{"component": "clause", "props": {"groups": [{"samples": [{"hash": "lxw6e0qYjCG", "uri": "/contracts/lxw6e0qYjCG#retained-liabilities", "label": "Asset Purchase Agreement (Synta Pharmaceuticals Corp)", "score": 18.0, "published": true}, {"hash": "jaJCtpaM8Gk", "uri": "/contracts/jaJCtpaM8Gk#retained-liabilities", "label": "Asset Purchase Agreement (Synta Pharmaceuticals Corp)", "score": 18.0, "published": true}, {"hash": "d0GjZZYS0oI", "uri": "/contracts/d0GjZZYS0oI#retained-liabilities", "label": "Asset Purchase Agreement (Synta Pharmaceuticals Corp)", "score": 18.0, "published": true}], "snippet": "The liabilities and obligations which shall be retained by each of the Sellers (the \"Retained Liabilities\") shall consist of all liabilities of such Seller other than Assumed Liabilities, including, without limitation, the following:\n(a) all liabilities of each Seller relating to indebtedness for borrowed money whether or not such liabilities are reflected on the Seller Financial Statements;\n(b) all liabilities of each Seller or the Stockholder resulting from, constituting or relating to a breach of any of the representations, warranties, covenants or agreements of the such Seller or the Stockholder under this Agreement;\n(c) all liabilities of each Seller for Taxes, including any gain and income from the sale of the Assets and other transactions contemplated herein;\n(d) all liabilities for all environmental, ecological, health, safety, products liability (except as specifically referred to herein) or other claims pertaining to the Business or the Purchased Assets which relate to time periods or events occurring on or prior to the Closing Date;\n(e) all liabilities of each Seller arising in connection with its operations unrelated to the Business and all liabilities (including any liability pursuant to any claim, litigation or proceeding) in connection with the operation of the Business prior to the Closing except as otherwise specifically provided herein and any liability of such Seller based on its tortuous or illegal conduct;\n(f) any liability or obligation incurred by each Seller in connection with the negotiation, execution or performance of this Agreement, including, without limitation, all legal, accounting, brokers', finders' and other professional fees and expenses;\n(g) all liabilities incurred by each Seller after the Closing Date;\n(h) all liabilities or obligations associated with a Seller's employees, including but not limited to any liability or obligation under or with respect to any collective bargaining agreement, employment agreement, unemployment or workers' compensation laws, or any liability or obligation arising from the decision of Buyer not to offer employment to any such employees; and\n(i) all liabilities and obligations arising out of, resulting from, or relating to any employee benefit plan, program, or arrangement maintained or contributed to by each Seller, or any entity which is or has been aggregated with 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circumstances occurring on or prior to the Closing Date, (ii) any such Liability arising out of the employment, terms or conditions of employment, or termination of employment of any Person, or the failure to employ any Person, including, severance, the Worker Adjustment and Retraining Act, income tax withholding, payroll and/or unemployment tax, workers\u2019 compensation, salary or consulting fees, pension, profit-sharing, accrued, earned or unused vacation or sick leave, health insurance or any other employee or employee benefit Liabilities, withdrawal Liability, Liability to the PBGC, Liability under Section 412 of the Code or Section 102 (a)(2) of ERISA or other similar Liability or expense, (iii) any such Liability for any period of time for Taxes, penalties or interest (including without limitation any property or sales Tax Liability, penalty or interest), (iv) any such Liability for expenses, debts or obligations incurred within or outside the Ordinary Course of Business and (v) any such Liability pursuant to Environmental, Health, and Safety Laws. Purchaser shall not become a party to any Employee Benefit Plan as a result of any of the transactions contemplated by this Agreement. All such Liabilities of Seller described above in this Section 2.5 shall be referred to herein collectively as the \u201cRetained Liabilities\u201d.", "size": 22, "snippet_links": [{"key": "except-for-the-assumed-liabilities", "type": "clause", "offset": [0, 34]}, {"key": "pro-rata-portion", "type": "clause", "offset": [51, 67]}, {"key": "shared-liabilities", "type": "definition", "offset": [75, 93]}, {"key": "understood-and-agreed-that", "type": "clause", "offset": [136, 162]}, {"key": "with-respect-to", "type": "clause", "offset": [217, 232]}, {"key": "liability-of-the-seller", "type": "clause", "offset": [237, 260]}, {"key": "the-nature", "type": "clause", "offset": [276, 286]}, {"key": "in-connection-with", "type": "clause", "offset": [338, 356]}, {"key": "related-to", "type": "definition", "offset": [377, 