Liability Assumption Agreement Template for Canada

1. Insurance Requirements: Used when specific insurance coverage is required for the assumed liabilities

2. Security and Collateral: Include when additional security or collateral is required to support the assumption of liability

3. Regulatory Compliance: Required when the liability assumption involves regulated industries or activities

4. Third Party Consents: Include when third party approvals are needed for the liability transfer

5. Step-In Rights: Used when the transferor needs rights to step in and manage liabilities under specific circumstances

6. Environmental Provisions: Include when environmental liabilities are being assumed

7. Employee Matters: Required when employment-related liabilities are being transferred

8. Intellectual Property: Include when IP-related liabilities are part of the assumption

9. Transition Services: Used when temporary support is needed for liability management transition

1. Schedule A - Assumed Liabilities: Detailed list and description of all liabilities being assumed

2. Schedule B - Excluded Liabilities: List of specifically excluded liabilities

3. Schedule C - Existing Claims: List of known claims or pending litigation related to the assumed liabilities

4. Schedule D - Required Consents: List of required third-party consents and their status

5. Schedule E - Insurance Policies: Details of relevant insurance policies and coverage

6. Appendix 1 - Related Agreements: Copies or summaries of agreements giving rise to the assumed liabilities

7. Appendix 2 - Financial Statements: Relevant financial information related to the assumed liabilities

8. Appendix 3 - Compliance Certificates: Copies of relevant compliance certificates or regulatory approvals