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Subscribers | 2003 |
Asset Purchase Agreement
Asset Purchase Agreement (238K)
Doc #101569: Click preview link for longer preview.
{DOCUMENT}
{TYPE}EX-2
{SEQUENCE}3
{PAGE}
================================================================================
ASSET PURCHASE AGREEMENT
by and among
Dana Corporation
and
Certain of its Subsidiaries
as Sellers
and
Standard Motor Products, Inc.
as Buyer
Providing for the Sale of Substantially all of the Assets of
Dana's Engine Management Business
Dated as of February 7, 2003
================================================================================
{PAGE}
TABLE OF CONTENTS
{TABLE}
{CAPTION}
Page
----
{S} {C}
ARTICLE I PURCHASE AND SALE OF ASSETS...............................................................1
1.1 Sale and Transfer of Assets....................................................................1
1.2 Retained Assets................................................................................3
1.3 Nonassignable Assets; Beneficial Ownership.....................................................4
ARTICLE II ASSUMPTION OF LIABILITIES.................................................................5
2.1 Assumed Liabilities............................................................................5
2.2 Retained Liabilities...........................................................................6
ARTICLE III PURCHASE PRICE............................................................................6
3.1 Purchase Price.................................................................................6
3.2 Payment of Purchase Price......................................................................6
3.3 Purchase Price Adjustment......................................................................7
3.4 Purchase Price Allocation.....................................................................10
ARTICLE IV CLOSING AND DELIVERIES...................................................................10
4.1 Closing.......................................................................................10
4.2 Deliveries by Sellers.........................................................................10
4.3 Deliveries by Buyer...........................................................................12
ARTICLE V REPRESENTATIONS AND WARRANTIES OF SELLERS................................................13
5.1 Organization and Standing.....................................................................13
5.2 Authority, Validity and Effect................................................................13
5.3 No Conflict; Required Filings and Consents....................................................13
5.4 Financial Statements..........................................................................14
5.5 Absence of Certain Changes....................................................................14
5.6 Acquired Assets...............................................................................15
5.7 Accounts Receivable...........................................................................15
5.8 Inventory.....................................................................................15
5.9 EMG Contracts.................................................................................15
5.10 Intellectual Property.........................................................................17
5.11 Real Property.................................................................................17
5.12 Legal Proceedings.............................................................................18
{/TABLE}
101569
|
 GE Capital
As referenced in this Asset Purchase Agreement:
General
Electric Capital Corp – 10 Financial Ability. Buyer has delivered to Sellers true and complete
copies of the Amended and Restated Credit Agreement by and among Buyer, General
Electric Capital Corp oration and the other lenders party thereto, in the form
anticipated to be executed contemporaneously with this Agreement (together with
any other agreements
_____________
GENERAL ELECTRIC CAPITAL CORP – IN THE MANNER AND TO THE EXTENT SET FORTH
IN THE SUBORDINATION AGREEMENT DATED AS OF EVEN DATE HEREWITH BY AND AMONG
PAYEE, GENERAL ELECTRIC CAPITAL CORP ORATION, AS AGENT (THE "AGENT"), AND
MAKER (THE "SUBORDINATION AGREEMENT").
THIS NOTE WAS ORIGINALLY ISSUED ON _________ __, 2003 AND HAS NOT BEEN
_____________
General Electric Capital Corp – Knowledge" means the actual knowledge of James Burke, Larry Sills,
John Gethin, Bob Martin, John Holowko and Eric Sills.
"Buyer's Lender" means General Electric Capital Corp oration, as agent for
the lenders under the Financing Agreements.
"CERCLA" means the Comprehensive Environmental Response, Compensation and
Liability Act of 1980, as
_____________
dt 100785
;
Standard Motor
As referenced in this Asset Purchase Agreement:
Standard Motor Products, – DOCUMENT}
{TYPE}EX-2
{SEQUENCE}3
{PAGE}
================================================================================
ASSET PURCHASE AGREEMENT
by and among
Dana Corporation
and
Certain of its Subsidiaries
as Sellers
and
Standard Motor Products, Inc.
as Buyer
Providing for the Sale of Substantially all of the Assets of
Dana's Engine Management Business
Dated as of
_____________
STANDARD MOTOR PRODUCTS, – a Missouri corporation, RISTANCE
CORPORATION, an Indiana corporation, ENGINE CONTROLS DISTRIBUTION SERVICES,
INC., a Delaware corporation (each a "Seller" and, collectively, "Sellers"), and
STANDARD MOTOR PRODUCTS, INC., a New York corporation ("Buyer"). Buyer and
Sellers are referred to collectively herein as the "Parties." Capitalized terms
are used herein
_____________
STANDARD MOTOR
PRODUCTS, – RELATING TO THE
DISPOSITION OF SUCH SECURITIES, EVIDENCE OF WHICH MAY INCLUDE A WRITTEN
OPINION TO THAT EFFECT DELIVERED TO AND SATISFACTORY TO STANDARD MOTOR
PRODUCTS, INC. (THE "COMPANY") IN FORM AND SUBSTANCE FROM COUNSEL
SATISFACTORY TO THE COMPANY BY REASON OF EXPERIENCE AND (3) IN ACCORDANCE
WITH
_____________
STANDARD MOTOR PRODUCTS, – ARE SUBJECT TO THE PROVISIONS OF A
SHARE OWNERSHIP AGREEMENT DATED AS OF __________ ___, 200_ BY AND BETWEEN
[THE SELLER DESIGNEE] AND STANDARD MOTOR PRODUCTS, INC., WHICH CONTAINS
CERTAIN RESTRICTIONS ON TRANSFERABILITY OF THE SECURITIES REPRESENTED
HEREBY.
30 Asset Purchase Agreement
{PAGE}
(b) The Seller Note shall
_____________
Standard Motor Products, – or certified mail, postage prepaid, or sent by Federal
Express or other overnight courier of national reputation, addressed as follows:
If to Buyer:
Standard Motor Products, Inc.
37-18 Northern Boulevard
Long Island City, New York 11101
Attn: Chief Financial Officer
Fax: (718) 472-0122
with a copy
_____________
dt 223209
;
CSFB Corp.
As referenced in this Asset Purchase Agreement:
Credit Suisse First
Boston Corp – to
which Sellers were invited by any of the foregoing means of communication.
5.24 No Brokers. Except for the compensation payable to Credit Suisse First
Boston Corp oration ("CSFB") in connection with the transactions contemplated by
this Agreement and the Ancillary Agreements, which Dana shall pay, no broker,
finder or
_____________
dt 99243
;
|
 Jones Day
As referenced in this Asset Purchase Agreement:
Jones, Day – of the transactions contemplated hereby (the
"Closing") is to take place at the offices of Jones, Day , Reavis & Pogue, 222
East 41st Street, New York, New York 10017, at 10:00
Jones, Day – Street
Toledo, Ohio 43697
Attn: General Counsel
Fax: (419) 535-4790
with a copy to:
Jones, Day , Reavis & Pogue
North Point
901 Lakeside Avenue
Cleveland, Ohio 44114
Attn: John P. Dunn,
dt 35975
;
Kelley Drye
As referenced in this Asset Purchase Agreement:
Kelley Drye – New York 11101
Attn: Chief Financial Officer
Fax: (718) 472-0122
with a copy to:
Kelley Drye & Warren, LLP
101 Park Avenue
New York, New York 10178
Attn: Ronald B. Risdon,
dt 37641
|
| Preview
Subscribers | 2002 |
Asset Purchase Agreement
Asset Purchase Agreement (229K)
Doc #101775: Click preview link for longer preview.
