Sharing of Risks Sample Clauses
The Sharing of Risks clause defines how potential losses, liabilities, or unforeseen events are distributed between the parties involved in an agreement. Typically, this clause outlines specific scenarios—such as project delays, cost overruns, or damages—where each party assumes a portion of the risk, either equally or according to a predetermined formula. By clearly allocating responsibility for various risks, this clause helps prevent disputes and ensures that both parties are aware of their obligations, thereby promoting fairness and predictability in the contractual relationship.
Sharing of Risks. The risks associated with the performance and operations of the project(s) are the sole responsibility of the Assignee.
Sharing of Risks. Participant agrees to bear the risks of the collectibility of the Affected Loans, of each Obligor's financial condition, of any fraud or forgery of any Obligor, of the unenforceability of any of the Affected Loan Documents, of usury or claims of usury, in each case whether valid or invalid, and of the adequacy of the Security for the Affected Loans; and Participant shall bear any losses and expenses sustained or incurred in connection with any Affected Loan.
Sharing of Risks. In it, risk get distributed among partners which reduces anxiety, burden and stress on individual partner.
Sharing of Risks. The Parties agree that they will share the risks or losses associated with the construction and use of the Building according to the Capital Contribution Ratio. During the construction period, Party A shall timely notify Party B any potential risks associated with the construction of the Building by way of written notice. Termination: Either Party (“Terminating Party”) shall have the right to terminate the Cooperation Agreement by giving ten (10) working days’ prior written notice to the other Party in the event of any of the following circumstances:
Sharing of Risks. Owner accepts all risks covered by a standard builder’s all risk insurance policy subject to a deductible, in the name of Owner and Contractor including the interest of subcontractor on: (1) the Work that is to be done; and (2) all insurable items of work and materials to be incorporated in the work, title to which has been acquired by Owner, but such insurance shall not cover any property owned, leased or otherwise used in connection with the work by Contractor or his subcontractors. Contractor shall be responsible for the first $10,000 of any loss covered by a standard builder’s all risk coverage insurance policy. Nothing in this agreement shall relieve Contractor of any responsibility for any loss for which Owner is not required to provide insurance, or for the risk of loss and the responsibility for all injuries or damages to persons or property, including the work of subcontractors that may arise through the prosecution of the work. Contractor hereby indemnifies and agrees to save the Owner harmless against any liability claims whatsoever that may arise in connection with the work, and agrees, at his expense, to defend any legal action and pay any attorney fees incurred by Owner in connection therewith. 9.
Sharing of Risks