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Subscribers | 2002 |
Asset Sale Agreement
Asset Sale Agreement (490K)
Doc #848561: Click preview link for longer preview.
ASSET SALE AGREEMENT
THIS AGREEMENT made as of August 15, 2002,
AMONG:
VERITAS DGC INC., a body corporate incorporated under the laws of
Delaware ("Veritas DGC")
-and-
HAMPSON-RUSSELL LIMITED PARTNERSHIP, a limited partnership formed under
the laws of Alberta, by its general partner HAMPSON-RUSSELL GP INC., a
body corporate incorporated under the laws of Alberta (the "Canadian
Purchaser")
. . .
848561
|
Schlumberger
As referenced in this Asset Sale Agreement:
Schlumberger Technology Corp – dated February 24, 1994 between Globetrotter Software, Inc.
and Hampson-Russell relating to Globetrotter FLEXIm software.
7. GeoQuest Software Sale Agreement dated March 23, 1998 between GeoQuest,
a division of Schlumberger Technology Corp oration and Hampson-Russell
Software Services Ltd. relating to GeoFrame software.
8. Geoshare Developer's License Agreement No. GSH-0694-157-1 dated June
14, 1994 and Geoshare Software Support
_____________
Schlumberger Technology
Corp – 14, 1994 between GeoQuest, a division of Schlumberger Canada
Limited and Hampson-Russell Software Services Ltd. relating to Geoshare
Developer's Kit Software.
9. Agreement dated January 1, 1990 between Schlumberger Technology
Corp oration and Hampson-Russell Software Services, Limited relating to
INVEST software program.
10. Products License Agreement between Rational Software Corporation and
Hampson-Russell Software Services relating to Rational "Purify"
Software.
_____________
Schlumberger Technology
Corp – GLI3D.
o Maintenance Agreement dated May 13, 1993 between Hampson-Russell
Software Services Ltd. and Shell Oil Company relating to maintenance of
GLI3D.
o Agreement dated January 1, 1990 between Schlumberger Technology
Corp oration and Hampson-Russell Software Services Ltd. relating to
INVEST software program.
o Purchase Order Agreement dated September 22, 1998 between 1) Vastar
Resources Inc. and 2) Hampson-Russell Software
_____________
dt 1410835
;
Accpac
As referenced in this Asset Sale Agreement:
ACCPAC International, Inc. – Limited relating to
INVEST software program.
10. Products License Agreement between Rational Software Corporation and
Hampson-Russell Software Services relating to Rational "Purify"
Software.
11. End User License Agreement between ACCPAC International, Inc. and
Hampson-Russell relating to ACCPAC for small business series software.
12. Electronic mail addresses in Canada, Australia and Asia used by the
Vendors with the following structure: [first
_____________
dt 1313602
;
Accpac
As referenced in this Asset Sale Agreement:
ACCPAC International, Inc. – Limited relating to
INVEST software program.
10. Products License Agreement between Rational Software Corporation and
Hampson-Russell Software Services relating to Rational "Purify"
Software.
11. End User License Agreement between ACCPAC International, Inc. and
Hampson-Russell relating to ACCPAC for small business series software.
12. Electronic mail addresses in Canada, Australia and Asia used by the
Vendors with the following structure: [first
_____________
dt 1313615
;
|
Veritas DGC
As referenced in this Asset Sale Agreement:
VERITAS DGC INC. – 10
{SEQUENCE}3
{FILENAME}h99295exv10.txt
{DESCRIPTION}ASSET PURCHASE AGREEMENT DATED 8/15/2002
{TEXT}
{PAGE}
EXHIBIT 10
ASSET SALE AGREEMENT
THIS AGREEMENT made as of August 15, 2002,
AMONG:
VERITAS DGC INC. , a body corporate incorporated under the laws of
Delaware ("Veritas DGC")
-and-
HAMPSON-RUSSELL LIMITED PARTNERSHIP, a limited partnership formed under
the laws of Alberta, by its general partner
_____________
Veritas DGC Inc. – shall be given by personal service, e-mail or facsimile to the address set
forth below:
If to Veritas DGC and/or one or more of the Purchasers:
c/o Veritas DGC Inc.
10300 Town Park
Houston, Texas
77072
Attention: Brent Whiteley
Facsimile No.: (832) 351-8701
E-mail: brent_whiteley@veritasdgc.com
with a copy to: Bennett Jones LLP
4500, 855 - 2nd
_____________
VERITAS DGC INC. – of and be binding upon the
parties hereto and their respective successors.
IN WITNESS WHEREOF the parties have executed this Agreement all on the
day and year first above written.
VERITAS DGC INC.
Per:
--------------------------------
Per:
--------------------------------
VERITAS GEOPHYSICAL CORPORATION
Per:
--------------------------------
Per:
--------------------------------
HAMPSON-RUSSELL LIMITED
PARTNERSHIP, BY ITS PARTNER
HAMPSON-RUSSELL GP INC.
Per:
--------------------------------
Per:
--------------------------------
VERITAS DGC LTD.
Per:
--------------------------------
Per:
--------------------------------
VERITAS DGC AUSTRALIA PTY
_____________
Veritas DGC Inc. – all
or substantially all of the assets of the Canadian Vendor to Hampson-Russell
Limited Partnership (the "CANADIAN PURCHASER") pursuant to an asset sale
agreement dated August 15, 2002 among Veritas DGC Inc. , the Canadian Purchaser,
Veritas Geophysical Corporation, Veritas DGC Ltd., Veritas DGC Australia Pty
Limited, the Canadian Vendor, Hampson-Russell Software Services (U.S.) Inc.,
Hampson-Russell Software Services Ltd. (
_____________
Veritas DGC Inc. – of substantially all of the assets of
Hampson-Russell Software Services Ltd. (the "Canadian Vendor") to the Canadian
Purchaser pursuant to an asset sale agreement dated August 15, 2002 among
Veritas DGC Inc. (a Delaware corporation), the Canadian Purchaser, Veritas
Geophysical Corporation, Veritas DGC Ltd. (an England and Wales corporation),
Veritas DGC Australia Pty Limited, the Canadian Vendor, Hampson-Russell Software
Services (
_____________
dt 1441001
;
|
| Preview
Subscribers | 2002 |
Purchase Agreement
Purchase Agreement (258K)
Doc #137125: Click preview link for longer preview.
PURCHASE AGREEMENT
among
SCHLUMBERGER TECHNOLOGY CORPORATION
("Seller")
and
GRANT PRIDECO, INC.
