Obligations and Liabilities definition

Obligations and Liabilities means the amount equal to the sum of the amount of the liabilities for the payment of outstanding workers' compensation claims, including claims incurred but not yet reported, and the amount necessary to provide for the payment of the administration of those claims, including legal costs and expenses, initially incurred by the Certificate Holder as Certified Self-Insurer(s) under the Texas Workers' Compensation Act between

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedBook a Demo

Obligations and Liabilities whenever used herein in respect of the obligations and liabilities of one Person to another Person, are used in their most comprehensive sense and include all obligations and liabilities of that Person to the other Person heretofore, now or hereafter assumed, made, incurred or created, whether for or on account of any indebtedness of that Person to that other Person (and whether by way of any fee, charge, cost, damage, expense, interest, legal cost, advance or re-advance of principal, debt or otherwise), whether voluntary or involuntary and however arising, whether due or not due, absolute or contingent, liquidated or unliquidated, determined or undetermined, direct or indirect, express or implied, and whether that Person may be liable individually or jointly with others and whether recovery upon any such obligations and liabilities may be or hereafter becomes in any way unenforceable or irrecoverable and irrespective of the genuineness, validity or regularity thereof, of any security therefor or of the existence or extent of such security; and

Obligations and Liabilities. Buyer shall assume only such obligations and liabilities of the Seller as are expressly set forth in this Agreement, and no others.

Examples of Obligations and Liabilities in a sentence

• All obligations and liabilities arising out of or relating to the Assets other than the Assumed Obligations and Liabilities shall remain and be the obligations and liabilities solely of Seller (collectively, the “Retained Liabilities”).

• All obligations and liabilities, contingent, fixed or otherwise, arising out of or relating to the Assets or the Systems other than the Assumed Obligations and Liabilities will remain and be the obligations and liabilities of Seller (collectively, the "Excluded Liabilities").

• All obligations and liabilities ------------------------------------ arising out of or relating to the Assets, the Systems or the Business and all other liabilities and obligations of Seller and each Partner, other than the Assumed Obligations and Liabilities, shall remain and be the obligations and liabilities solely of Seller or the appropriate Partner (collectively, the "Retained Obligations and Liabilities").

• The parties will use reasonable good faith efforts to agree on the final allocation of the Purchase Price and the Assumed Obligations and Liabilities among the Assets within 60 days after delivery of Buyer's estimate of such allocation (the "Final Allocation").

• The foregoing indemnity shall survive the termination of the Loan Agreements and the other Loan Documents and the payment in full of the Obligations and Liabilities.

• Unless otherwise agreed to by the Purchaser, to the extent that any Contract is not assignable without Consent, this Agreement shall not constitute an assignment or an attempted assignment thereof, or an assumption or attempted assumption of Obligations and Liabilities arising thereunder, if such assignments or attempted assignment would constitute a breach thereof unless the necessary Consents are obtained.

• Section 7.3 Survival of Certain Obligations and Liabilities of the Defaulted Servicer...........................................

• Each of the Loan Parties hereby agrees and reaffirms that the Loan Documents to which it is a party now applies to all Obligations and Liabilities as defined in the applicable Loan Agreement, as modified hereby (including, without limitation, all additional Obligations and Liabilities hereafter arising or incurred pursuant to or in connection with either Loan Agreement or any other Loan Document).

• The Excluded Obligations and Liabilities shall remain the obligation of Seller.

• The Assumed Obligations and Liabilities shall include any of the foregoing obligations or liabilities that have accrued prior to the Closing but are not due and payable until after the Closing.

More Definitions of Obligations and Liabilities

Obligations and Liabilities means any loans including principal and interest, drafts, bonds or any other credit facility granted by the Bank to the Borrower for the purpose of financing the construction of a gas pipeline and related facilities from Uracoa to Macapaima.