Common use of Creditors and liabilities Clause in Contracts

Creditors and liabilities. There are no liens on assets, the Securities, or obligations of Issuer, and that the Issuer has no liabilities of any sort whatsoever which have not been disclosed or provided to, the Buyer in written due diligence documents presented by the Issuer to the Buyer, and that all federal, state, and local, taxes (including, but not limited to, sales and payroll taxes), assessments, fines, penalties, if any, have been prepared, filed, and paid with the appropriate governmental authorities up to and through the date of Closing, or if such returns have not been filed, the Issuer has no taxable obligations.