On the transfer date, the Medical System Corporation shall take all legal action necessary to assume the Montebello liabilities, but only to the extent expressly provided in this subtitle. The Medical System Corporation is not liable for any other debts, obligations, or liabilities of the State, the Maryland Department of Health, or the University incurred or arising in connection with Montebello prior to the transfer date. This assumption of liabilities shall be an assumption of the liabilities as they exist on the transfer date. This subsection shall be construed and applied to give effect to all provisions of law and defenses applicable to the liabilities prior to the transfer date. On the transfer date, the Medical System Corporation shall assume responsibility for those claims arising from the employment of Montebello University employees which relate to or arise from events occurring after the transfer date. Nothing contained in this subtitle shall be deemed or construed to waive or abrogate in any way the sovereign immunity of the State or to deprive the State or any officer or employee thereof of sovereign immunity.