Assumed Liabilities definition: Copy, customize, and use instantly
Introduction
The term "Assumed Liabilities" refers to debts, obligations, or responsibilities that one party agrees to take on as part of a transaction, typically in mergers, acquisitions, or asset purchases. These liabilities can be of various kinds, including financial obligations, contractual duties, or legal responsibilities.
Below are various examples of how "Assumed Liabilities" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Assumed Liabilities" as part of an acquisition agreement
This definition ties "Assumed Liabilities" to the terms of an acquisition.
"Assumed Liabilities" means the debts, obligations, and other liabilities that the buyer agrees to assume under the terms of the acquisition agreement, including but not limited to, outstanding loans, trade payables, and contractual obligations.
Definition of "Assumed Liabilities" as related to financial obligations
This definition connects "Assumed Liabilities" to financial responsibilities.
"Assumed Liabilities" refers to all outstanding financial obligations of the seller that the buyer agrees to take on, such as unpaid taxes, debts, or employee benefit obligations, as part of the transaction.
Definition of "Assumed Liabilities" as part of a debt restructuring
This definition links "Assumed Liabilities" to debt restructuring strategies.
"Assumed Liabilities" means any financial liabilities, including loans and credit obligations, that are transferred to the buyer or another party as part of a restructuring or reorganization plan.
Definition of "Assumed Liabilities" as part of an asset purchase
This definition applies "Assumed Liabilities" to asset purchase agreements.
"Assumed Liabilities" refers to specific liabilities of the seller that the buyer agrees to take on during an asset purchase transaction, typically outlined in the asset purchase agreement.
Definition of "Assumed Liabilities" as contractual obligations
This definition connects "Assumed Liabilities" to contractual agreements.
"Assumed Liabilities" means the ongoing contractual duties and obligations that the buyer agrees to assume from the seller, including supplier contracts, employee agreements, and other legal commitments.
Definition of "Assumed Liabilities" as related to legal claims
This definition links "Assumed Liabilities" to pending legal matters.
"Assumed Liabilities" refers to all legal obligations or liabilities that are being transferred from the seller to the buyer, including lawsuits, pending claims, or regulatory penalties that the buyer agrees to assume.
Definition of "Assumed Liabilities" as a transfer of risk
This definition ties "Assumed Liabilities" to risk assumption.
"Assumed Liabilities" means the risks associated with various obligations, such as debts or contractual disputes, that the buyer accepts as part of the transaction and agrees to manage after the deal closes.
Definition of "Assumed Liabilities" as specified in a purchase agreement
This definition connects "Assumed Liabilities" to contractual documentation.
"Assumed Liabilities" refers to the liabilities outlined in the purchase agreement that the buyer assumes from the seller, which may include operational debts and legal obligations.
Definition of "Assumed Liabilities" as contingent liabilities
This definition links "Assumed Liabilities" to future contingencies.
"Assumed Liabilities" means any liabilities that could arise in the future, such as contingent obligations or potential legal claims, that the buyer agrees to assume under the terms of the agreement.
Definition of "Assumed Liabilities" as post-closing obligations
This definition ties "Assumed Liabilities" to post-transaction responsibilities.
"Assumed Liabilities" refers to the financial and contractual obligations that the buyer agrees to assume after the transaction closes, including employee benefits and post-closing debts.
Definition of "Assumed Liabilities" as specific to environmental obligations
This definition connects "Assumed Liabilities" to environmental concerns.
"Assumed Liabilities" means environmental responsibilities, including cleanup costs and regulatory compliance fees, that the buyer agrees to assume as part of the transaction.
Definition of "Assumed Liabilities" as related to tax obligations
This definition links "Assumed Liabilities" to tax matters.
"Assumed Liabilities" refers to any tax liabilities, such as unpaid corporate taxes or sales taxes, that the buyer agrees to assume as part of the deal.
Definition of "Assumed Liabilities" as part of a joint venture
This definition ties "Assumed Liabilities" to joint venture arrangements.
"Assumed Liabilities" refers to the debts and obligations that are assumed by the parties involved in a joint venture, typically shared based on agreed-upon terms.
Definition of "Assumed Liabilities" as related to employee obligations
This definition connects "Assumed Liabilities" to workforce-related obligations.
"Assumed Liabilities" means any employee-related liabilities, such as pension liabilities, severance payments, or outstanding wage obligations, that the buyer assumes after the transaction.
Definition of "Assumed Liabilities" as insurance claims
This definition ties "Assumed Liabilities" to insurance matters.
"Assumed Liabilities" refers to any insurance claims or coverage responsibilities that the buyer agrees to take on, particularly for claims filed before the closing of the transaction.
Definition of "Assumed Liabilities" as due diligence obligations
This definition links "Assumed Liabilities" to the due diligence process.
"Assumed Liabilities" means any liabilities discovered during the due diligence process that the buyer agrees to assume, whether they pertain to litigation, debt, or other financial obligations.
