Assigned Contracts

Legal Definition:

Purchased Assets: The Purchased Assets shall include, without limitation, the following assets of Seller…all of Seller’s rights under the Contracts identified in Section x.x of the Disclosure Schedules.

Disclosure Schedules: [Contract title] between Seller and [other contract party] dated [date of contract] (each contract is specifically identified in this manner in the Disclosure Schedules).

Plain English Definition: This term is used as shorthand to refer to the group of contracts the Buyer has agreed to assume as part of the acquisition. The Assigned Contracts are typically defined in the Purchased Assets section of the Agreement and in the related Disclosure Schedules. In some purchase agreements this concept is captured using the term “Assumed Contracts.”