Common use of Shared Assets/Shared Liabilities Clause in Contracts

Shared Assets/Shared Liabilities. The Managing Party shall assume or -------------------------------- retain the (i) prosecution of all claims that are Shared Assets and are pending on the Distribution Date and (ii) control of the defense against all Third Party Claims which are Shared Liabilities and are pending on the Distribution Date, including, in each case, those set forth on Schedule 7.09(d).

Shared Assets/Shared Liabilities. The On the Effective Date, the -------------------------------- Managing Party shall assume or -------------------------------- retain the (i) prosecution of all claims that are Shared Assets and are pending on the Distribution Effective Date and (ii) control of the defense against of all Third Party Claims which that are Shared Liabilities and are pending on the Distribution Effective Date, including, in each case, those set forth on Schedule 7.09(d)8.09, ------------- if any.