("Purchaser Parent")
{PAGE}
TABLE OF CONTENTS
{TABLE}
{CAPTION}
PAGE
----
{S} {C}
ARTICLE I PURCHASE AND SALE.......................................................................................2
1.1 Purchase and Sale.............................................................................2
1.2 Limitation on Assignments.....................................................................2
1.3 Consideration/Allocation......................................................................3
1.4 Purchase Price Adjustment.....................................................................3
1.5 Excluded Assets...............................................................................6
1.6 Assumed and Excluded Liabilities..............................................................6
ARTICLE II REPRESENTATIONS AND WARRANTIES OF SELLER...............................................................7
2.1 Organization..................................................................................7
2.2 Capitalization; Seller's Ownership of Acquired Entities.......................................7
2.3 Subsidiaries..................................................................................7
2.4 Authority of Seller...........................................................................8
2.5 No Conflict/Consents..........................................................................8
2.6 Personal Property.............................................................................9
2.7 Real Property................................................................................10
2.8 Intellectual Property........................................................................11
2.9 Financial Statements.........................................................................12
2.10 Absence of Certain Changes and Events........................................................12
2.11 Taxes........................................................................................14
2.12 Litigation...................................................................................16
2.13 Employee Benefit Matters.....................................................................16
2.14 Material Contracts...........................................................................18
2.15 Warranties and Product Liability.............................................................20
2.16 Brokers......................................................................................20
2.17 Absence of Certain Payments..................................................................20
2.18 Employees....................................................................................20
2.19 Environmental................................................................................21
2.20 Environmental Permits........................................................................22
2.21 Compliance with Law; Authorizations..........................................................22
2.22 Securities/Resale............................................................................23
2.23 No Other Representations or Warranties.......................................................23
ARTICLE III REPRESENTATIONS AND WARRANTIES OF PURCHASER PARENT...................................................23
3.1 Organization.................................................................................23
3.3 Authority of Purchaser Parent................................................................23
3.4 Brokers......................................................................................24
3.5 No Conflict; Consents........................................................................24
3.6 Taxes........................................................................................24
3.7 Litigation...................................................................................24
3.8 Environmental................................................................................25
3.9 Compliance with Law; Authorizations..........................................................25
3.10 Securities/Resale............................................................................25
{/TABLE}
{PAGE}
TABLE OF CONTENTS
{TABLE}
{CAPTION}
PAGE
----
{S} {C}
3.11 Securities Representations...................................................................25
3.12 Issuance and Listing of Shares...............................................................26
3.13 No Other Representations or Warranties.......................................................26
ARTICLE IV COVENANTS OF SELLER...................................................................................26
4.1 Corporate and Other Actions..................................................................26
4.2 Full Access..................................................................................26
4.3 Ordinary Course of Business..................................................................26
4.4 Filings and Consents.........................................................................27
4.5 Employment Matters...........................................................................28
4.6 Covenant Not to Compete......................................................................28
4.7 Non-Solicitation of Employees................................................................29
4.8 Nondisclosure of Proprietary Information.....................................................29
4.9 Transition Services Agreement................................................................30
4.10 Registration Rights Agreement................................................................30
4.11 Financial Statements.........................................................................30
4.12 Insurance Matters............................................................................31
4.13 Cooperation on Financing.....................................................................31
4.14 Formation of Entities and Transfer of Assets.................................................32
4.15 Joint Contracts..............................................................................32
4.16 MFGPro.......................................................................................32
4.17 Union Negotiations...........................................................................32
ARTICLE V COVENANTS OF PURCHASER PARENT..........................................................................33
5.1 Corporate and Other Actions..................................................................33
5.2 Employees and Benefit Plans..................................................................33
5.3 Full Access..................................................................................35
5.4 Filings and Consents.........................................................................35
5.5 Use of Scorpion Name.........................................................................35
5.6 No Negotiation...............................................................................36
5.7 License Back of Transferred Intellectual Property............................................36
5.8 Continuation of Subsidiaries.................................................................37
ARTICLE VI CONDITIONS PRECEDENT TO OBLIGATIONS OF PURCHASER PARENT...............................................37
6.1 Warranties True As of Both Present Date and the Closing Date.................................37
6.2 Compliance with Agreements and Covenants.....................................................37
6.3 Competition Law Approvals....................................................................37
6.4 Injunctions..................................................................................37
6.5 Deliveries by Seller.........................................................................37
6.6 Consents.....................................................................................38
6.7 Removal of Excluded Assets and Excluded Liabilities..........................................38
6.8 Restructuring................................................................................38
ARTICLE VII CONDITIONS PRECEDENT TO OBLIGATIONS OF SELLER........................................................38
7.1 Warranties True as of Both Present Date and the Closing Date.................................38
{/TABLE}
-ii-
{PAGE}
TABLE OF CONTENTS
{TABLE}
{CAPTION}
PAGE
----
{S} {C}
7.2 Compliance with Agreements and Covenants.....................................................38
7.3 Competition Law Approvals....................................................................38
7.4 Injunctions..................................................................................38
7.5 Deliveries by Purchaser Parent...............................................................38
7.6 Consents.....................................................................................38
7.7 Restructuring................................................................................39
ARTICLE VIII CLOSING.............................................................................................39
8.1 Closing......................................................................................39
8.2 Seller's Deliveries..........................................................................39
8.3 Purchaser Parent's Deliveries................................................................40
8.4 Termination..................................................................................40
ARTICLE IX SURVIVAL AND INDEMNIFICATION..........................................................................41
9.1 Survival.....................................................................................41
9.2 Indemnification by Seller (other than for Tax Matters).......................................41
9.3 Indemnification by Purchaser Parent (other than for Tax Matters).............................42
9.4 Limitations on Liability of the Seller.......................................................43
9.5 Notice of Third Party Claims: Assumption of Defense..........................................43
9.6 Settlement or Compromise.....................................................................44
9.7 Tax Indemnification..........................................................................44
9.8 Time Limits..................................................................................47
9.9 Net Losses...................................................................................47
9.10 Purchase Price Adjustments...................................................................48
9.11 Remedial Action..............................................................................48
9.12 Negligence of Indemnified Parties............................................................48
9.13 Environmental Matters........................................................................48
9.14 Waiver of Consequential Damages..............................................................50
ARTICLE X TAX MATTERS............................................................................................50
10.1 Tax Elections................................................................................50
10.2 Other Tax Matters............................................................................51
ARTICLE XI MISCELLANEOUS.........................................................................................54
11.1 Delivery of Corporate Documents; Retention of Records........................................54
11.2 Cooperation After Closing....................................................................55
11.3 Expenses.....................................................................................56
11.4 Amendment....................................................................................56
11.5 Notices......................................................................................56
11.6 Waivers......................................................................................57
11.7 Counterparts.................................................................................57
11.8 Headings.....................................................................................57
11.9 Applicable Law...............................................................................57
11.10 Assignment...................................................................................58
11.11 No Third Party Beneficiaries.................................................................58
{/TABLE}
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{PAGE}
TABLE OF CONTENTS
{TABLE}
{CAPTION}
PAGE
----
{S} {C}
11.12 Jurisdiction; Venue; Service of Process; Waiver of Jury Trial................................58
11.13 Schedules....................................................................................58
11.14 Incorporation................................................................................58
11.15 Complete Agreement...........................................................................58
11.16 Disclaimer...................................................................................58
11.17 Knowledge Defined............................................................................59
11.18 Public Announcements.........................................................................59
11.19 Currency.....................................................................................59
11.20 Specific Performance.........................................................................59
11.21 Further Assurances...........................................................................59
11.22 Severability.................................................................................60
{/TABLE}
-iv-
{PAGE}
PURCHASE AGREEMENT
THIS PURCHASE AGREEMENT is entered into on the 25th day of October,
2002, among Schlumberger Technology Corporation, a Texas corporation (the
"Seller"), and Grant Prideco, Inc., a Delaware corporation ("Purchaser Parent")
(each a "Party" and collectively, the "Parties").
