Certain Liabilities or Contingencies Sample Clauses

Certain Liabilities or Contingencies. New Sections 4.21B and 4.21C are hereby added to the Option and Purchase Agreement to read in its entirety as follows: Section 4.21B Undisclosed Liabilities or Contingencies. Petro Source Corporation represents and warrants that to Petro Source Corporation's Current Actual Knowledge, upon Closing, neither Foreland Refining nor Petrosource Transportation have, or are liable for, any -11- 12 liabilities or contingencies, whether known or unknown, other than the Assumed Obligations, and Petro Source Corporation will indemnify and hold Foreland Refining and Petrosource Transportation harmless from any such liabilities or contingencies if such are discovered in the future, whether or not known by Petro Source Corporation at the Closing Date. Section 4.21C Certain Environmental Matters. Notwithstanding anything to the contrary in the Option and Purchase Agreement and this Agreement and without respect to the disclosures set forth in Schedule 4.18 or elsewhere to the Option and Purchase Agreement, Petro Source Corporation shall indemnify Foreland, Foreland Refining Corporation, and Petrosource Transportation and hold them harmless from all environmental matters with respect to the Business or Business Assets prior to the Closing Date in accordance with the provisions of the Environmental Indemnity Agreement executed and delivered by the parties at Closing.