ASSET PURCHASE AGREEMENT
DATED AS OF DECEMBER 27, 2002
AMONG
TRIBUNE BROADCASTING COMPANY,
TRIBUNE DENVER RADIO, INC.,
ACME TELEVISION OF OREGON, LLC,
ACME TELEVISION LICENSES OF OREGON, LLC
AND
ACME COMMUNICATIONS, INC.
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ARTICLE I DEFINITIONS...................................................... 1
Section 1.1. Definitions................................................ 1
ARTICLE II PURCHASE AND SALE OF PURCHASED ASSETS........................... 8
Section 2.1. Purchase and Sale of Purchased Assets...................... 8
Section 2.2. Excluded Assets............................................ 9
Section 2.3. Assumption of Liabilities.................................. 10
ARTICLE III PURCHASE PRICE AND CLOSING..................................... 13
Section 3.1. Closing Date............................................... 13
Section 3.2. Purchase Price............................................. 13
Section 3.3. Payment of the Closing Date Payment........................ 13
Section 3.4. Closing Date Deliveries.................................... 13
Section 3.5. Further Assurances......................................... 14
Section 3.6. Prorations and Adjustments................................. 14
Section 3.7. Purchase Price Adjustment.................................. 16
ARTICLE IV REPRESENTATIONS AND WARRANTIES OF THE ACME ENTITIES............. 16
Section 4.1. Organization............................................... 16
Section 4.2. Subsidiaries and Investments............................... 16
Section 4.3. Authority of the ACME Entities............................. 17
Section 4.4. Financial Statements....................................... 18
Section 4.5. Operations Since Balance Sheet Date........................ 18
Section 4.6. No Undisclosed Liabilities................................. 19
Section 4.7. Taxes...................................................... 20
Section 4.8. Sufficiency of Assets...................................... 20
Section 4.9. Governmental Permits....................................... 21
Section 4.10. Real Property; Real Property Leases....................... 22
Section 4.11. Personal Property......................................... 23
Section 4.12. Personal Property Leases.................................. 24
Section 4.13. Intellectual Property..................................... 24
Section 4.14. Intentionally Omitted..................................... 24
Section 4.15. Title to Purchased Assets................................. 24
Section 4.16. Employees................................................. 25
Section 4.17. Employee Relations........................................ 25
Section 4.18. Contracts................................................. 26
Section 4.19. Status of Contracts....................................... 27
Section 4.20. No Violation, Litigation or Regulatory Action............. 27
Section 4.21. Insurance................................................. 28
Section 4.22. Employee Plans; ERISA..................................... 29
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Section 4.23. Environmental Protection.................................. 29
Section 4.24. Insolvency Proceedings.................................... 30
Section 4.25. Transactions with Affiliates.............................. 31
Section 4.26. No Finder................................................. 31
ARTICLE V REPRESENTATIONS AND WARRANTIES OF BUYER.......................... 31
Section 5.1. Organization............................................... 31
Section 5.2. Authority of Buyer......................................... 31
Section 5.3. Litigation................................................. 32
Section 5.4. No Finder.................................................. 32
Section 5.5. Qualifications as FCC Licensee............................. 32
Section 5.6. WARN Act................................................... 32
ARTICLE VI ACTION PRIOR TO THE CLOSING DATE................................ 33
Section 6.1. Investigation of the Business.............................. 33
Section 6.2. Notice of Litigation....................................... 33
Section 6.3. FCC Consent; HSR Act Approval; Other Consents and Approvals 33
Section 6.4. Operations of the Station Prior to the Closing Date........ 34
Section 6.5. Third Party Consents....................................... 37
Section 6.6. Environmental Site Assessment.............................. 37
Section 6.7. Public Announcement........................................ 37
Section 6.8. Interim Financial Statements............................... 37
Section 6.9. Administrative Violations.................................. 38
Section 6.10. Bulk Sales Act............................................ 38
Section 6.11. Adverse Developments...................................... 38
Section 6.12. No Solicitation Covenant.................................. 38
Section 6.13. Copies of FCC Applications................................ 41
Section 6.14. Estoppel Certificates / Non-Disturbance Agreement......... 41
Section 6.15. Title Examination; Title Insurance; Surveys............... 41
Section 6.16. Personal Property Leases.................................. 41
Section 6.17. Lien Removal.............................................. 42
ARTICLE VII ADDITIONAL AGREEMENTS.......................................... 42
Section 7.1. Taxes; Sales, Use and Transfer Taxes....................... 42
Section 7.2. Employees; Employee Benefit Plans.......................... 43
Section 7.3. Control of Operations Prior to Closing Date................ 45
Section 7.4. Tax-Free Exchange.......................................... 45
Section 7.5. Covenant Not to Compete or Solicit Business................ 46
Section 7.6. Accounts Receivable........................................ 47
Section 7.7. The Daily Buzz............................................. 48
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ARTICLE VIII CONDITIONS PRECEDENT TO OBLIGATIONS OF BUYER.................. 48
Section 8.1. No Misrepresentation or Breach of Covenants and Warranties. 48
Section 8.2. No Restraint or Litigation................................. 48
Section 8.3. FCC Consent................................................ 49
Section 8.4. Closing Documents.......................................... 49
Section 8.5. Third Party Consents....................................... 49
Section 8.6. Closing of KPLR Transaction................................ 49
ARTICLE IX CONDITIONS PRECEDENT TO OBLIGATIONS OF THE ACME ENTITIES........ 49
Section 9.1. No Misrepresentation or Breach of Covenants and Warranties. 50
Section 9.2. No Restraint or Litigation................................. 50
Section 9.3. FCC Consent................................................ 50
Section 9.4. Closing Documents.......................................... 50
Section 9.5. Closing of KPLR Transaction................................ 50
ARTICLE X INDEMNIFICATION.................................................. 51
Section 10.1. Indemnification by the ACME Entities...................... 51
Section 10.2. Indemnification by Buyer.................................. 52
Section 10.3. Notice of Claims.......................................... 53
Section 10.4. Third Person Claims....................................... 53
Section 10.5. Limitations............................................... 54
ARTICLE XI TERMINATION AND REMEDIES........................................ 55
Section 11.1. Termination............................................... 55
Section 11.2. Notice of Termination..................................... 56
Section 11.3. Effect of Termination..................................... 56
Section 11.4. Liquidated Damages Not a Penalty.......................... 57
ARTICLE XII GENERAL PROVISIONS............................................. 57
Section 12.1. Survival of Representations, Warranties and Obligations... 57
Section 12.2. Confidential Nature of Information........................ 57
Section 12.3. Governing Law............................................. 58
Section 12.4. Notices................................................... 58
Section 12.5. Successors and Assigns.................................... 59
Section 12.6. Access to Records after Closing........................... 59
Section 12.7. Entire Agreement; Amendments.............................. 60
Section 12.8. Interpretation............................................ 60
Section 12.9. Waivers................................................... 60
Section 12.10. Expenses................................................. 60
Section 12.11. Partial Invalidity....................................... 61
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Section 12.12. Execution in Counterparts................................ 61
Section 12.13. Risk of Loss; Damage to Facilities....................... 61
Section 12.14. No Third Party Beneficiaries............................. 62
Section 12.15. Confidentiality Agreement................................ 62
Section 12.16. Performance by Sellers................................... 62
{/TABLE}
iv
{PAGE}
ASSET PURCHASE AGREEMENT
THIS ASSET PURCHASE AGREEMENT, dated as of December 27, 2002 (this
"Agreement"), is made and entered into by and among Tribune Broadcasting
Company, a Delaware corporation ("TBC"), Tribune Denver Radio, Inc., a Delaware
corporation ("Tribune Denver" and together with TBC, "Buyer"), ACME Television
of Oregon, LLC, a Delaware limited liability company ("ACME Oregon" and a
"Seller"), ACME Television Licenses of Oregon, LLC, a Delaware limited liability
company ("ACME Oregon Licensee" and a "Seller"), and ACME Communications, Inc.,
a Delaware corporation ("Parent" and each of Parent, ACME Oregon and ACME Oregon
Licensee being an "ACME Entity" and collectively, the "ACME Entities").