WHEREAS, the Seller and its Affiliates, through various directly and
indirectly wholly-owned subsidiaries, are engaged in the business of developing,
manufacturing, selling and distributing drilling bits and related assets and
technology to the oil and gas industry and, to a lesser extent, other industrial
applications (such business, including the Acquired Entities, the Acquired
Assets and the US Assets, the "Business");
WHEREAS, on the terms and subject to the conditions herein, Purchaser
Parent desires to purchase the Business from the Seller and its subsidiaries
and, on or prior to the Closing Date, will designate one or more existing or
newly formed entities to purchase the Business (each such designated subsidiary
a "Purchaser Entity" and, collectively the "Purchaser Entities");
WHEREAS, on or prior to the Closing Date, Seller will cause the assets
of the Business located in the United States set forth on Seller Schedule O (the
"US Assets") to be contributed to and the liabilities and obligations of the
Business in the United States to be assumed by Reed-Hycalog Operating, LP, a
Delaware limited partnership ("Road Runner-US"); and
WHEREAS, on or prior to the Closing Date, Seller will cause all of the
assets and liabilities of Reed Tool Singapore Pte. Ltd., a company incorporated
in Singapore ("Road Runner-Singapore-Old") to be transferred to and assumed by a
newly formed partnership ("Road Runner-Singapore-New") that will be owned
directly or indirectly 100% by Camco International (UK) Limited, a United
Kingdom corporation ("Road Runner-UK"); and
WHEREAS, on or prior to the Closing Date, Seller will cause the
inventory, contracts and other assets set forth on Seller Schedule 1.1(a) (the
"Acquired Assets") to be acquired by a newly formed Subsidiary of Road
Runner-UK; and
WHEREAS, in order to transfer the Business to the Purchaser Entities,
subject to the terms and conditions set forth herein, the Seller desires to sell
to the Purchaser Entities and the Purchaser Parent desires to purchase or cause
the Purchaser Entities to purchase from the Seller, all of the issued and
outstanding (i) capital stock of Road Runner-UK, (ii) capital stock of Camco
International (Canada) Limited, a Canadian corporation ("Road Runner-Canada"),
(iii) membership interests of Reed-Hycalog, LLC, a Delaware limited liability
company which is the general partner of Road Runner-US ("Road Runner-LLC") and
(iv) limited partner interests of Road Runner-US (Road Runner-UK, Road
Runner-Canada, Road Runner-LLC, Road Runner-US and their respective
subsidiaries, the "Acquired Entities") and certain related assets held by the
Seller and its Affiliates. Capitalized terms not defined in the body of this
Agreement shall have the meanings assigned to them in Appendix I attached
hereto, which is incorporated herein and a part hereof in all respects.
{PAGE}
NOW, THEREFORE, in consideration of the premises and the mutual
promises herein contained, Purchaser Parent, and the Seller hereby agree as
follows:
ARTICLE I
PURCHASE AND SALE
1.1 Purchase and Sale.
(a) Purchase. On the terms and subject to the conditions set forth
herein, at the Closing, Purchaser Parent and/or its Affiliates shall purchase
from the Seller and/or its Affiliates, (i) 100% of the membership interests in
Road Runner-LLC, (ii) 100% of the limited partner interests in Road Runner-US,
(iii) 100% of the issued and outstanding shares of capital stock of Road
Runner-UK, and (iv) 100% of the issued and outstanding shares of capital stock
of Road Runner-Canada. In connection with the Restructuring, the Acquired
Entities shall assume all Assumed Liabilities (as defined herein) for which they
are not already liable. Seller shall be entitled to designate one or more
Affiliates of Seller as the Sellers of all or part of the Business at any time
prior to the Closing with the consent of Purchaser Parent, which consent will
not be unreasonably withheld.
(b) Purchaser Entities. Purchaser Schedule 1.1(b) sets forth the
name and jurisdiction of formation of the entity that will purchase (i) the
membership interests in Road Runner-LLC, (ii) the limited partnership interests
in Road Runner-US, (iii) the capital stock of Road Runner-UK, and (iv) the
capital stock of Road Runner-Canada. Purchaser Schedule 1.1(b) also specifies
for each entity listed, the ownership of that entity and its ownership link to
the Purchaser Parent; provided, however, that Purchaser Parent shall be entitled
to change the designation of the entities purchasing all or part of the Business
at any time prior to the Closing if such change shall not be expected by Seller
or Purchaser Parent to have any material adverse consequences on Seller or its
Affiliates.
1.2 Limitation on Assignments. The Seller shall use its reasonable
commercial efforts to obtain all consents of third parties as are necessary for
the assignment of the Acquired Assets and the US Assets and the assignment of
any contracts, leases, property (real or personal) or other assets of the
Business to the Acquired Entities or their Subsidiaries. To the extent that (i)
any of the Acquired Assets or US Assets (and any contracts, leases, property
(real or personal) or other assets of the Business to be assigned to an Acquired
Entity or their Subsidiaries) are not assignable by the terms thereof, (ii)
consents to the assignment of any of the Acquired Assets or US Assets (and any
contracts, leases, property (real or personal) or other assets of the Business
to be assigned to an Acquired Entity or their Subsidiaries) cannot be obtained
as provided herein, (iii) the assignment of any Acquired Assets or US Assets
(and any contracts, leases, property (real or personal) or other assets of the
Business to be assigned to an Acquired Entity or their Subsidiaries) would
constitute a violation of any law, judgment, decree, order, writ, injunction,
rule or regulation of any Governmental Authority or (iv) any Acquired Asset or
US Asset (and any contract, lease, property (real or personal) or other asset of
the Business to be assigned to the Acquired Entities or their Subsidiaries) is
not assigned by Seller or its Affiliates at the Closing without a breach by such
Person of its obligations hereunder, such Acquired Assets or US Assets (and any
contracts, leases, property (real or personal) or other assets of the Business
to be assigned to the Acquired Entities or their Subsidiaries) shall be held by
Seller or an Affiliate of
137125
|
Schlumberger
As referenced in this Purchase Agreement:
SCHLUMBERGER TECHNOLOGY CORP – EX-2.1
{SEQUENCE}3
{FILENAME}h00721exv2w1.txt
{DESCRIPTION}PURCHASE AGREEMENT DATED 10/25/2002
{TEXT}
{PAGE}
EXHIBIT 2.1
PURCHASE AGREEMENT
among
SCHLUMBERGER TECHNOLOGY CORP ORATION
("Seller")
and
GRANT PRIDECO, INC.
("Purchaser Parent")
{PAGE}
TABLE OF CONTENTS
{TABLE}
{CAPTION}
PAGE
----
{S} {C}
ARTICLE I PURCHASE AND SALE.......................................................................................2
_____________
Schlumberger Technology Corp – 11.22 Severability.................................................................................60
{/TABLE}
-iv-
{PAGE}
PURCHASE AGREEMENT
THIS PURCHASE AGREEMENT is entered into on the 25th day of October,
2002, among Schlumberger Technology Corp oration, a Texas corporation (the
"Seller"), and Grant Prideco, Inc., a Delaware corporation ("Purchaser Parent")
(each a "Party" and collectively, the "Parties").
WHEREAS,
_____________
Schlumberger Technology Corp – conditions of the
Scorpion DSPP.
(c) Effective as of the Closing Date, the Acquired Entities shall
cease to be participating employers in the Schlumberger Technology Corp oration
Pension Plan (the "Road Runner Holdings-US Pension Plan"), the Schlumberger
Technology Corporation Restoration Savings Plan, and the Schlumberger Technology
Corporation Supplementary
_____________
Schlumberger
Technology Corp – Acquired Entities shall
cease to be participating employers in the Schlumberger Technology Corporation
Pension Plan (the "Road Runner Holdings-US Pension Plan"), the Schlumberger
Technology Corp oration Restoration Savings Plan, and the Schlumberger Technology
Corporation Supplementary Benefit Plan (collectively, the "Seller Retirement
Plans"), and as of such date all
_____________
Schlumberger Technology
Corp – in the Schlumberger Technology Corporation
Pension Plan (the "Road Runner Holdings-US Pension Plan"), the Schlumberger
Technology Corporation Restoration Savings Plan, and the Schlumberger Technology
Corp oration Supplementary Benefit Plan (collectively, the "Seller Retirement
Plans"), and as of such date all employees of the Acquired Entities shall cease
to
_____________
dt 99939
;
Grant Prideco
As referenced in this Purchase Agreement:
GRANT PRIDECO, INC. – DOCUMENT}
{TYPE}EX-2.1
{SEQUENCE}3
{FILENAME}h00721exv2w1.txt
{DESCRIPTION}PURCHASE AGREEMENT DATED 10/25/2002
{TEXT}
{PAGE}
EXHIBIT 2.1
PURCHASE AGREEMENT
among
SCHLUMBERGER TECHNOLOGY CORPORATION
("Seller")
and
GRANT PRIDECO, INC.
