Obligations and Liabilities. On the Closing Date, Buyer will not assume or be obligated to satisfy or perform any liabilities, obligations or payables of Seller, other than those secured by the Patents.
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Samples: Reorganization and Asset Purchase Agreement (Djokovich Thomas), Reorganization and Asset Purchase Agreement (Xsunx Inc), Plan of Reorganization and Asset Purchase Agreement (Sun River Mining Inc)
Obligations and Liabilities. On the Closing Date, Buyer will not assume or be obligated to satisfy or perform any liabilities, obligations or payables of Seller, other than to perform the contracts of the Business in accordance with their terms (collectively the “Assumed Liabilities”), subject to which the Buyer will acquire those secured by contracts on the PatentsClosing as part of the Acquired Assets.
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