to the Participating Owner for such sums after deduction of - (i) any costs incurred by the 1992 Fund in recovering the said sums; and (ii) an amount equal to the compensation which the 1992 Fund has paid or expects to pay for Pollution Damage in respect of the Incident, insofar as this exceeds the amount paid under this Agreement by the Participating Owner. (E) Save where the 1992 Fund has been notified to the contrary, the Club insuring the Participating Owner shall be deemed to be authorised to act on his behalf in receiving notice under Xxxxxx X(CClause V(C) above; in receiving any sums payable to the Participating Owner under Xxxxxx X(DClause V(D) above; and in agreeing all and any other matters relating to the operation of this Clause V.

RECOURSE AGAINST THIRD PARTIES. (A) Any decisions as to whether the 1992 Supplementary 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 Supplementary Fund. (B) Without prejudice to Clause V(A) above –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 Supplementary 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 Supplementary 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 Supplementary 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 Supplementary Fund against any third parties in respect of the Incident. Such a conclusion may include a decision by the 1992 Supplementary 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 –that (1) if the 1992 Supplementary 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 Supplementary 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 Supplementary 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 Supplementary Fund may have against that third party, to the extent of any interest which the Participating Owner and/or his Club may have in recovering from that party any amounts paid under this Agreement; (3) if, after it payment by the Participating Owner has been paidmade, the 1992 Supplementary Fund for any reason recovers any sums from any third party, 50% of such recoveries (net of the 1992 Fund will account to the Participating Owner for such sums after deduction of - (i) any costs incurred in making them) shall be retained by the 1992 Supplementary Fund in recovering and the said sums; and (ii) an amount equal remaining 50% shall be paid by the Supplementary Fund to the compensation which the 1992 Fund has paid or expects to pay for Pollution Damage in respect of the Incident, insofar as this exceeds the amount paid under this Agreement by the Participating Owner. (E) Save where the 1992 Supplementary Fund has been notified to the contrary, the Club insuring the Participating Owner shall be deemed to be authorised to act on his behalf in receiving notice under Xxxxxx X(CClause V(C) above; in receiving any sums payable to the Participating Owner under Xxxxxx X(DClause V(D) above; and in agreeing all and any other matters relating to the operation of this Clause V.

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 –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 –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 extent of any interest which the Participating Owner and/or his Club may have in recovering from that party any amounts paid under this Agreement; (3) if, after it has been paid, the 1992 Fund for any reason recovers any sums from any third party, the 1992 Fund will account to the Participating Owner for such sums after deduction of - (i) any costs incurred by the 1992 Fund in recovering the said sums; and (ii) an amount equal to the compensation which the 1992 Fund has paid or expects to pay for Pollution Damage in respect of the Incident, insofar as this exceeds the amount paid under this Agreement by the Participating Owner. (E) Save where the 1992 Fund has been notified to the contrary, the Club insuring the Participating Owner shall be deemed to be authorised to act on his behalf in receiving notice under Xxxxxx X(CClause V(C) above; in receiving any sums payable to the Participating Owner under Xxxxxx X(DClause V(D) above; and in agreeing all and any other matters relating to the operation of this Clause V.

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 tha t 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 extent of any interest which the Participating Owner and/or his Club may have in recovering from that party any amounts paid under this Agreement; (3) if, after it has been paid, the 1992 Fund for any reason recovers any sums from any third party, the 1992 Fund will account to the Participating Owner for such sums after deduction of - (i) any costs incurred by the 1992 Fund in recovering the said sums; and (ii) an amount equal to the compensation which the 1992 Fund has paid or expects to pay for Pollution Damage in respect of the Incident, insofar as this exceeds the amount paid under this Agreement by the Participating Owner. (E) Save where the 1992 Fund has been notified to the contrary, the Club insuring the Participating Owner shall be deemed to be authorised to act on his behalf in receiving notice under Xxxxxx X(C) above; in receiving any sums payable to the Participating Owner under Xxxxxx X(DX (D) above; and in agreeing all and any other matters relating to the operation of this Clause V.

