Common use of NO ASSUMPTION OF EXISTING LIABILITIES Clause in Contracts

NO ASSUMPTION OF EXISTING LIABILITIES. Except as expressly set forth in this Agreement, Buyer is not assuming, whether directly or indirectly, and shall have no liability or obligation with respect to, any of the debts, liabilities or obligations of Seller or the Club, all of which (except as otherwise set forth below) shall be and remain the sole obligation and liability of Seller.