Common use of ASSUMPTION OF SPECIFIC LIABILITIES Clause in Contracts

ASSUMPTION OF SPECIFIC LIABILITIES. At the Closing, Buyer shall assume and shall thereafter pay, discharge and perform in the ordinary course and without enlarging the rights of any third party, the liabilities and obligations appearing in Schedule 7.2 and the following liabilities and obligations (collectively, the “Assumed Liabilities”): (a) the Contracts, (b) the leases listed on Schedule 7.2(b), except that Buyer shall not be responsible for any payments under any such leases which relate to periods prior to the Closing; (c) the liabilities and obligations related to the operation of the Business and Assets incurred on or after the Closing Date; and (d) any and all other liabilities and obligations of any kind or nature, including but not limited to taxes, acts or omissions of Buyer and its Affiliates, accruing on or after the Closing Date regarding the Business and the Assets and Buyer’s obligations under this Agreement and any document executed pursuant hereto.