("Purchaser Parent")
{PAGE}
TABLE OF CONTENTS
{TABLE}
{CAPTION}
PAGE
----
{S} {C}
ARTICLE I PURCHASE AND SALE.......................................................................................2
1.1 Purchase and Sale.............................................................................2
1.2 Limitation on Assignments.....................................................................2
_____________
Grant Prideco, Inc. – Severability.................................................................................60
{/TABLE}
-iv-
{PAGE}
PURCHASE AGREEMENT
THIS PURCHASE AGREEMENT is entered into on the 25th day of October,
2002, among Schlumberger Technology Corporation, a Texas corporation (the
"Seller"), and Grant Prideco, Inc. , a Delaware corporation ("Purchaser Parent")
(each a "Party" and collectively, the "Parties").
WHEREAS, the Seller and its Affiliates, through various directly and
indirectly wholly-owned subsidiaries, are engaged in
_____________
Grant Prideco, Inc. – Freidenrich LLP
1221 South MoPac, Suite 400
Austin, Texas 78746-6875
Attention: Brian P. Fenske
Telephone: (512) 457-7145
Facsimile: (512) 457-7001
If to Purchaser Parent, addressed as follows:
Grant Prideco, Inc.
1330 Post Oak Blvd., Suite 3700
Houston, Texas 77056
Attention: General Counsel
Telephone: (832) 681-8000
Facsimile: (832) 681-8699
with a copy to:
Fulbright & Jaworski L.L.P.
_____________
GRANT PRIDECO, INC. – IN WITNESS WHEREOF, each of the undersigned has caused this Agreement to be
executed on its behalf as of the date first written above.
SCHLUMBERGER TECHNOLOGY CORPORATION
By:
--------------------------------
Name:
------------------------------
Title:
-----------------------------
GRANT PRIDECO, INC.
By:
--------------------------------
Name:
------------------------------
Title:
-----------------------------
{PAGE}
APPENDIX I
DEFINITIONS
The following terms shall have the following meanings:
"Acquired Assets" shall have the meaning set forth in the preamble
hereof.
"Acquired Entities"
_____________
dt 1318670
;
Grant Prideco
As referenced in this Purchase Agreement:
GRANT PRIDECO, INC. – DOCUMENT}
{TYPE}EX-2.1
{SEQUENCE}3
{FILENAME}h00721exv2w1.txt
{DESCRIPTION}PURCHASE AGREEMENT DATED 10/25/2002
{TEXT}
{PAGE}
EXHIBIT 2.1
PURCHASE AGREEMENT
among
SCHLUMBERGER TECHNOLOGY CORPORATION
("Seller")
and
GRANT PRIDECO, INC.
("Purchaser Parent")
{PAGE}
TABLE OF CONTENTS
{TABLE}
{CAPTION}
PAGE
----
{S} {C}
ARTICLE I PURCHASE AND SALE.......................................................................................2
1.1 Purchase and Sale.............................................................................2
1.2 Limitation on Assignments.....................................................................2
_____________
Grant Prideco, Inc. – Severability.................................................................................60
{/TABLE}
-iv-
{PAGE}
PURCHASE AGREEMENT
THIS PURCHASE AGREEMENT is entered into on the 25th day of October,
2002, among Schlumberger Technology Corporation, a Texas corporation (the
"Seller"), and Grant Prideco, Inc. , a Delaware corporation ("Purchaser Parent")
(each a "Party" and collectively, the "Parties").
WHEREAS, the Seller and its Affiliates, through various directly and
indirectly wholly-owned subsidiaries, are engaged in
_____________
Grant Prideco, Inc. – Freidenrich LLP
1221 South MoPac, Suite 400
Austin, Texas 78746-6875
Attention: Brian P. Fenske
Telephone: (512) 457-7145
Facsimile: (512) 457-7001
If to Purchaser Parent, addressed as follows:
Grant Prideco, Inc.
1330 Post Oak Blvd., Suite 3700
Houston, Texas 77056
Attention: General Counsel
Telephone: (832) 681-8000
Facsimile: (832) 681-8699
with a copy to:
Fulbright & Jaworski L.L.P.
_____________
GRANT PRIDECO, INC. – IN WITNESS WHEREOF, each of the undersigned has caused this Agreement to be
executed on its behalf as of the date first written above.
SCHLUMBERGER TECHNOLOGY CORPORATION
By:
--------------------------------
Name:
------------------------------
Title:
-----------------------------
GRANT PRIDECO, INC.
By:
--------------------------------
Name:
------------------------------
Title:
-----------------------------
{PAGE}
APPENDIX I
DEFINITIONS
The following terms shall have the following meanings:
"Acquired Assets" shall have the meaning set forth in the preamble
hereof.
"Acquired Entities"
_____________
dt 1318686
;
|
USWA
As referenced in this Purchase Agreement:
United Steelworkers of America – agreement other than that certain Agreement dated January
1, 2000 between Reed Tool Company and United Steelworkers of America Local Union
2083 (the "Reed Union Agreement") or currently negotiating any such agreement
(other than
_____________
dt 84847
;
 DB Trust
As referenced in this Purchase Agreement:
Deutsche Bank Trust Co – i) the bank commitment letter regarding
Senior Secured Credit Facility for Purchaser Parent dated as of the date hereof
between Purchaser Parent and Deutsche Bank Trust Co mpany Americas and (ii) the
Reed-Hycalog Acquisition Financing Commitment Letter dated as of the date hereof
between Purchaser Parent and Deutsche Bank
_____________
Deutsche Bank Trust Co – Bank Trust Company Americas and (ii) the
Reed-Hycalog Acquisition Financing Commitment Letter dated as of the date hereof
between Purchaser Parent and Deutsche Bank Trust Co rporation.
"Confidentiality Agreement" shall have the meaning set forth in
Section 4.2.
"Determination" shall have the meaning set forth in Section 1313(
_____________
dt 113745
;
More... |
| Preview
Subscribers | 2001 |
Purchase Agreement [Amendment No. 1]
Purchase Agreement [Amendment No. 1] (13K)
Doc #246916: Click preview link for longer preview.
AMENDMENT NO. 1 TO PURCHASE AGREEMENT
THIS AMENDMENT NO. 1 TO PURCHASE AGREEMENT (the "Amendment") is dated as of
---------
August 30, 2001 and is by and among SCHLUMBERGER TECHNOLOGY CORPORATION, a Texas
corporation ("STC"), CAMCO INTERNATIONAL INC., a Delaware corporation ("CII"),
--- ---
SCHLUMBERGER SURENCO S.A., a Panamanian company ("Surenco"), and SCHLUMBERGER
-------
OILFIELD HOLDINGS LTD., a British Virgin Islands company ("SOHL" and together
----
with STC, CII and Surenco, each a "Seller" and, collectively, the "Sellers" or
------ -------
"Schlumberger"), HANOVER COMPRESSOR COMPANY, a Delaware corporation ("Hanover"),
------------ -------
and HANOVER COMPRESSION LIMITED PARTNERSHIP, a Delaware limited partnership
("Purchaser"). Terms used and not defined herein shall have the meanings
---------
assigned to them in the Purchase Agreement dated June 28, 2001, by and among
STC, CII, Surenco, SOHL, Hanover and Purchaser (the "Purchase Agreement").
