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LGCY » Topics » EVEN IF SUCH LOSS, DAMAGE, COST OR EXPENSE AROSE SOLELY OR IN PART FROM THE ACTIVE, PASSIVE, SOLE OR CONCURRENT NEGLIGENCE, STRICT LIABILITY OR OTHER FAULT OF BLACK OAK RESOURCES, ANY OF ITS AFFILIATES OR ANY OFFICER, DIRECTOR OR EMPLOYEE OF BLACK OAK RESThis excerpt taken from the LGCY 10-Q filed Nov 7, 2008. EVEN IF SUCH LOSS, DAMAGE, COST OR EXPENSE AROSE SOLELY OR IN PART FROM THE ACTIVE, PASSIVE, SOLE OR CONCURRENT NEGLIGENCE, STRICT LIABILITY OR OTHER FAULT OF BLACK OAK RESOURCES, ANY OF ITS AFFILIATES OR ANY OFFICER, DIRECTOR OR EMPLOYEE OF BLACK OAK RESOURCES OR ANY OF ITS AFFILIATES, OTHER THAN GROSS NEGLIGENCE OR WILLFUL MISCONDUCT OF BLACK OAK RESOURCES, ANY OF ITS AFFILIATES OR ANY OFFICER, DIRECTOR OR EMPLOYEE OF BLACK OAK RESOURCES OR ANY OF ITS AFFILIATES, it being understood by each Party hereto that such loss, damage, cost or expense (other than that caused by the gross negligence or willful misconduct of Black Oak Resources, its Affiliates or any officer, director or employee of Black Oak Resources or any of its Affiliates), shall be borne severally by the parties hereto in proportion to their interests in the operations or activities giving rise to such loss, damage, cost or expense. In addition, all Liabilities (as hereafter defined) incurred by Black Oak Resources in conducting activities or operations under this Agreement or any applicable Operating Agreement shall be borne and paid by the Parties, or their respective insurers, in proportion to the Parties' respective interests in the activity or operation giving rise to such Liabilities, |
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