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Asset Purchase Agreement
Asset Purchase Agreement (289K)
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ASSET PURCHASE AGREEMENT
AMONG
NATURAL SODA AALA, INC.,
AMERALIA, INC.,
WHITE RIVER NAHCOLITE
MINERALS LTD. LIABILITY CO.
AND
IMC GLOBAL INC.
DATED AS OF JANUARY 9, 2003
================================================================================
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TABLE OF CONTENTS
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ARTICLE I DEFINITIONS AND TERMS
Section 1.1 Certain Definitions.......................................................................1
Section 1.2 Other Terms..............................................................................12
Section 1.3 Other Definitional Provisions............................................................12
ARTICLE II PURCHASE AND SALE OF ASSETS AND ASSUMPTION OF LIABILITIES
Section 2.1 Assets to be Purchased...................................................................12
Section 2.2 Excluded Assets..........................................................................14
Section 2.3 Assumed Liabilities......................................................................15
Section 2.4 Excluded Liabilities.....................................................................17
Section 2.5 Purchase Price; Purchase Price Adjustment................................................18
Section 2.6 Allocation of the Purchase Price; Tax Treatment of Adjustments and
Indemnifications.........................................................................................20
Section 2.7 Closings; Delivery and Payment...........................................................21
Section 2.8 Deliveries by Seller and Parent..........................................................21
Section 2.9 Deliveries by Buyer and AmerAlia.........................................................22
Section 2.10 Arrangement Regarding Outstanding Consents...............................................23
Section 2.11 Transfer Taxes...........................................................................24
ARTICLE III REPRESENTATIONS AND WARRANTIES OF SELLER AND PARENT
Section 3.1 Organization of Seller...................................................................24
Section 3.2 Authority of Seller and Parent; Binding Effect...........................................25
Section 3.3 Non-Contravention........................................................................25
Section 3.4 Consents and Approvals...................................................................26
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Section 3.5 Financial Information....................................................................26
Section 3.6 Absence of Undisclosed Liabilities.......................................................26
Section 3.7 Absence of Certain Changes or Events.....................................................27
Section 3.8 Litigation and Claims....................................................................27
Section 3.9 Compliance with Laws.....................................................................27
Section 3.10 Environmental Matters....................................................................28
Section 3.11 Material Contracts.......................................................................30
Section 3.12 Intellectual Property....................................................................31
Section 3.13 Taxes....................................................................................32
Section 3.14 Employee Benefit Plans...................................................................33
Section 3.15 Labor Relations and Employment...........................................................35
Section 3.16 Real Property; Personal Property; Sufficiency of Assets..................................36
Section 3.17 Insurance................................................................................37
Section 3.18 Books and Records........................................................................37
Section 3.19 Brokers, Finders Fees....................................................................37
Section 3.20 Bonds....................................................................................37
Section 3.21 No Other Commitments.....................................................................38
Section 3.22 Transactions with Affiliates.............................................................38
Section 3.23 Foreign Sales............................................................................38
Section 3.24 Solvency of Seller.......................................................................38
Section 3.25 Warranty Agreements; Warranty Claims.....................................................38
Section 3.26 Product Sales Orders.....................................................................39
Section 3.27 No Other Representations or Warranties...................................................39
ARTICLE IV REPRESENTATIONS AND WARRANTIES OF BUYER AND AMERALIA
Section 4.1 Organization of Buyer and AmerAlia.......................................................39
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Section 4.2 Authority of Buyer and AmerAlia; Binding Effect..........................................40
Section 4.3 Non-Contravention........................................................................40
Section 4.4 Consents and Approvals...................................................................41
Section 4.5 Financial Capability.....................................................................41
Section 4.6 Litigation and Claims....................................................................41
Section 4.7 Compliance with Laws.....................................................................42
Section 4.8 Solvency of Buyer........................................................................42
Section 4.9 Brokers, Finders Fees....................................................................42
Section 4.10 No Other Representations or Warranties...................................................42
ARTICLE V COVENANTS
Section 5.1 Access and Investigation.................................................................42
Section 5.2 Conduct of Business......................................................................44
Section 5.3 Posting of Guaranty or other Security....................................................46
Section 5.4 Title Defects Identified in Title Insurance Commitments..................................46
Section 5.5 Further Assurances.......................................................................46
Section 5.6 Employee Matters.........................................................................48
Section 5.7 Post-Closing Cooperation; Filing of Tax Returns..........................................51
Section 5.8 Books and Records of the Business Post Closing...........................................52
Section 5.9 Customers and Other Business Relationships...............................................53
Section 5.10 Removing Excluded Assets.................................................................53
Section 5.11 No Negotiation...........................................................................53
Section 5.12 Certain Transactions.....................................................................53
Section 5.13 Notice of Breach.........................................................................54
Section 5.14 Nonsolicitation..........................................................................54
Section 5.15 Announcements............................................................................55
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Section 5.16 Confidential Information.................................................................55
Section 5.17 Change of Name; Removal of References to White River Name................................56
Section 5.18 Recordable Intellectual Property Assignments.............................................56
Section 5.19 Distribution Agreement...................................................................57
Section 5.20 Updated Financial Statements.............................................................57
Section 5.21 UIC Permit Transfer......................................................................57
Section 5.22 UIC Permit Revocation and Reissuance.....................................................57
Section 5.23 Extension or Renewal of Certain Contracts................................................57
Section 5.24 Cooperation in Obtaining Certain Governmental Authorizations.............................58
Section 5.25 Consents to Assignment...................................................................58
Section 5.26 Sale of Water Rights.....................................................................58
ARTICLE VI CONDITIONS TO CLOSING
Section 6.1 Conditions to the Obligations of Buyer and Seller........................................59
Section 6.2 Conditions to the Obligations of Buyer...................................................59
