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Asset Purchase Agreement
Asset Purchase Agreement (226K)
Doc #101591: Click preview link for longer preview.
{DOCUMENT}
{TYPE}EX-2
{SEQUENCE}3
EXHIBIT 2(a)
{PAGE}
ASSET PURCHASE AGREEMENT
DATED AS OF DECEMBER 20, 2002
BY AND AMONG
WELLS FARGO FINANCIAL LEASING, INC.
AGWAY INC.
TELMARK, LLC
TELMARK LEASE FUNDING II, LLC
TELMARK LEASE FUNDING III, LLC
AND
TELEASE FINANCIAL SERVICES, LTD.
{PAGE}
THIS ASSET PURCHASE AGREEMENT (this "AGREEMENT") is made and entered
into as of the 20th day of December, 2002, by and among WELLS FARGO FINANCIAL
LEASING, INC., an Iowa corporation ("BUYER"); TELMARK, LLC, a Delaware limited
liability company ("TELMARK"); the following wholly owned subsidiaries of
Telmark: TELMARK LEASE FUNDING II, LLC, a Delaware limited liability company,
TELMARK LEASE FUNDING III, LLC, a Delaware limited liability company, and
TELEASE FINANCIAL SERVICES, LTD., an Ontario corporation (collectively, the
"SUBSIDIARIES" and, together with Telmark, collectively referred to herein as
"SELLER"); and Agway Inc., a Delaware corporation and the owner of all the
issued and outstanding limited liability interests (within the meaning of
Section 18-701 of the Delaware Limited Liability Company Act, as amended) of
Telmark ("AGWAY"). Buyer, Agway and Seller may be referred to herein as the
"PARTIES."
WHEREAS, Seller is engaged in the business of providing customized
lease financing for equipment, buildings and vehicles for agricultural and
commercial use (the "BUSINESS"); and
WHEREAS, Seller desires to sell and assign to Buyer, and Buyer desires
to purchase and assume from Seller both directly and through certain Affiliates,
on the terms and subject to the conditions set forth in this Agreement,
substantially all of the assets and certain liabilities of Seller in connection
with the Business;
NOW, THEREFORE, in exchange for the mutual promises and agreements
hereinafter set forth, and in consideration of the representations, warranties
and covenants contained herein, and intending to be legally bound hereby, the
Parties hereby covenant and agree as follows:
SECTION 1. DEFINITIONS. The following terms used in this Agreement have
-----------
the meanings set forth below:
"ACCOUNTING FIRM" has the meaning set forth in Section 2(f) below.
"ACQUIRED ASSETS" means all assets (for clarity, specifically including
the contra asset account known as allowance for losses) of Seller set forth on
the Final Closing Statement of Assets and Liabilities and specifically
including, without limitation, all Leases (and rights thereunder), all Leased
Property and all miscellaneous rights and assets of the Business, whether or not
recorded on the Final Closing Statement of Assets and Liabilities (including,
without limitation, any and all Intellectual Property Rights, Domain Names,
Lease Documents, Third Party Contracts, lockboxes, certificates of title,
mortgages, commodity assignments, Uniform Commercial Code filings, rights in
101591
|
 Goldman, Sachs
As referenced in this Asset Purchase Agreement:
Goldman Sachs – Schedule 3(a)(iii).
(iv) Brokers. No broker, investment banker or other person
-------
(other than Goldman Sachs & Co., the fees and expenses of which will be
paid by Seller) is entitled
dt 44859
;
 Faegre & Benson
As referenced in this Asset Purchase Agreement:
FAEGRE & BENSON – President
----------------------------------
[EXECUTION PAGE OF ADDENDUM TO ASSET PURCHASE AGREEMENT]
{PAGE}
EXHIBIT 2(e)
{PAGE}
COPY FAEGRE & BENSON LLP COPY
--------------------------------------------------------------------------------
2200 WELLS FARGO CENTER, 90 SOUTH SEVENTH STREET
MINNEAPOLIS, MINNESOTA 55402-3901
TELEPHONE
Faegre & Benson – York 10017-6234, counsel for the official unsecured
creditors' committee, (iv) Dennis M. Ryan, Esq., Faegre & Benson LLP, 2200 Wells
Fargo Center, 90 South Seventh Street, Minneapolis, Minnesota 55402-3901,
counsel for
dt 35897
;
Harris Beach
As referenced in this Asset Purchase Agreement:
Harris Beach – for CitiCapital Commercial
Corporation f/k/a Associates Commercial Corporation, (vii) David L. Rasmussen,
Esq., Harris Beach LLP, 99 Garnsey Road, Pittsford, NY 14534, counsel for Zurich
North America, (viii) Roger
dt 37166
;
|
Paul Hastings
As referenced in this Asset Purchase Agreement:
Paul, Hastings – and Judy G. Z.
