Common use of Liabilities to Third Parties Clause in Contracts

Liabilities to Third Parties. for personal injury or tort, or similar causes of action, to the extent arising out of, associated with, relating to, or incurred in connection with (a) the ownership of the Assets or the operation of the Business prior to the Closing, or (b) the Seller’s removal of the Excluded Assets; provided, however, that as to any Buyer, Excluded Liabilities under this Section 2.4.2 shall not in any event include any Liabilities resulting from negligence or willful misconduct of that Buyer or any of its Affiliates or any of its respective Representatives committed during the course of any inspection of the Assets prior to the Closing Date.

Appears in 2 contracts

Sources: Asset Sale and Purchase Agreement (Holly Energy Partners Lp), Asset Sale and Purchase Agreement (Holly Corp)