Common use of Buyer Acknowledgement Clause in Contracts

Buyer Acknowledgement. Buyer hereby acknowledges that Seller makes no express or implied representations or warranties whatsoever with respect to (a) the Purchased Assets, which are being transferred to it on an "AS IS, WHERE IS" basis, i.e., without representations or warranties regarding value, condition of use, merchantability or fitness for a particular purpose or (b) the liabilities relating to the Purchased Assets. Buyer hereby further acknowledges that it is relying on its own familiarity with the Purchased Assets and the related liabilities in making its decision to purchase the Purchased Assets and assume the Assumed Liabilities and Buyer will not have any recourse against Seller after the Closing by way of indemnification rights or claims for damages or otherwise for any matter whatsoever relating to the Purchased Assets or the Assumed Liabilities (other than a breach of the representation made by Seller in Section 3.3 hereof).