W I T N E S S E T H :
WHEREAS, Sellers are engaged in the business of owning and operating
television broadcast station KWBP-TV, Channel 32 in Portland, Oregon (the
"Station");
WHEREAS, Parent indirectly owns, beneficially and of record, all of
the membership units of ACME Oregon and ACME Oregon Licensee;
WHEREAS, Sellers desire to sell to Buyer, and Buyer desires to
purchase from Sellers, substantially all of the assets, properties and business
relating to the Station, all on the terms and subject to the conditions set
forth herein (the "KWBP Purchase");
WHEREAS, concurrently herewith, TBC, Parent and ACME Television, LLC
have entered into a Stock Purchase Agreement (the "KPLR Stock Purchase
Agreement"), dated as of the date of this Agreement, pursuant to which TBC has
agreed to purchase all of the issued and outstanding shares of capital stock of
ACME Television Holdings of Missouri, Inc. ("ACME Television Missouri") which,
directly and through its subsidiaries, is engaged in the business (the "KPLR
Business") of owning and operating television broadcast station KPLR-TV, Channel
11 in St. Louis, Missouri (such station being "KPLR" and such transaction being
the "KPLR Purchase"); and
WHEREAS, the consummation of the KPLR Purchase and KWBP Purchase are
both conditioned upon the consummation of the other, each as set forth in the
Stock Purchase Agreement and this Agreement, respectively.
NOW, THEREFORE, in consideration of the mutual covenants and
agreements hereinafter set forth, it is hereby agreed among Buyer and the ACME
Entities as follows:
ARTICLE I
DEFINITIONS
SECTION 1.1. DEFINITIONS. In this Agreement, the following terms
have the meanings specified or referred to in this Section 1.1 and shall be
equally applicable to both the singular and plural forms, including any
reference to "Sellers" shall include each Seller individually and collectively
and vice versa, and any reference to "Buyer" shall include each
{PAGE}
Buyer individually and collectively, and vice versa, unless otherwise specified.
Unless the context requires otherwise, references herein (i) to an agreement,
instrument or other document mean such agreement, instrument or other document
as amended, supplemented and modified from time to time to the extent permitted
by the provisions thereof and by this Agreement and (ii) to a statute mean such
statute as amended from time to time and includes any successor legislation
thereto.
"ACCOUNTS RECEIVABLE" means the rights of Sellers as of the Closing
Date to payment in cash for the sale of advertising time and other goods and
services by the Station (including without limitation goods and services
pursuant to any Barter Agreement or Trade Agreement and reimbursements for
cooperative advertising) prior to the Closing Date.
"ACME ANCILLARY AGREEMENTS" has the meaning specified in Section
4.3(a).
"ACME ENTITY" has the meaning specified in the introductory
paragraph hereof.
"ACME GROUP MEMBER" means each ACME Entity and their Affiliates,
directors, officers, managers, employees and agents and their respective
successors and assigns.
"ACME OREGON" has the meaning specified in the introductory
paragraph hereof.
"ACME OREGON LICENSEE" has the meaning specified in the introductory
paragraph hereof.
"ACME TELEVISION MISSOURI" has the meaning specified in the fourth
recital hereof.
"ADMINISTRATIVE VIOLATION" has the meaning specified in Section 6.9.
"AFFILIATE" means, with respect to any Person, any other Person
which directly or indirectly controls, is controlled by or is under common
control with such Person.
"AGREED ACCOUNTING PRINCIPLES" means generally accepted accounting
101775
|
GE Capital
As referenced in this Asset Purchase Agreement:
General Electric Capital Corp – SECTION 6.16. PERSONAL PROPERTY LEASES. Prior to the Closing, Parent
shall cause Sellers to purchase from Wells Fargo Equipment Finance, Inc. and
General Electric Capital Corp oration the property leased under the leases with
such entities referenced in Schedule 4.12 and take such other actions so that
such
_____________
dt 100965
;
Acme
As referenced in this Asset Purchase Agreement:
ACME COMMUNICATIONS, – DECEMBER 27, 2002
AMONG
TRIBUNE BROADCASTING COMPANY,
TRIBUNE DENVER RADIO, INC.,
ACME TELEVISION OF OREGON, LLC,
ACME TELEVISION LICENSES OF OREGON, LLC
AND
ACME COMMUNICATIONS, INC.
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ARTICLE I DEFINITIONS...................................................... 1
Section 1.1. Definitions................................................ 1
ARTICLE II PURCHASE
_____________
ACME Communications, – ACME Oregon" and a
"Seller"), ACME Television Licenses of Oregon, LLC, a Delaware limited liability
company ("ACME Oregon Licensee" and a "Seller"), and ACME Communications, Inc.,
a Delaware corporation ("Parent" and each of Parent, ACME Oregon and ACME Oregon
Licensee being an "ACME Entity" and collectively, the "
_____________
ACME Communications, – Austin Brown & Wood
Bank One Plaza
Chicago, Illinois 60603
Attention: Larry A. Barden
Facsimile: 312-853-7036
If to the ACME Entities, to:
ACME Communications, Inc.
