Liabilities Assumed. (a) Purchaser shall assume and be responsible for the Assumed Liabilities arising after the Closing. (b) Except as provided in (a) above, Purchaser is assuming no Liabilities of Seller, and Seller expressly agrees to retain all Liabilities with respect to the Purchased Assets arising prior to the Closing.
Appears in 3 contracts
Sources: Asset Purchase Agreement (Fmi Holdings Ltd.), Asset Purchase Agreement (Forbes Medi-Tech Inc.), Asset Purchase Agreement (Forbes Medi-Tech Inc.)