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.
Each of New NGC and HII shall be responsible for its Applicable Proportion of any Shared Liability.
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.
In determining which party shall be the Managing Party, the Allocation Committee shall consider as the primary factor in such a determination which party is subject to the greater financial, operational and reputational risk or exposure in connection with such Shared Liability, including the relative Applicable Proportions with respect to such Shared Liability.