Liu, Esq.), (ii) the attorneys for the prepetition and
postpetition lenders, Paul, Hastings , Janofsky & Walker
LLP, 1055 Washington Boulevard, Stamford, Connecticut
06901 (Attn: Leslie A. Plaskon, Esq.
dt 32833
;
Sutherland
As referenced in this Asset Purchase Agreement:
Sutherland Asbill – by this
-----------
Agreement (the "CLOSING") shall take place at the offices of Seller's counsel,
Sutherland Asbill & Brennan LLP, 1275 Pennsylvania Avenue, N.W., Washington,
D.C., commencing at 9:00
Sutherland Asbill – in the Purchase and Sale Agreement, the Closing
shall take place at the offices of Sutherland Asbill &
Brennan LLP, 1275 Pennsylvania Avenue, N.W.,
Washington, D.C., at 9:00 a.
dt 31569
;
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Asset Purchase Agreement
Asset Purchase Agreement (1,026K)
Doc #101705: Click preview link for longer preview.
{DOCUMENT}
{TYPE}EX-2.1
{SEQUENCE}3
{PAGE}
EXHIBIT 2.1
CONFIDENTIAL
ASSET PURCHASE AGREEMENT
BY AND BETWEEN
UNITED STATES FILTER CORPORATION,
U.S. FILTER DISTRIBUTION GROUP, INC.
AND
BLUE ACQUISITION CORP.
dated
SEPTEMBER 12, 2002
{PAGE}
TABLE OF CONTENTS
{TABLE}
{CAPTION}
Page
----
{S} {C}
ARTICLE I DEFINITIONS; CONSTRUCTION ................................. 1
1.1 Definitions .............................................. 1
1.2 Construction ............................................. 9
ARTICLE II THE TRANSACTION .......................................... lO
2.1 Sale and Purchase of Assets .............................. lO
2.2 Retained Assets .......................................... l0
2.3 Assumption of Obligations ................................ 11
2.4 Retained Obligations ..................................... 12
2.5 Purchase Price ........................................... 13
2.6 Closing .................................................. 13
2.7 Payment .................................................. 14
2.8 Purchase Price Adjustment ................................ 14
2.9 Procedures for Calculating and Paying the Purchase Price
Adjustment ............................................... 14
2.10 Allocation of Purchase Price ............................. 16
ARTICLE III REPRESENTATIONS AND WARRANTIES OF DISTRIBUTION .......... 16
3.1 Organization and Authority ............................... 16
3.2 Authorization; Enforceability ............................ 17
3.3 Title to Purchased Assets ................................ 17
3.4 No Violation of Laws or Agreements; Consents ............. 17
3.5 Financial Statements ..................................... 18
3.6 No Changes ............................................... 18
3.7 Taxes .................................................... 19
3.8 Rights in Assets ......................................... 21
3.9 No Pending Litigation .................................... 21
3.10 Compliance With Law; Permits ............................. 22
3.11 Labor Matters ............................................ 22
3.12 Intellectual Property Rights ............................. 22
3.13 Employees; Employee Related Agreements and Plans; ERISA .. 24
3.14 Environmental Matters .................................... 27
3.15 Intentionally Omitted .................................... 28
3.16 Material Contracts ....................................... 28
3.17 Intentionally Omitted .................................... 28
3.18 Insurance ................................................ 28
3.19 Absence of Undisclosed Liabilities ....................... 29
3.20 Disclaimer of Warranties ................................. 29
ARTICLE IV REPRESENTATIONS AND WARRANTIES OF USF .................... 29
4.1 Organization and Authority ............................... 29
4.2 Authorization; Enforceability ............................ 29
4.3 No Violation of Laws or Agreements; Consents ............. 30
{/TABLE}
i
{PAGE}
{TABLE}
{S} {C}
4.4 Brokers, Finders, Etc. ................................... 30
4.5 Disclaimer of Warranties ................................. 30
ARTICLE V REPRESENTATIONS AND WARRANTIES OF BUYER ................... 31