Section 6.3 Conditions to the Obligations of Seller..................................................60
Section 6.4 Frustration of Closing Conditions........................................................60
ARTICLE VII SURVIVAL AND INDEMNIFICATION
Section 7.1 Survival.................................................................................61
Section 7.2 Indemnification by Buyer and AmerAlia....................................................61
Section 7.3 Indemnification by Seller and Parent relating to Matters other than UIC NOV's or
EPA's Failure to Transfer the UIC Permit.................................................................63
Section 7.4 Indemnification by Seller and Parent for UIC NOV's.......................................64
Section 7.5 EPA Failure to Transfer the UIC Permit...................................................64
Section 7.6 Indemnification Procedures...............................................................65
Section 7.7 Computation of Losses Subject to Indemnification.........................................67
Section 7.8 Certain Other Matters....................................................................67
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ARTICLE VIII TERMINATION
Section 8.1 Termination..............................................................................68
Section 8.2 Effect of Termination....................................................................69
ARTICLE IX RESCISSION
Section 9.1 Failure to Transfer UIC Permit...........................................................69
Section 9.2 Rescission...............................................................................70
Section 9.3 Estimated Rescission Adjustment Amount; Dispute Resolution; Payment......................70
Section 9.4 Rescission Closing.......................................................................72
Section 9.5 Documents................................................................................72
Section 9.6 Representations and Warranties of Buyer and AmerAlia.....................................72
Section 9.7 Covenants of Buyer and AmerAlia..........................................................72
Section 9.8 Conduct of Business......................................................................73
Section 9.9 Consents; Posting of Guaranty or Other Security..........................................75
Section 9.10 Arrangements Regarding Outstanding Consents..............................................75
Section 9.11 Indentures and Credit Restrictions.......................................................76
Section 9.12 Further Assurances.......................................................................77
Section 9.13 Intent and Interpretation................................................................77
ARTICLE X MISCELLANEOUS
Section 10.1 Notices..................................................................................78
Section 10.2 Amendment; Waiver........................................................................79
Section 10.3 Assignment...............................................................................79
Section 10.4 Risk of Loss.............................................................................80
Section 10.5 Entire Agreement.........................................................................80
Section 10.6 Expenses.................................................................................80
Section 10.7 GOVERNING LAW............................................................................81
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Section 10.8 Severability.............................................................................81
Section 10.9 Counterparts.............................................................................81
Section 10.10 Interpretation...........................................................................81
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LIST OF EXHIBITS
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Section First
Exhibit Title Referenced
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{S} {C} {C}
Exhibit A Form of Bill of Sale Section 2.8(a)
Exhibit B Form of Deeds and Conveyance Documents of Owned Real Section 2.8(b)
Property
Exhibit C Form of Assignment and Assumption of Leased Real Section 2.8(b)
Property
Exhibit D Form of Assignment of Business Intellectual Property Section 2.8(c)
Exhibit E Form of Sublease Agreement for Railway Hopper Cars Section 2.8(g)
Exhibit F Form of Transition Services Agreement Section 2.8(h)
Exhibit G Form of Instrument of Assumption Section 2.9(b)
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vii
{PAGE}
CONFIDENTIAL DRAFT
ASSET PURCHASE AGREEMENT dated as of January 9, 2003, by and among
Natural Soda AALA, Inc., a Colorado corporation ("Buyer") and AmerAlia, Inc., a
Utah corporation ("AmerAlia"), on the one hand, and White River Nahcolite
Minerals Ltd. Liability Co., a Colorado limited liability company ("Seller") and
IMC Global Inc., a Delaware corporation and the indirect beneficial owner of all
of the outstanding equity interests in Seller ("Parent"), on the other hand.
WITNESSETH:
WHEREAS, Seller owns and operates the Business (as hereinafter
defined);
WHEREAS, Seller is an indirect wholly-owned Subsidiary of
Parent;
WHEREAS, on the terms and subject to the conditions set forth
herein, Seller desires to sell to Buyer, and Buyer desires to purchase from
Seller, substantially all of the assets and rights of the Business (other than
those specifically excluded as described in this Agreement), and to assume
substantially all the liabilities relating thereto (other than those
specifically excluded as described in this Agreement);
WHEREAS, AmerAlia currently is the direct beneficial owner of
all of the outstanding stock of Natural Soda, Inc., which owns all of the
outstanding equity interests in Buyer, and at the time of Closing AmerAlia will
own a majority of the outstanding voting stock of Natural Soda, Inc.
NOW, THEREFORE, in consideration of the mutual covenants and
undertakings contained herein, and subject to and on the terms and conditions
herein set forth, the parties hereto intending to be legally bound agree as
follows:
ARTICLE I
DEFINITIONS AND TERMS
Section 1.1 Certain Definitions. As used in this Agreement,
the following terms shall have the meanings set forth or as referenced below:
"Action" shall mean any claim, cause of action, suit,
proceeding or chose in action brought before any Governmental Authority or
arbitrator by any Person who is not a party to this Agreement and is not an
Affiliate of Seller or Buyer.
"Adjustment Amount" shall have the meaning set forth in
Section 2.5(c)(i).
{PAGE}
"Adjustment Auditor" shall have the meaning set forth in
Section 2.5(c)(ii).
"Affiliate" shall mean, with respect to any Person, any other
Person directly or indirectly controlling, controlled by, or under common
control with, such Person at anytime during the period for which the
determination of affiliation is being made.
"Agreement" shall mean this Agreement, together with the
Seller Disclosure Letter, the Buyer Disclosure Letter and all exhibits and
schedules, as the same may be amended or supplemented from time to time in
accordance with the terms hereof.
"Allocation" shall have the meaning set forth in Section
2.6(a).
"Appraiser" shall have the meaning set forth in Section
6.3(d).
"Approval of Equityholders" shall have the meaning set forth
101508
|
AmerAlia
As referenced in this Asset Purchase Agreement:
AMERALIA, – 99.1
{SEQUENCE}3
{PAGE}
EXECUTION COPY
================================================================================
ASSET PURCHASE AGREEMENT
AMONG
NATURAL SODA AALA, INC.,
AMERALIA, INC.,
WHITE RIVER NAHCOLITE
MINERALS LTD. LIABILITY CO.
AND
IMC GLOBAL INC.
DATED AS
AmerAlia. – 2.8 Deliveries by Seller and Parent..........................................................21
Section 2.9 Deliveries by Buyer and AmerAlia. ........................................................22
Section 2.10 Arrangement Regarding Outstanding Consents...............................................23
Section 2.11 Transfer Taxes...........................................................................
AMERALIA
– 27 No Other Representations or Warranties...................................................39
ARTICLE IV REPRESENTATIONS AND WARRANTIES OF BUYER AND AMERALIA
Section 4.1 Organization of Buyer and AmerAlia.......................................................39
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AmerAlia. – IV REPRESENTATIONS AND WARRANTIES OF BUYER AND AMERALIA
Section 4.1 Organization of Buyer and AmerAlia. ......................................................39
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Section 4.2 Authority
AmerAlia; – ii
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Section 4.2 Authority of Buyer and AmerAlia; Binding Effect..........................................40
Section 4.3 Non-Contravention........................................................................40
Section 4.4 Consents and
dt 27265
;
IMC Global
As referenced in this Asset Purchase Agreement:
IMC GLOBAL – AMONG
NATURAL SODA AALA, INC.,
AMERALIA, INC.,
WHITE RIVER NAHCOLITE
MINERALS LTD. LIABILITY CO.
