Wednesday, November 03, 2010 7:57:15 PM
An asset purchase agreement is the written agreement by which one company buys another company.
Also, you need to read further there is no debt that was transferred or assumed by the buyer. It's always good to read the entire document before making such assumptions.
ARTICLE 3
EXCLUDED LIABILITIES
3.1 Excluded Liabilities.
Buyer shall not assume, discharge or become liable for any of the liabilities, obligations, debts, contracts or other commitments of Seller of any kind or nature whatsoever, known or unknown, fixed, accrued, contingent or otherwise, existing on, before or after the Closing Date or arising out of any transaction entered into, or any state of facts existing, on, before or after the Closing Date, which liabilities and obligations if ever in existence shall continue to be the liabilities and obligations of Seller (the “Excluded Liabilities”). Seller shall hold Buyer harmless and indemnify Buyer from the Excluded Liabilities any and all claims, including without limitation rejected and returned goods, arising from the sales of goods by Seller on or before the date of the Closing.
Here is some more information on what an Asset Purchase Agreement actually is:
http://asset-management.bestmanagementarticles.com/a-21321-what-is-an-asset-purchase-agreement.aspx
North Bay Resources Announces Composite Assays of 0.53 and 0.44 Troy Ounces per Ton Gold in Trenches B + C at Fran Gold, British Columbia • NBRI • Jun 18, 2024 9:18 AM
VAYK Assembling New Management Team for $64 Billion Domestic Market • VAYK • Jun 18, 2024 9:00 AM
Fifty 1 Labs, Inc Announces Acquisition of Drago Knives, LLC • CAFI • Jun 18, 2024 8:45 AM
Hydromer Announces Attainment of ISO 13485 Certification • HYDI • Jun 17, 2024 9:22 AM
ECGI Holdings Announces LOI to Acquire Pacific Saddlery to Capitalize on $12.72 Billion Market Potential • ECGI • Jun 13, 2024 9:50 AM
Fifty 1 Labs, Inc. Announces Major Strategic Advancements and Shareholder Updates • CAFI • Jun 13, 2024 8:45 AM