Common use of Third Party Shared Policies Clause in Contracts

Third Party Shared Policies. (a) With respect to Third-Party Shared Policies for claims that arise out of insured events, including an accident, illness, disease, occurrence or offense, taking place in whole and/or in part prior to the Effective Time, to the extent reasonably possible, Crane NXT, Co. will, or will cause the members of the Crane NXT Group that are insured thereunder and applicable insurance companies to (i) continue to provide Crane Company and any other member of the Crane Company Group with access to and coverage under the applicable Third-Party Shared Policies, and (ii) reasonably cooperate with Crane Company and take commercially reasonable actions as may be necessary or advisable to assist Crane Company in submitting such claims under the applicable Third-Party Shared Policies; provided, however, that Crane Company shall be responsible for any and all applicable deductibles, self-insured retentions, retrospective premiums, claims-handling charges, co-payments or any other charge or fee legally due and owing relating to such claims, and neither Crane NXT, Co., any member of the Crane NXT Group, nor the insurance company shall be required to maintain such Third-Party Shared Policies beyond their current terms. For the avoidance of doubt, for any portion of an insured event taking place after the Effective Time, no payment for any damages, costs of defense or other sums with respect to such claim shall be available to Crane Company under such Third-Party Shared Policies. (b) With respect to all Third-Party Shared Policies, Crane Company agrees and covenants (on behalf of itself and each other member of the Crane Company Group, and each other Affiliate of Crane Company) not to make any claim or assert any rights against Crane NXT, Co. and any other member of the Crane NXT Group, or the unaffiliated Third-Party insurers of such Third-Party Shared Policies, except as expressly provided under this Section 9.4.

Third Party Shared Policies. (a) With respect to Third-Third Party Shared Policies of workers’ compensation and automobile liability insurance that provide excess layer coverage for any Captive Gas Policy, for claims that arise out of insured events, including an accident, illness, disease, occurrence or offense, taking place in whole and/or in part occurrences that occur prior to the Effective Time, to the extent reasonably possible, Crane NXT, Co. Duke Energy will, or will cause the applicable captive insurance companies or members of the Crane NXT Duke Energy Group that are insured thereunder and applicable insurance companies to (i) continue to provide Crane Company Spectra Energy and any other member of the Crane Company Spectra Energy Group with access to and coverage under the applicable Third-Third Party Shared Policies, and (ii) reasonably cooperate with Crane Company Spectra Energy and take commercially reasonable actions as may be necessary or advisable to assist Crane Company Spectra Energy in submitting such claims under the applicable Third-Third Party Shared Policies; provided, however, that Crane Company Spectra Energy shall be responsible for its portion of any and all applicable deductibles, self-insured retentions, retrospective premiums, claims-handling charges, deductibles or co-payments legally due and owing relating to such claims and neither Duke Energy nor the captive insurance company or member of the Duke Energy Group shall be required to maintain such Third Party Shared Policies beyond their current terms. (b) With respect to Third Party Shared Policies of general liability insurance that provide excess layer coverage for any Captive Gas Policy, if an occurrence for which coverage is available under such Third Party Shared Policies happens prior to the Effective Time, and a claim arising therefrom has been or is eventually asserted against Spectra Energy or any other charge member of the Spectra Energy Group and such claim is reported by Spectra Energy to Duke Energy on or fee before the date that occurs six (6) months after the Effective Time, then Duke Energy will, or will cause the applicable captive insurance companies or members of the Duke Energy Group that are insured thereunder to (i) continue to provide Spectra Energy and any other member of the Spectra Energy Group with access to and coverage under the applicable Third Party Shared Policies, and (iii) reasonably cooperate with Spectra Energy and take commercially reasonable actions as may be necessary or advisable to assist Spectra Energy in submitting such claims under the applicable Third Party Shared Policies, provided that Spectra Energy shall be responsible for its portion of any deductibles or co-payments legally due and owing relating to such claims, and neither Crane NXT, Co., any member of the Crane NXT Group, nor the insurance company shall be required to maintain such Third-Party Shared Policies beyond their current terms. For the avoidance of doubt, if an occurrence for any portion of an insured event taking place which coverage is available under such Third Party Shared Policies happens after the Effective Time, or a claim arising from an occurrence prior to the Effective Time is not reported by Spectra Energy to Duke Energy on or before the date that occurs six (6) months after the Effective Time, then no payment for any damages, costs of defense defense, or other sums with respect to such claim shall be available to Crane Company Spectra Energy under such Third-Third Party Shared Policies. (bc) With respect to all Third-claims that arise out of occurrences that occur prior to the Effective Time and for which coverage is available under any Third Party Shared Policies pursuant to paragraphs (a) or (b) of this Section 10.3, Spectra Energy or the relevant member of the Spectra Energy Group shall be responsible for bearing the full amount of the deductible and/or any claims, costs and expenses that are not covered under the relevant Captive Gas Policy or such Third Party Shared Policies. Duke Energy will cause the captive insurance company that issued the relevant Captive Gas Policy to be responsible for bearing the full amount of the deductible and/or any claims, costs and expenses that are not covered under such Third Party Shared Policies only to the extent they are covered by the relevant Captive Gas Policy. (d) With respect to all Third Party Shared Policies, Crane Company Spectra Energy agrees and covenants (on behalf of itself and each other member of the Crane Company Spectra Energy Group, and each other Affiliate of Crane CompanySpectra Energy) not to make any claim or assert any rights against Crane NXT, Co. Duke Energy and any other member of the Crane NXT GroupDuke Energy Group (including the captive insurance companies that are insured under the Third Party Shared Policies), or the unaffiliated Thirdthird-Party party insurers of such Third-Third Party Shared Policies, except as expressly provided under this Section 9.410.3.