AND
IMC GLOBAL INC.
DATED AS OF JANUARY 9, 2003
================================================================================
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TABLE OF CONTENTS
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IMC Global – and White River Nahcolite
Minerals Ltd. Liability Co., a Colorado limited liability company ("Seller") and
IMC Global Inc., a Delaware corporation and the indirect beneficial owner of all
of the outstanding equity
IMC Global – such
person:
To Seller and Parent:
White River Nahcolite Minerals Ltd. Liability Co.
c/o IMC Global Inc.
100 South Saunders Road
Suite 300
Lake Forest, IL 60045
Attention: Peter Maples
Telephone:
IMC Global – 739-1200
Telecopy: 847-739-1678
E-mail address: plmaples@imcglobal.com
with copies to:
IMC Global Inc.
100 South Saunders Road
Suite 300
Lake Forest, IL 60045
Attention: General Counsel
Telephone:
IMC GLOBAL – Chairman
WHITE RIVER NAHCOLITE MINERALS LTD.
LIABILITY CO.
By:
--------------------------------------
Name: John F. Tancredi
Title: President
IMC GLOBAL INC.
By:
--------------------------------------
Name: J. Reid Porter
Title: Executive Vice President and
Chief Financial Officer
83
dt 21779
;
 JPMorgan Chase
As referenced in this Asset Purchase Agreement:
JPMorgan Chase – of this Agreement, or that certain Credit Agreement, dated as of May 17,
2001, with JPMorgan Chase Bank, Goldman Sachs Credit Partners L.P. and various
other lenders party thereto, as amended
dt 45609
;
|
 Holland & Hart
As referenced in this Asset Purchase Agreement:
Holland & Hart – 876-2373
Telecopy: 720-876-2374
E-mail address: billhgunn@aol.com
with copies to:
Holland & Hart LLP
555 Seventeenth Street, Suite 3200
Denver, CO 80202
Attention: Jeanine Feriancek, Esq.
Telephone: 303-
dt 37336
;
Skadden
As referenced in this Asset Purchase Agreement:
Skadden, – Forest, IL 60045
Attention: General Counsel
Telephone: 847-739-1200
Telecopy: 847-739-1606
and:
Skadden, Arps, Slate, Meagher & Flom LLP
Four Times Square
New York, New York 10036
Attention:
@skadden. – F. Arcano, Esq.
Telephone: 212-735-3000
Telecopy: 212-735-2000
E-mail address: sarcano@skadden. com
78
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To Buyer and AmerAlia:
Natural Soda AALA, Inc.
c/o AmerAlia, Inc.
dt 34098
|
| Preview
Subscribers | 2003 |
Stock and Asset Purchase Agreement
Stock and Asset Purchase Agreement (292K)
Doc #101530: Click preview link for longer preview.
STOCK AND ASSET PURCHASE AGREEMENT
BY AND BETWEEN
UCB S.A.
AND
SOLUTIA INC.
Dated as of December 2, 2002
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RECITALS ..............................................................................................1
ARTICLE I THE PURCHASE AND SALE.........................................................................1
Section 1.1. Purchase and Sale of Shares............................................................1
Section 1.2. Purchase and Sale of the Purchased Assets..............................................1
Section 1.3. Excluded Assets........................................................................3
Section 1.4. Assumed Liabilities....................................................................4
Section 1.5. Excluded Liabilities...................................................................6
ARTICLE II CONSIDERATION.................................................................................7
Section 2.1. Amount and Form of Consideration.......................................................7
Section 2.2. Payment of Consideration...............................................................7
Section 2.3. Purchase Price Adjustment..............................................................7
Section 2.4. Allocation of Purchase Price...........................................................9
Section 2.5. Designation of Subsidiary by Purchaser................................................10
ARTICLE III THE CLOSING..................................................................................10
Section 3.1. Closing Date..........................................................................10
Section 3.2. Deliveries by Seller to Purchaser.....................................................10
Section 3.3. Deliveries by Purchaser to Seller.....................................................11
Section 3.4. Proceedings at Closing................................................................12
Section 3.5. Staged Closings.......................................................................12
ARTICLE IV WARRANTIES OF SELLER.........................................................................13
Section 4.1. Organization and Good Standing........................................................13
Section 4.2. Capital Structure of Purchased Companies..............................................13
Section 4.3. Subsidiaries..........................................................................13
Section 4.4. Authorization of Agreement............................................................14
Section 4.5. Conflicts; Consents of Third Parties..................................................14
Section 4.6. Financial Statements..................................................................15
Section 4.7. No Undisclosed Liabilities............................................................15
Section 4.8. Absence of Certain Developments.......................................................16
Section 4.9. Taxes.................................................................................16
Section 4.10. Real Property.........................................................................17
Section 4.11. Tangible Personal Property; Personal Property Leases..................................18
Section 4.12. Intellectual Property.................................................................18
Section 4.13. Contracts.............................................................................19
Section 4.14. Employee Benefits.....................................................................20
Section 4.15. Labor.................................................................................21
Section 4.16. Litigation............................................................................22
Section 4.17. Compliance with Other Laws; Permits...................................................22
Section 4.18. Environmental Matters.................................................................23
Section 4.19. Ownership of Necessary Assets and Rights..............................................23
Section 4.20. Customers and Suppliers...............................................................23
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Section 4.21. Products..............................................................................24
Section 4.22. Brokers...............................................................................24
Section 4.23. Disclosure............................................................................24
Section 4.24. Disclaimers of Seller.................................................................24
Section 4.25. Knowledge Regarding Warranties........................................................24
ARTICLE V WARRANTIES OF PURCHASER......................................................................25
Section 5.1. Organization and Good Standing........................................................25
Section 5.2. Authorization of Agreement............................................................25
Section 5.3. Consents of Third Parties.............................................................25
Section 5.4. Litigation............................................................................25
Section 5.5. Financing.............................................................................26
Section 5.6. Brokers...............................................................................26
Section 5.7. Knowledge Regarding Warranties........................................................26
Section 5.8. No Inducement or Reliance; Independent Assessment.....................................26
ARTICLE VI COVENANTS OF SELLER..........................................................................26
Section 6.1. Access to Documents; Opportunity to Ask Questions.....................................27
Section 6.2. Conduct of Business...................................................................27
Section 6.3. Consents and Conditions...............................................................29
Section 6.4. Public Statements.....................................................................30
Section 6.5. Non-Solicitation......................................................................31
Section 6.6. Updating of Information...............................................................31
Section 6.7. Intercompany Accounts.................................................................31
Section 6.8. Certain Liens.........................................................................32
Section 6.9. Further Actions.......................................................................32
Section 6.10. Transfer of Assets....................................................................32
