Examples of Pre-Closing Product Liabilities in a sentence
The Seller shall pay the Company at closing $12,500.00 as reimbursement to the Company for the purchase of a product liability insurance tail policy to be in effect as of the Closing Date insuring the Company against any and all Pre-Closing Product Liabilities as defined herein with the same policy limits as currently exist per occurrence and in the aggregate and extending through the fifth (5th) anniversary of the Closing Date.
Pre-Closing Product Liabilities are those liabilities (whether known or unknown, whether asserted or unasserted, whether absolute or contingent, whether accrued or unaccrued, whether liquidated or unliquidated, and whether due or to become due) arising out of any injury to individuals or property as a result of the ownership, possession, or use of any product manufactured, sold or delivered by the Company prior to the Closing.
Neither Federated nor any of its Affiliates, nor any director, trustee, officer, employee, agent or other representative of any of them, shall hereby assume, or otherwise hereby become liable for, any Retained Liabilities and Pre-Closing Product Liabilities.
Seller shall, and the Class A Owners shall cause Seller to, retain all Retained Liabilities and, as applicable, the Pre-Closing Product Liabilities, and the Retained Liabilities and, as applicable, the Pre-Closing Product Liabilities, shall remain the sole responsibility of, and shall be paid, performed and discharged in a timely manner solely by, Seller.
Notwithstanding the disclosures made by the Sellers in Section 3B(aa) of the Disclosure Schedule, the Sellers shall cause the Company to have a product liability insurance tail policy in effect as of the Closing Date insuring the Company against any and all Pre-Closing Product Liabilities as defined under Section 3B(aa) with respect to injuries to property or persons occurring subsequent to Closing with the same policy limits as currently exist per occurrence and in the aggregate.
Neither Federated Hermes nor any of its Affiliates, nor any director, trustee, officer, employee, agent or other representative of any of them, shall hereby assume, or 312419107.19 otherwise hereby become liable for, any Liabilities of or relating to Seller, including Retained Liabilities and Pre-Closing Product Liabilities.
Franchisee shall have 10 days to implement all such changes to the menu(s).
To the best of Sellers' Knowledge, the Company has no material liabilities (whether known or unknown, whether asserted or unasserted, whether absolute or contingent, whether accrued or unaccrued, whether liquidated or unliquidated, and whether due or to become due) arising out of any injury to individuals or property as a result of the ownership, possession, or use of any product manufactured, sold or delivered by the Company prior to the Closing (the "Pre-Closing Product Liabilities").
Notwithstanding the disclosures made by the Sellers in section 3B(aa) of the Disclosure Schedule, the Sellers shall cause the Company to have a product liability insurance tail policy in effect as of the Closing Date insuring the Company against any and all Pre-Closing Product Liabilities as defined under section 3B(aa) with respect to injuries to property or persons occurring subsequent to Closing with the same policy limits as currently exist per occurrence and in the aggregate.