Assumed Obligations definition
Examples of Assumed Obligations in a sentence
The Buyer’s assumption of the Assumed Obligations will in no way expand the rights or remedies of third parties against the Buyer as compared to the rights and remedies which such parties would have had against the Seller had the Transactions not been consummated.
The Seller has the requisite limited liability company power and authority to execute and deliver the Agreement and to perform its obligations under and pursuant to this Agreement and all documents required under the terms of this Agreement to be executed and delivered by the Seller in connection herewith, including the requisite limited liability company power and authority to sell the Purchased Assets and transfer the Assumed Obligations upon the terms and conditions set forth herein.
At the Closing, the Buyer and the Seller (and any Affiliate of the Seller which holds any of the Purchased Assets) will execute and deliver to each other a bill of sale and instrument of assignment and assumption pursuant to which the Seller will convey the Purchased Assets and assign the Assumed Obligations (to the extent legally transferable to the Buyer) to the Buyer and the Buyer will assume such obligations.
In consideration of the sale and purchase contemplated herein, the Buyer will assume or pay the Assumed Obligations as herein provided and the Buyer will pay to the Seller the Purchase Price as detailed in this Article III.
Each of the Buyer and Issuer has the requisite power and authority to execute, deliver and perform its obligations under and pursuant to this Agreement, and all documents executed and delivered by the Buyer and the Issuer in connection herewith, including the requisite power and authority to acquire the Purchased Assets and assume the Assumed Obligations upon the terms and conditions set forth herein.