Section 6.11. Additional Financial Information......................................................32
Section 6.12. Termination of Organschaft............................................................32
Section 6.13. Payment of Insurance Claims or Proceeds...............................................32
ARTICLE VII COVENANTS OF PURCHASER.......................................................................32
Section 7.1. Confidentiality.......................................................................33
Section 7.2. Public Statements.....................................................................33
Section 7.3. Consents and Conditions...............................................................33
Section 7.4. Seller's Access to Documents..........................................................34
Section 7.5. Further Actions.......................................................................34
Section 7.6. Guaranties; Letters of Credit.........................................................35
Section 7.7. Use of Seller's Name..................................................................35
Section 7.8. Bulk Sales Law........................................................................35
ARTICLE VIII CONDITIONS PRECEDENT TO PURCHASER'S OBLIGATIONS..............................................35
Section 8.1. Accuracy of Warranties................................................................36
Section 8.2. Performance of Covenants..............................................................36
Section 8.3. Antitrust Laws........................................................................36
Section 8.4. No Injunctions........................................................................36
Section 8.5. Consents..............................................................................36
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Section 8.6. Officer's Certificate.................................................................36
Section 8.7. Delivery of Documents.................................................................36
Section 8.8. Separation Agreements.................................................................36
ARTICLE IX CONDITIONS PRECEDENT TO SELLER'S OBLIGATIONS.................................................37
Section 9.1. Accuracy of Warranties................................................................37
Section 9.2. Performance of Covenants..............................................................37
Section 9.3. No Injunctions........................................................................37
Section 9.4. Officer's Certificate.................................................................37
Section 9.6. Antitrust Laws........................................................................37
Section 9.7. Separation Agreements.................................................................37
Section 9.8. Delivery of Documents.................................................................37
ARTICLE X ADDITIONAL POST-CLOSING COVENANTS............................................................37
Section 10.1. Certain Employment Matters............................................................37
Section 10.2. Separation Agreements.................................................................42
ARTICLE XI SURVIVAL, INDEMNIFICATION AND RELATED MATTERS................................................42
Section 11.1. Survival..............................................................................42
Section 11.2. Indemnification.......................................................................43
Section 11.3. Environmental Indemnification.........................................................45
Section 11.4. Procedures for Indemnification........................................................48
Section 11.5. Special Indemnification...............................................................49
ARTICLE XII NONCOMPETITION; NONSOLICITATION..............................................................50
Section 12.1. Noncompetition........................................................................50
Section 12.2. Nonsolicitation of Employees..........................................................51
Section 12.3. Remedies..............................................................................51
ARTICLE XIII TERMINATION..................................................................................52
Section 13.1. Termination...........................................................................52
Section 13.2. Procedure and Effect of Termination...................................................52
ARTICLE XIV TAX MATTERS..................................................................................52
Section 14.1. Tax Indemnification...................................................................52
Section 14.2. Preparation and Filing of Tax Returns.................................................53
Section 14.3. Refunds, Credits and Carrybacks.......................................................53
Section 14.4. Tax Contests..........................................................................54
Section 14.5. Cooperation...........................................................................55
Section 14.6. Timing Differences....................................................................55
Section 14.7. Tax Treatment of Indemnification Payments.............................................56
Section 14.8. Additional Tax Covenant...............................................................56
ARTICLE XV MISCELLANEOUS................................................................................56
Section 15.1. Certain Definitions...................................................................56
Section 15.2. Entire Agreement......................................................................68
Section 15.3. Governing Law.........................................................................68
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Section 15.4. Jurisdiction..........................................................................68
Section 15.5. Expenses..............................................................................69
Section 15.6. Table of Contents and Headings........................................................69
Section 15.7. Notices...............................................................................69
Section 15.8. Severability..........................................................................70
Section 15.9. Binding Effect; No Assignment.........................................................70
Section 15.10. Amendments............................................................................70
Section 15.11. Counterparts..........................................................................70
SCHEDULES [OMITTED]
-------------------
Schedule 1.1 -- Purchased Companies
Schedule 1.2 -- Liens on Purchased Assets
Schedule 1.2(a)(i) -- Owned Real Properties
Schedule 1.2(a)(ii) -- Leased Real Properties
Schedule 1.2(g) -- Excluded Telephone Numbers
Schedule 1.2(i) -- Licenses
Schedule 1.2(j) -- Permits Being Transferred
Schedule 1.3 -- Excluded Assets
Schedule 2.4 -- Allocation Schedule
Schedule 3.2(g) -- Resigning Officers, Directors and Auditors
Schedule 3.5 -- Subsequent Closing Jurisdictions
Schedule 9.5 -- Antitrust Consents
Schedule 10.1(a)(i) -- Business Employees
Schedule 10.1(c)(i) -- European Actuarial Assumptions
Schedule 10.1(f)(i) -- International Assignments
Schedule 10.1(f)(ii) -- Third Country National Employees
Schedule 10.1(h) -- Terms of Services Agreement
Schedule 10.2 -- Separation Agreements
Schedule 14.8(a) -- Certain Acquired Companies
Schedule 14.8(b) -- Actions With Respect to Certain Acquired Companies
Schedule 15.1(a) -- Knowledge Officers
Schedule 15.1(b) -- Material Sites
Schedule 15.1(c) -- Potential Thai Tax Claim
Seller Disclosure Schedule
EXHIBITS
--------
Exhibit A -- Description of Business
Exhibit B [omitted] -- Form of Assumption Agreement
Exhibit C [omitted] -- Indian Orchard Lease and Manufacturing
Agreement Including Manufacturing Lease Terms
Exhibit D [omitted] -- Indian Orchard Laboratory Services Agreement
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Exhibit E [omitted] -- Indian Orchard Laboratory and Office Space Lease
and Access Agreement
Exhibit F [omitted] -- DME Supply Agreement
Exhibit G [omitted] -- Adipic Acid Supply Agreement
Exhibit H [omitted] -- Services and Supply Agreement (Nitro, West Virginia)
Exhibit I [omitted] -- Toll Manufacturing Agreement (LaSalle, Quebec)
Exhibit J [omitted] -- Umbrella Transition Services Agreement
-- Services
-- Term Sheet for Maryville Lease
-- Consulting/Professional Services
Exhibit K [omitted] -- Term Sheet for Intellectual Property License Agreement
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STOCK AND ASSET PURCHASE AGREEMENT
----------------------------------
STOCK AND ASSET PURCHASE AGREEMENT, dated as of December
2, 2002 (together with the Schedules and Exhibits hereto, this "AGREEMENT"),
by and between UCB S.A., a corporation organized under the laws of Belgium
("PURCHASER"), and SOLUTIA INC., a Delaware corporation ("SELLER").