5.1 Organization ............................................. 31
5.2 Authorization; Enforceability ............................ 31
5.3 No Violation of Laws; Consents; Creditors ................ 31
5.4 No Pending Litigation or Proceedings ..................... 31
5.5 Brokers, Finders, Etc .................................... 32
5.6 Financial Ability ........................................ 32
ARTICLE VI ACTIONS PRIOR TO CLOSING DATE ............................ 32
6.1 Access to Information .................................... 32
6.2 Notifications ............................................ 33
6.3 Consents of Third Parties ................................ 33
6.4 Filings Under the HSR Act ................................ 33
6.5 Operations Prior to Closing Date ......................... 34
6.6 Negotiations ............................................. 35
6.7 Guaranty and Surety Obligations .......................... 35
6.8 Termination of Receivables Purchase Facility ............. 36
6.9 Financial and Banking Information ........................ 36
6.10 Financing ................................................ 36
101705
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Badger Meter
As referenced in this Asset Purchase Agreement:
Badger Meter, Inc. – IN EXCESS OF $500,000
{TABLE}
OTHER PARTY AGREEMENT DATE
{S} {C} {C}
Neenah Foundry Company Consignment Agreement November 22, 2000
North American Pipe Corporation Distributor Agreement May 11, 2001
Badger Meter, Inc. Distributor Resale Supply Agreement May 18, 1998
Invensys Metering Systems Distributorship Agreements Various
Mueller Co. Distribution Agreements Various
{/TABLE}
(D) CONTRACTS FOR THE SALE OF GOODS AND/OR SERVICES
_____________
dt 1323142
;
Badger Meter
As referenced in this Asset Purchase Agreement:
Badger Meter, Inc. – IN EXCESS OF $500,000
{TABLE}
OTHER PARTY AGREEMENT DATE
{S} {C} {C}
Neenah Foundry Company Consignment Agreement November 22, 2000
North American Pipe Corporation Distributor Agreement May 11, 2001
Badger Meter, Inc. Distributor Resale Supply Agreement May 18, 1998
Invensys Metering Systems Distributorship Agreements Various
Mueller Co. Distribution Agreements Various
{/TABLE}
(D) CONTRACTS FOR THE SALE OF GOODS AND/OR SERVICES
_____________
dt 1456210
;
TOTAL
As referenced in this Asset Purchase Agreement:
TOTAL
------- -------- -------
{S – income from continuing operations for
the years ended December 31, 2001 and 2000 and for the nine months ended
December 31, 1999 consists of (in thousands):
{Table}
{Caption}
CURRENT DEFERRED TOTAL
------- -------- -------
{S } {C} {C} {C}
Year ended December 31, 2001:
U.S. Federal $26,146 1,605 27,751
State and local 3,932 241 4,173
------- -------- -------
$30,078 1,846
_____________
TOTAL
------------------------------------------------------------------------------------------------------------------------------------
{S – INSURANCE CLAIM: AIG GENERAL LIABILITY
{PAGE}
General Liability - AIG - Distribution Group
{Table}
{Caption}
------------------------------------------------------------------------------------------------------------------------------------
INCURRED RESERVES
CLAIMANT NAME BRANCH CASE# SYMBOL LOSS DATE STATUS LOSS TYPE ACCIDENT DESC. TOTAL PAID TOTAL TOTAL
------------------------------------------------------------------------------------------------------------------------------------
{S } {C} {C} {C} {C} {C} {C} {C} {C} {C} {C}
CITY OF BRAWLEY 253 55015 1 03/19/1997 Closed PRODUCT CMLT ALLEGES 11,870.42 11,870.42
_____________
TOTAL
-----------------------------------------------------------------------------------------------------------------------------------
{S – 02 PAGE 1 OF 2
{PAGE}
{Table}
{Caption}
General Liability - AIG - Distribution Group
-----------------------------------------------------------------------------------------------------------------------------------
CLAIMANT CASE LOSS LOSS INCURRED PAID RESERVES
NAME BRANCH # SYMBOL DATE STATUS TYPE ACCIDENT DESC. TOTAL TOTAL TOTAL
