SPI's Liability Clause Samples
SPI's Liability. Subject to Sections 3.1(c). 4.3 and 4.4, --------------- Immediately after the Distribution Date, SPI shall assume responsibility to pay, perform, fulfill and discharge, in accordance with their respective terms, all of the Liabilities (regardless of when or where such Liabilities arose or arise or were or are incurred) to or relating to the Transferred Employees that arise out of or relate to the employment relationship between IREX, any member of the IREX Group or SPI and any Transferred Employee, including but not limited to any Liabilities that arise from the termination of such employment relationship and all Liabilities with respect to the SPI Savings Plan.
SPI's Liability. Subject to Sections 3.1(c). 4.3 and 4.4, --------------- Immediately after the Distribution Date (except with respect to Liabilities under the IREX Savings Plan whereupon this Section shall be effective immediately following the asset transfer provided for in Section 3.2(g)), SPI shall assume responsibility to pay, perform, fulfill and discharge, in accordance with their respective terms, all of the Liabilities (regardless of when or where such Liabilities arose or arise or were or are incurred) to or relating to the Transferred Employees that arise out of or relate to the employment relationship between IREX, any member of the IREX Group or SPI and any Transferred Employee, including but not limited to any Liabilities that arise from the termination of such employment relationship.