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Document Preview Asset Purchase Agreement |
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Title: |
Asset Purchase Agreement |
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Entities: |
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Date: |
2004 |
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Size: |
Preview shows 5KB of 171KB total |
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Price: |
$48 |
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ID: |
#1025403 |
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ASSET PURCHASE AGREEMENT
THIS AGREEMENT made as of the 17th day of March, 2004.
BETWEEN:
WORKSTREAM USA, INC.,
a corporation incorporated under the laws of Delaware
(hereinafter referred to as the "Purchaser")
AND:
WORKSTREAM INC.,
a corporation incorporated under the laws of Canada
(hereinafter referred to as "Workstream")
AND:
PEOPLEVIEW, INC.,
a corporation incorporated under the laws of the State of Nevada
(hereinafter referred to as the "Vendor")
WHEREAS:
A. The Vendor carries on the business of providing real-time decision support
for human capital management;
B. The Vendor wishes to sell and assign to the Purchaser, and the Purchaser
wishes to purchase and assume from Vendor certain of the assets of such
business on the terms and subject to the conditions hereinafter contained.
NOW THEREFORE in consideration of the mutual covenants and agreements herein
contained and other good and valuable consideration paid by each of the parties
hereto to each of the other parties hereto (the receipt and sufficiency of which
are hereby acknowledged), it is agreed among the parties hereto as follows:
1. INTERPRETATION
1.1. DEFINED TERMS. In this Agreement and in the schedules hereto,
unless there is something in the subject-matter or context
inconsistent therewith, the following terms and expressions
will have the following meanings:
<PAGE>
1.1.1. "Affiliate" of any person means any corporation
which, directly or indirectly, is controlled by,
controls or is under direct or indirect common
control with such person;
1.1.2. "Agreement", "hereto", "herein", "hereof",
"hereunder" and similar expressions refer to this
Asset Purchase Agreement and not any particular
paragraph or any particular portion of this agreement
and includes all schedules attached to this
agreement;
1.1.3. "Assumed Contracts" means all contracts, agreements,
orders, commitments and other engagements by or with
third parties relating to the Business which are
included in the Purchased Assets including, without
limitation, the Customer Contracts and the Leases all
of which, including amounts payable thereon, all of
which are listed in Schedule 1.1.3 attached hereto;
1.1.4. "Business" means the business carried on by the
Vendor which primarily involves the provision of
real-time decision support for human capital
management;
1.1.5. "Business Day" means a day other than a Saturday, a
Sunday or other day on which commercial banks in
Ottawa, Ontario, Canada are authorized or required by
law to close;
1.1.6. "Closing Date" means March 17, 2004, or such other
date as the Vendor and Purchaser may agree upon;
1.1.7. "Closing Time" means 2:00 o'clock in the afternoon on
the Closing Date or such other time on the Closing
Date as the parties hereto may agree upon;
1.1.8. "Commission" means the Securities and Exchange
Commission;
1.1.9. "Commission Documents" means all of the Purchaser's
filings with the Commission prior to the date hereof;
1.1.10. "Customer Contracts" means any and all agreements
entered into between the Vendor and one or more third
parties relating to the sale or provision of goods or
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