-----------------------------------------------------------------------------------------------------------------------------------
{S } {C} {C} {C} {C} {C} {C} {C} {C} {C} {C}
BARKER WANDA 253 70802 1 12/29/1999 Closed LIABILITY WRONGFUL DEATH AND 9,418.04 9,418.04
_____________
TOTAL
{S – INSURANCE CLAIMS: AIG AUTOMOBILE
{PAGE}
Auto Liability - AIG - Distribution Group
{Table}
{Caption}
SYM- LOSS LOSS INCURRED PAID RESERVES
CLAIMANT NAME BRANCH CASE # BOL DATE STATUS TYPE ACCIDENT DESC. TOTAL TOTAL TOTAL
{S } {C} {C} {C} {C} {C} {C} {C} {C} {C} {C}
HERTZ RENT-A-CAR 254 21919 2 01/25/1996 Closed AUTOCOLL INSURED DRIVER SLID INTO 912.42 1,
_____________
Total
-----------------------------------------------------------------------------------------------------------------------------------
{S – 02 Page 1 of 38
{PAGE}
Auto Liability - AIG - Distribution Group
{Table}
{Caption}
-----------------------------------------------------------------------------------------------------------------------------------
Case Loss Loss Accident Incurred Paid Reserves
Claimant Name Branch # Symbol Date Status Type Desc. Total Total Total
-----------------------------------------------------------------------------------------------------------------------------------
{S } {C} {C} {C} {C} {C} {C} {C} {C} {C} {C}
UNITED STATES
FILTER CORP 255 43294 1 02/05/1997 Closed AUTOCOMP ELECTRICAL SHORT IN 11,735.28 13,
_____________
dt 1394260
;
|
Vivendi Universal
As referenced in this Asset Purchase Agreement:
Vivendi Universal – as disclosed on Schedule 3.13(b), the
Vivendi Employee Benefit Plans are the only plans maintained by Vivendi
Environment S.A. or Vivendi Universal S.A. which benefit employees of
Distribution and none of such plans is subject to ERISA. Except for payroll tax
obligations which may
_____________
Vivendi Universal – United States Filter Corporation Management Deferred Compensation Plan
VIVENDI EMPLOYEE BENEFIT PLANS
- Vivendi 10 Stock Option Grant Program
- Vivendi Pegasus Share Incentive Plan
- Vivendi Universal Employee Stock Option Plan May 1999
- Vivendi Universal Employee Stock Option Plan May 2000
- Vivendi Environnement Employee Stock Option Plan February 2001
Page
_____________
Vivendi Universal – VIVENDI EMPLOYEE BENEFIT PLANS
- Vivendi 10 Stock Option Grant Program
- Vivendi Pegasus Share Incentive Plan
- Vivendi Universal Employee Stock Option Plan May 1999
- Vivendi Universal Employee Stock Option Plan May 2000
- Vivendi Environnement Employee Stock Option Plan February 2001
Page 42
{PAGE}
SCHEDULE 3.13(b)
STATUS OF
_____________
dt 277890
;
Vivendi Universal
As referenced in this Asset Purchase Agreement:
Vivendi Universal – as disclosed on Schedule 3.13(b), the
Vivendi Employee Benefit Plans are the only plans maintained by Vivendi
Environment S.A. or Vivendi Universal S.A. which benefit employees of
Distribution and none of such plans is subject to ERISA. Except for payroll tax
obligations which may
_____________
Vivendi Universal – United States Filter Corporation Management Deferred Compensation Plan
VIVENDI EMPLOYEE BENEFIT PLANS
- Vivendi 10 Stock Option Grant Program
- Vivendi Pegasus Share Incentive Plan
- Vivendi Universal Employee Stock Option Plan May 1999
- Vivendi Universal Employee Stock Option Plan May 2000
- Vivendi Environnement Employee Stock Option Plan February 2001
Page
_____________
Vivendi Universal – VIVENDI EMPLOYEE BENEFIT PLANS
- Vivendi 10 Stock Option Grant Program
- Vivendi Pegasus Share Incentive Plan
- Vivendi Universal Employee Stock Option Plan May 1999
- Vivendi Universal Employee Stock Option Plan May 2000
- Vivendi Environnement Employee Stock Option Plan February 2001
Page 42
{PAGE}
SCHEDULE 3.13(b)
STATUS OF
_____________
dt 277890
;
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Preferred Stock Purchase Agreement
Preferred Stock Purchase Agreement (137K)
Doc #113102: Click preview link for longer preview.
SERIES A CONVERTIBLE PREFERRED STOCK PURCHASE
AGREEMENT
DATED AS OF NOVEMBER 29, 2001
AMONG
A.B. WATLEY GROUP INC.