------------------
RECITALS
--------
A. WHEREAS, the Sellers, Hanover and Purchaser entered into the Purchase
Agreement on June 28, 2001; and
B. WHEREAS, the Sellers, Hanover and Purchaser desire to amend the
Purchase Agreement as set forth in this Amendment to reflect their agreement to
exclude the Rocky Mountain Assets from the transaction and to reference their
agreement regarding the contracts and other documents listed on Schedule 1.5(a)
hereto.
AGREEMENT
---------
NOW, THEREFORE, in consideration of the foregoing and the mutual covenants
and agreements herein contained, and intending to be legally bound hereby, the
Sellers, Hanover and Purchaser hereby agree as follows:
1. Section 1.1 of the Purchase Agreement is amended and restated to read
in its entirety as follows:
1.1 Purchase and Sale. Subject to the terms and conditions hereof,
-----------------
Purchaser and/or one or more of its Affiliates shall purchase: (i) 100% of
the issued and outstanding shares (the "POC Shares") of the capital stock
----------
of Production Operators Corporation, a Delaware corporation ("POC"), from
---
CII, (ii) a 35.5% equity interest in and a $7,952,000 loan to (the "Harwat
------
Interest") Harwat International Finance N.V., a Curacao limited liability
--------
company ("Harwat"), from SOHL, (iii) a 30% equity interest in and a
------
$79,185,000 loan to ("WilPro Interest") WilPro Energy Service (PIGAP II)
---------------
Limited, a Cayman Islands company ("WilPro"), from Surenco, and (iv) the
------
contracts and other assets of Operational Services, Inc.'s Mechanical
Services Group listed on Exhibit 1.1A (the "OSI Assets"). In addition,
------------ ----------
STC, SOHL and Purchaser shall enter into the Alliance Agreement. The
consummation of the transactions contemplated in this Section 1.1 shall be
-----------
referred to herein as the "Closing".
{PAGE}
2. Section 1.2(a) of the Purchase Agreement is amended and restated to
read in its entirety as follows:
(a) Subject to the terms and conditions hereof, and subject to the
adjustments specified in Section 1.3 hereof, the aggregate amount (the
"Aggregate Purchase Price") paid by Hanover for the Schlumberger Equity
Interests, the OSI Assets, and the Alliance Agreement, which shall be
allocated by the Parties in accordance with Section 1.2(c), shall consist
of: (i) the following amounts paid at Closing: (A) Two Hundred Seventy
Million Dollars ($270,000,000) in cash, (B) One Hundred Fifty Million
Dollars ($150,000,000) in the form of a subordinated promissory note having
the terms set forth on the Term Sheet attached hereto as Exhibit 1.2 (the
"Hanover Note") and (C) a number of shares of Hanover common stock
("Hanover Stock") having a value (without giving effect to any restrictions
on transfer) of Two Hundred Eighty Three Million Dollars ($283,000,000), as
provided in Section 1.2(b), and (ii) upon any draw down on a financing of
the PIGAP II project owned by WilPro, the net amount of the draw down
multiplied by 30% until an aggregate of Fifty Eight Million Dollars
($58,000,000) in cash has been paid to Surenco.
3. Section 4.11 of the Purchase Agreement is amended and restated to read
246916
|
Schlumberger
As referenced in this Purchase Agreement [Amendment No. 1]:
SCHLUMBERGER TECHNOLOGY CORP – PURCHASE AGREEMENT
THIS AMENDMENT NO. 1 TO PURCHASE AGREEMENT (the "Amendment") is dated as of
---------
August 30, 2001 and is by and among SCHLUMBERGER TECHNOLOGY CORP ORATION, a Texas
corporation ("STC"), CAMCO INTERNATIONAL INC., a Delaware corporation ("CII"),
--- ---
SCHLUMBERGER SURENCO S.A., a Panamanian company ("Surenco"), and SCHLUMBERGER
-------
OILFIELD
_____________
dt 99948
;
Hanover
As referenced in this Purchase Agreement [Amendment No. 1]:
HANOVER COMPRESSION LIMITED PARTNERSHIP, – together
----
with STC, CII and Surenco, each a "Seller" and, collectively, the "Sellers" or
------ -------
"Schlumberger"), HANOVER COMPRESSOR COMPANY, a Delaware corporation ("Hanover"),
------------ -------
and HANOVER COMPRESSION LIMITED PARTNERSHIP, a Delaware limited partnership
("Purchaser"). Terms used and not defined herein shall have the meanings
---------
assigned to them in the Purchase Agreement
_____________
dt 100597
;
HCC
As referenced in this Purchase Agreement [Amendment No. 1]:
HANOVER COMPRESSOR – together
----
with STC, CII and Surenco, each a "Seller" and, collectively, the "Sellers" or
------ -------
"Schlumberger"), HANOVER COMPRESSOR COMPANY, a Delaware corporation ("Hanover"),
------------ -------
and HANOVER COMPRESSION LIMITED PARTNERSHIP, a Delaware limited partnership
("Purchaser").
_____________
HANOVER COMPRESSOR – S.A.
CORPORATION
By: ____________________________ By: ________________________________
Name: __________________________ Name: ______________________________
Title: _________________________ Title: _____________________________
HANOVER COMPRESSOR COMPANY SCHLUMBERGER OILFIELD HOLDINGS LTD.
By: ____________________________ By: ________________________________
Name: __________________________ Name: ______________________________
Title: _________________________
_____________
dt 75039
;
| Camco International Inc.;
Schlumberger Surenco S.A.;
Schlumberger Oilfield Holdings Ltd.
|
| Preview
Subscribers | 2001 |
Purchase Agreement
Purchase Agreement (261K)
Doc #246920: Click preview link for longer preview.
PURCHASE AGREEMENT
AMONG
SCHLUMBERGER TECHNOLOGY CORPORATION
("STC")
SCHLUMBERGER OILFIELD HOLDINGS LIMITED
("SOHL")
SCHLUMBERGER SURENCO S.A.
("SURENCO")
CAMCO INTERNATIONAL INC.
("CII")
HANOVER COMPRESSOR COMPANY
("HANOVER")
AND
HANOVER COMPRESSION LIMITED PARTNERSHIP
("PURCHASER")
{Page}
PURCHASE AGREEMENT
THIS PURCHASE AGREEMENT is entered into on the 28th day of June,
2001, among SCHLUMBERGER TECHNOLOGY CORPORATION, a Texas corporation ("STC"),
CAMCO INTERNATIONAL INC., a Delaware company ("CII"), SCHLUMBERGER SURENCO
S.A., a Panamanian company ("SURENCO"), and SCHLUMBERGER OILFIELD HOLDINGS
LTD., a British Virgin Islands company ("SOHL" and together with STC, CII and
Surenco, each a "SELLER" and, collectively, the "SELLERS" or "SCHLUMBERGER"),
HANOVER COMPRESSOR COMPANY, a Delaware corporation ("HANOVER"), and HANOVER
COMPRESSION LIMITED PARTNERSHIP, a Delaware limited partnership
("PURCHASER"), all of which are sometimes herein referred to as the "Parties"
and one of which is referred to as a "Party".
