Joint and Several Liability and Indemnification Clause Samples

Joint and Several Liability and Indemnification. Release and Waiver of All Claims Against Sector Manger; Indemnification and Hold Harmless
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Joint and Several Liability and Indemnification. Each member acknowledges that the sector’s 4 members may be held jointly liable for ACE overages, discarding of legal-sized fish and 5 misreporting of catch landings or discards. Further, each member acknowledges that should a the 6 total allowable catch allocated to the sector be exceeded in a given fishing year, the sector’s 7 allocation will be reduced by the overage in the following fishing year, and the sector, each vessel 8 participating in the sector and each vessel operator and/or vessel owner participating in the sector 9 may be charged, as a result of said overages, jointly and severally for civil penalties and permit 10 sanctions pursuant to 15 C.F.R. Part 904, and that if the sector exceeds its total allowable catch in 11 more than one fishing year, the sector’s ACE may be permanently reduced or the sector’s 12 authorization to operate may be withdrawn.
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Joint and Several Liability and Indemnification. The CLIENT fully exonerates TROPIC for the direct and indirect damages that the CLIENT may have as a result of a breakdown or accident of the rented vehicle. All authorized additional drivers shall be jointly and severally liable for all obligations of the CLIENT arising from the Contract and the laws applicable thereto. To the extent permitted by law, the CLIENT undertakes to indemnify TROPIC against any claims relating to the use of the vehicle, any damage suffered by the CLIENT, including, but not limited to, the fines and other consequences referred to in clause 9, or any other matters that are the responsibility of the CLIENT. TROPIC expressly rejects any liability for damages, whatever they may be suffered by the CLIENT or by a third party, unless TROPIC is through fault.
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Joint and Several Liability and Indemnification. Each member acknowledges that the sector’s members may be held jointly liable for ACE overages, discarding of legal-sized fish and misreporting of catch landings or discards. Further, each member acknowledges that should a the total allowable catch allocated to the sector be exceeded in a given fishing year, the sector’s allocation will be reduced by the overage in the following fishing year, and the sector, each vessel participating in the sector and each vessel operator and/or vessel owner participating in the sector may be charged, as a result of said overages, jointly and severally for civil penalties and permit sanctions pursuant to 15 C.F.R. Part 904, and that if the sector exceeds its total allowable catch in more than one fishing year, the sector’s ACE may be permanently reduced or the sector’s authorization to operate may be withdrawn. In consideration of the foregoing, each active member agrees to indemnify, defend and hold the sector and all other members harmless from and against all liabilities, claims, fines, penalties and forfeitures of any nature whatsoever arising out of or related to any breach of this agreement related to such active member’s harvest of sector ACE, and each member agrees to indemnify, defend and hold the sector and the other members harmless from and against all liabilities, claims, fines, penalties and forfeitures of any nature whatsoever arising out of or related to such member’s breach of this agreement. Each member’s indemnification obligation under this section is separate from and in addition to each member’s liquidated damages and consequential damages obligations defined below. Each member authorizes the Board to require that a member’s obligations under this section be secured by a surety.
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Related to Joint and Several Liability and Indemnification

  • Joint and Several Liability Each Borrower agrees that it is jointly and severally liable for, and absolutely and unconditionally guarantees to Agent and Lenders the prompt payment and performance of, all Obligations and all agreements under the Loan Documents. Each Borrower agrees that its guaranty obligations hereunder constitute a continuing guaranty of payment and not of collection, that such obligations shall not be discharged until Full Payment of the Obligations, and that such obligations are absolute and unconditional, irrespective of (a) the genuineness, validity, regularity, enforceability, subordination or any future modification of, or change in, any Obligations or Loan Document, or any other document, instrument or agreement to which any Obligor is or may become a party or be bound; (b) the absence of any action to enforce this Agreement (including this Section) or any other Loan Document, or any waiver, consent or indulgence of any kind by Agent or any Lender with respect thereto; (c) the existence, value or condition of, or failure to perfect a Lien or to preserve rights against, any security or guaranty for the Obligations or any action, or the absence of any action, by Agent or any Lender in respect thereof (including the release of any security or guaranty); (d) the insolvency of any Obligor; (e) any election by Agent or any Lender in an Insolvency Proceeding for the application of Section 1111(b)(2) of the Bankruptcy Code; (f) any borrowing or grant of a Lien by any other Borrower, as debtor-in-possession under Section 364 of the Bankruptcy Code or otherwise; (g) the disallowance of any claims of Agent or any Lender against any Obligor for the repayment of any Obligations under Section 502 of the Bankruptcy Code or otherwise; or (h) any other action or circumstances that might otherwise constitute a legal or equitable discharge or defense of a surety or guarantor, except Full Payment of all Obligations.

