Common use of ASSUMPTION OF SPECIFIC LIABILITIES Clause in Contracts

ASSUMPTION OF SPECIFIC LIABILITIES. Purchaser and SkyLynx agrees to perform all of the Sellers' contractual obligations related to the Assets and the Business to the extent, and only to the extent, such obligations have been expressly assumed by Purchaser or SkyLynx hereunder and that they first mature and are required to be performed by Purchaser or SkyLynx after the close of business on the Closing Date. Purchaser and SkyLynx agree to indemnify and hold Sellers harmless from all reasonable expenses, losses, costs, deficiencies, liabilities and damages, including attorneys' fees, arising solely from events occurring after the Closing related to Purchaser's ownership of the Assets and Purchaser's conduct of the Business.