Common use of Liabilities of the Transferor Clause in Contracts

Liabilities of the Transferor. Unless otherwise agreed herein, nothing herein shall: (1) Require Nesound and Kankan to perform any obligation which is due prior to the Contract Transfer Date or which should have been performed prior to the Closing Date; (2) Cause Nesound and Kankan to be liable for any loss arising out of any act, negligence, breach or omission of and under any Business Contract prior to the Closing Date, or any failure to obtain the recognition or consent from any third party for the execution of this Agreement, or any breach of the Business Contracts due to this Agreement or its closing; or (3) Cause Nesound and Kankan to assume any obligation due to or for any contract or service provided by the Transferor prior to the Closing Date. For the avoidance of doubt, the proceeds and costs actually earned and required to be paid by Kankan prior to the Closing Date with respect to the Business Contracts shall be enjoyed and borne by the Transferor.