Liabilities definition
Examples of Liabilities in a sentence
To the extent that the undertakings to indemnify and hold harmless set forth in this Section 10.05 may be unenforceable in whole or in part because they are violative of any applicable Laws or public policy, the Borrower shall contribute the maximum portion that it is permitted to pay and satisfy under applicable Laws to the payment and satisfaction of all Indemnified Liabilities incurred by the Indemnitees or any of them.
Upon the transfer, assignment and delivery of the Transferred Assets, the Trustees shall succeed to all of the Company’s and the Operating Trust’s right, title and interest in the Transferred Assets and the Liabilities and the Company and the Operating Trust will have no further interest in or with respect to the Transferred Assets or the Liquidating Trust Assets or this Liquidating Trust.
If Borrower has made any payments in respect of Indemnified Liabilities to any Indemnified Person pursuant to this Section 11.3 and such Indemnified Person thereafter collects any of such amounts from others or is found by a court of competent jurisdiction not to be entitled to such indemnification, such Indemnified Person will promptly repay such amounts collected to Borrower, without interest.
The Trustees shall withhold from any property (including cash) to be distributed under this Agreement any Liquidating Trust Assets as are reasonably necessary or appropriate, in the sole discretion of the Trustees, to fund and maintain the Contingency Reserve and shall hold such assets in trust pending resolution of all unknown or contingent Liabilities.
Except as set forth on Section 3.6 of the Schedules, none of the Acquired ServiceCo Entities owns any assets, has any Liabilities, or conducts any operations.