Expenses Associated with Remedial Action Sample Clauses
The "Expenses Associated with Remedial Action" clause defines which party is responsible for covering costs incurred when corrective measures are required to address a problem, such as environmental contamination or contract breaches. Typically, this clause outlines the types of expenses covered, such as investigation, cleanup, or legal fees, and may specify whether the responsible party must pay these costs directly or reimburse the other party. Its core practical function is to allocate financial responsibility for remedial actions, thereby reducing disputes and ensuring that necessary corrective steps are taken without delay.
Expenses Associated with Remedial Action. In no event shall the Trust be required to bear the expense of establishing a new funding medium for any Contract. The Company shall not be required by this Article VIII to establish a new funding medium for any Contract if an offer to do so has been declined by vote of a majority of the Contract Owners materially adversely affected by the irreconcilable material conflict.
Expenses Associated with Remedial Action. In no event shall the Trust be required to bear the expense of establishing a new funding medium for any Contract. The Company shall not be required by this Article to establish a new funding medium for any Contract if an offer to do so has been declined by vote of a majority of the Contract Owners materially adversely affected by the irreconcilable material conflict.
Expenses Associated with Remedial Action. The Company shall not be required by this Article VIII to establish a new funding medium for any Contract if an offer to do so has been declined by vote of a majority of the Contract Owners materially adversely affected by the irreconcilable material conflict.