Unless otherwise indicated, capitalized terms used herein
have the respective meanings set forth in Section 15.1.
RECITALS
WHEREAS, Seller and certain of its Subsidiaries are
engaged in the business of production, manufacture and sale of resins and
additives and adhesives, as more fully described on Exhibit A and including
---------
the Acquired Companies (as defined herein) (the "BUSINESS"); and
WHEREAS, upon the terms and subject to the conditions
hereinafter set forth, the parties desire that Seller and its Subsidiaries
sell, assign and transfer to Purchaser and the Subsidiary Purchasers, and
that Purchaser and the Subsidiary Purchasers purchase and acquire from
Seller and its Subsidiaries, all of the right, title and interest of Seller
and its Subsidiaries in and to the Purchased Shares and the Purchased
Assets, and that Purchaser assume (and cause the Subsidiary Purchasers to
assume) the Assumed Liabilities.
NOW, THEREFORE, in consideration of the premises and the
mutual warranties, covenants and agreements hereinafter set forth, the
parties hereto hereby agree as follows:
ARTICLE I
THE PURCHASE AND SALE
Section 1.1. Purchase and Sale of Shares. On the terms and
---------------------------
subject to the conditions set forth herein, at the Closing, Seller shall
sell and deliver, or cause one or more of its Subsidiaries to sell and
deliver, and Seller shall cause any of its directors, officers and
employees, or those of its Subsidiaries, to sell and deliver, to Purchaser
and the Subsidiary Purchasers, and Purchaser and the Subsidiary Purchasers
shall purchase, acquire and accept from Seller, or the applicable Subsidiary
or Subsidiaries or directors, officers and employees, free and clear of all
Liens, except for Permitted Exceptions, legal and beneficial ownership of
all of the issued and outstanding capital stock and comparable ownership
interests, except as set forth on Schedule 1.1, (the "PURCHASED SHARES") of
------------
each of the companies and other entities listed on Schedule 1.1 (each, a
------------
"PURCHASED COMPANY" and, collectively, the "PURCHASED COMPANIES"; the
Purchased Companies, collectively with their Subsidiaries, being referred to
as the "ACQUIRED COMPANIES").
Section 1.2. Purchase and Sale of the Purchased Assets. On
-----------------------------------------
the terms and subject to the conditions hereof, and subject to the
exclusions set forth in Section 1.3, at the Closing, Seller shall sell,
assign, transfer, convey and deliver, or cause one or more of its
Subsidiaries to sell, assign, transfer, convey and deliver, to Purchaser and
the Subsidiary Purchasers, and Purchaser shall, and shall cause the
Subsidiary Purchasers to, purchase, acquire
101530
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Bear, Stearns
As referenced in this Stock and Asset Purchase Agreement:
Bear, Stearns & Co. – and on
the Closing Date, Purchaser will have sufficient immediately available cash
to pay the Cash Consideration.
Section 5.6. Brokers. Except for Bear, Stearns & Co. , no
-------
Person has acted directly or indirectly as a broker, finder or financial
advisor for Purchaser in connection with the negotiations relating
_____________
dt 106691
;
Citibank
As referenced in this Stock and Asset Purchase Agreement:
Citibank, N.A. – 2.3(e)
shall bear interest from the Closing Date through the date of payment at the
rate of interest publicly announced by Citibank, N.A. , in New York, New
York, from time to time as its prime rate. Any adjustments to the Cash
Consideration made pursuant to
_____________
dt 145751
;
Hercules
As referenced in this Stock and Asset Purchase Agreement:
Hercules Inc – manufacturing
agreement, dated as of August 1, 1999, by and between Solutia Canada Inc.
and Hercules Inc .
"HOECHST AGREEMENT" means the agreement dated 6th October,
1998 between Hoechst AG and Viking
dt 22344
;
|
Solutia
As referenced in this Stock and Asset Purchase Agreement:
SOLUTIA – 2
EXECUTION COPY
--------------
STOCK AND ASSET PURCHASE AGREEMENT
BY AND BETWEEN
UCB S.A.
AND
SOLUTIA INC.
Dated as of December 2, 2002
{PAGE}
{PAGE}
{TABLE}
TABLE OF CONTENTS
-----------------
{S} {C}
SOLUTIA – and between UCB S.A., a corporation organized under the laws of Belgium
("PURCHASER"), and SOLUTIA INC., a Delaware corporation ("SELLER").
Unless otherwise indicated, capitalized terms used herein
have the respective
"Solutia" – facsimile, xerography and other communications equipment and systems,
marketing and advertising material (other than all "Solutia" marked sales
and promotional materials and brochures) of every media (including
brochures, displays, building
"Solutia" – by Law,
will be made available to Purchaser upon Purchaser's reasonable request),
(ii) all "Solutia" marked sales and promotional materials and brochures and
(iii) those telephone numbers listed on
"Solutia" – and its Subsidiaries;
(f) all of Seller's right, title and interest in the name
"Solutia" or part of a trade name and the trademark or service mark
"Solutia" and
dt 22077
;
Bear, Stearns
As referenced in this Stock and Asset Purchase Agreement:
Bear, Stearns & Co. – and on
the Closing Date, Purchaser will have sufficient immediately available cash
to pay the Cash Consideration.
Section 5.6. Brokers. Except for Bear, Stearns & Co. , no
-------
Person has acted directly or indirectly as a broker, finder or financial
advisor for Purchaser in connection with the negotiations relating
_____________
dt 106691
;
More... |
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Subscribers | 2003 |
Purchase and Sale Agreement
Purchase and Sale Agreement (50K)
Doc #119852: Click preview link for longer preview.