  • Joint and Several Liabilities Sector members acknowledge and agree that they and the sector may be held jointly and severally liable for discarding legal sized fish, misreporting, and Annual Catch Entitlement (ACE) overages as specified in Federal regulations.

  • Liability and Indemnification A. Except as may otherwise be provided by the Investment Company Act or any other federal securities law (whose provisions may not be waived or altered by contract), the Sub-Adviser shall not be liable for any losses, claims, damages, liabilities or litigation (including reasonable attorneys fees) incurred or suffered by the Portfolio(s), the Trust or the Adviser as a result of any error of judgment, mistake of law, or other action or omission by the Sub-Adviser; provided, however, that nothing in this Agreement shall operate or purport to operate in any way to exculpate, waive or limit the liability of the Sub-Adviser for, and the Sub-Adviser shall indemnify and hold harmless the Adviser and the Trust, all affiliated persons thereof (as defined in Section 2(a)(3) of the Investment Company Act) and all controlling persons thereof (as described in Section 15 of the Securities Act) (collectively, “Adviser Indemnitees”) against, any and all losses, claims, damages, liabilities or litigation (including reasonable legal and other expenses) to which any of the Adviser Indemnitees may become subject under the Securities Act, the Investment Company Act, the Advisers Act or any other statute, or at common law or otherwise, arising out of or based on (i) any willful misconduct, bad faith, reckless disregard or gross negligence of the Sub-Adviser in the performance of any of its duties or obligations hereunder or (ii) any untrue statement of a material fact contained in the Prospectus, proxy materials, reports, advertisements, sales literature or other materials pertaining to the Portfolio(s), the Trust or the Adviser, or the omission to state therein a material fact known to the Sub-Adviser which was required to be stated therein or necessary to make the statements therein not misleading, if such statement or omission was made in reliance upon information furnished to the Adviser or the Trust by the Sub-Adviser Indemnitees (as defined below) for use therein. B. Except as may otherwise be provided by the Investment Company Act or any other federal securities law (whose provisions may not be waived or altered by contract), the Adviser shall not be liable for any losses, claims, damages, liabilities or litigation (including reasonable attorneys fees) incurred or suffered by the Sub-Adviser as a result of any error of judgment, mistake of law, or other action or omission by the Adviser; provided, however, that nothing in this Agreement shall operate or purport to operate in any way to exculpate, waive or limit the liability of the Adviser for, and the Adviser shall indemnify and hold harmless the Sub-Adviser, all affiliated persons thereof (as defined in Section 2(a)(3) of the Investment Company Act) and all controlling persons thereof (as described in Section 15 of the Securities Act) (collectively, “Sub-Adviser Indemnitees”) against, any and all losses, claims, damages, liabilities or litigation (including reasonable legal and other expenses) to which any of the Sub-Adviser Indemnitees may become subject under the Securities Act, the Investment Company Act, the Advisers Act or any other statute, or at common law or otherwise, arising out of or based on (i) any willful misconduct, bad faith, reckless disregard or gross negligence of the Adviser in the performance of any of its duties or obligations hereunder or (ii) any untrue statement of a material fact contained in the Prospectus, proxy materials, reports, advertisements, sales literature or other materials pertaining to the Portfolio(s), the Trust or the Adviser, or the omission to state therein a material fact known to the Adviser that was required to be stated therein or necessary to make the statements therein not misleading, unless such statement or omission was made in reliance upon information furnished to the Adviser or the Trust by the Sub-Adviser Indemnitees.