RECOURSE AGAINST THIRD PARTIES. (A) 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 B. Unless otherwise agreed, payment of Indemnification to Clause V(A) above – (1) payment by the 1992 Fund shall be postponed until such time as the 1992 Fund gives notice to the Participating Owner under this Agreement is made on that a final conclusion has been reached in relation to all and any recourse action taken or contemplated by the condition that he shall, 1992 Fund against any third parties in respect of the Incident. For these purposes a final conclusion may include a decision by the 1992 Fund not to take such action, or to discontinue any amount paid as Indemnification (or as payment on account thereof), acquire by subrogation such action already commenced. C. Paragraph B. above shall not prevent the 1992 Fund from commencing proceedings against the Participating Owner and the Club in order to protect its rights hereunder from becoming time-barred. The Participating Owner and his Club agree to grant to the 1992 Fund any rights extension of recourse that time which the 1992 Fund may enjoy against third parties, to the extent reasonably require in respect of the Participating Owner’s interest commencement or conduct of such proceedings in the benefit circumstances where recourse action is ongoing and/or no notice of any recoveries from such parties final conclusion has been given in accordance with this Agreement;Paragraph B. above. (2) D. Without prejudice to Paragraph A. above, 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 . 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 the 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 E. If the 1992 Fund decides not to take recourse action against any third party it willor, unless otherwise agreedafter such action has been taken, either (a) seek recovery of compensation it has paid or expects decides not to pay without deduction of any sums paid under this Agreement by pursue the Participating Owneraction, or (b) Indemnification is payable on request, execute documentation as described in Clause V(D)(2) below; (2) if condition that 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, will 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 it may have against that third partyparties, to the extent of any interest which the Participating Owner and/or his Club they may have in recovering recoveries from that party any amounts such parties by virtue of Indemnification paid under this Agreement;. F. In the event of the Participating Owner agreeing to pay Indemnification before the 1992 Fund has given notice as mentioned in Paragraph B. above, such payment shall (3unless otherwise agreed) be subject to the condition that it is to be treated as an interest-free loan repayable on demand until such notice is given, whereupon it shall cease to be repayable. G. Indemnification is also paid on the condition that if, after it has been paid, the 1992 Fund for any reason recovers any sums from any third party, the 1992 Fund will account to the Participating Owner for such sums after deduction recoveries (net of - (i) any costs incurred by the 1992 Fund in recovering making them), so as to reimburse the said sums; and (ii) an amount equal to the compensation which the 1992 Fund has Participating Owner any Indemnification paid or expects to pay for Pollution Damage by him in respect excess of the Incident, insofar as this exceeds the amount paid under this Agreement by the Participating Ownerwhich would have been payable in accordance with Clause IV E. above. (E) H. Save where the 1992 Fund has been notified to the contrary, the Club insuring the Participating Owner shall be deemed to be authorised to act on his behalf in receiving notice from the 1992 Fund under Xxxxxx X(C) Paragraph B. above; in granting any time extension or extensions under Paragraph C. above; in receiving any sums payable reimbursement pursuant to the Participating Owner under Xxxxxx X(D) Paragraph G. above; and in agreeing all and any other matters relating to the operation of this Clause V.

RECOURSE AGAINST THIRD PARTIES. (A) Any decisions as to whether the 1992 Supplementary 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 Supplementary 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 Supplementary 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 Supplementary 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 Supplementary 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 Supplementary Fund against any third parties in respect of the Incident. Such a conclusion may include a decision by the 1992 Supplementary 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 Supplementary 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 Supplementary 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 Supplementary 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 Supplementary Fund may have against that third party, to the extent of any interest which the Participating Owner and/or his Club may have in recovering from that party any amounts paid under this Agreement; (3) if, after it payment by the Participating Owner has been paidmade, the 1992 Supplementary Fund for any reason recovers any sums from any third party, 50% of such recoveries (net of the 1992 Fund will account to the Participating Owner for such sums after deduction of - (i) any costs incurred in making them) shall be retained by the 1992 Supplementary Fund in recovering and the said sums; and (ii) an amount equal remaining 50% shall be paid by the Supplementary Fund to the compensation which the 1992 Fund has paid or expects to pay for Pollution Damage in respect of the Incident, insofar as this exceeds the amount paid under this Agreement by the Participating Owner. (E) Save where the 1992 Supplementary Fund has been notified to the contrary, the Club insuring the Participating Owner shall be deemed to be authorised to act on his behalf in receiving notice under Xxxxxx X(C) above; in receiving any sums payable to the Participating Owner under Xxxxxx X(DClause V (D) above; and in agreeing all and any other matters relating to the operation of this Clause V.

