Excluded Obligations and Assets Sample Clauses

The 'Excluded Obligations and Assets' clause defines which specific obligations and assets are not included in the scope of a transaction or agreement. In practice, this means that certain liabilities, contracts, or property—such as pre-existing debts or unrelated business assets—are expressly carved out and remain with the original party rather than transferring to the other party. This clause ensures that only the intended obligations and assets are transferred, thereby preventing misunderstandings and limiting the risk of inheriting unwanted responsibilities or liabilities.