Common use of Assumption of Liabilities and Obligations Clause in Contracts

Assumption of Liabilities and Obligations. As of the Closing ----------------------------------------- Date, Buyer shall assume and pay, discharge and perform the following: (collectively, the "Assumed Liabilities"): (i) all the obligations and liabilities of Seller arising on or after the Closing Date under the Governmental Permits and the Contracts; (ii) all obligations and liabilities of Seller arising on or after the Closing Date to all customers and advertisers of the System for any advance payments or deposits to the extent Buyer received a credit therefor pursuant to Section 2.5.4; (iii) all obligations and liabilities arising out of events occurring on or after the Closing Date related to Buyer's ownership of the Assets or its conduct of the business or operations of the System; and (iv) the obligations and liabilities listed on Schedule 2.6. All other obligations and liabilities of Seller shall remain and be the obligations and liabilities solely of Seller.

Assumption of Liabilities and Obligations. As of the Closing ----------------------------------------- Date, Buyer shall assume and pay, discharge and perform the following: following (collectively, the "Assumed LiabilitiesASSUMED LIABILITIES"): (i) all the obligations and liabilities of Seller arising on or after the Closing Date under the Governmental Permits and the Contracts; (iia) all obligations and liabilities of Seller arising on or under the Franchises and the Contracts related to the period after the Closing Date Closing; (b) all obligations and liabilities of Seller to all customers and advertisers of the System for any advance payments or deposits to the extent for which Buyer shall have received a credit therefor pursuant to the adjustments under Section 2.5.42.5; (iiic) all obligations and liabilities arising out of events occurring on or after the Closing Date related to Buyer's ownership of the Assets or its Buyer's conduct of the business or operations of the System; and (ivd) the obligations and liabilities listed on Schedule 2.6. All other obligations and liabilities of Seller shall remain and be the obligations and liabilities solely of Seller.