Upon Closing, Buyer will be responsible for acquiring and maintaining appropriate insurance for the protection of the Acquired. Section. Page. 1. Recitals. 1. 2. Purchase of Assets. 1. 3.Purchase Price, Closing Date, and Closing. 3. 4. Virginia Asset Purchase Agreement Template. When you're involved in buying or selling a business's assets, make sure to utilize an asset purchase agreement. This ASSET PURCHASE AGREEMENT (this "Agreement") is dated as of September 5,.