WHEREAS, subject to the terms and conditions set forth herein, the
Parties desire to effect: (i) the purchase by Purchaser and/or its
Affiliates, and the sale by each of the Sellers of their respective interests
in the gas compression business of the Schlumberger group of companies, the
composition of which is more fully described below, and (ii) the entry by
Hanover, SOHL or its designee, and STC into a strategic alliance as more
fully described below (together, the "TRANSACTION").
NOW, THEREFORE, in consideration of the premises and the mutual
promises herein contained, Purchaser, Hanover, and each Seller separately
agree as follows:
ARTICLE I
PURCHASE AND SALE
1.1 PURCHASE AND SALE. Subject to the terms and conditions hereof,
Purchaser and/or one or more of its Affiliates shall purchase: (i) 100% of
the issued and outstanding shares (the "POC SHARES") of the capital stock of
Production Operators Corporation, a Delaware corporation ("POC"), from CII,
(ii) a 35.5% equity interest in and a $7,952,000 loan to (the "HARWAT
INTEREST") Harwat International Finance N.V., a Curacao limited liability
company ("HARWAT"), from SOHL, (iii) a 30% equity interest in and a
$79,185,000 loan to ("WILPRO INTEREST") WilPro Energy Service (PIGAP II)
Limited, a Cayman Islands company ("WILPRO"), from Surenco, (iv) the
contracts and other assets of Operational Services, Inc.'s Mechanical
Services Group listed on EXHIBIT 1.1A (the "OSI ASSETS") and (v) the
contracts and other assets of STC relating to the Rocky Mountain gas
processing plant listed on EXHIBIT 1.1B (the "ROCKY MOUNTAIN ASSETS"). In
addition, STC, SOHL and Purchaser shall enter into the Alliance Agreement.
The consummation of the transactions contemplated in this SECTION 1.1 shall
be referred to herein as the "Closing".
1.2 CONSIDERATION/ALLOCATION.
(a) Subject to the terms and conditions hereof, and subject
to the adjustments specified in SECTION 1.3 hereof, the aggregate amount (the
"AGGREGATE PURCHASE PRICE") paid by Hanover for the Schlumberger Equity
Interests, the OSI Assets, the Rocky Mountain Assets and the Alliance
Agreement, which shall be allocated by the Parties in accordance with SECTION
1.2(c), shall consist of: (i) the following amounts paid at Closing: (A) Two
Hundred Seventy Million Dollars ($270,000,000) in cash, (B) One Hundred Fifty
Million Dollars
246920
|
Schlumberger
As referenced in this Purchase Agreement:
SCHLUMBERGER TECHNOLOGY CORP – {DOCUMENT}
{TYPE}EX-1
{SEQUENCE}3
{FILENAME}a2059034zex-1.txt
{DESCRIPTION}EXHIBIT 1
{TEXT}
{Page}
PURCHASE AGREEMENT
AMONG
SCHLUMBERGER TECHNOLOGY CORP ORATION
("STC")
SCHLUMBERGER OILFIELD HOLDINGS LIMITED
("SOHL")
SCHLUMBERGER SURENCO S.A.
("SURENCO")
CAMCO INTERNATIONAL INC.
("CII")
HANOVER COMPRESSOR COMPANY
("HANOVER")
AND
HANOVER COMPRESSION
_____________
SCHLUMBERGER TECHNOLOGY CORP – AND
HANOVER COMPRESSION LIMITED PARTNERSHIP
("PURCHASER")
{Page}
PURCHASE AGREEMENT
THIS PURCHASE AGREEMENT is entered into on the 28th day of June,
2001, among SCHLUMBERGER TECHNOLOGY CORP ORATION, a Texas corporation ("STC"),
CAMCO INTERNATIONAL INC., a Delaware company ("CII"), SCHLUMBERGER SURENCO
S.A., a Panamanian company ("SURENCO"), and SCHLUMBERGER OILFIELD
_____________
Schlumberger Technology
Corp – conditions of the Schlumberger DSPP.
(c) Effective as of the Closing Date, the POC Companies
shall cease to be participating employers in the Schlumberger Technology
Corp oration Pension Plan (the "STC Pension Plan"), the Schlumberger
Technology Corporation Restoration Savings Plan, and the Schlumberger
Technology Corporation Supplementary Benefit Plan (collectively,
_____________
Schlumberger
Technology Corp – Closing Date, the POC Companies
shall cease to be participating employers in the Schlumberger Technology
Corporation Pension Plan (the "STC Pension Plan"), the Schlumberger
Technology Corp oration Restoration Savings Plan, and the Schlumberger
Technology Corporation Supplementary Benefit Plan (collectively, the "Seller
Retirement Plans"), and as of such date all
_____________
Schlumberger
Technology Corp – be participating employers in the Schlumberger Technology
Corporation Pension Plan (the "STC Pension Plan"), the Schlumberger
Technology Corporation Restoration Savings Plan, and the Schlumberger
Technology Corp oration Supplementary Benefit Plan (collectively, the "Seller
Retirement Plans"), and as of such date all employees of the POC Companies
shall cease to
_____________
dt 99950
;
Hanover
As referenced in this Purchase Agreement:
HANOVER COMPRESSION LIMITED PARTNERSHIP
– SCHLUMBERGER TECHNOLOGY CORPORATION
("STC")
SCHLUMBERGER OILFIELD HOLDINGS LIMITED
("SOHL")
SCHLUMBERGER SURENCO S.A.
("SURENCO")
CAMCO INTERNATIONAL INC.
("CII")
HANOVER COMPRESSOR COMPANY
("HANOVER")
AND
HANOVER COMPRESSION LIMITED PARTNERSHIP
("PURCHASER")
{Page}
PURCHASE AGREEMENT
THIS PURCHASE AGREEMENT is entered into on the 28th day of June,
2001, among SCHLUMBERGER TECHNOLOGY CORPORATION, a
_____________
HANOVER
COMPRESSION LIMITED PARTNERSHIP, – together with STC, CII and
Surenco, each a "SELLER" and, collectively, the "SELLERS" or "SCHLUMBERGER"),
HANOVER COMPRESSOR COMPANY, a Delaware corporation ("HANOVER"), and HANOVER
COMPRESSION LIMITED PARTNERSHIP, a Delaware limited partnership
("PURCHASER"), all of which are sometimes herein referred to as the "Parties"
and one of which is referred
_____________
Hanover Compression Limited Partnership
– Wacker Drive
Chicago, Illinois 60606
Attn: Richard S. Meller
Telephone: (312) 876-7700
Facsimile: (312) 993-9767
If to Purchaser, addressed as follows:
Hanover Compression Limited Partnership
12001 North Houston Rosslyn
Houston, Texas 77806
Attention: William S. Goldberg
Telephone: (281) 447-8787
Facsimile: (281) 447-0821
with a copy
_____________
dt 100600
;
HCC
As referenced in this Purchase Agreement:
HANOVER COMPRESSOR – STC")
SCHLUMBERGER OILFIELD HOLDINGS LIMITED
("SOHL")
SCHLUMBERGER SURENCO S.A.
("SURENCO")
CAMCO INTERNATIONAL INC.
