4Assumed Liabilities. (a) Except for Excluded Liabilities as provided in Section 2.5, at the Effective Time, the Partnership Group agrees to assume and to pay, discharge and perform as and when due, all Liabilities that first accrue, are caused by, arise out of, are associated with, are in respect of, or are incurred, in each case, at any time from and after the Effective Time, in connection with the ownership of the Storage Assets or other activities occurring in connection with and attributable to the ownership of the Storage Assets from and after the Effective Time.
(b) Except for Excluded Liabilities as provided in Section 2.5, at the Effective Time, the Partnership Group agrees to assume and to pay, discharge and perform as and when due, all Liabilities that are caused by, arise out of, are associated with, are in respect of, or are incurred, in each case, at any time from and after the Effective Time, in connection with the operation of the Transportation Assets or other activities occurring in connection with and attributable to the operation of the Transportation Assets from and after the Effective Time. The Liabilities in this Section 2.4(b) shall include, but are not limited to, the requirement or obligation, whether accrued before or after the Effective Time, to clean and refurbish the Transportation Assets pursuant to any lease or other agreement assumed by the Partnership Group pursuant to the Assignment Agreement. The Liabilities described in this Section 2.4 are referred to as the “Assumed Liabilities” in this Agreement.
4Assumed Liabilities. On the terms and subject to the conditions set forth in this Agreement, at the Closing, the Operating Partnership shall assume and thereafter pay, perform or discharge in accordance with their terms all of the liabilities and obligations of the Contributor listed on Schedule 1.4 (the “Assumed Liabilities”).
4Assumed Liabilities. 3 2.5Excluded Liabilities.............................................................................................................4 2.6Transaction Taxes.................................................................................................................4 Article III. REPRESENTATIONS AND WARRANTIES OF CONE Gathering.............................................4 3.1Organization and Existence.................................................................................................4 3.2Authority and Approval; Enforceability...............................................................................4 3.3No Conflict...........................................................................................................................5 3.4Consents...............................................................................................................................5 3.5Laws and Regulations; Litigation........................................................................................6 3.6Management Projections and Budgets.................................................................................6 3.7Title to Subject Interests......................................................................................................6 3.8Brokerage Arrangements.....................................................................................................7 3.9No Adverse Changes............................................................................................................7 3.10No Preferential Rights..........................................................................................................7 3.11Accredited Investor..............................................................................................................7 3.12No Other Representations or Warranties.............................................................................8 -i- Article IV. REPRESENTATIONS AND WARRANTIES OF THE PARTNERSHIP Parties..........................8 4.1Organization and Existence.................................................................................................8 4.2Authority and Approval; Enforceability...............................................................................8 4.3No Conflict...........................................................................................................................8 4.4Consents...................................................................
4Assumed Liabilities. 5Excluded Liabilities.............................................................................................................4 2.6Transaction Taxes.................................................................................................................4 Article III.