387]}, {"key": "operation-of-the-business", "type": "clause", "offset": [402, 427]}, {"key": "the-acquired-assets", "type": "clause", "offset": [471, 490]}, {"key": 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"type": "clause", "offset": [1665, 1686]}, {"key": "the-transactions-contemplated-by-this-agreement", "type": "clause", "offset": [1709, 1756]}, {"key": "liabilities-of-seller", "type": "clause", "offset": [1767, 1788]}], "hash": "7c5677b0b819d4092e9f614bf5716d21", "id": 5}, {"samples": [{"hash": "ngj681iBHz", "uri": "/contracts/ngj681iBHz#retained-liabilities", "label": "Agreement of Purchase and Sale (Bell Industries Inc /New/)", "score": 18.0, "published": true}, {"hash": "f47P71RCt8Z", "uri": "/contracts/f47P71RCt8Z#retained-liabilities", "label": "Agreement of Purchase and Sale (Arrow Electronics Inc)", "score": 18.0, "published": true}, {"hash": "d3RpAxhDphu", "uri": "/contracts/d3RpAxhDphu#retained-liabilities", "label": "Purchase Agreement (Arrow Electronics Inc)", "score": 18.0, "published": true}], "snippet": "Notwithstanding anything in this Agreement to the contrary, Purchaser shall not assume by virtue of this Agreement or the transactions contemplated hereby, and shall 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The Retained Liabilities shall include:\n(a) all Liabilities for which any Seller expressly has responsibility pursuant to the terms of this Agreement or any Ancillary Implementing Agreement, including all Liabilities for which the Sellers have responsibility pursuant to Section 6.6;\n(b) all Liabilities of any Seller or Conveyed Subsidiary (or Subsidiaries thereof) to the extent related to or arising out of (i) the Excluded Assets (other than any Liabilities for which Purchaser or its Affiliates expressly has responsibility pursuant to the terms of this Agreement or any Ancillary Agreement, and other than any Liabilities that are separately allocated pursuant to any other agreement or transaction related to such Excluded Assets between Seller Parent or any of its Affiliates, on the one hand, and Purchaser or any of its Affiliates, on the other hand, including any commercial or other agreements unrelated to this Agreement), including Environmental Liabilities, whether arising prior to, on or after the Closing, to the extent arising out of or related to the ownership or occupancy of the Retained Facilities (the \u201cRetained Facilities Environmental Liabilities\u201d) or (ii) the matters set forth on Section 2.5(b)(ii) of the Seller Disclosure Letter (the \u201cRetained Environmental Liabilities\u201d);\n(c) all Seller Indemnified Taxes;\n(d) all Seller Transaction Expenses;\n(e) Seller Parent\u2019s portion of Shared Contractual Liabilities pursuant to Section 2.2(d);\n(f) all Indebtedness of Seller Parent and its Affiliates (including the Conveyed Subsidiaries and their Subsidiaries) that are not Assumed Liabilities under Section 2.4; and\n(g) all Liabilities of Seller Parent or any of its Affiliates (including the Conveyed Subsidiaries and their Subsidiaries) set forth in Section 2.5(g) of the Seller Disclosure Letter.", "size": 109, "snippet_links": [{"key": "in-this-agreement", "type": "definition", "offset": [30, 47]}, {"key": "article-vii", "type": "clause", "offset": [64, 75]}, {"key": "the-sellers", "type": "clause", "offset": [77, 88]}, {"key": "of-purchaser", "type": "clause", "offset": [112, 124]}, {"key": "responsible-for", "type": "clause", "offset": [169, 184]}, {"key": "pursuant-to-this-agreement", "type": "clause", "offset": [185, 211]}, {"key": "liabilities-of-sellers", "type": "clause", "offset": [217, 239]}, {"key": "assumed-liabilities", "type": "definition", "offset": [282, 301]}, {"key": "liabilities-for", "type": "clause", "offset": [433, 448]}, {"key": "agreement-or", "type": "definition", "offset": [525, 537]}, {"key": "implementing-agreement", "type": "clause", "offset": [552, 574]}, {"key": "section-66", "type": "clause", "offset": [656, 667]}, {"key": "to-the-extent", "type": "clause", "offset": [752, 765]}, {"key": "related-to", "type": "definition", "offset": [766, 776]}, {"key": "arising-out-of", "type": "definition", "offset": [780, 794]}, {"key": "the-excluded-assets", "type": "clause", "offset": [799, 818]}, {"key": "ancillary-agreement", "type": "definition", "offset": [961, 980]}, {"key": "any-other-agreement", "type": "definition", "offset": [1055, 1074]}, {"key": "transaction-related", "type": "clause", "offset": [1078, 1097]}, {"key": "seller-parent", "type": "definition", "offset": [1130, 1143]}, {"key": "the-other-hand", "type": "clause", "offset": [1230, 1244]}, {"key": "other-agreements", "type": "definition", "offset": [1274, 1290]}, {"key": "prior-to", "type": "clause", "offset": [1374, 1382]}, {"key": "after-the-closing", "type": "clause", "offset": [1390, 1407]}, {"key": "retained-facilities", "type": "definition", "offset": [1486, 1505]}, {"key": "seller-disclosure-letter", "type": "definition", "offset": [1619, 