AND
THE PURCHASERS LISTED ON EXHIBIT A
{PAGE}
TABLE OF CONTENTS
-----------------
{TABLE}
{CAPTION}
{S} {C} {C} {C}
Page
ARTICLE I Purchase and Sale of Preferred
Stock............................................................................................................1
Section 1.1 Purchase and Sale of Stock............................................................1
Section 1.2 The Conversion Shares.................................................................1
Section 1.3 Purchase Price and Closing............................................................1
Section 1.4 Exchange of Series A Preferred Stock..................................................2
Section 1.5 Warrants..............................................................................2
ARTICLE II Representations and Warranties........................................................................2
Section 2.1 Representations and Warranties of the Company.........................................2
Section 2.2 Representations and Warranties of the Purchasers.....................................12
ARTICLE III Covenants 14
Section 3.1 Securities Compliance................................................................14
Section 3.2 Registration and Listing.............................................................15
Section 3.3 Inspection Rights....................................................................15
Section 3.4 Compliance with Laws.................................................................15
Section 3.5 Keeping of Records and Books of Account..............................................15
Section 3.6 Reporting Requirements...............................................................15
Section 3.7 Amendments...........................................................................16
Section 3.8 Other Agreements.....................................................................16
Section 3.9 Distributions........................................................................16
Section 3.10 Status of Dividends..................................................................16
Section 3.11 Intentionally Omitted................................................................17
Section 3.12 Future Financings; Right of First Offer and Refusal..................................17
Section 3.13 Reservation of Shares................................................................19
Section 3.14 Transfer Agent Instructions..........................................................19
ARTICLE IV Conditions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . .20
Section 4.1 Conditions Precedent to the Obligation of the Company to Sell the Shares.............20
Section 4.2 Conditions Precedent to the Obligation of the Purchasers to Purchase the Shares......20
ARTICLE V Intentionally Omitted.................................................................................22
ARTICLE VI Stock Certificate Legend.............................................................................22
Section 6.1 Legend...............................................................................22
{/TABLE}
-i-
{PAGE}
{TABLE}
{CAPTION}
{S} {C} {C} {C}
ARTICLE VII Intentionally Omitted...............................................................................23
ARTICLE VIII Indemnification....................................................................................23
Section 8.1 General Indemnity....................................................................23
Section 8.2 Indemnification Procedure............................................................24
ARTICLE IX Miscellaneous....................................................................................... 25
Section 9.1 Fees and Expenses....................................................................25
Section 9.2 Specific Enforcement, Consent to Jurisdiction........................................25
Section 9.3 Entire Agreement; Amendment..........................................................26
Section 9.4 Notices..............................................................................26
Section 9.5 Waivers..............................................................................27
Section 9.6 Headings.............................................................................27
Section 9.7 Successors and Assigns...............................................................27
Section 9.8 No Third Party Beneficiaries.........................................................27
Section 9.9 Governing Law........................................................................27
Section 9.10 Survival.............................................................................27
Section 9.11 Counterparts.........................................................................28
Section 9.12 Publicity............................................................................28
Section 9.13 Severability.........................................................................28
Section 9.14 Further Assurances...................................................................28
{/TABLE}
-ii-
{PAGE}
SERIES A CONVERTIBLE PREFERRED STOCK PURCHASE AGREEMENT
This SERIES A CONVERTIBLE PREFERRED STOCK PURCHASE AGREEMENT (the
"Agreement") is dated as of November 29, 2001 by and among A.B. Watley Group
Inc., a Delaware corporation (the "Company"), and each of the Purchasers of
shares of Series A Convertible Preferred Stock of the Company whose names are
set forth on Exhibit A hereto (individually, a "Purchaser" and collectively, the
"Purchasers").
The parties hereto agree as follows:
ARTICLE I
PURCHASE AND SALE OF PREFERRED STOCK
Section 1.1 PURCHASE AND SALE OF STOCK. Upon the following terms and
conditions, the Company shall issue and sell to the Purchasers and each of the
Purchasers shall purchase from the Company, the number of shares of the
Company`s Series A Convertible Preferred Stock, par value $.01 per share (the
"Preferred Shares"), at a purchase price of $10,000 per share, set forth with
respect to such Purchaser on Exhibit A hereto. Upon the following terms and
conditions, the Purchasers shall be issued Series A Warrants, in substantially
the form attached hereto as Exhibit B (the "Warrants"), to purchase the
Company`s Common Stock, par value $.001 per share (the "Common Stock"). The
aggregate purchase price for the Preferred Shares and the Warrants shall be
$6,300,000. A portion of the aggregate purchase price shall be paid with that
certain senior subordinated demand promissory note issued by the Company in
connection with the Note and Warrant Purchase Agreement dated August 30, 2001
(the "August Note"), in the amount set forth next to such Purchaser`s name on
SCHEDULE 1.1 attached hereto. The designation, rights, preferences and other
terms and provisions of the Series A Convertible Preferred Stock are set forth
in the Certificate of Designation of the Relative Rights and Preferences of the
Series A Convertible Preferred Stock attached hereto as Exhibit C (the
"Certificate of Designation"). The Company and the Purchasers are executing and
delivering this Agreement in accordance with and in reliance upon the exemption
from securities registration afforded by Rule 506 of Regulation D ("Regulation
D") as promulgated by the United States Securities and Exchange Commission (the
"Commission") under the Securities Act of 1933, as amended (the "Securities
Act") or Section 4(2) of the Securities Act.
Section 1.2 THE CONVERSION SHARES. The Company has authorized and has
reserved and covenants to continue to reserve, free of preemptive rights and
other similar contractual rights of stockholders, a sufficient number of its
authorized but unissued shares of its Common Stock, to effect the conversion of
the Preferred Shares and exercise of the Warrants. Any shares of Common Stock
issuable upon conversion of the Preferred Shares and exercise of the Warrants
(and such shares when issued) are herein referred to as the "Conversion Shares"
and the "Warrant Shares", respectively. The Preferred Shares, the Conversion
Shares and the Warrant Shares are sometimes collectively referred to as the
"Shares".
