Debts, Liabilities and Obligations Clause Samples
The "Debts, Liabilities and Obligations" clause defines the responsibilities of the parties regarding any outstanding amounts owed, financial commitments, or duties arising under the agreement. It typically clarifies which party is responsible for paying existing debts, settling liabilities, or fulfilling ongoing obligations, and may specify how these are to be handled upon termination or during the course of the contract. This clause ensures that there is no ambiguity about financial and legal responsibilities, thereby preventing disputes and allocating risk appropriately between the parties.
Debts, Liabilities and Obligations. The debts, liabilities, and obligations of the Authority shall not constitute debts, liabilities, or obligations of the Members, either jointly or severally.
Debts, Liabilities and Obligations a) DAMA-I and CHAPTER acknowledge the independent status of CHAPTER and agree that DAMA-I is not liable, and shall not be held out by CHAPTER as being liable, for any of CHAPTER’s contracts, torts, or other acts or omissions of its Directors or Officers
b) DAMA-I shall have no obligation to provide any legal defense for CHAPTER, or its Directors or Officers in the event of any claim against any of them
c) DAMA-I and CHAPTER acknowledge the independent status of DAMA-I and agree that CHAPTER is not liable, and shall not be held out by DAMA-I as being liable, for any of DAMA-I’s contracts, torts, or other acts or omissions of its Directors or Officers
d) CHAPTER shall have no obligation to provide any legal defense for DAMA-I, or its Directors or Officers in the event of any claim against any of them.
e) Disregarding any provisions of this agreement will cause a review by the DAMA-I Board of Directors, and CHAPTER must respond to inquiries by DAMA-I concerning the situation and its resolution
Debts, Liabilities and Obligations. All debts, liabilities and obligations of any of the Parties shall be and shall remain debts, liabilities and obligations of that or those Parties and shall not become debts liabilities and obligations of the other parties or of the Agency. All debts, liabilities and obligations incurred by or on behalf of the Agency shall remain debts, liabilities and obligations of the Agency.
Debts, Liabilities and Obligations. A true and complete schedule of all debts, liabilities and obligations of Company is provided in Section 2.6 of Schedule 2. Company has no debts, liabilities, or obligations of any nature, whether accrued, absolute, contingent, or otherwise, and whether due or to become due, that are not set forth in Section 2.6 of Schedule 2.
Debts, Liabilities and Obligations a. It is understood that the Technical College System of Georgia, Office of Workforce Development. requires participating governments to accept liability that may arise from the misuse of Act funds or other erroneous practices.
b. The WDB, grant recipient, sub recipient and fiscal agent are separate entities. To the extent allowed by law, the debts, liabilities, and obligations incurred by the WDB and/or the sub recipient and fiscal agent shall not pass through to the parties to this agreement nor the political subdivisions or municipalities they represent.
c. The Council will execute a contract with the WDB, the sub recipient and the fiscal agent. The WDB and the sub recipient/fiscal agent agree to hold each of the parties to this agreement harmless from any and all claims arising from the actions or omissions of the WDB and/or the sub recipient/fiscal agent.
d. If the WDB and/or sub recipient/fiscal agent incur liabilities over and above (1) the sum total of its assets, or (2) its ability to recover funds from the contractor or agent, or a third-party incurring the liability, or insurance, or bond issuer; and if that liability is passed on to the counties and cities listed in paragraph 4 of this agreement by operation of law; the counties and cities shall be liable in proportion to the relative population of each city or county the year in which the liability arose.
Debts, Liabilities and Obligations. All debts, liabilities, and obligations incurred pursuant to this Agreement shall be debts, liabilities, and obligations of the Parties to the Agreement, unless the Agreement specifies otherwise. Therefore, the debts, liabilities, and obligations of the System are attributed collectively to the City of Sandpoint, the Sagle Fire District and the Westside Fire District, consistent with their respective interests at the time they become a party hereto, unless the Agreement specifically allocates such responsibility differently.
Debts, Liabilities and Obligations. The Company has no debts, liabilities or obligations (contingent or otherwise) which are not embodied within the Company Contracts or reflected on the financial statements of the Company delivered to Purchaser pursuant to Section 3.1(c) hereinabove. For purposes hereof, the Company shall not be deemed to have debts, liabilities or obligations to the extent such debts, liabilities or obligations are not those of the Company, but merely might be legally imputed to Company solely as a result of its being a member in ACT I or ACT II (nothing herein shall be deemed to imply or admit that any such debts, liabilities or obligations are or may be so imputed to the members of ACT I or ACT II) or because the Company has taken action on behalf of ACT I, ACT II or any Subsidiary which is either (A) contemplated by an approved construction budget for a Project or (B) taken on behalf of ACT I, ACT II or any Subsidiary in the ordinary or normal course of business of such entity and which does not cause any such construction budget to be exceeded.
Debts, Liabilities and Obligations. As provided in the JPA Act, the Cooperative is a public entity separate from its members. Debts, liabilities, and obligations of the Cooperative are its own and not those of its members.
Debts, Liabilities and Obligations. All debts, Liabilities and obligations of the Company arising from the Property, including, but not limited to, Taxes, accounts payable, bills or claims in connection with the Property, have been paid as they became due and will continue to be so paid, and all such debts, Liabilities and obligations accrued as of the date of the Closing have been or will be satisfied by the Company.
Debts, Liabilities and Obligations. WIOA requires petitioning governments to accept liability that may arise from misuse of Act funds or other erroneous practices. Therefore, the ▇▇▇▇ party to this agreement agree to the following:
a. With respect to any misuse of WIOA grant funds received by the grant recipient (▇▇▇▇) under the Act, which funds are required to be repaid pursuant to the Act or regulations implementing the same, and which funds were designated for use within a municipality located within any such county or a specific county, the county in which such funds were designated to be used agrees to repay or reimburse all of such misused funds, in accordance with the Act and regulations implementing the same; and
b. With respect to any misuse of grant funds received by the ▇▇▇▇ under the Act, which funds are required to be repaid pursuant to the Act or regulations implementing the same, and which funds were not designated for use within a specific county represented hereunder or within a municipality located within any such county, each county represented hereunder agrees to repay or reimburse its proportionate share of such misused funds, such proportionate share being based upon such county’s share of the total funds designated for expenditure within the counties hereunder. If any costs incurred by the grant recipient or any contractor or service provider are disallowed, the grant sub-recipient or their designee will be responsible for taking steps to recoup such costs.