("CII")
HANOVER COMPRESSOR COMPANY
("HANOVER")
AND
HANOVER COMPRESSION LIMITED PARTNERSHIP
("PURCHASER")
{Page}
PURCHASE AGREEMENT
THIS PURCHASE AGREEMENT is
_____________
HANOVER COMPRESSOR – together with STC, CII and
Surenco, each a "SELLER" and, collectively, the "SELLERS" or "SCHLUMBERGER"),
HANOVER COMPRESSOR COMPANY, a Delaware corporation ("HANOVER"), and HANOVER
COMPRESSION LIMITED PARTNERSHIP, a Delaware limited partnership
("PURCHASER"),
_____________
Hanover Compressor – Fenske
Telephone: (512) 457-7145
Facsimile: (512) 457-7001
If to Hanover, addressed as follows:
Hanover Compressor Company
12001 North Houston Rosslyn
Houston, Texas 77806
Attention: William S. Goldberg
Telephone: (281) 447-
_____________
HANOVER COMPRESSOR – __________________, 2001.
SCHLUMBERGER TECHNOLOGY SCHLUMBERGER SURENCO S.A.
CORPORATION
By: By:
-------------------------------- ------------------------------------
Name: Name:
------------------------------ ----------------------------------
Title: Title:
----------------------------- ---------------------------------
HANOVER COMPRESSOR COMPANY SCHLUMBERGER OIL FIELD HOLDINGS LTD.
By: By:
-------------------------------- ------------------------------------
Name: Name:
------------------------------ ----------------------------------
Title: Title:
----------------------------- ---------------------------------
HANOVER COMPRESSION LIMITED
_____________
dt 75043
;
|
Goldman, Sachs
As referenced in this Purchase Agreement:
Goldman, Sachs – rights and to
general equity principles.
3.4 BROKERS. Except for GKH Partners, L.P., Goldman, Sachs & Co. and
J.P. Morgan Securities Inc., the fees and expenses of which shall
_____________
dt 73450
;
J.P. Morgan
As referenced in this Purchase Agreement:
J.P. Morgan Securities – to or affecting creditor rights and to
general equity principles.
3.4 BROKERS. Except for GKH Partners, L.P., Goldman, Sachs & Co. and
J.P. Morgan Securities Inc., the fees and expenses of which shall be the
responsibility of Purchaser, no broker or investment banker acting on behalf
of Hanover
_____________
dt 98458
;
More... |
| Preview
Subscribers | 2001 |
Purchase Agreement [Amendment No. 1]
Purchase Agreement [Amendment No. 1] (12K)
Doc #246922: Click preview link for longer preview.
AMENDMENT NO. 1 TO PURCHASE AGREEMENT
THIS AMENDMENT NO. 1 TO PURCHASE AGREEMENT (the "AMENDMENT") is dated
as of August 30, 2001 and is by and among SCHLUMBERGER TECHNOLOGY
CORPORATION, a Texas corporation ("STC"), CAMCO INTERNATIONAL INC., a
Delaware corporation ("CII"), SCHLUMBERGER SURENCO S.A., a Panamanian company
("SURENCO"), and SCHLUMBERGER OILFIELD HOLDINGS LTD., a British Virgin
Islands company ("SOHL" and together with STC, CII and Surenco, each a
"SELLER" and, collectively, the "SELLERS" or "SCHLUMBERGER"), HANOVER
COMPRESSOR COMPANY, a Delaware corporation ("HANOVER"), and HANOVER
COMPRESSION LIMITED PARTNERSHIP, a Delaware limited partnership
("PURCHASER"). Terms used and not defined herein shall have the meanings
assigned to them in the Purchase Agreement dated June 28, 2001, by and among
STC, CII, Surenco, SOHL, Hanover and Purchaser (the "PURCHASE AGREEMENT").
RECITALS
A. WHEREAS, the Sellers, Hanover and Purchaser entered into the
Purchase Agreement on June 28, 2001; and
B. WHEREAS, the Sellers, Hanover and Purchaser desire to amend
the Purchase Agreement as set forth in this Amendment to reflect their
agreement to exclude the Rocky Mountain Assets from the transaction and to
reference their agreement regarding the contracts and other documents listed
on Schedule 1.5(a) hereto.
AGREEMENT
NOW, THEREFORE, in consideration of the foregoing and the mutual
covenants and agreements herein contained, and intending to be legally bound
hereby, the Sellers, Hanover and Purchaser hereby agree as follows:
1. Section 1.1 of the Purchase Agreement is amended and restated
to read in its entirety as follows:
1.1 PURCHASE AND SALE. Subject to the terms and conditions
hereof, Purchaser and/or one or more of its Affiliates shall
purchase: (i)100% of the issued and outstanding shares (the "POC
SHARES") of the capital stock of Production Operators Corporation, a
Delaware corporation ("POC"), from CII, (ii) a 35.5% equity interest
in and a $7,952,000 loan to (the "HARWAT INTEREST") Harwat
International Finance N.V., a Curacao limited liability company
("HARWAT"), from SOHL, (iii)a 30% equity interest in and a
$79,185,000 loan to ("WILPRO INTEREST") WilPro Energy Service
(PIGAPII) Limited, a Cayman Islands company ("WILPRO"), from Surenco,
and (iv)the contracts and other assets of Operational Services,
Inc.'s Mechanical Services Group listed on Exhibit1.1A (the "OSI
ASSETS"). In addition, STC, SOHL and Purchaser shall enter into the
Alliance Agreement. The consummation of the transactions
contemplated in this Section1.1 shall be referred to herein as the
"Closing".
{Page}
2. Section 1.2(a) of the Purchase Agreement is amended and
restated to read in its entirety as follows:
(a) Subject to the terms and conditions hereof, and
subject to the adjustments specified in Section1.3 hereof, the
aggregate amount (the "Aggregate Purchase Price") paid by Hanover for
the Schlumberger Equity Interests, the OSI Assets, and the Alliance
Agreement, which shall be allocated by the Parties in accordance with
Section1.2(c), shall consist of: (i)the following amounts paid at
Closing: (A)Two Hundred Seventy Million Dollars ($270,000,000) in
cash, (B)One Hundred Fifty Million Dollars ($150,000,000) in the form
of a subordinated promissory note having the terms set forth on the
Term Sheet attached hereto as Exhibit1.2 (the "Hanover Note") and
(C)a number of shares of Hanover common stock ("Hanover Stock")
having a value (without giving effect to any restrictions on
transfer) of Two Hundred Eighty Three Million Dollars ($283,000,000),
as provided in Section1.2(b), and (ii)upon any draw down on a
financing of the PIGAPII project owned by WilPro, the net amount of
the draw down multiplied by 30% until an aggregate of Fifty Eight
Million Dollars($58,000,000) in cash has been paid to Surenco.
3. Section 4.11 of the Purchase Agreement is amended and
restated to read in its entirety as follows:
4.11 SALE OF OSI ASSETS. Sellers agree that Sellers
and/or one of their Affiliates shall sell the OSI Assets to Purchaser
246922
|
Schlumberger
As referenced in this Purchase Agreement [Amendment No. 1]:
SCHLUMBERGER TECHNOLOGY
CORP – PURCHASE AGREEMENT
THIS AMENDMENT NO. 1 TO PURCHASE AGREEMENT (the "AMENDMENT") is dated
as of August 30, 2001 and is by and among SCHLUMBERGER TECHNOLOGY
CORP ORATION, a Texas corporation ("STC"), CAMCO INTERNATIONAL INC., a
Delaware corporation ("CII"), SCHLUMBERGER SURENCO S.A., a Panamanian company
("SURENCO"), and SCHLUMBERGER OILFIELD
_____________
SCHLUMBERGER TECHNOLOGY CORP – Page Follows]
4
{Page}
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to
be executed and delivered on August 30, 2001.