================================================================================
PURCHASE AND SALE AGREEMENT
================================================================================
SELLER:
BHP MINERALS INTERNATIONAL INC.,
a Delaware corporation
PURCHASER:
ALTAIR NANOTECHNOLOGIES INC.,
a Canada corporation
PROPERTY:
204 Edison Way,
Reno, Nevada 89502
August 8, 2002
================================================================================
{PAGE}
LIST OF EXHIBITS
Exhibit
1.1.1 Legal Description
2.2.1 Form of Promissory Note
2.2.2 Form of Deed of Trust
3.3 Schedule of Contracts
5.2 Resolution of the Board of Directors
of Purchaser
9.2.1 Form of Lender's Policy
9.2.2 Form of Owner's Policy
9.3.1 Form of Grant Bargain and Sale Deed
9.3.2 Form of Bill of Sale
9.3.3 Form of Lease Termination Agreement
9.3.4 Form of Assignment and Assumption
of Contracts
9.3.5 Form of Assignment of Warranties
and Guarantees
9.3.6 Form of FIRPTA Affidavit
9.3.7 Form of Designation Agreement
9.3.8 Form of Royalty Termination Agreement
9.8 Form of Notice to Tenants/Contractors/
Utility Companies
1
{PAGE}
PURCHASE AND SALE AGREEMENT
This PURCHASE AND SALE AGREEMENT (this "Agreement") is effective as of
August 8, 2002 (the "Effective Date"). It is between BHP MINERALS INTERNATIONAL
INC., a Delaware corporation ("Seller"), and ALTAIR NANOTECHNOLOGIES INC., a
Canada corporation ("Purchaser").
RECITALS:
A. Seller desires to sell certain improved real property commonly known
as 204 Edison Way, Reno, Nevada, along with certain related personal and
intangible property, and Purchaser desires to purchase such real, personal and
intangible property.
B. Seller (as Lessor) and Altair International Inc., Purchaser's
predecessor in interest, (as Tenant) entered into that certain Lease of Property
Located at 204 Edison Way, Reno, Nevada, executed on or about November 16, 1999
(the "Lease"), which Lease will be terminated concurrent with the Date of
Closing, as defined in Section 2.3 below, in accordance with the terms set forth
herein.
C. Seller and Altair International Inc. also entered into that certain
Asset Purchase and Sale Agreement dated as of November 16, 1999 (the "1999
Purchase Agreement"), which, among other things, provides for the payment to
Seller by Altair of a Royalty, as defined therein, in accordance with Section
6.5 of the 1999 Purchase Agreement. All prospective obligations, liabilities and
benefits of each of Seller and Purchaser under the 1999 Purchase Agreement will
be terminated concurrent with the Date of Closing, in accordance with the terms
set forth herein.
NOW, THEREFORE, in consideration of the foregoing, of the covenants,
promises and undertakings set forth herein, and for other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged,
Seller and Purchaser agree as follows:
1. THE PROPERTY
1.1 Description
Subject to the terms and conditions of this Agreement, and for the
consideration herein set forth, Seller agrees to sell and transfer, and
Purchaser agrees to purchase and acquire, all of Seller's right, title, and
interest in and to the following (collectively, the "Property"):
(a) Certain land (the "Land") located in City of Reno, County of
Washoe, State of Nevada, and more specifically described in Exhibit 1.1.1
attached hereto;
(b) All buildings, parking areas, fixtures and other improvements of
every kind and character on the Land (the "Improvements");
(c) The wastewater system located on the Land, including without
limitation, control boxes; Harrington Tank and filter pump; sperry filter press;
3300 gallon, 100-inch non-potable water tank; associated motors; 1100 gallon
storage tank; non-potable water tank numbered 30-09.140; 3000 gallon tank; white
tank; Dayton Trivolt industrial duty three-phase TEFC; and associated piping
(collectively the "Wastewater System");
119852
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Altair
As referenced in this Purchase and Sale Agreement:
ALTAIR NANOTECHNOLOGIES – SEQUENCE}4
================================================================================
PURCHASE AND SALE AGREEMENT
================================================================================
SELLER:
BHP MINERALS INTERNATIONAL INC.,
a Delaware corporation
PURCHASER:
ALTAIR NANOTECHNOLOGIES INC.,
a Canada corporation
PROPERTY:
204 Edison Way,
Reno, Nevada 89502
August 8, 2002
================================================================================
{
ALTAIR NANOTECHNOLOGIES – the "Effective Date"). It is between BHP MINERALS INTERNATIONAL
INC., a Delaware corporation ("Seller"), and ALTAIR NANOTECHNOLOGIES INC., a
Canada corporation ("Purchaser").
RECITALS:
A. Seller desires to sell certain improved real
Altair International – Purchaser desires to purchase such real, personal and
intangible property.
B. Seller (as Lessor) and Altair International Inc., Purchaser's
predecessor in interest, (as Tenant) entered into that certain Lease of
Altair International – Section 2.3 below, in accordance with the terms set forth
herein.
C. Seller and Altair International Inc. also entered into that certain
Asset Purchase and Sale Agreement dated as of November
Altair Nanotechnologies – Attention: Peter Aitelli, Esq.
Phone: (415) 268-7085
Fax: (415) 268-7522
If to Purchaser: Altair Nanotechnologies Inc.
230 South Rock Boulevard, #21
Reno, Nevada 89502
Attention: Mr. Edward Dickinson
Phone:
dt 21397
;
Altair
As referenced in this Purchase and Sale Agreement:
ALTAIR NANOTECHNOLOGIES INC –
ALTAIR NANOTECHNOLOGIES INC
_____________
ALTAIR NANOTECHNOLOGIES INC. –
EX-10.6
4
================================================================================
PURCHASE AND SALE AGREEMENT
================================================================================
SELLER:
BHP MINERALS INTERNATIONAL INC.,
a Delaware corporation
PURCHASER:
ALTAIR NANOTECHNOLOGIES INC. ,
a Canada corporation
PROPERTY:
204 Edison Way,
Reno, Nevada 89502
August 8, 2002
================================================================================
LIST OF EXHIBITS
Exhibit
1.1.1 Legal Description
2.2.1 Form of Promissory
_____________
ALTAIR NANOTECHNOLOGIES INC. – AGREEMENT
This PURCHASE AND SALE AGREEMENT (this "Agreement") is effective as of
August 8, 2002 (the "Effective Date"). It is between BHP MINERALS INTERNATIONAL
INC., a Delaware corporation ("Seller"), and ALTAIR NANOTECHNOLOGIES INC. , a
Canada corporation ("Purchaser").
RECITALS:
A. Seller desires to sell certain improved real property commonly known
as 204 Edison Way, Reno, Nevada, along with certain related personal and
intangible
_____________
Altair Nanotechnologies Inc. – 8507
And a copy to: Morrison & Foerster LLP
425 Market Street
San Francisco, California 94105
Attention: Peter Aitelli, Esq.
Phone: (415) 268-7085
Fax: (415) 268-7522
If to Purchaser: Altair Nanotechnologies Inc.
230 South Rock Boulevard, #21
Reno, Nevada 89502
Attention: Mr. Edward Dickinson
Phone: 702-857-1966
Fax: 702-857-1920
With a copy to: Altair Nanotechnologies Inc.
1725 Sheridan
_____________
Altair Nanotechnologies Inc. – If to Purchaser: Altair Nanotechnologies Inc.