2101 East Fourth Street
Suite 202
Santa Ana, California 92705
Attention: Thomas Allen
Facsimile: 714-245-9494
58
{PAGE}
with a
_____________
ACME COMMUNICATIONS, – PAGE}
IN WITNESS WHEREOF, the parties hereto have caused this Agreement to
be executed as of the day and year first above written.
ACME COMMUNICATIONS, INC.
By:
--------------------------------
Name:
------------------------------
Title:
-----------------------------
ACME TELEVISION OF OREGON, LLC
By:
--------------------------------
Name:
------------------------------
Title:
-----------------------------
ACME TELEVISION LICENSES OF OREGON,
LLC
By:
--------------------------------
Name:
------------------------------
Title:
-----------------------------
TRIBUNE
_____________
ACME
Communications, – of Oregon, LLC.
3. The execution, delivery and performance of the Asset Purchase
Agreement and each of the ACME Ancillary Agreements to which ACME
Communications, Inc. is a party have been duly authorized by all
necessary corporate action on the part of ACME Communications, Inc.,
and the
_____________
dt 220146
;
Nielsen Media
As referenced in this Asset Purchase Agreement:
Nielsen Media Research, Inc – as conducted by Sellers as of the Closing Date (a
"Competitive Business") anywhere within the Portland, Oregon
Designated Market Area (as defined by Nielsen Media Research, Inc .);
or
(ii) until the first anniversary of the Closing Date, neither
the ACME Entities nor any of their Affiliates will induce or
_____________
dt 268258
;
|
Bank One
As referenced in this Asset Purchase Agreement:
Bank One, Na – Code Section 414(m) or (o), of which an ACME Entity is (or at any
relevant time was) a member.
"ESCROW AGENT" means Bank One, Na tional Association.
"ESCROW DEPOSIT" means the sum of Five Hundred Thousand Dollars
($500,000), which is being deposited by Buyer or the qualified
_____________
dt 99955
;
Deutsche Bank
As referenced in this Asset Purchase Agreement:
Deutsche
Bank Securities Inc – such Person's behalf has paid or become obligated to pay any
fee or commission to any broker, finder or intermediary, except for Deutsche
Bank Securities Inc . (the fees and expenses of which shall be payable by the
ACME Entities), for or on account of the transactions contemplated by
_____________
dt 98489
;
More... |
| Preview
Subscribers | 2003 |
Asset Purchase Agreement [Amended and Restated]
Asset Purchase Agreement [Amended and Restated] (467K)
Doc #113245: Click preview link for longer preview.
================================================================================
AMENDED AND RESTATED ASSET PURCHASE AGREEMENT
by and among
CONSECO FINANCE CORP.
THE SELLING SUBSIDIARIES NAMED HEREIN
and
CFN Investment Holdings LLC
Dated as of
March 14, 2003
================================================================================
{PAGE}
TABLE OF CONTENTS
{TABLE}
{CAPTION}
Page
{S} {C} {C} {C}
ARTICLE I. DEFINITIONS............................................................................................1
1.1. Definitions................................................................................1
ARTICLE II. PURCHASE AND SALE OF ASSETS..........................................................................27
2.1. Purchased Assets..........................................................................27
2.2. Liabilities...............................................................................31
2.3. Closing Transactions......................................................................34
2.4. Purchase Price............................................................................37
2.5. Post-Effective Time Amounts Received and Paid.............................................37
2.6. True Sale.................................................................................37
2.7. Assumption of Certain Leases and Contracts................................................37
2.8. Consents to Certain Assignments...........................................................38
2.9. Real Estate Apportionments and Payments...................................................39
ARTICLE III. REPRESENTATIONS AND WARRANTIES OF THE SELLERS.......................................................39
3.1. Organization and Power....................................................................39
3.2. Authorization of Transactions.............................................................40
3.3. Absence of Conflicts; Required Consents, Approvals and Filings............................40
3.4. Company Subsidiaries......................................................................41
3.5. Good Title................................................................................41
3.6. Compliance with Laws; Permits.............................................................41
3.7. Assets Necessary to Conduct Businesses....................................................42
3.8. Facilities; Real Property.................................................................42
3.9. Personal Property.........................................................................44
3.10. Receivables...............................................................................44
3.11. Material Agreements.......................................................................45
3.12. Intellectual Property.....................................................................46
3.13. Brokerage.................................................................................47
3.14. Employees.................................................................................47
3.15. Affiliate Transactions....................................................................47
3.16. ERISA; Employee Benefits..................................................................48
3.17. Depository Institutions...................................................................48
3.18. Litigation................................................................................48
3.19. Financial Statements......................................................................49
3.20. Indebtedness; Guarantees; Absence of Undisclosed Liabilities..............................49
3.21. Residual Assets...........................................................................50
3.22. Tax Matters...............................................................................50
3.23. Insurance.................................................................................55
3.24. Environment, Health and Safety............................................................56
3.25. Accounting Controls.......................................................................56
3.26. Summary of Securitizations................................................................56
3.27. Representations as to Certain Purchased Assets............................................56
3.28. Securities Offerings......................................................................56
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3.29. No Powers of Attorney.....................................................................56
3.30. Securities Laws Matters; No Registration..................................................56
3.31. Green Tree RECS II Guaranty Corporation...................................................57
3.32. Conseco HE/HI 2001-B-2, Inc...............................................................57
3.33. Conseco Finance Securitizations Corp......................................................57
3.34. Green Tree First GP Inc...................................................................57
3.35. Green Tree Second GP Inc..................................................................57
3.36. Conseco Finance Advance Receivables Corp..................................................58
3.37. Conseco Finance Liquidation Expense Advance Receivables 2002-B Corp.......................58
3.38. Convergent Lending Services, LLC..........................................................58
ARTICLE IV. REPRESENTATIONS AND WARRANTIES OF THE BUYER..........................................................59
4.1. Organization and Corporate Power..........................................................59
4.2. Authorization of Transaction..............................................................59
4.3. No Violation..............................................................................59
4.4. Governmental Authorities and Consents.....................................................59
4.5. Litigation................................................................................59
4.6. Brokerage.................................................................................60
4.7. Availability of Funds.....................................................................60
4.8. Stock Purchase............................................................................60
4.9. Knowledge.................................................................................60
ARTICLE V. ADDITIONAL AGREEMENTS.................................................................................60
5.1. Tax Matters...............................................................................60
5.2. Access to Information and Facilities......................................................66
5.3. Confidentiality...........................................................................66
5.4. Conduct of the Businesses Prior to Closing................................................67
5.5. Restrictions on Certain Actions...........................................................67
5.6. Press Releases and Announcements..........................................................69
5.7. Approvals of Third Parties; Satisfaction of Conditions to Closing.........................70
5.8. Bankruptcy Actions........................................................................70
5.9. Exclusivity; No Solicitation of Transactions..............................................71
5.10. Employees.................................................................................72
5.11. Transition................................................................................76
