Common use of Specification of Liabilities Assumed Clause in Contracts

Specification of Liabilities Assumed. Seller hereby agrees that Buyer has the right, but not the obligation, to assume, satisfy, and perform when due all liabilities, duties, contracts, agreements, and obligations of Seller arising or accruing from and after the Closing Date directly and solely related to the Lease Agreement and any purchase orders that had been received by the Seller prior to the Closing Date, which related to the purchase of products from the Business, if such purchase orders had not been fulfilled, in whole or in part, as of the Closing Date (collectively, the “Assumed Liabilities”). Buyer shall have no obligation to tender to Seller any economic benefit received by Seller in respect of fulfilling any such purchase orders.