Common use of Shared Liability Clause in Contracts

Shared Liability. To the extent, if any, the same factual bases give rise both to a claim for indemnification by the Buyer against the Seller under Section 11.1, and a claim for indemnification by the Seller against the Buyer under Section 11.2, each party shall bear a proportion of the Losses resulting from such factual bases equal to such party's proportionate responsibility for such factual bases.

Appears in 3 contracts

Sources: Asset Purchase Agreement (Footstar Inc), Asset Purchase Agreement (Footstar Inc), Asset Purchase Agreement (Baker J Inc)