5.12. Seller's Trademarks.......................................................................76
5.13. Notices to Obligors.......................................................................77
5.14. Non-Solicitation and Non-Competition......................................................77
5.15. Further Actions...........................................................................78
5.16. Further Assurances........................................................................78
5.17. Mail Forwarding...........................................................................78
5.18. DIP Loan..................................................................................78
5.19. REMIC Items Reflected on Tax Returns; Bring Down on Certain Information...................78
5.20. Title Insurance...........................................................................79
5.21. Preparation of License Applications.......................................................79
5.22. Provision of Bank Information.............................................................80
5.23. Access to Records After the Closing.......................................................80
5.24. Liens.....................................................................................81
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5.25. Exclusion of Certain Purchased Assets.....................................................81
5.26. Certain Insurance Matters.................................................................81
5.27. Financial Information.....................................................................83
5.28. GE Loan Services; Transition Services.....................................................84
5.29. Intellectual Property Licenses............................................................84
5.30. GE Leases.................................................................................85
5.31. Waiver of B-2 Guarantee Rights............................................................85
5.32. Termination of HE Origination Business....................................................85
5.33. Seller Transition Services................................................................86
ARTICLE VI. CONDITIONS PRECEDENT TO THE BUYER'S OBLIGATIONS......................................................86
6.1. Representations and Warranties; Covenants; Certificates...................................86
6.2. Bankruptcy Condition......................................................................87
6.3. Litigation................................................................................87
6.4. Approvals.................................................................................87
6.5. Instruments of Conveyance and Transfer; Title.............................................87
6.6. Transition Services Agreement.............................................................88
6.7. Resignation or Removal of Officers and Directors of Subject Subsidiaries..................88
6.8. Lehman Facility...........................................................................88
6.9. No Material Adverse Effect................................................................88
6.10. Reserved..................................................................................88
6.11. Servicing Rights..........................................................................89
6.12. Tax Opinion...............................................................................89
6.13. Data Service Contracts....................................................................90
6.14. Acceptance of Employment Offers...........................................................90
6.15. Parent Guarantee..........................................................................90
6.16. Goldman...................................................................................91
ARTICLE VII. CONDITIONS PRECEDENT TO THE SELLERS' OBLIGATIONS....................................................91
7.1. Representations and Warranties; Covenants; Certificates...................................91
7.2. Bankruptcy Condition......................................................................91
7.3. Litigation................................................................................91
7.4. Approvals.................................................................................92
7.5. Reserved..................................................................................92
7.6. Other Documents...........................................................................92
ARTICLE VIII. TERMINATION........................................................................................92
8.1. Termination Prior to Closing..............................................................92
8.2. Break-Up Fee and Expense Reimbursement....................................................93
8.3. Termination by Reason of Buyer Default....................................................94
8.4. Effect of Termination.....................................................................95
ARTICLE IX. SURVIVAL OF REPRESENTATIONS; INDEMNIFICATION.........................................................95
9.1. Survival of Representations...............................................................95
9.2. Indemnification...........................................................................96
9.3. Qualifications on Indemnification.........................................................96
9.4. Notice and Defense of Claims..............................................................97
{/TABLE}
-iii-
{PAGE}
{TABLE}
{S} {C} {C} {C}
9.5. Tax Treatment.............................................................................98
9.6. Remedy....................................................................................98
9.7. Administrative Expense; Administrative Priority...........................................98
ARTICLE X. MISCELLANEOUS.........................................................................................99
10.1. Expenses..................................................................................99
10.2. Amendment and Waiver......................................................................99
10.3. Notices...................................................................................99
10.4. Binding Agreement; Assignment............................................................100
10.5. Severability.............................................................................101
10.6. Construction.............................................................................101
10.7. Captions.................................................................................101
10.8. Entire Agreement.........................................................................101
10.9. Counterparts.............................................................................102
10.10. Governing Law............................................................................102
10.11. Parties in Interest......................................................................102
10.12. Consent to Jurisdiction..................................................................102
10.13. Delivery by Facsimile....................................................................102
10.14. Disclosure Schedules.....................................................................103
10.15. Specific Performance.....................................................................103
{/TABLE}
-iv-
{PAGE}
ASSET PURCHASE AGREEMENT
THIS AMENDED AND RESTATED ASSET PURCHASE AGREEMENT (this
"Agreement") is made as of March 14, 2003, by and among Conseco Finance Corp., a
Delaware corporation (the "Company"), the Subsidiaries of the Company owning
Purchased Assets, which are named on the signature pages hereof or become
parties hereto in accordance with this Agreement (the "Selling Subsidiaries"),
and CFN Investment Holdings LLC, a Delaware limited liability company (the
"Buyer") and amends and restates the Asset Purchase Agreement, dated as of
December 19, 2002, by and among the Company, the Selling Subsidiaries and the
Buyer, as amended (the "Original Agreement"). The Company and the Selling
Subsidiaries are collectively referred to herein as the "Sellers" and,
individually, as a "Seller". The Sellers, the Parent and the Buyer are
collectively referred to herein as the "Parties" and, individually, as a
"Party".
WHEREAS, on the terms and subject to the conditions set forth
in this Agreement, the Buyer desires to purchase from the Sellers, and the
Sellers desire to sell to the Buyer, the Purchased Assets, in a sale authorized
by the Bankruptcy Court pursuant to, inter alia, sections 105, 363, 365 and
1146(c) of the Bankruptcy Code;
WHEREAS, it is intended that the acquisition of the Purchased
Assets would be accomplished through the sale, transfer and assignment of assets
of the Company and the Selling Subsidiaries owning, leasing or having the right
to use the Purchased Assets and/or, as provided herein, through the sale of
capital stock of one or more direct or indirect Subsidiaries of the Company;
WHEREAS, the Buyer also desires to assume, and the Sellers
desire to assign and transfer, the Assumed Liabilities; and
WHEREAS, the Company and the Filing Company Subsidiaries
either have filed or will file a Chapter 11 Case and have obtained
debtor-in-possession financing from FPS DIP LLC.
NOW, THEREFORE, in consideration of the premises and mutual
promises herein made, and in consideration of the representations, warranties
and covenants herein contained, the Parties hereby agree as follows:
ARTICLE I.
DEFINITIONS
1.1. Definitions. For purposes of this Agreement, the following
terms shall have the meanings set forth below:
"Accrued and Unpaid Interest" means, with respect to any Loan,
as of any date, the interest, fees, premiums, consignment fees, costs, advances
and other charges that have accrued on such Loan (whether or not such fees,
costs or charges have been billed) but have not been paid by the Obligor on such
Loan or otherwise collected by offset, recourse to collateral or otherwise.
