NiSource Liabilities Clause Samples
The "NiSource Liabilities" clause defines the specific obligations and responsibilities that NiSource assumes under the agreement. Typically, this clause outlines the types of liabilities NiSource will be accountable for, such as damages, losses, or claims arising from its actions, negligence, or contractual breaches. For example, it may specify that NiSource is responsible for any third-party claims resulting from its operations or for indemnifying the other party against certain risks. The core function of this clause is to clearly allocate risk and responsibility, ensuring that both parties understand which liabilities NiSource will bear, thereby reducing ambiguity and potential disputes.
NiSource Liabilities. Except as provided in Section 4.05, NiSource and the NiSource Welfare Plans shall continue to be responsible for all claims for welfare benefits (and for any Liabilities arising as a result of such claims) incurred with respect to any Business Employee (and, if applicable, such Business Employee’s participating spouse and/or dependents) or Surviving Dependent prior to the Distribution Date (except with respect to any claims for long-term or short-term disability benefits due and payable on and after the Distribution Date, but incurred prior to the Distribution Date), whether such claims have been paid or remain unpaid as of such date, and neither Columbia nor the Columbia Welfare Plans shall assume or retain any such Liabilities.
NiSource Liabilities. NiSource and the NiSource Retiree Welfare Plans shall continue to be responsible for all claims for retiree welfare benefits (and for any Liabilities arising as a result of such claims) incurred with respect to any Business Employee (and, if applicable, such Business Employee’s participating spouse and/or dependents) or Surviving Dependent prior to the Distribution Date, whether such claims have been paid or remain unpaid as of such date, and neither Columbia nor the Columbia Retiree Welfare Plans shall assume or retain any such Liabilities.