Common use of Obligations and Liabilities Clause in Contracts

Obligations and Liabilities. (i) On and after June 1, 2013, NCTI or another member of the New News Corporation Group shall be solely and exclusively responsible for all obligations and Liabilities with respect to, or in any way related to, the NCTI SERP, whether accrued before, on or after the June 1, 2013. For the avoidance of doubt, and except as provided in Section 7.02(b), the NCTI SERP shall have the sole and exclusive obligation for all benefits accrued or earned by Employees of NCTI, Amplify Education Inc., News America Marketing, Inc. and NYP Holdings, Inc., who are employed by such entities on June 1, 2013 (whether or not vested and whether accrued or earned while employed by the Remainco Group or the New News Corporation Group).

Obligations and Liabilities. (i) On and after June 1, 2013, NCTI or another member of the New News Corporation Group shall be solely and exclusively responsible for all obligations and Liabilities with respect to, or in any way related to, the NCTI SERPDB Plan, whether accrued before, on or after the June 1, 2013. For the avoidance of doubt, and except as provided in Section 7.02(b6.02(c)(ii), the NCTI SERP DB Plan shall have the sole and exclusive obligation for all benefits accrued or earned by Employees of NCTI, Amplify Education Inc., News America Marketing, Inc. and NYP Holdings, Inc., who are employed by such entities on June 1, 2013 (whether or not vested and whether accrued or earned while employed by the Remainco Group or the New News Corporation Group).