Examples of Shared Liability in a sentence
The failure to give notice under this subsection shall not relieve any Party of its Liability for any Shared Liability except to the extent the Party is actually prejudiced by the failure to give such notice.
The Parties shall be deemed to be on notice of any Shared Liability pending prior to the Effective Time.
The Managing Party shall be responsible for managing, and shall have the authority to manage, the defense or prosecution, as applicable, and resolution of a Shared Liability.
Each of New NGC and HII shall be responsible for its Applicable Proportion of any Shared Liability.
If it is determined or agreed that the Third-Party Claim is a Shared Liability, the Managing Party shall assume the defense of such Third-Party Claim as soon as reasonably practicable following such determination.