Section 1.3 PURCHASE PRICE AND CLOSING. The Company agrees to issue and
sell to the Purchasers and, in consideration of and in express reliance upon the
representations, warranties, covenants, terms and conditions of this Agreement,
113102
|
A.B. Watley
As referenced in this Preferred Stock Purchase Agreement:
A.B. WATLEY GROUP – EX-10.32
{SEQUENCE}3
{PAGE}
EXHIBIT 10.32
SERIES A CONVERTIBLE PREFERRED STOCK PURCHASE
AGREEMENT
DATED AS OF NOVEMBER 29, 2001
AMONG
A.B. WATLEY GROUP INC.
AND
THE PURCHASERS LISTED ON EXHIBIT A
{PAGE}
TABLE OF CONTENTS
-----------------
{TABLE}
{CAPTION}
{S} {C} {C} {C}
Page
ARTICLE I Purchase and
_____________
A.B. Watley Group
– STOCK PURCHASE AGREEMENT
This SERIES A CONVERTIBLE PREFERRED STOCK PURCHASE AGREEMENT (the
"Agreement") is dated as of November 29, 2001 by and among A.B. Watley Group
Inc., a Delaware corporation (the "Company"), and each of the Purchasers of
shares of Series A Convertible Preferred Stock of the Company
_____________
A.B. WATLEY GROUP
– NOT BE SOLD, TRANSFERRED OR OTHERWISE
-22-
{PAGE}
DISPOSED OF UNLESS REGISTERED UNDER THE SECURITIES ACT AND
UNDER APPLICABLE STATE SECURITIES LAWS OR A.B. WATLEY GROUP
INC. SHALL HAVE RECEIVED AN OPINION OF ITS COUNSEL THAT
REGISTRATION OF SUCH SECURITIES UNDER THE SECURITIES ACT AND
UNDER THE PROVISIONS
_____________
A.B. Watley Group – address,
or upon actual receipt of such mailing, whichever shall first occur. The
addresses for such communications shall be:
If to the Company: A.B. Watley Group Inc.
40 Wall Street
New York, New York 10005
Attention: Joseph M. Ramos, Jr., Chief
Financial Officer
Telephone No.: (212) 422-1664
Facsimile
_____________
A.B. WATLEY GROUP – the parties hereto have caused this Agreement to be
duly executed by their respective authorized officer as of the date first above
written.
A.B. WATLEY GROUP INC.
By:
------------------------------------
Name:
Title:
SDS MERCHANT FUND, L.P.
By:
------------------------------------
Name:
Title:
DMG LEGACY INTERNATIONAL LTD.
By:
------------------------------------
Name:
Title:
DMG LEGACY INSTITUTIONAL FUND
_____________
dt 220158
;
|
Jenkens
As referenced in this Preferred Stock Purchase Agreement:
Jenkens & Gilchrist – the Purchasers from the Company under this
Agreement shall take place at the offices of Jenkens & Gilchrist Parker Chapin
LLP, The Chrysler Building, 405 Lexington Avenue, New York, New York 10174 (
Jenkens & Gilchrist – or as
specified in writing by such
Purchaser with copies to:
Christopher S. Auguste, Esq.
Jenkens & Gilchrist Parker Chapin LLP
The Chrysler Building
405 Lexington Avenue
New York, New York 10174
Telephone
dt 37497
|
| Preview
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Asset Purchase Agreement
Asset Purchase Agreement (89K)
Doc #113103: Click preview link for longer preview.
ASSET PURCHASE AGREEMENT
THIS ASSET PURCHASE AGREEMENT, dated as of July 31, 2002, is by and among
INTEGRATED TRADING SOLUTIONS, INC., a Delaware corporation (the "PURCHASER"),
A.B. WATLEY GROUP INC., a Delaware corporation ("ABW"), and A.B. WATLEY, INC., a
New York corporation ("INC." and, with ABW, referred to at times as a "SELLER"
or "SELLERS").
W I T N E S S E T H:
WHEREAS, the Sellers desires to sell, transfer and assign to the Purchaser,
and the Purchaser desires to purchase and assume from the Sellers, all of the
Sellers` proprietary software assets, certain related intellectual property and
contract rights, and certain other assets, all as set forth in EXHIBIT A (the
"ASSETS"), pursuant to and in accordance with the terms and conditions of this
Agreement.
