Common use of Paragraph Five Clause in Contracts

Paragraph Five. For the purposes of the special obligation referred to in item IV of this Clause, the CLIENT is considered aware of: I - receipt of summons, subpoena or notification, judicial or out-of-court, made by a judicial or administrative authority. II - communication of the fact by the CLIENT to the competent authority; and III - adoption of a measure by the CLIENT to correct and/or remedy the damages.

Paragraph Five. For the purposes of the special obligation referred to in item IV of this Clause, the CLIENT is considered aware of: I - the receipt of summons, subpoena or notification, judicial or out-of-court, made by a judicial or administrative authority. II - the communication of the fact by the CLIENT to the competent authority; and III - the adoption of a measure by the CLIENT to correct and/or remedy the damages.