-1-
{PAGE}
"Acquisition Proposal" means a written proposal(s) relating to
(a) any merger, consolidation, business combination, sale, reorganization or
other direct or indirect disposition of one or more of the Purchased Businesses
or of all or a portion of the Purchased Assets, pursuant to one or more
transactions, to one or more affiliated or unaffiliated parties (other than
transactions in the ordinary course of business or transactions permitted or
approved pursuant to Section 5.5), (b) the sale of 20% or more of the
outstanding shares of capital stock of the Company (including, without
limitation, by way of foreclosure or plan of reorganization or liquidation) to
one or more affiliated or unaffiliated parties or a similar transaction
involving one or more affiliated or unaffiliated parties, or (c) any transaction
or series of transactions in which a Person or group provides or commits to
provide $50 million or more of capital to the Company or its Subsidiaries
(whether as debt or equity or a combination thereof) (other than (i) debt
financing in which none of the Purchased Assets is pledged as collateral or
subjected to any Lien other than Permitted Liens, (ii) the DIP Loan, (iii) the
Additional Lehman Debt and (iv) transactions specifically contemplated by the GE
Approved Agreement).
"Additional Lehman Debt" means an additional warehouse
financing facility (or an amendment of an existing Lehman Facility) in an amount
not to exceed $250 million to finance the origination of Loans by the Company
and its Subsidiaries, which, subject to Section 5.5(b), would be included in the
Purchased Assets, on terms and conditions reasonably satisfactory to the Buyer.
"Affiliate" of any particular Person means any other Person
controlling, controlled by or under common control with such particular Person,
where "control" means the possession, directly or indirectly, of the power to
direct the management and policies of a Person whether through the ownership of
voting securities or otherwise.
"Affiliated Group" means any affiliated group of corporations
within the meaning of Section 1504(a) of the Tax Code as well as any other group
of corporations filing a consolidated, combined, or unitary Income Tax Return
under federal, state, local or foreign Law.
"Agreement" shall have the meaning set forth in the Recitals.
"ALTA" means the American Land Title Association. ----
"Assigned Receivables" means those Receivables identified in
Section 3.10(a) of the applicable Business Schedules with respect to a
particular Purchased Business, and any Receivables generated by the applicable
Purchased Business in the ordinary course from and including the last date as of
which the Business Schedules identifying such Receivables are updated under this
Agreement through the Closing Date, and including all obligations to make
additional extensions of credit under the Assumed Receivables Contracts.
"Assumed Agreements" means, collectively, the Assumed Leases,
the Assumed Contracts, the Assumed Retention Agreements and the Assumed
Receivables Contracts.
"Assumed Contracts" means those Contracts identified in
Section 2.1(a) of the applicable Business Schedules under the heading "Assumed
Contracts", but excluding (i) Assumed Leases, Assumed Receivables Contracts and
those Contracts that expire or are
113245
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GE Capital
As referenced in this Asset Purchase Agreement [Amended and Restated]:
General Electric Capital
Corp – assume the Excluded
Servicing Liabilities or any Guarantees given to any holders
of interests in a Securitization.
-28-
{PAGE}
(iv) The Company and General Electric Capital
Corp oration or one or more of its affiliates ("GE") shall not
enter into an asset purchase agreement for the purchase and
sale of
_____________
dt 100788
;
Chicago Title
As referenced in this Asset Purchase Agreement [Amended and Restated]:
Chicago Title Insurance – delivered to the Buyer a
commitment for a 1992 form ALTA title insurance policy (the "Title Commitments")
for each Owned Real Premises from Chicago Title Insurance Company (the "Title
Company"). At the Buyer's sole discretion, the Buyer may deliver written notice
to the Sellers not later than the
_____________
dt 157761
;
Conseco
As referenced in this Asset Purchase Agreement [Amended and Restated]:
Conseco, Inc – Code, (III)
Granting Adequate Protection Pursuant to Sections 363 and 364 of the Bankruptcy
Code, and (IV) Approving the Tax Indemnity Obligations of Conseco, Inc .
hereunder filed with the Bankruptcy Court on March 4, 2003.
"Goldman Expense Reimbursement" means the payment of $5
million for expenses incurred
_____________
Conseco, Inc – Business Schedules pursuant to which a Seller leases all or any part
of the Owned Real Premises as the landlord thereunder.
"Parent" means Conseco, Inc ., an Indiana corporation.
"Parties" shall have the meaning set forth in the Recitals.
"Party" shall have the meaning set forth in the
_____________
dt 220264
;
|
CSFB Mortgage
As referenced in this Asset Purchase Agreement [Amended and Restated]:
Credit Suisse First Boston
Mortgage Capital – between the
Company and U.S. Bank (the "U.S. Bank Credit Agreement"); and the Master
Repurchase Agreement dated April 16, 1999 between Credit Suisse First Boston
Mortgage Capital LLC and Green Tree Financial Corporation (the Company), as
amended by Annex I--Amended and Restated Supplemental Terms to Master Repurchase
Agreement, dated
_____________
dt 113004
;
Fannie Mae
As referenced in this Asset Purchase Agreement [Amended and Restated]:
Federal National Mortgage Association – the
"Unsecured Creditors Committee"), the Ad Hoc Committee of Certificateholders
(the "Ad Hoc Committee") and Federal National Mortgage Association ("Fannie
Mae"), evidencing the consent of the Trustees, the Unsecured Creditors
Committee, the Ad
_____________
dt 80335
;
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Asset Purchase Agreement
Asset Purchase Agreement (414K)
Doc #113246: Click preview link for longer preview.
ASSET PURCHASE AGREEMENT
THIS ASSET PURCHASE AGREEMENT is made as of March 14, 2003, by
and among Conseco Finance Corp., a Delaware corporation (the "Company"), the
Subsidiaries of the Company owning Purchased Assets, which are named on the
signature pages hereof or become parties hereto in accordance with this
Agreement (the "Selling Subsidiaries"), and General Electric Capital
Corporation, a Delaware corporation (the "Buyer"). The Company and the Selling
Subsidiaries are collectively referred to herein as the "Sellers" and,
individually, as a "Seller". The Sellers, the Parent and the Buyer are
collectively referred to herein as the "Parties" and, individually, as a
"Party".
WHEREAS, on the terms and subject to the conditions set forth
in this Agreement, the Buyer desires to purchase from the Sellers, and the
Sellers desire to sell to the Buyer, the Purchased Assets and, with respect to
the Company and the Filing Company Subsidiaries, in a sale authorized by the
Bankruptcy Court pursuant to, inter alia, sections 105, 363, 365 and 1146(c) of
the Bankruptcy Code;
WHEREAS, it is intended that the acquisition of the Purchased
Assets be accomplished through the sale, transfer and assignment of assets of
the Company and the Selling Subsidiaries owning, leasing or having the right to
use the Purchased Assets and/or, as provided herein, through the sale of capital
stock of one or more direct or indirect Subsidiaries of the Company;
WHEREAS, the Buyer also desires to assume, and the Sellers
desire to assign and transfer, the Assumed Liabilities; and
WHEREAS, the Company and the Filing Company Subsidiaries
either have filed or will file one or more Chapter 11 Cases.