NOW, THEREFORE, in consideration of the premises and the mutual covenants
contained herein, the parties hereto, intending to be legally bound, hereby
agree as follows:
ARTICLE I
SALE OF ASSETS; ASSUMPTION OF LIABILITIES; CLOSING
1.1. SALE OF ASSETS. Subject to the terms and conditions of this Agreement,
at the Closing (as defined herein), the Sellers shall sell, assign, transfer and
deliver to the Purchaser, and the Purchaser shall purchase from the Sellers, all
of the Sellers` right, title and interest in and to the Assets.
1.2. ASSUMPTION OF LIABILITIES. The Purchaser does not assume and shall
have no liability whatsoever for any liability or obligation of any nature of
the Sellers, other than those liabilities and obligations arising from
agreements assigned to Purchaser by Sellers (and for which Sellers and Purchaser
have obtained the written consent of applicable third parties) after Closing to
the extent the same are expressly noted as accepted in writing by Purchaser in a
separate written notice provided by Purchaser to Sellers at or after Closing or
are noted as "Assumed Liabilities" on EXHIBIT A subject to any limitations noted
on EXHIBIT A (collectively, the "ASSUMED LIABILITIES"). Subject solely to the
effect of the terms set forth on EXHIBIT A and/or in any separate written notice
referred to in the first sentence of this Section, Purchaser shall reimburse
Sellers for the costs incurred by Sellers in connection with the Assumed
Liabilities. Notwithstanding anything to the contrary in the first sentence of
this Section, Purchaser shall not be obligated to assume the agreements
comprising Assumed Liabilities unless such assumption is on terms satisfactory
to Purchaser, provided that Purchaser agrees to use commercially reasonable
efforts to reach such acceptable terms with any third party to such agreements,
provided, further, that Sellers understand and agree that the decision to assume
any such agreement shall be in Purchaser`s sole discretion (for example, and
without limitation, (a) the failure of a third party to provide a license for
its products that will enable Purchaser to utilize such products for itself (and
not just for the benefit of Sellers) to enable global service bureau operations,
offsite licensing and product sales, (b) any increase proposed by a third party
with respect to its fees or costs, (c) any requirement that Purchaser assume
liabilities of Sellers that exist or existed prior to June 1, 2002, (d) any
determination by Purchaser or a third party that Sellers are not sufficiently
participating in the settlement of outstanding issues or indebtedness, and (e)
any determination by Purchaser that it would have to accept an obligation
related to providing multiple server or connectivity redundancy or technology
facilities or service of any kind from any physical location other than
Purchaser`s facility in Texas, would excuse Purchaser from concluding an
assignment). At the reasonable request of any Seller, Purchaser shall consider
in good faith (but without any obligation) incurring costs for other unknown
equipment useful in operating the Assets to the extent Sellers agree to reduce
{PAGE}
the cost of other Assumed Liabilities in a manner that offsets any proposed
increased cost.
1.3. PURCHASE PRICE. As consideration for the purchase of the Assets, the
Purchaser agrees to pay or cause to be paid to ABW a purchase price as follows
(the "PURCHASE PRICE"):
(a) At the Closing, Two Million One Hundred Fifty Thousand Dollars
($2,150,000) in principal amount of indebtedness owing by ABW, that was assigned
to Penson Financial Services, Inc. ("PENSON") prior to the Closing by Atlantic
Group, Steven Malin and LAN/WAN, and all interest owing in connection therewith
shall no longer be deemed by Penson to be an outstanding obligation of ABW in
favor of Penson (it being agreed that Purchaser and its affiliates make no
representation of any kind as to the actual value of such assigned
indebtedness);
(b) At the Closing, One Million Two Hundred Sixty Eight Thousand
Fifteen Dollars ($1,268,015) in principal amount of indebtedness owing by ABW to
Penson under the Promissory Note dated as of March 27, 2002, as amended (the
"NOTE"), shall no longer be deemed by Penson to be an outstanding obligation of
ABW in favor of Penson;
(c) An additional Two Million One Hundred Fifty Thousand Nine Hundred
Ninety Four Dollars ($2,150,994) in principal amount of indebtedness owing by
ABW to Penson under the Note (subject, however, to the operation of SECTION 3(F)
of the Note notwithstanding anything to the contrary herein), together with all
accrued interest in relation to such Note, shall no longer be deemed by Penson
to be an outstanding obligation of ABW in favor of Penson on such date as Penson
has received no less than Five Million Dollars ($5,000,000) in revenues, from
and after the Closing Date but prior to the thirty-sixth month after the Closing
Date, under the Fully Disclosed Clearing Agreement dated as of October 3, 1996,
as amended, between Penson and Inc. (for purposes of this clause "revenues"
means the amount received by Penson that equals the sum of (i) wholesale ticket
charges for transactions introduced by Inc. charged by Penson to Inc. (i.e., any
