Contractual Liabilities. Seller's liabilities and obligations arising on and after the Closing Date under and pursuant to the Assumed Contracts, provided that Buyer shall not assume any obligation to deliver products or services with respect to which any payment has been made prior to the Closing Date, unless (i) Seller shall remit the amount of such payments to Buyer or (ii) a direct credit in such amount shall be provided to Buyer in the Purchase Price (as hereinafter defined).
Appears in 2 contracts
Sources: Asset Purchase Agreement (Hemacare Corp /Ca/), Asset Purchase Agreement (Hemacare Corp /Ca/)