1643]}, {"key": "retained-environmental-liabilities", "type": "clause", "offset": [1650, 1684]}, {"key": "seller-indemnified-taxes", "type": "definition", "offset": [1696, 1720]}, {"key": "seller-transaction-expenses", "type": "clause", "offset": [1730, 1757]}, {"key": "shared-contractual-liabilities", "type": "definition", "offset": [1790, 1820]}, {"key": "indebtedness-of-seller", "type": "clause", "offset": [1857, 1879]}, {"key": "conveyed-subsidiaries", "type": "definition", "offset": [1921, 1942]}, {"key": "section-24", "type": "definition", "offset": [2006, 2017]}], "hash": "1083c74c70a515daa42bdae7bbd57180", "id": 3}, {"samples": [{"hash": "cMsJYn5kvQZ", "uri": "/contracts/cMsJYn5kvQZ#retained-liabilities", "label": "Asset Purchase Agreement (New Horizons Worldwide Inc)", "score": 21.0, "published": true}], "snippet": "Buyer shall not be obligated to pay, perform or abide by, and Seller shall retain exclusive responsibility for, any Liabilities, debts, obligations, undertakings or commitments of Seller (the \u201cRetained Liabilities\u201d), other than the Assumed Liabilities. The Retained Liabilities shall include, but not be limited to, the following:\n(1) Any Tax imposed by or payable to any Governmental Authority with respect to any period ending on or prior to the Effective Date;\n(2) Any Liability or obligation accruing, arising out of or relating to any fact or circumstance which occurred on or prior to the Effective Date in respect to (a) Liabilities and obligations to employees of Seller, including those for accident, disability, health (including unfunded medical liabilities) and worker\u2019s compensation insurance or benefits, and all other Liabilities and obligations to employees arising from facts or circumstances which occurred on or prior to the Effective Date, (b) any Employee Benefit Plan or any other employee benefit arrangement or commitment which is or has been maintained or contributed to by Seller, (c) any portion of any bonuses earned or accrued upon the basis of any events occurring on or prior to the Effective Date, (d) any accrued vacation benefits, (e) any obligation to reimburse any employee for expenses incurred on or prior to the Effective Date, or (f) any obligation to pay sales commissions to employees on account of sales made on or prior to the Effective Date and with respect to which sales Seller has received payment on or prior to the Effective Date;\n(3) Liabilities and obligations arising from or relating to claims or Liabilities for benefits or pay under any severance arrangement of or binding upon Seller, including those related to any alleged wrongful termination of employment solely as a result of the transactions contemplated hereby including Workers Adjustment Retraining and Notification Act (the \u201cWARN Act\u201d) liabilities and obligations;\n(4) Any Liability or obligation which, absent this provision, comprises a part of the Assumed Liabilities but which is covered by any insurance policy maintained by Seller or any of Seller\u2019s Affiliates (but, then, only to the extent of such insurance coverage and the amount of any deductible or self-insured retention);\n(5) Any (a) inter-company charges or amounts due to Parent or any Affiliate of Seller or Parent, (b) claims relating to inter-franchise payment obligations which are based on the non-payment of amounts owing any other franchisee of the Franchisor, except to the extent that amounts therefor are included in the calculation of the Final Closing Working Capital, (c) amounts due for borrowed money, (d) obligations arising under any agreement, instrument or other contractual undertaking or commitment that is not an Assigned Contract or which is not an Assumed Liability, (e) inter-franchise obligations relating to payment for training provided by franchisees of the Franchisor other than Buyer or its Affiliates upon redemption of national training coupons sold by Seller on or prior to the Effective Date in circumstances where the same are redeemed more than one (1) year after the issuance of such coupons.\n(6) Any Accounts Payable not included in the calculation of the Final Closing Working Capital or not included in the reduction to the Cash Purchase Price as provided in Section 3.1(A);\n(7) Any (a) Liability or obligation to indemnify any director, officer, employee or agent of Seller, except with regard to indemnification obligations owed to Seller from Buyer arising under this Agreement, (b) with respect to periods ending on or prior to the Effective Date, Liability arising out of or in connection with any violation of a statute or governmental rule, regulation, directive or other requirement, and any Liability or obligation of a conditional, contingent or similar nature, or (c) Liability or obligation which arises from or is based on a claim for injury to or death of persons, or damage to or destruction of property, regardless of when asserted, but which arises from facts or circumstances which occurred on or prior to the Effective Date;\n(8) Any Liability of Seller or its Affiliates to the 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Transaction Documents or any other writing to the contrary, and regardless of any information disclosed to the Acquiring Parties or any of their respective Affiliates or representatives, neither Acquiror nor any Affiliates of Acquiror assumes, and Acquiror and Affiliates of Acquiror shall not at any time hereafter (including on or after the Closing) become liable or responsible for, any Liabilities of any of the Transferor Parties other than the Assumed Liabilities (such unassumed Liabilities, the \u201cRetained Liabilities\u201d). 