Third Party Shared Policies. (a) With respect to Third-Third Party Shared Policies of workers’ compensation, automobile liability, general/product liability, excess/umbrella liability, directors & officers, crime or fiduciary liability for claims that arise out of insured events, including events with an accident, illness, disease, occurrence or offense, taking place in whole and/or in part date prior to the Effective Time, to the extent reasonably possible, Crane NXT, Co. ASD will, or will cause the applicable insurance companies or members of the Crane NXT ASD Group that are insured thereunder and applicable insurance companies to (i) continue to provide Crane Company WABCO and any other member of the Crane Company WABCO Group with access to and coverage under the applicable Third-Third Party Shared Policies, and (ii) reasonably cooperate with Crane Company WABCO and take commercially reasonable actions as may be necessary or advisable to assist Crane Company WABCO in submitting such claims under the applicable Third-Third Party Shared Policies; provided, however, that Crane Company WABCO shall be responsible for any and all applicable deductibles, self-insured retentions, retrospective premiums, claimsclaim-handling charges, co-payments or any other charge or fee legally due and owing relating to such claims, claims and neither Crane NXT, Co., any member of the Crane NXT Group, ASD nor the insurance company or member of the ASD Group shall be required to maintain such Third-Third Party Shared Policies beyond their current terms. For the avoidance of doubt, for any portion of if an insured event taking place occurrence date is after the Effective Time, then no payment for any damages, costs of defense defense, or other sums with respect to such claim shall be available to Crane Company WABCO under such Third-Third Party Shared Policies. (b) With respect to all Third-Third Party Shared Policies, Crane Company WABCO agrees and covenants (on behalf of itself and each other member of the Crane Company WABCO Group, and each other Affiliate of Crane CompanyWABCO) not to make any claim or assert any rights against Crane NXT, Co. ASD and any other member of the Crane NXT ASD Group, or the unaffiliated Thirdthird-Party party insurers of such Third-Third Party Shared Policies, except as expressly provided under this Section 9.49.2.

Third Party Shared Policies. (a) With respect to Third-Third Party Shared Policies of Workers’ Compensation, Automobile Liability, General/Product Liability, Excess/Umbrella Liability, Directors & Officers, Crime or Fiduciary Liability for claims that arise out of insured events, including events with an accident, illness, disease, occurrence or offense, taking place in whole and/or in part date prior to the Effective Time, to the extent reasonably possible, Crane NXT, Co. ASD will, or will cause the applicable insurance companies or members of the Crane NXT ASD Group that are insured thereunder and applicable insurance companies to (i) continue to provide Crane Company WABCO and any other member of the Crane Company WABCO Group with access to and coverage under the applicable Third-Third Party Shared Policies, and (ii) reasonably cooperate with Crane Company WABCO and take commercially reasonable actions as may be necessary or advisable to assist Crane Company WABCO in submitting such claims under the applicable Third-Third Party Shared Policies; provided, however, that Crane Company WABCO shall be responsible for any and all applicable deductibles, self-insured retentions, retrospective premiums, claims-handling charges, deductibles or co-payments or any other charge or fee legally due and owing relating to such claims, claims and neither Crane NXT, Co., any member of the Crane NXT Group, ASD nor the insurance company or member of the ASD Group shall be required to maintain such Third-Third Party Shared Policies beyond their current terms. For the avoidance of doubt, for any portion of if an insured event taking place occurrence date is after the Effective TimeTime for which coverage is otherwise available under such Third Party Shared Policies, then no payment for any damages, costs of defense defense, or other sums with respect to such claim shall be available to Crane Company WABCO under such Third-Third Party Shared Policies. Notwithstanding anything to contrary herein, no Third Party Shared Policy shall be available to WABCO to cover any asbestos premises or asbestosis related product liability claims. (b) With respect to all Third-Third Party Shared Policies, Crane Company WABCO agrees and covenants (on behalf of itself and each other member of the Crane Company WABCO Group, and each other Affiliate of Crane CompanyWABCO) not to make any claim or assert any rights against Crane NXT, Co. ASD and any other member of the Crane NXT ASD Group, or the unaffiliated Thirdthird-Party party insurers of such Third-Third Party Shared Policies, except as expressly provided under this Section 9.49.2.