Liability for underfunding prior to Relevant Service Transfer Date

26.2 Where [Sub-hubco/Project Co] (and/or any relevant Service Provider) becomes an Admission Body, the parties agree that:

26.2.1 [Sub-hubco/Project Co] (and/or any relevant Service Provider) shall not be responsible for any underfunding in the LGPS which relates to (and is calculated by reference to) service of any Pensionable Authority Employee prior to a Relevant Service Transfer Date;

26.2.2 subject to the provisions of Clause 26.2.3 and Clause 26.2.4 below, [Sub-hubco/Project Co] (and/or any relevant Service Provider) shall pay to the Administering Authority, for the credit of the LGPS, the Actual Contribution Amount;

26.2.3 in the event that the Actual Contribution Amount is greater than the Fixed Amount, liability for the Actual Contribution Amount shall be apportioned as follows:-

26.2.4 

(a) [Sub-hubco/Project Co] (and/or any relevant Service Provider) shall be liable for the Fixed Amount; and

(b) the Authority shall be liable for the difference between the Actual Contribution Amount and the Fixed Amount.

26.2.5 in the event that the Actual Contribution Amount is less than the Fixed Amount, [Sub-hubco/Project Co] shall pay to the Authority the difference between the Fixed Amount and the Actual Contribution Amount;

26.2.6 the Authority shall indemnify [Sub-hubco/Project Co] (and/or any relevant Service Provider) from and against any costs, charges, and losses suffered by it or them which arise under Clause 26.2.3(b); and

26.2.7 Project Co shall indemnify the Authority from and against any costs, charges and losses suffered by the Authority which arise under Clause 26.2.4.