Examples of Closing Date Liabilities in a sentence
Seller shall remain fully responsible for any severance, benefits, costs or liabilities arising out of the termination by Seller of any of its employees, all of which liabilities shall constitute Closing Date Liabilities.
Effective as of immediately prior to the Closing Date, the Shareholders hereby assume all Closing Date Liabilities in excess of the amounts set forth on the Estimated Closing Date Balance Sheet without further action by any Shareholder, the Company or any other Person.
At the Closing Date, and after giving effect to the distribution of the Excluded Assets and the assumption of the Closing Date Liabilities pursuant to Section 4.7, all the properties, rights, privileges, powers, and franchises of the Company and the Acquiror shall vest in the Surviving Corporation, and all debts, liabilities, and duties of the Company and the Acquiror shall become the debts, liabilities, and duties of the Surviving Corporation.
From and after the Closing, Seller will continue to use its best efforts to negotiate discounts with respect to all Closing Date Liabilities so that the Closing Date Liabilities shall be less than the Withheld Amount, if reasonably practicable.
If the Closing Date Balance Sheet reflects Closing Date Liabilities that have not previously been paid by the Shareholders, such Closing Date Liabilities shall be paid at the time the adjusting payment is made under this Section 2.1(m), either by the Acquiror out of any adjusting payment due from it hereunder or, if no such payment is due or such payment is less than the unpaid Closing Date Liabilities, by the Shareholders.