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Liabilities definition: Copy, customize, and use instantly

Introduction

The term "Liabilities" refers to the financial obligations or debts that a party (often a company) is legally required to settle. This can include obligations arising from loans, contracts, or any other form of debt. Understanding liabilities is crucial in contracts as they define the financial responsibilities of the parties involved, ensuring clarity regarding payments and other obligations.

Below are various examples of how "Liabilities" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.

Definition of "Liabilities" as general financial obligations

This definition ties "Liabilities" to the general financial obligations of the party.

"Liabilities" means all debts, obligations, or other financial responsibilities of a party, including but not limited to loans, trade debts, taxes, and any other legal obligations arising from contracts or statutory duties.

Definition of "Liabilities" as incurred liabilities

This definition connects "Liabilities" to incurred financial responsibilities.

"Liabilities" refers to any debts or obligations incurred by a party, whether or not they have been paid, and includes liabilities arising from past activities, agreements, or other events that have caused financial responsibility.

Definition of "Liabilities" as contingent liabilities

This definition links "Liabilities" to potential obligations that may arise under certain conditions.

"Liabilities" means all liabilities that are contingent upon certain events or conditions occurring, including guarantees, pending litigation, or other obligations that may become payable in the future.

Definition of "Liabilities" as liabilities in connection with a merger or acquisition

This definition applies "Liabilities" to corporate mergers and acquisitions.

"Liabilities" refers to any debts, financial obligations, or liabilities assumed by a company as part of a merger or acquisition, including those relating to employees, contracts, and pending or potential claims.

Definition of "Liabilities" as environmental liabilities

This definition ties "Liabilities" to environmental-related financial obligations.

"Liabilities" means any financial obligations or responsibilities arising from environmental laws or regulations, including cleanup costs, fines, or liabilities for damages caused by environmental hazards or violations.

Definition of "Liabilities" as tax liabilities

This definition connects "Liabilities" to tax-related obligations.

"Liabilities" refers to any unpaid or outstanding tax obligations, including income, sales, payroll, or any other taxes due to governmental authorities, whether incurred by the party or assumed as part of a transaction.

Definition of "Liabilities" as liabilities for indemnification

This definition links "Liabilities" to indemnification obligations.

"Liabilities" means any amounts a party is required to pay as a result of indemnification obligations under this agreement, including costs related to lawsuits, claims, or any other legal proceedings.

Definition of "Liabilities" as current liabilities

This definition applies "Liabilities" to short-term financial obligations.

"Liabilities" refers to all debts or obligations that are due and payable within the next 12 months, including accounts payable, short-term loans, and other financial obligations that are due in the short term.

Definition of "Liabilities" as long-term liabilities

This definition ties "Liabilities" to long-term financial obligations.

"Liabilities" means all debts or financial obligations that are due after more than one year, including long-term loans, deferred tax liabilities, and other financial commitments due beyond the current fiscal year.

Definition of "Liabilities" as liquidated liabilities

This definition links "Liabilities" to fixed financial obligations.

"Liabilities" refers to those obligations that are fixed and determined, often through a court judgment or contractual agreement, and are not contingent on future events or conditions.

Definition of "Liabilities" as joint and several liabilities

This definition connects "Liabilities" to shared financial responsibility.

"Liabilities" means any debts or obligations where two or more parties are jointly and severally responsible, meaning each party is individually liable for the entire amount of the liability.

Definition of "Liabilities" as unsecured liabilities

This definition ties "Liabilities" to obligations not backed by collateral.

"Liabilities" refers to any debts or obligations that are not secured by any assets or collateral, including unsecured loans or other forms of financing that do not involve a claim on the party’s property.

Definition of "Liabilities" as liabilities in connection with employee benefits

This definition links "Liabilities" to employee-related obligations.

"Liabilities" means all financial obligations related to employee benefits, including pension plans, healthcare costs, and other post-employment benefits that the company is obligated to provide under applicable laws or agreements.

Definition of "Liabilities" as liabilities arising from defaults

This definition applies "Liabilities" to financial obligations from default.

"Liabilities" refers to any debts, obligations, or payments that a party owes as a result of its failure to meet its contractual obligations or defaults in performance under any agreements or commitments.

Definition of "Liabilities" as deferred liabilities

This definition connects "Liabilities" to postponed obligations.

"Liabilities" means any financial obligations that have been deferred or delayed to a future date, including deferred tax liabilities or obligations resulting from deferred payments or revenue.

