Let me help you here, 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 any 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 information on what an Asset Purchase Agreement actually is:
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