Common use of Except for the Assumed Liabilities Clause in Contracts

Except for the Assumed Liabilities. the Buyer shall not assume any other Liabilities of the Seller, whether due or to become due, absolute or contingent, direct or indirect (the "Liabilities Not Assumed"), including but not limited to the following: (i) any liability or obligation arising from any third party product liability claim which claim is based upon an occurrence on or prior to the Closing Date; (ii) any liability for Taxes arising from the operation of the Business arising on or prior to the Closing Date; and (iii) any obligation or liability arising out of or relating to any employee grievance relating to periods on or prior to the Closing Date.