230 South Rock Boulevard, #21
Reno, Nevada 89502
Attention: Mr. Edward Dickinson
Phone: 702-857-1966
Fax: 702-857-1920
With a copy to: Altair Nanotechnologies Inc.
1725 Sheridan Avenue, Suite 140
Cody, Wyoming 82414
Attention: Dr. William P. Long
Phone: 888-4-258247
Fax: 307-587-8357
If to Title Company's First American Title
_____________
dt 1849503
;
|
BHP Billiton
As referenced in this Purchase and Sale Agreement:
BHP Billiton
– at their
respective addresses referenced below:
If to Seller: BHP Minerals International Inc.
c/o BHP Billiton
1360 Post Oak Blvd., Suite 150
Houston, Texas 77056-3020
Attention: Legal Department
Phone: (
dt 30794
;
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Subscribers | 2002 |
Asset Purchase Agreement
Asset Purchase Agreement (190K)
Doc #124779: Click preview link for longer preview.
ASSET PURCHASE AGREEMENT
by and among
Energetic Systems Inc., LLC,
UTeC Corporation, LLC
SEC Investment Corp. LLC
DetaCorp Inc., LLC
Energetic Properties, LLC
Slurry Explosive Corporation
Universal Tech Corporation
El Dorado Chemical Company
LSB Chemical Corp.
LSB Industries, Inc.
and
Slurry Explosive Manufacturing Corporation, LLC
December 6, 2002
ASSET PURCHASE AGREEMENT
This Asset Purchase Agreement ("Agreement") is dated December 6, 2002 by and among (a) Energetic Systems Inc., LLC, a Nevada limited liability company ("ESI"), UTeC Corporation, LLC, a Nevada limited liability company ("UTEC"), SEC Investment Corp. LLC, a Nevada limited liability company ("SIC"), DetaCorp Inc., LLC, a Nevada limited liability company ("DetaCorp"), Energetic Properties, LLC, a Nevada limited liability company ("EP," and collectively with DetaCorp, UTEC and SIC, "Buyers"), (b) Slurry Explosive Corporation, an Oklahoma corporation ("SEC"), Universal Tech Corporation, an Oklahoma corporation ("Universal," and collectively with SEC, "Sellers" and each individually, "Seller"), El Dorado Chemical Company, an Oklahoma corporation ("EDC"), LSB Chemical Corp., an Oklahoma corporation ("LSBCC," and together with EDC, the "Shareholders"), and LSB Industries, Inc., a Delaware corporation ("LSB"), and (c) Slurry Explosive Manufacturing Corporation, LLC, a Nevada limited liability company ("SEMC").
RECITALS
SEC is a wholly-owned subsidiary of EDC, Universal is a wholly-owned subsidiary of LSBCC, and EDC and LSBCC are wholly-owned subsidiaries of LSB.
UTeC, SIC, DetaCorp and EP are wholly-owned subsidiaries of ESI.
SEC and DetaCorp are the joint owners of SEMC.
Sellers desires to sell, and Buyers desires to purchase, the Assets of Sellers for the consideration and on the terms set forth in this Agreement and SEC and DetaCorp desire to jointly own SEMC.
AGREEMENT
For good and valuable consideration the receipt and sufficiency of which is hereby acknowledged, the parties, intending to be legally bound, agree as follows:
1. DEFINITIONS AND USAGE
1.1 DEFINITIONS
For purposes of this Agreement, the following terms and variations thereof have the meanings specified or referred to in this Section 1.1:
"Accounts Receivable" - (a) all trade accounts receivable and other rights to payment from customers of Sellers and the full benefit of all security for such accounts or rights to payment, including all trade accounts receivable representing amounts receivable in respect of goods shipped
1
or products sold or services rendered to customers of Sellers, and (b) any claim, remedy or other right related to any of the foregoing.
"Accounts Receivable Adjustment Amount" - as defined in Section 2.9.
"Active Employee" - as defined in Section 10.1(a).
"AN Supply Agreement" - as defined in Section 7.7.
"Appurtenances" - all privileges, rights, easements, hereditaments, and appurtenances belonging to or for the benefit of the Land and Improvements, including water and wastewater rights, development rights, mineral rights and royalty interests, and all easements, streets, alleys, passages and other rights-of-way included thereon or adjacent thereto (before or after vacation thereof) and vaults beneath any such streets.
"Assets" - as defined in Section 2.1.
"Assignment and Assumption Agreement" - as defined in Section 2.7(a)(ii).
"Assignment and Assumption of Lease Agreement" - as defined in Section 7.7(b).
"Assumed Liabilities" - as defined in Section 2.4(a).
"ATF" - the U.S. Bureau of Alcohol, Tobacco and Firearms.
"Balance Sheet" - as defined in Section 3.3.
"Best Efforts" - the efforts that a prudent Person desirous of achieving a result would use in similar circumstances to achieve that result as expeditiously as reasonably possible, provided, however, that a Person required to use Best Efforts under this Agreement will not be thereby required to take actions that would result in a material adverse change in the benefits to such Person of this Agreement and the Contemplated Transactions, or to dispose of or make any change to its business, expend any material funds or incur any other material burden.
"Bill of Sale" - as defined in Section 2.7(a)(i).
"Breach" - any breach of, or any inaccuracy in, any representation or warranty or any material breach of, or material failure to perform or comply with, any covenant or obligation, in or of this Agreement or any other Contract, or any event which with the passing of time or the giving of notice, or both, would constitute such a breach, inaccuracy or failure.
"Bulk Sales Laws" - as defined in Section 5.10.
"Business Day" - any day other than (i) Saturday or Sunday or (ii) any other day on which banks in Oklahoma City, Oklahoma are permitted or required to be closed.
2
"Buyers" - as defined in the first paragraph of this Agreement.
"Buyer Indemnified Persons" - as defined in Section 11.2.
"Closing" - as defined in Section 2.6.
"Closing Date" - the date on which the Closing actually takes place.
"Closing Financial Statements" - as defined in Section 3.3.
"COBRA" - as defined in Section 3.15(d).
"Code" - the Internal Revenue Code of 1986.
"Consent" - any approval, consent, ratification, waiver, or other authorization.
"Contemplated Transactions" - all of the transactions contemplated by this Agreement.
"Contract" - any agreement, contract, Lease, consensual obligation, promise, or undertaking (whether written or oral and whether express or implied), whether or not legally binding.
"Copyrights" - as defined in Section 3.24(a)(iii).
"Damages" - as defined in Section 11.2.
"DetaCorp" - as defined in the first paragraph of this Agreement.
