Shared Percentage definition
Examples of Shared Percentage in a sentence
Shared Percentage Specify the percentage share of the liability in the collateral.
If it is determined by the parties or the Contingent Claim Committee that the Third Party Claim is a Shared Contingent Liability, the Indemnifying Party determined to have a majority of the Shared Percentage of such Shared Contingent Liability shall assume the defense of such Third Party Claim; provided, that such Indemnifying Party is solvent.
In the case of any Shared Contingent Gain, CBI shall be entitled to retain from the amount of the Shared Contingent Gain otherwise payable to CONVERGYS, CONVERGYS' Shared Percentage of the costs and expenses paid or incurred by or on behalf of any member of the CBI Group in connection with such Shared Contingent Gain.
If it is determined by the Parties or the Contingent Claim Committee that a Contingent Recovery is a Shared Contingent Recovery, the Party determined to have a majority of the Shared Percentage of such Shared Contingent Recovery shall have the sole and exclusive authority to commence, prosecute, settle, manage, control, conduct, waive, forgo, release, discharge, forgive and otherwise determine all matters whatsoever with respect to such Shared Contingent Recovery; provided, that such Party is solvent.
Any dispute arising over the determination of the Shared Percentage shall be resolved pursuant to Section 3.3.