Common use of Non-Assumption Clause in Contracts

Non-Assumption. At the Closing, the Buyer shall assume the liabilities of PHI and the Seller that relate to the operation of the Restaurants from and after the Closing Date (the “Assumed Liabilities”). Except as specifically contemplated by this Agreement, the Buyer will not assume any liabilities or obligations that arise from the operations of the Restaurants on or before the Closing Date, and the Seller agrees to timely perform all obligations relating to the Restaurants that arise out of operations of the Restaurants for the period prior to the Closing Date.

Non-Assumption. At the Closing, the Buyer shall assume the liabilities of PHI and the Seller Sellers that relate to the operation of the Restaurants from and after the Closing Date (the “"Assumed Liabilities”"). Except as specifically contemplated by this Agreement, the Buyer will not assume any liabilities or obligations that arise from the operations of the Restaurants on or before the Closing Date, and the Seller agrees Sellers agree to timely perform all obligations relating to the Restaurants that arise out of operations of the Restaurants for the period prior to the Closing Date.

Non-Assumption. At the Closing, the Buyer shall assume the liabilities of PHI and the Seller Sellers that relate to the operation of the Restaurants from and after the Closing Date (the “"Assumed Liabilities”"). Except as specifically contemplated by this Agreement, the Buyer will is not assume assuming any liabilities or obligations that arise from the operations operation of the Restaurants on or before the Closing Date, and the Seller agrees Sellers agree to timely perform all obligations relating to the Restaurants that arise out of operations of the Restaurants for the period prior to the Closing Date.