"Disclosure Letter" - the disclosure letter delivered by Sellers to Buyers concurrently with the execution and delivery of this Agreement, as the same may be amended pursuant to Section 5.5 hereof.
"EDC" - as defined in the first paragraph of this Agreement.
"Effective Time" - 12:01 a.m. on December 1, 2002.
"Employee Plans" - as defined in Section 3.15(a).
"Encumbrance" - any lien, option, pledge, security interest, mortgage, right of way, easement, encroachment, right of first option, right of first refusal or other similar restriction.
"Environment" - soil, land surface or subsurface strata, surface waters (including navigable waters and ocean waters), groundwaters, drinking water supply, stream sediments, ambient air (including indoor air), plant and animal life, and any other environmental medium or natural resource.
"Environmental, Health and Safety Liabilities" - any cost, damages, expense, liability,
124779
|
LSB Industries
As referenced in this Asset Purchase Agreement:
LSB Industries, – Properties, LLC
Slurry Explosive Corporation
Universal Tech Corporation
El Dorado Chemical Company
LSB Chemical Corp.
LSB Industries, Inc.
and
Slurry Explosive Manufacturing Corporation, LLC
December 6, 2002
ASSET PURCHASE AGREEMENT
This
LSB Industries, – EDC"), LSB Chemical Corp., an Oklahoma corporation ("LSBCC," and together with EDC, the "Shareholders"), and LSB Industries, Inc., a Delaware corporation ("LSB"), and (c) Slurry Explosive Manufacturing Corporation, LLC, a Nevada
LSB Industries, – as a party may designate by notice to the other parties):
Sellers, Shareholders and LSB:
LSB Industries, Inc.
Attention: David Shear
Address: 16 S. Pennsylvania, Oklahoma City, Oklahoma 73106
Fax no.: (
LSB Industries, – 405) 947-0768
E-mail address: davidtaylor.wimase@shaw.ca"
with a mandatory copy to:
LSB Industries, Inc.
Attention: David Shear
Address: 16 S. Pennsylvania, Oklahoma City, Oklahoma 73106
Fax no.: (
LSB Industries, – Shelby
David Taylor, Manager Tony M. Shelby, Vice President
ESI: LSB:
Energetic Systems, Inc., LLC LSB Industries, Inc.
By: /s/ David Taylor By: /s/ Tony M. Shelby
David Taylor, Manager Tony
dt 21795
;
U.S. Bancorp
As referenced in this Asset Purchase Agreement:
"US Bancorp – Section 2.7(a)(xi).
"Universal" - as defined in the first paragraph of this Agreement.
"Unusable Inventory" - as defined in Section 2.8.
"Update" - as defined in Section 5.5.
"US Bancorp Lease" - that certain master lease agreement entered into by and between SEC and U.S. Bancorp Leasing and Financial as of April 11, 2001.
"Use and License Agreement" - as
_____________
U.S. Bancorp – Unusable Inventory" - as defined in Section 2.8.
"Update" - as defined in Section 5.5.
"US Bancorp Lease" - that certain master lease agreement entered into by and between SEC and U.S. Bancorp Leasing and Financial as of April 11, 2001.
"Use and License Agreement" - as defined in Section 2.7(a)(xii).
"UTEC" - as defined in the first paragraph of this Agreement.
"
_____________
US Bancorp – Closing the Purchase Price shall be delivered by Buyers to Sellers as follows: (a) the assumption by SEMC of the actual amount of the unpaid balance of obligations under the US Bancorp Lease as of the Closing Date of $425,000, by the execution and delivery of the Assignment and Assumption of Lease Agreement; (b) a payment by wire transfer to
_____________
US Bancorp – as of the Effective Time, Buyers and SEMC shall assume and agree to discharge only the following Liabilities of Sellers (the "Assumed Liabilities"):
(i) any Liability with respect to the US Bancorp Lease; and
(ii) any Liability with respect to the leases listed on Part 3.7 and the Seller Contracts listed on Part 3.19(a).
Exhibit 2.4(a)
_____________
US Bancorp – a).
Exhibit 2.4(a) describes the allocation of responsibility of the Assumed Liabilities as among the Buyers and SEMC; provided, that ESI guaranties the Liability with respect to the US Bancorp Lease as well as all other Assumed Liabilities. In the event SEC and LSB are not released by U.S. Bancorp Leasing and Financial in connection with the assumption
_____________
dt 1442256
;
|
Jackson Walker
As referenced in this Asset Purchase Agreement:
Jackson Walker – sale provided for in this Agreement (the "Closing") will take place at the offices of Jackson Walker L.L.P., 2435 N. Central Expressway, Suite 600, Richardson, Texas, commencing at 10:
Jackson Walker – to be delivered (or tendered subject only to Closing) to Sellers:
(a) an opinion of Jackson Walker L.L.P., dated the Closing Date, in the form of Exhibit 8.4;
(
Jackson Walker – 405) 947-0768
E-mail address: davidtaylor.wimase@shaw.ca"
with a mandatory copy to:
Jackson Walker L.L.P.
Attention: Lawrence A. Waks
Address: 100 Congress Avenue, Suite 1100, Austin,
dt 37480
;
Energetic Systems Inc., LLC
|
| Preview
Subscribers | 2003 |
Asset Sale Agreement
Asset Sale Agreement (158K)
Doc #130883: Click preview link for longer preview.
ASSET SALE AGREEMENT
THIS ASSET SALE AGREEMENT is made as of this 18th day of July, 2003 (the Effective Date) by and between
(1) GLAXO WELLCOME, S.A., a corporation organized under the laws of Spain, whose registered office is at Poligono Industrial Allendeduero, Avenida de Estrmadura, 3, Aranda de Duero, Burgos, Spain (GSK),
and
(2) DIVERSA CORPORATION, a corporation organized under the laws of the state of Delaware with its principal offices at 4955 Directors Place, San Diego, CA 92121 (DIVERSA).
BACKGROUND
A. WHEREAS, GSK has rights in the Assigned Program Intellectual Property and has certain physical amounts of the Antifungal Compounds and Other Materials (each as hereinafter defined); and
B. WHEREAS, DIVERSA desires to purchase and GSK desires to sell to DIVERSA all of GSKs right, title and interest in and to the Assigned Program Intellectual Property and the Antifungal Compounds and Other Materials, subject to GSKs rights to retain certain physical amounts of the Antifungal Compounds and Other Materials, on the terms and conditions stated in this Agreement.
NOW, THEREFORE, in consideration of the promises and the mutual covenants, agreements and representations herein contained and intending to be legally bound, GSK and DIVERSA agree as follows:
SECTION 1
DEFINITIONS AND INTERPRETATION
|