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For purposes of this Agreement, \u201cRetained Liability Tax Benefit\u201d means a reduction in the amount of Taxes that are required to be paid or increase in refund due, whether resulting from a deduction, credit, increased basis, or otherwise. For purposes of this Agreement, Spinco will be deemed to have actually realized a Retained Liability Tax Benefit at the time the amount of Taxes Spinco is required to pay is reduced or the amount of any refund due is increased. The amount of any Retained Liability Tax Benefit in this Section 2.5 shall be calculated by comparing (i) Spinco\u2019s actual Tax liability taking into account any Retained Liability Payment with (ii) what Spinco\u2019s Tax liability would have been without taking into account any Retained Liability Payment. If, pursuant to this Agreement, Spinco makes a remittance to PNX of any Retained Liability Tax Benefit and all or part of such Retained Liability Tax Benefit is subsequently disallowed, PNX will promptly pay to Spinco that portion of such remittance equal to the portion of the Retained Liability Tax Benefit that is disallowed.", "size": 19, "snippet_links": [{"key": "to-the-extent", "type": "clause", "offset": [0, 13]}, {"key": "payments-made-by", "type": "clause", "offset": [23, 39]}, {"key": "in-respect-of", "type": "definition", "offset": [44, 57]}, {"key": "retained-liability-payment", "type": "definition", "offset": [87, 113]}, {"key": "retained-liability-tax-benefit", "type": "definition", "offset": [132, 162]}, {"key": "taxable-period", "type": "clause", "offset": [180, 194]}, {"key": "remit-to", "type": "definition", "offset": [217, 225]}, {"key": "tax-benefit-actually-realized", "type": "definition", "offset": [272, 301]}, {"key": "for-purposes-of-this-agreement", "type": "definition", "offset": [303, 333]}, {"key": "reduction-in", "type": "definition", "offset": [376, 388]}, {"key": "resulting-from", "type": "definition", "offset": [473, 487]}, {"key": "at-the-time", "type": "clause", "offset": [653, 664]}, {"key": "to-pay", "type": "clause", "offset": [704, 710]}, {"key": "actual-tax-liability", "type": "definition", "offset": [883, 903]}, {"key": "pursuant-to-this-agreement", "type": "clause", "offset": [1073, 1099]}, {"key": "pay-to", "type": "definition", "offset": [1273, 1279]}, {"key": "equal-to", "type": "definition", "offset": [1319, 1327]}], "hash": "64d72bfb12ae3563cdeef6c4fe75f3be", "id": 7}, {"samples": [{"hash": "dDINjB8IxoV", "uri": "/contracts/dDINjB8IxoV#retained-liabilities", "label": "Time Brokerage Agreement (Regent Communications Inc)", "score": 16.0, "published": true}, {"hash": "3YFi9vHTypc", "uri": "/contracts/3YFi9vHTypc#retained-liabilities", "label": "Time Brokerage Agreement (Regent Communications Inc)", "score": 16.0, "published": true}], "snippet": "Except as set forth in Sections 11 and 12 hereof, Broker expressly does not, and shall not, assume or agree to pay, satisfy, discharge or perform and will not be deemed by virtue of the execution and delivery of this Agreement or any agreement, instrument or document delivered pursuant to or in connection with this Agreement or otherwise by reason of or in connection with the consummation of the transactions contemplated hereby or thereby, to have assumed or to have agreed to pay, satisfy, discharge or perform, any liabilities, obligations or commitments of Licensee of any nature whatsoever whether accrued, absolute, contingent or otherwise and whether or not disclosed by Broker, other than the Station Agreements. Licensee will retain and pay, satisfy, discharge and perform in accordance with the terms thereof, all liabilities and obligations of the Licensee, other than the Station Agreements, including but not limited to, the obligation to assume, perform, satisfy or pay any liability, obligation, agreement, debt, charge, claim, judgment or expense incurred by or asserted against Licensee related to taxes, environmental matters, pension or retirement plans or trusts, profit-sharing plans, employment contracts, employee benefits, severance of employees, product liability or warranty, negligence, contract breach or default, copyright, trademarks, service mark, \u2587\u2587ade name and other intellectual property, or other obligations, claims or judgments asserted against Broker as successor in interest to Licensee. 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