NOW, THEREFORE, in consideration of the premises and mutual
promises herein made, and in consideration of the representations, warranties
and covenants herein contained, the Parties hereby agree as follows:
ARTICLE 1
DEFINITIONS
1.1 Definitions. For purposes of this Agreement, the following terms
shall have the meanings set forth below:
"Accounting Principles" means the accounting principles (including
accounting methods, practices and procedures) set forth in Part II of Section
1.1A of the Business Schedules. When the accounting principles (including
accounting methods,
{PAGE}
practices and procedures) set forth in Part II of Section
1.1A of the Business Schedules do not specifically address a particular matter
necessary to prepare the Schedule of Assets Acquired and Liabilities Assumed,
then the accounting principles (including accounting methods, practices and
procedures) set forth in Part II of Section 1.1A of the Business Schedules shall
be supplemented in accordance with GAAP, but only to the extent necessary to
address such matter.
"Accrued and Unpaid Interest" means, with respect to any Loan, as
of any date, the interest, fees, premiums, consignment fees, costs, advances and
other charges that have accrued on such Loan (whether or not such fees, costs or
charges have been billed) but have not been paid by the Obligor on such Loan or
otherwise collected by offset, recourse to collateral or otherwise.
"Acquired Securitization Assets" means the PL Residual Assets.
"Active Merchant Agreements" means program agreements set forth in
Section 2.1(a)(A)(iii) of the Business Schedules.
"Acxiom Models" means (a) all of the models set forth in
Attachment E to Section 3.12(a) of the Business Schedules, that are designated
therein as Purchased Assets, other than the Credit Lifecycle and Clustering
113246
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GE Capital
As referenced in this Asset Purchase Agreement:
General Electric Capital
Corp – Purchased Assets, which are named on the
signature pages hereof or become parties hereto in accordance with this
Agreement (the "Selling Subsidiaries"), and General Electric Capital
Corp oration, a Delaware corporation (the "Buyer"). The Company and the Selling
Subsidiaries are collectively referred to herein as the "Sellers" and,
individually, as
_____________
General Electric Capital Corp – Ellis
200 East Randolph Drive
Chicago, IL 60601
Attention: James H.M. Sprayregen, P.C.
Telecopy: (312) 861-2200
Notices to the Buyer: General Electric Capital Corp oration
-------------------- General Electric Consumer Finance
1600 Summer Street
Stamford, CT 06905
Attention: Ron Lemmens
Telecopy: (203) 602-8626
with copies (which shall not
_____________
General Electric Capital Corp – Consumer Finance
1600 Summer Street
Stamford, CT 06905
Attention: Ron Lemmens
Telecopy: (203) 602-8626
with copies (which shall not constitute
notice) to:
General Electric Capital Corp oration
General Electric Consumer Finance
1600 Summer Street
Stamford, CT 06905
Attention: General Counsel
General Electric Consumer Finance
Americas
Telecopy: (203) 961-5331
_____________
GENERAL ELECTRIC CAPITAL CORP – day of _________ __, 2003
---------------------------
Notary Public
{PAGE}
================================================================================
ASSET PURCHASE AGREEMENT
by and among
CONSECO FINANCE CORP.,
THE SELLING ENTITIES NAMED HEREIN
and
GENERAL ELECTRIC CAPITAL CORP ORATION
Dated as of
March 14, 2003
================================================================================
{PAGE}
TABLE OF CONTENTS
{TABLE}
{CAPTION}
Page
{S} {C} {C} {C} {C}
ARTICLE 1 DEFINITIONS.......................................................................1
_____________
dt 100789
;
Acxiom
As referenced in this Asset Purchase Agreement:
"Acxiom – the PL Residual Assets.
"Active Merchant Agreements" means program agreements set forth in
Section 2.1(a)(A)(iii) of the Business Schedules.
"Acxiom Models" means (a) all of the models set forth in
Attachment E to Section 3.12(a) of the Business Schedules, that are
_____________
Acxiom – in the Purchased Businesses as
operated by the CFC Parties prior to the Cut-Off Time, and were created (i)
pursuant to the Acxiom Contracts set forth in Attachment A to 2.1(a) of the
Business Schedules and Section 6.13 of the Business Schedules or (
_____________
Acxiom
– Section 6.13 of the Business Schedules or (ii) developed
by a CFC Party or a Third Party and administered pursuant to the Acxiom
Contracts set forth in Attachment A to 2.1(a) of the Business Schedules and
Section 6.13 of the Business Schedules.
"
_____________
Acxiom – forth in Attachment E to Section 3.12(a) of the Business Schedules,
that are designated therein as Purchased Assets, other than the Acxiom Models,
and all associated software programs, algorithms, scripts, interfaces, data
layouts, database schema, decision engines
7
{PAGE}
and strategies and all other data
_____________
Acxiom – and record owner as to each; (ii) material
unregistered Transferred Trademarks; (iii) material software, applications and
tools; (iv) Transferred Intellectual Property Agreements; (v) Acxiom Models and
Credit Lifecyle and Clustering Models; and (vi) Internet domain names, all of
which items (i) - (vi) above are included in the
_____________
dt 95951
;
American Honda
As referenced in this Asset Purchase Agreement:
American Honda Motor Co. – option, be excluded from both the denominator and the numerator of
such calculation and (y) the Revolving Credit Program Agreement
between the Company and Conseco Bank, Inc. as assignees and
American Honda Motor Co. shall be included in the calculation as
if consent to transfer of such agreement is required and as if
such consent has been obtained.
(ii) amendments to the Active
_____________
dt 1542554
;
|
Conseco
As referenced in this Asset Purchase Agreement:
Conseco, Inc – 20E of Condominium Number 201, Park
Towers, all located in St. Paul, MN and (ii) 1400 Turbine Drive, Rapid City, SD.
"Parent" means Conseco, Inc ., an Indiana corporation.
"Parties" shall have the meaning set forth in the Preamble.
"Participating Affiliates" shall have the meaning set forth in
_____________
dt 220265
;
DB Trust
As referenced in this Asset Purchase Agreement:
Deutsche Bank Trust
Co – amount not to
exceed $250 million to finance the origination of loans by the Company and its
Subsidiaries.
"Administrative Claims Escrow Agent" means Deutsche Bank Trust
Co mpany Americas.
"Administrative Claims Escrow Agreement" means an escrow agreement
between the Administrative Claims Escrow Agent, the Buyer and the Company in
form
_____________
dt 113699
;
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Asset Purchase Agreement
Asset Purchase Agreement (20K)
Doc #117510: Click preview link for longer preview.
ASSET PURCHASE AGREEMENT
PARTIES:
This Agreement is made and entered into as of the 30TH day of July, 2002,
by and between Xenotech Rental Corp., a Nebraska corporation (hereinafter
referred to as "Xenotech Rental"), and Ballantyne of Omaha, Inc., a Delaware
corporation (hereinafter referred to as "BTN") and Arc Light Efx, Inc., a
California corporation (hereinafter referred to as "ALEI").
RECITALS:
A. Xenotech Rental is engaged in the business of the rental of lighting
equipment.
B. BTN is the parent company of Xenotech Rental and is engaged in the
business of the manufacture of lighting equipment.