Definition of "Assumed Liabilities" as warranties and representations
This definition connects "Assumed Liabilities" to contract warranties.
"Assumed Liabilities" refers to the liabilities arising from warranties and representations made by the seller, which the buyer agrees to assume after the sale.
Definition of "Assumed Liabilities" as operating liabilities
This definition links "Assumed Liabilities" to day-to-day operational expenses.
"Assumed Liabilities" means the ongoing operational liabilities, such as trade payables and lease obligations, that the buyer agrees to take on as part of the transaction.
Definition of "Assumed Liabilities" as indemnity obligations
This definition ties "Assumed Liabilities" to indemnity clauses.
"Assumed Liabilities" refers to liabilities that the buyer agrees to indemnify the seller against, ensuring that the seller is protected from financial obligations related to pre-closing activities.
Definition of "Assumed Liabilities" as legal settlements
This definition connects "Assumed Liabilities" to settlement agreements.
"Assumed Liabilities" refers to liabilities arising from legal settlements or judgments that the buyer agrees to assume and resolve after the transaction.
Definition of "Assumed Liabilities" as unrecorded obligations
This definition links "Assumed Liabilities" to off-balance-sheet obligations.
"Assumed Liabilities" means any unrecorded obligations or off-balance-sheet liabilities that the buyer agrees to assume as part of the deal.
Definition of "Assumed Liabilities" as costs of goods sold
This definition ties "Assumed Liabilities" to operational expenses.
"Assumed Liabilities" refers to the costs associated with goods sold, including supplier agreements, that the buyer agrees to take on as part of the transaction.
Definition of "Assumed Liabilities" as unfunded pension obligations
This definition connects "Assumed Liabilities" to pension-related responsibilities.
"Assumed Liabilities" means any unfunded pension liabilities or obligations that the buyer agrees to assume, including those related to retiree benefits.
Definition of "Assumed Liabilities" as customer-related obligations
This definition links "Assumed Liabilities" to customer contracts.
"Assumed Liabilities" refers to any obligations to customers, such as warranties or service agreements, that the buyer agrees to assume after the transaction.
Definition of "Assumed Liabilities" as related to franchise obligations
This definition connects "Assumed Liabilities" to franchise agreements.
"Assumed Liabilities" refers to any obligations the buyer agrees to assume under a franchise agreement, including franchise fees, royalties, and ongoing operational costs.
Definition of "Assumed Liabilities" as obligations related to intellectual property
This definition ties "Assumed Liabilities" to intellectual property assets.
"Assumed Liabilities" means the obligations associated with the transfer of intellectual property, including any ongoing licensing fees, infringement claims, or related legal disputes.
Definition of "Assumed Liabilities" as part of a seller's debts
This definition connects "Assumed Liabilities" to the seller's debt obligations.
"Assumed Liabilities" refers to all outstanding debts and obligations of the seller that the buyer agrees to assume, including but not limited to secured and unsecured liabilities.
Definition of "Assumed Liabilities" as a condition for asset transfer
This definition links "Assumed Liabilities" to the asset transfer process.
"Assumed Liabilities" means those liabilities that the buyer is obligated to take on in exchange for receiving certain assets from the seller, as stipulated in the asset transfer agreement.
Definition of "Assumed Liabilities" as related to supplier contracts
This definition ties "Assumed Liabilities" to supplier and vendor obligations.
"Assumed Liabilities" refers to the obligations arising from supplier and vendor contracts that the buyer agrees to assume as part of the transaction.
Definition of "Assumed Liabilities" as obligations from government agreements
This definition connects "Assumed Liabilities" to government contracts.
"Assumed Liabilities" means the liabilities arising from any government contracts, including regulatory compliance or performance guarantees, that the buyer agrees to assume.
Definition of "Assumed Liabilities" as future pension liabilities
This definition links "Assumed Liabilities" to pension responsibilities.
"Assumed Liabilities" refers to any future pension or retirement plan liabilities that the buyer assumes as part of the purchase of the seller's business or assets.
Definition of "Assumed Liabilities" as responsibility for ongoing litigation
This definition connects "Assumed Liabilities" to legal disputes.
"Assumed Liabilities" refers to any ongoing litigation or claims for which the buyer assumes responsibility, including court judgments or settlement obligations.
Definition of "Assumed Liabilities" as guarantees to third parties
This definition ties "Assumed Liabilities" to third-party guarantees.
"Assumed Liabilities" means any guarantees or indemnities provided to third parties that the buyer agrees to assume as part of the transaction, ensuring continued protection for those parties.
Definition of "Assumed Liabilities" as environmental remediation responsibilities
This definition links "Assumed Liabilities" to environmental obligations.
"Assumed Liabilities" refers to the buyer's assumption of any environmental remediation responsibilities, including cleanup costs or compliance with environmental regulations, as part of the transaction.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.