Definition of Excluded Contract Liabilities


Excluded Contract Liabilities means any Liability of the JV Entity or any of the JV Subsidiaries arising under (a) trade payables and other accounts payable of the JV Entity or any of the JV Subsidiaries, whether or not incurred in the ordinary course of business; or (b) a Covered Contract, other than any Liability resulting from the breach by the JV Entity or any of the JV Subsidiaries of a Covered Contract prior to the Closing Date.
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Examples of Excluded Contract Liabilities in a sentence

Excepting only the Excluded Contract Liabilities (defined below), ORTHO hereby assigns and transfers to BIOCRYST all of ORTHOs right, title and interest in and to, and obligations under, the Contracts.