Common use of Status of Corporation Clause in Contracts

Status of Corporation. The Corporation enters into this Contract for itself and as agent for and on behalf of the other Co- venturers. Notwithstanding the foregoing: (a) the Contractor agrees to look only to the Corporation for the due performance of this Contract and nothing contained in this Contract will impose any liability upon, or entitle the Contractor to commence any proceedings against any Co-venturer other than the Corporation; and (b) the Corporation is entitled to enforce this Contract on behalf of all the Co-venturers as well as for itself. For that purpose, the Corporation may commence proceedings in its own name to enforce all obligations and liabilities of the Contractor and to make any claim which any Co-venturer may have against the Contractor; and (c) all losses, damages, costs (including legal costs) and expenses recoverable by the Corporation pursuant to this Contract or otherwise shall include the losses, damages, costs (including legal costs) and expenses of the Corporation’s Co-venturers and its and their respective Affiliates, except that such losses, damages, costs (including legal costs) and expenses shall be subject to the same limitations or exclusions of liability as are applicable to Corporation or the Contractor under the Contract.

Status of Corporation. The Corporation enters into this Contract for itself and as agent for and on behalf of the other Co- venturers. Notwithstanding the foregoing: (a) the Contractor agrees to look only to the Corporation for the due performance of this Contract and nothing contained in this Contract will impose any liability upon, or entitle the Contractor to commence any proceedings against any Co-venturer other than the Corporation; and (b) the Corporation is entitled to enforce this Contract on behalf of all the Co-venturers as well as for itself. For that purpose, the Corporation may commence proceedings in its own name to enforce all obligations and liabilities of the Contractor and to make any claim which any Co-venturer may have against the Contractor; and (c) all losses, damages, costs (including legal costs) and expenses recoverable by the Corporation pursuant to this Contract or otherwise shall include the losses, damages, costs (including legal costs) and expenses of the Corporation’s Corporation‟s Co-venturers and its and their respective Affiliates, except that such losses, damages, costs (including legal costs) and expenses shall be subject to the same limitations or exclusions of liability as are applicable to Corporation or the Contractor under the Contract.