SCHLUMBERGER TECHNOLOGY CORP ORATION SCHLUMBERGER SURENCO S.A.
By: ________________________________ By: ________________________________
Name: ______________________________ Name: ______________________________
Title: ______________________________ Title: ______________________________
HANOVER COMPRESSOR COMPANY SCHLUMBERGER OILFIELD HOLDINGS
_____________
dt 99952
;
Hanover
As referenced in this Purchase Agreement [Amendment No. 1]:
HANOVER
COMPRESSION LIMITED PARTNERSHIP, – together with STC, CII and Surenco, each a
"SELLER" and, collectively, the "SELLERS" or "SCHLUMBERGER"), HANOVER
COMPRESSOR COMPANY, a Delaware corporation ("HANOVER"), and HANOVER
COMPRESSION LIMITED PARTNERSHIP, a Delaware limited partnership
("PURCHASER"). Terms used and not defined herein shall have the meanings
assigned to them in the Purchase Agreement
_____________
HANOVER COMPRESSION LIMITED PARTNERSHIP – Title: ______________________________ Title: ______________________________
HANOVER COMPRESSOR COMPANY SCHLUMBERGER OILFIELD HOLDINGS LTD.
By: ________________________________ By: ________________________________
Name: ______________________________ Name: ______________________________
Title: ______________________________ Title: ______________________________
HANOVER COMPRESSION LIMITED PARTNERSHIP CAMCO INTERNATIONAL, INC.
By: ________________________________ By: ________________________________
Name: ______________________________ Name: ______________________________
Title: ______________________________ Title: ______________________________
{/TEXT}
{/DOCUMENT}
_____________
dt 100602
;
HCC
As referenced in this Purchase Agreement [Amendment No. 1]:
HANOVER
COMPRESSOR – together with STC, CII and Surenco, each a
"SELLER" and, collectively, the "SELLERS" or "SCHLUMBERGER"), HANOVER
COMPRESSOR COMPANY, a Delaware corporation ("HANOVER"), and HANOVER
COMPRESSION LIMITED PARTNERSHIP, a Delaware limited partnership
("PURCHASER").
_____________
HANOVER COMPRESSOR – SURENCO S.A.
By: ________________________________ By: ________________________________
Name: ______________________________ Name: ______________________________
Title: ______________________________ Title: ______________________________
HANOVER COMPRESSOR COMPANY SCHLUMBERGER OILFIELD HOLDINGS LTD.
By: ________________________________ By: ________________________________
Name: ______________________________ Name: ______________________________
Title: ______________________________
_____________
dt 75045
;
| Camco International Inc.;
Schlumberger Surenco S.A.;
Schlumberger Oilfield Holdings Ltd.
|
| Preview
Subscribers | 2001 |
Purchase Agreement
Purchase Agreement (252K)
Doc #246924: Click preview link for longer preview.
PURCHASE AGREEMENT
AMONG
SCHLUMBERGER TECHNOLOGY CORPORATION
("STC")
SCHLUMBERGER OILFIELD HOLDINGS LIMITED
("SOHL")
SCHLUMBERGER SURENCO S.A.
("SURENCO")
CAMCO INTERNATIONAL INC.
("CII")
HANOVER COMPRESSOR COMPANY
("HANOVER")
AND
HANOVER COMPRESSION LIMITED PARTNERSHIP
("Purchaser")
{PAGE}
TABLE OF CONTENTS
Page
----
ARTICLE I PURCHASE AND SALE...................................................1
1.1 Purchase and Sale................................................1
1.2 Consideration/Allocation.........................................1
1.3 Purchase Price Adjustment........................................2
1.4 Excluded Assets..................................................5
1.5 Excluded Liabilities.............................................5
1.6 Contract Assignments.............................................5
1.7 PIGAP Put; Priority of Set-Off by Schlumberger...................6
ARTICLE II REPRESENTATIONS AND WARRANTIES OF SELLERS..........................7
2.1 Organization.....................................................7
2.2 Capitalization; Seller's Ownership of POC Companies and
Interest in Joint Venture Companies..............................8
2.3 Authority of Sellers.............................................9
2.4 No Conflict/Consents.............................................9
2.5 Books and Records...............................................10
2.6 Personal Property...............................................10
2.7 Real Property...................................................10
2.8 No Undisclosed Liabilities......................................11
2.9 Accounts Receivable.............................................11
2.10 Intellectual Property...........................................11
2.11 Financial Statements............................................12
2.12 No Material Adverse Change......................................12
2.13 Absence of Certain Changes and Events...........................12
2.14 Taxes...........................................................14
2.15 Litigation......................................................17
2.16 ERISA and Related Matters.......................................17
2.17 Material Contracts..............................................19
2.18 Brokers.........................................................21
2.19 Insurance.......................................................21
2.20 Employees.......................................................21
2.21 Environmental...................................................22
2.22 Environmental Permits...........................................23
2.23 Affiliate Transactions..........................................23
2.24 Compliance with Law; Authorizations.............................23
2.25 No Other Representations or Warranties..........................23
2.26 Securities; Resale..............................................23
2.27 Sufficiency of Assets...........................................24
ARTICLE III REPRESENTATIONS AND WARRANTIES OF HANOVER AND PURCHASER..........24
3.1 Organization....................................................24
3.2 Capitalization..................................................24
-i-
{PAGE}
TABLE OF CONTENTS
(continued)
Page
----
3.3 Authority of Hanover and Purchaser..............................25
3.4 Brokers.........................................................25
3.5 Hanover SEC Filings; Financial Statements; Absence of
Certain Changes.................................................25
3.6 No Conflict; Consents...........................................26
3.7 No Undisclosed Liabilities......................................26
3.8 No Material Adverse Change......................................26
3.9 Absence of Certain Changes and Events...........................27
3.10 Taxes...........................................................27
3.11 Litigation......................................................27
3.12 ERISA and Related Matters.......................................27
3.13 Environmental...................................................28
3.14 Compliance with Law; Authorizations.............................28
3.15 Securities/Resale...............................................28
3.16 No Other Representations or Warranties..........................28
ARTICLE IV COVENANTS OF SELLER...............................................29
4.1 Corporate and Other Actions.....................................29
4.2 Full Access.....................................................29
4.3 Ordinary Course of Business.....................................29
4.4 Filings and Consents............................................29
4.5 Employment Matters..............................................30
4.6 Covenant Not to Compete.........................................30
4.7 Cooperation with SEC Filings; Financing.........................31
4.8 Transition Services Agreement...................................31
4.9 Alliance Agreement..............................................31
4.10 Registration Rights Agreement...................................31
4.11 Sale of OSI Assets and Rocky Mountain Assets....................31
ARTICLE V COVENANTS OF HANOVER AND PURCHASER.................................32
5.1 Corporate and Other Actions.....................................32
5.2 Benefit Plans...................................................32
5.3 Full Access.....................................................34
5.4 Filings and Consents............................................34
5.5 Directors' and Officers' Insurance..............................34
5.6 Use of Schlumberger Name........................................34
5.7 Registration Rights Agreement...................................34
5.8 Alliance Agreement..............................................35
5.9 Hanover Board Seat..............................................35
5.10 Hanover Guarantees..............................................35
5.11 Schlumberger Guarantee..........................................35
5.12 Purchase of WilPro Energy Services (GUARA) Ltd..................36
5.13 Purchase of OSI Mechanical Services Group and Rocky
Mountain Gas Contracts..........................................36
5.14 Options for YME Assets..........................................36
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