mark up of such charges by Inc. to its customers and regulatory charges shall
not be included in the calculation of revenues received) and (ii) net interest
income earned by Penson from Inc.`s customers to the extent such interest
payments are for Penson`s sole benefit, it being understood and agreed that
Penson`s ordinary course records of such charges and amounts shall be conclusive
and binding evidence as to the total of such charges and amounts absent manifest
error); provided, further that (i) notwithstanding the above provision (but
subject to the effect of SECTION 3(F) of the Note) the cancellation of
outstanding obligations referenced in this SECTION 1.3(C) shall occur on such
earlier date on which the Sellers provide written notice to Penson (together
with all relevant documentation evidencing (A) in the case of new equity
investment, compliance with the condition regarding redemption and other cash
payment provisions set forth below, and (B) in other cases such evidence as
Penson may request, in each such case such evidence to be in form and substance
acceptable to Penson), and Penson confirms by written notice (such confirmation
by Penson to be delivered no later than 10 business days after the date Penson
receives appropriate evidence of the new equity investment described above and
such confirmation to be delivered no later than 30 days after the date Penson
receives other evidence referred to above, in each case assuming the appropriate
evidence and the terms of this Agreement and the Related Documents have been
complied with) to Sellers its satisfaction with the applicable supporting
documentation therefor, that at least Four Million Dollars ($4,000,000) in new
equity capital (with any equity not permitted to have any cash payment pursuant
to mandatory redemption or other cash payment provisions affecting the principal
amount of the investment made in obtaining such equity prior to 18 months after
the Closing Date) is raised and received by Sellers (which shall include
forgiveness of debt after the Closing Date (but not any inchoate debt or payment
obligation of Sellers such as a guaranty by any Seller) solely to the extent
debt is forgiven by unaffiliated third parties that are not shareholders of ABW
and where such debt forgiveness does not occur as a result of Purchaser`s or its
113103
|
SunGard Data
As referenced in this Asset Purchase Agreement:
Sungard Data Systems, Inc. – Purchaser to third parties within 30 days after the Purchaser`s
receipt thereof as follows to the extent ABW makes an introduction to the third
parties listed below (other than Sungard Data Systems, Inc. and E*TRADE Group,
Inc., for which no introduction shall be required):
[*]
3
{PAGE}
PROVIDED, HOWEVER, that notwithstanding any of the forgoing to the contrary, (A)
ABW shall not
_____________
dt 1320906
;
SunGard Data
As referenced in this Asset Purchase Agreement:
Sungard Data Systems, Inc. – Purchaser to third parties within 30 days after the Purchaser`s
receipt thereof as follows to the extent ABW makes an introduction to the third
parties listed below (other than Sungard Data Systems, Inc. and E*TRADE Group,
Inc., for which no introduction shall be required):
[*]
3
{PAGE}
PROVIDED, HOWEVER, that notwithstanding any of the forgoing to the contrary, (A)
ABW shall not
_____________
dt 1450730
;
|
A.B. Watley
As referenced in this Asset Purchase Agreement:
A.B. WATLEY GROUP – THIS ASSET PURCHASE AGREEMENT, dated as of July 31, 2002, is by and among
INTEGRATED TRADING SOLUTIONS, INC., a Delaware corporation (the "PURCHASER"),
A.B. WATLEY GROUP INC., a Delaware corporation ("ABW"), and A.B. WATLEY, INC., a
New York corporation ("INC." and, with ABW, referred to at times as
_____________
A.B. Watley Group – Services, Inc.
1700 Pacific Ave, Suite 1400
Dallas, Texas 75201
Attention: President and COO
Telecopy: (214) 765-1164
(ii) If to the Sellers:
A.B. Watley Group Inc.
40 Wall Street
New York, New York 10005
Attention: CEO
Telecopy: (212) 422-1724
A.B. Watley, Inc.
40 Wall Street
New
_____________
A.B. WATLEY GROUP – parties hereto has executed this Agreement
as of the date and year first above written.
INTEGRATED TRADING SOLUTIONS, INC.
By: _______________________________________
Name:
Title:
A.B. WATLEY GROUP INC.
By: _______________________________________
Name:
Title:
By: _______________________________________
Name:
Title:
A.B. WATLEY, INC.
By: _______________________________________
Name:
Title:
[*] Confidential information has been omitted and
_____________
dt 220159
;
A.B. Watley, Inc.
|
| 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
{/TABLE}
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{PAGE}
{TABLE}
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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
{/TABLE}
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{PAGE}
{TABLE}
{S} {C} {C} {C}
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}
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{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
|
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
;
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
;
More... |
| Preview
Subscribers | 2003 |
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
|
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 Purchas |