This definition links "Liabilities" to legal actions.

"Liabilities" refers to any financial responsibilities or obligations arising from legal proceedings, including settlements, judgments, or fines that a party is required to pay as a result of legal actions.

Definition of "Liabilities" as accrued liabilities

This definition applies "Liabilities" to expenses recognized over time.

"Liabilities" means any expenses or obligations that have been incurred but not yet paid or settled, including wages, utilities, or other accrued costs related to ongoing operations.

Definition of "Liabilities" as contractual liabilities

This definition ties "Liabilities" to obligations under contracts.

"Liabilities" refers to any obligations that arise from contracts, agreements, or other legally binding arrangements, which require the party to make payments or perform services according to the terms of the contract.

Definition of "Liabilities" as associated with credit facilities

This definition connects "Liabilities" to credit-related obligations.

"Liabilities" means any outstanding debts or obligations under credit facilities, including lines of credit, term loans, or revolving credit agreements.

Definition of "Liabilities" as contingent financial obligations

This definition ties "Liabilities" to potential future financial responsibilities.

"Liabilities" means any obligations that depend on the occurrence of a future event, including contingent liabilities arising from lawsuits, disputes, or warranties.

Definition of "Liabilities" as contractual obligations

This definition connects "Liabilities" to obligations under a contract.

"Liabilities" refers to any debts or obligations a party is required to pay or fulfill according to the terms of a legally binding contract.

Definition of "Liabilities" as indemnity obligations

This definition links "Liabilities" to indemnity responsibilities.

"Liabilities" means any financial obligations that arise from indemnifying a party for damages, losses, or expenses incurred due to specific actions or omissions.

Definition of "Liabilities" as environmental compliance obligations

This definition applies "Liabilities" to environmental law compliance.

"Liabilities" refers to financial obligations that result from the need to comply with environmental laws or regulations, including clean-up costs and penalties for non-compliance.

Definition of "Liabilities" as financial obligations to third parties

This definition ties "Liabilities" to debts owed to external parties.

"Liabilities" means any debts, obligations, or financial responsibilities a party has towards third parties, including vendors, contractors, or regulatory agencies.

This definition connects "Liabilities" to tax liabilities.

"Liabilities" refers to any financial obligations a party has regarding taxes, including federal, state, or local taxes, and related interest or penalties.

Definition of "Liabilities" as debt obligations

This definition links "Liabilities" to general debt.

"Liabilities" means any amounts owed by a party in the form of loans, bonds, or other debts that must be repaid under the terms of borrowing agreements.

Definition of "Liabilities" as obligations for accrued expenses

This definition ties "Liabilities" to unpaid expenses.

"Liabilities" refers to expenses that have been incurred but not yet paid, such as salaries, utilities, or service charges that are recognized on the balance sheet.

This definition connects "Liabilities" to obligations toward shareholders.

"Liabilities" means any financial obligations a company has toward its shareholders, such as dividend payments or share repurchases under shareholder agreements.

Definition of "Liabilities" as contractual debt service obligations

This definition applies "Liabilities" to service debt under contracts.

"Liabilities" refers to amounts a party is obligated to pay in the form of debt service under a loan agreement, including principal and interest payments.

Definition of "Liabilities" as penalties and fines

This definition links "Liabilities" to penalties and fines.

"Liabilities" means any financial obligations arising from penalties or fines due to legal violations, regulatory breaches, or other forms of non-compliance with applicable laws.

Definition of "Liabilities" as obligations from breach of contract

This definition ties "Liabilities" to contract breach consequences.

"Liabilities" refers to financial obligations that arise due to a party's breach of contract, including damages, penalties, and any other related compensation.

This definition connects "Liabilities" to employment obligations.

"Liabilities" means any financial obligations arising from employment relationships, including wages, severance, retirement benefits, and other employee-related expenses.

Definition of "Liabilities" as claims liabilities

This definition links "Liabilities" to claims-related financial responsibilities.

"Liabilities" refers to any financial obligations arising from pending or anticipated claims, including claims for damages, compensation, or restitution.

This definition ties "Liabilities" to secured debt obligations.

"Liabilities" means any debts or obligations that are secured by collateral, including mortgages, liens, or any other security interest related to borrowed funds.

Definition of "Liabilities" as obligations resulting from product warranties

This definition connects "Liabilities" to product warranties.

"Liabilities" refers to financial obligations a party assumes as a result of warranties provided on products, including repair costs, replacements, or claims for product defects.

This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.

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