C. ALEI desires to purchase from Xenotech Rental, and Xenotech Rental
desires to sell to ALEI, certain of the assets of Xenotech Rental pertaining to
its rental of lighting equipment business.
AGREEMENT:
NOW, THEREFORE, in consideration of the recitals and the mutual agreements,
provisions and covenants herein contained, the parties hereto agree as follows:
SECTION 1. SALE OF ASSETS. Subject to the terms and conditions of this
Agreement, Xenotech Rental agrees to sell, assign, transfer and deliver to ALEI,
and ALEI shall buy, accept and receive from Xenotech Rental, on the Closing
Date, the following-described properties and Assets (collectively the "Assets"),
as set forth on Exhibit "1," attached hereto, and by this reference,
incorporated herein, free and clear of all liens and encumbrances.
SECTION 2 CONSIDERATION PAYABLE TO XENOTECH RENTAL BY ALEI FOR THE ASSETS
{Page}
2.1 PURCHASE PRICE. ALEI agrees to purchase the Assets from Xenotech Rental
and to pay to Xenotech Rental the sum of Five Hundred Thousand Dollars
($500,000.00) (the "Purchase Price").
2.2 PAYMENT OF PURCHASE PRICE. The Purchase Price shall be paid by wire
117510
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GE Capital
As referenced in this Asset Purchase Agreement:
GENERAL ELECTRIC CAPITAL CORP – Xenotech Rental and BTN authorizing the transactions contemplated by this
Agreement, certified by the Secretary of Xenotech Rental and BTN.
3.3.3 GENERAL ELECTRIC CAPITAL CORP ORATION CONSENT. A signed copy of the
consent of General Electric Capital Corporation to the sale of the Assets.
{Page}
SECTION 4 REPRESENTATIONS
_____________
General Electric Capital Corp – by the Secretary of Xenotech Rental and BTN.
3.3.3 GENERAL ELECTRIC CAPITAL CORPORATION CONSENT. A signed copy of the
consent of General Electric Capital Corp oration to the sale of the Assets.
{Page}
SECTION 4 REPRESENTATIONS AND WARRANTIES OF XENOTECH RENTAL.
Xenotech Rental hereby represents and warrants to
_____________
General Electric Capital Corp – TO OBLIGATIONS OF XENOTECH RENTAL. The
obligation of Xenotech Rental to sell the Assets to ALEI are subject to
obtaining the approval of General Electric Capital Corp oration to the sale of
the Assets on or before the Closing Date.
SECTION 8 EXPENSES. Except as otherwise provided in this Agreement,
_____________
dt 100791
;
|
Ballantyne
As referenced in this Asset Purchase Agreement:
Ballantyne of Omaha, – of the 30TH day of July, 2002,
by and between Xenotech Rental Corp., a Nebraska corporation (hereinafter
referred to as "Xenotech Rental"), and Ballantyne of Omaha, Inc., a Delaware
corporation (hereinafter referred to as "BTN") and Arc Light Efx, Inc., a
California corporation (hereinafter referred to as "ALEI").
_____________
Ballantyne of Omaha, – have the right to occupy the premises currently occupied by
Xenotech Rental at 7344-7348 Belaire Avenue, North Hollywood, California. ALEI
acknowledges that Ballantyne of Omaha, Inc.'s lease shall expire on the earlier
of September 30, 2002, or forty-five (45) days after landlord shall have given
_____________
Ballantyne of Omaha, – that he has released the premises to
a new tenant. ALEI shall vacate said premises on or before said date. ALEI shall
reimburse Ballantyne of Omaha, Inc., for the period of time in which ALEI shall
occupy the premises based on the current rent being paid by Ballantyne
_____________
Ballantyne of Omaha, – of Omaha, Inc., for the period of time in which ALEI shall
occupy the premises based on the current rent being paid by Ballantyne of Omaha,
Inc.
SECTION 11 PREFERENTIAL PRICING.
BTN shall grant ALEI preferential pricing on all product purchased from
BTN. ALEI shall receive a discount
_____________
dt 220223
|
| Preview
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Asset Purchase Agreement
Asset Purchase Agreement (276K)
Doc #124450: Click preview link for longer preview.
ASSET PURCHASE AGREEMENT
ASSET PURCHASE AGREEMENT, dated as of December 11, 2000, by and among Niagara Mohawk Power Corporation, a New York corporation ("NMPC"), New York State Electric & Gas Corporation, a New York corporation ("NYSEG"), Rochester Gas and Electric Corporation, a New York corporation ("RG&E"), and Central Hudson Gas & Electric Corporation, a New York corporation ("CHGEC"); (NMPC, NYSEG, RG&E and CHGEC are each individually referred to herein as a "Seller" and collectively as "Sellers") and Constellation Energy Group, Inc., a Maryland corporation ("Parent") and Constellation Nuclear, LLC, a Maryland limited liability company and a wholly-owned subsidiary of Parent ("Buyer "). Sellers, Parent and Buyer are referred to individually as a "Party," and collectively as the "Parties."
W I T N E S S E T H
WHEREAS, except as set forth on Schedule 4.7 hereto, each Seller owns, as a tenant-in-common in the percentage set forth opposite such Seller's name on Schedule 1 hereto (" Proportionate Ownership"), an undivided interest in Nine Mile Point Unit 2 Nuclear Generating Facility ("NMP-2"), NRC Operating License No. NPF-69, located near Oswego, New York, and certain facilities and other assets associated therewith and ancillary thereto;
WHEREAS, NMPC is responsible for the daily operations of NMP-2 pursuant to the terms of the Nine Mile Point Nuclear Station Unit 2 Operating Agreement, effective as of January 1, 1993, as amended, among the Co-Tenants (as defined below);
WHEREAS, Buyer desires to purchase and assume, and Sellers desire to sell and assign the Purchased Interests (as defined in Section 2.1 below) and certain associated liabilities, upon the terms and conditions hereinafter set forth in this Agreement;
WHEREAS, the Parties desire that Parent support the obligations of Buyer hereunder through the Closing; and
WHEREAS, simultaneously with the execution hereof, Buyer and NMPC are entering into an Asset Purchase Agreement whereby Buyer will purchase the interests of NMPC in the Nine Mile Point Unit 1 Nuclear Generating Facility, NRC Operating License No. DPR-63 (collectively the "NMP-1 Interests").
NOW, THEREFORE, in consideration of the mutual covenants, representations, warranties and agreements hereinafter set forth, and intending to be legally bound hereby, the Parties agree as follows:
ARTICLE I
DEFINITIONS
1.1. Definitions. As used in this Agreement, the following terms have the meanings specified in this Section 1.1.
(1) "ABO" has the meaning set forth in Section 6.10(h)(A)(I).
(2) "Additional Co-Tenant Interest Acquisition" has the meaning set forth in Section 6.4.
(3) "Affiliate" has the meaning set forth in Rule 12b-2 of the General Rules and Regulations under the Securities Exchange Act of 1934.
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