Assumption of Obligations Agreement

Are you selling your business to a buyer who has agreed to assume certain obligations or liabilities of the business following the closing? Have the buyer sign this Assumption of Obligations Agreement to clearly set out the buyer's responsibilities and to protect yourself in the event that the buyer defaults. Each of the parties indemnifies the other party against claims or actions, with the seller indemnifying the buyer up until the time of closing, and the buyer indemnifying the seller from the time of closing on. This Assumption of Obligations Agreement template is available as a MS Word form, and is fully editable to fit your business needs.