Common use of Assumption and Satisfaction of Liabilities Clause in Contracts

Assumption and Satisfaction of Liabilities. Except as set forth in the Administrative Services Agreement, the Tax Sharing Agreement or the other Related Agreements, effective as of and after the Distribution Date, (a) Healthcare shall assume, pay, perform and discharge in due course all of the Healthcare Liabilities, and (b) LTC shall pay, perform and discharge in due course all of the LTC Retained Liabilities.