Assumption of Obligations Agreement
An Assumption of Obligations Agreement is used in the purchase of a business when a buyer has agreed to assume the obligations and liabilities of the business following the closing.
- The purchaser agrees to assume and perform the obligations specified in the agreement after the closing.
- 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 is not a country-specific template and it can be used anywhere. Downloadable and editable to meet your needs.
Last Updated: 23-January-2021