RECOURSE AGAINST THIRD PARTIES. (A) Any decisions as to whether the 1992 Supplementary 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 Supplementary Fund. (B) Without prejudice to Clause V(A) above –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 Supplementary 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 Supplementary 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 Supplementary 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 Supplementary Fund against any third parties in respect of the Incident. Such a conclusion may include a decision by the 1992 Supplementary 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 –that (1) if the 1992 Supplementary 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 Supplementary 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 Supplementary 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 Supplementary Fund may have against that third party, to the extent of any interest which the Participating Owner and/or his Club may have in recovering from that party any amounts paid under this Agreement; (3) if, after it payment by the Participating Owner has been paidmade, the 1992 Supplementary Fund for any reason recovers any sums from any third party, 50% of such recoveries (net of the 1992 Fund will account to the Participating Owner for such sums after deduction of - (i) any costs incurred in making them) shall be retained by the 1992 Supplementary Fund in recovering and the said sums; and (ii) an amount equal remaining 50% shall be paid by the Supplementary Fund to the compensation which the 1992 Fund has paid or expects to pay for Pollution Damage in respect of the Incident, insofar as this exceeds the amount paid under this Agreement by the Participating Owner. (E) Save where the 1992 Supplementary Fund has been notified to the contrary, the Club insuring the Participating Owner shall be deemed to be authorised to act on his behalf in receiving notice under Xxxxxx X(C) above; in receiving any sums payable to the Participating Owner under Xxxxxx X(DClause V(D) above; and in agreeing all and any other matters relating to the operation of this Clause V.

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 –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 –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 extent of any interest which the Participating Owner and/or his Club may have in recovering from that party any amounts paid under this Agreement; (3) if, after it has been paid, the 1992 Fund for any reason recovers any sums from any third party, the 1992 Fund will account to the Participating Owner for such sums after deduction of - (i) any costs incurred by the 1992 Fund in recovering the said sums; and (ii) an amount equal to the compensation which the 1992 Fund has paid or expects to pay for Pollution Damage in respect of the Incident, insofar as this exceeds the amount paid under this Agreement by the Participating Owner. (E) Save where the 1992 Fund has been notified to the contrary, the Club insuring the Participating Owner shall be deemed to be authorised to act on his behalf in receiving notice under Xxxxxx X(C) above; in receiving any sums payable to the Participating Owner under Xxxxxx X(D) above; and in agreeing all and any other matters relating to the operation of this Clause V.

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 extent of any interest which the Participating Owner and/or his Club may have in recovering from that party any amounts paid under this Agreement; (3) if, after it has been paid, the 1992 Fund for any reason recovers any sums from any third party, the 1992 Fund will account to the Participating Owner for such sums after deduction of -– (i) any costs incurred by the 1992 Fund in recovering the said sums; and (ii) an amount equal to the compensation which the 1992 Fund has paid or expects to pay for Pollution Damage in respect of the Incident, insofar as this exceeds the amount paid under this Agreement by the Participating Owner. (E) Save where the 1992 Fund has been notified to the contrary, the Club insuring the Participating Owner shall be deemed to be authorised to act on his behalf in receiving notice under Xxxxxx X(CClause V(C) above; in receiving any sums payable to the Participating Owner under Xxxxxx X(DClause V(D) above; and in agreeing all and any other matters relating to the operation of this Clause V.