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.

Under this Agreement, each of the parties indemnifies the other 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 is a generic legal document in MS Word format, and is fully editable to fit your circumstances.