|
|
|
|
Document Preview Equipment Purchase Agreement |
||||
|
|
||||
|
Click "Add to Cart" button to purchase document. |
||||
|
|
||||
|
Title: |
Equipment Purchase Agreement |
|||
|
Entities: |
||||
|
Date: |
2005 |
|||
|
Size: |
Preview shows 9KB of 76KB total |
|||
|
Price: |
$48 |
|||
|
ID: |
#1036610 |
|||
|
|
||||
|
||||
|
|
||||
|
Start of Preview |
||||
EQUIPMENT PURCHASE AGREEMENT
BETWEEN
LEXINGTON PRECISION CORPORATION
AND
PREMIER TOOL & DIE CAST CORP.
AUGUST 2, 2005
<PAGE>
TABLE OF CONTENTS
<TABLE>
<CAPTION>
Page
----
<S> <C>
1. Purchase and Sale of Assets............................................... 1
1.1 Purchase and Sale of Assets......................................... 1
1.2 Excluded Assets..................................................... 1
1.3 Excluded Liabilities................................................ 1
2. Purchase Price............................................................ 2
2.1 Purchase Price...................................................... 2
2.2 Delivery by Seller.................................................. 2
2.3 Deliveries by Buyer................................................. 2
3. Seller's Representations and Warranties................................... 2
3.1 Organization and Good Standing...................................... 2
3.2 Due Authorization, etc.............................................. 2
3.3 Litigation.......................................................... 2
3.4 Purchased Assets.................................................... 2
3.5 Title to Tangible Personal Property................................. 3
3.6 No Defaults; Consents............................................... 3
3.7 Brokers............................................................. 3
4. Buyer's Representations and Warranties.................................... 3
4.1 Organization and Good Standing...................................... 3
4.2 Due Authorization, etc.............................................. 3
4.3 Litigation.......................................................... 3
4.4 Brokers............................................................. 3
5. Survival and Indemnification.............................................. 3
5.1 Survival............................................................ 3
5.2 Indemnification of Buyer............................................ 4
5.3 Indemnification of Seller........................................... 4
5.4 Notice of Claims.................................................... 4
5.5 Defense of Third Party Claims....................................... 4
5.6 Certain Limitations................................................. 5
6. Miscellaneous............................................................. 5
6.1 Benefit of Agreement................................................ 5
6.2 Expenses............................................................ 5
6.3 Entire Agreement; Amendments........................................ 6
6.4 Counterparts and Facsimile Signatures............................... 6
</TABLE>
-i-
<PAGE>
<TABLE>
<CAPTION>
Page
----
<S> <C>
6.5 Section Headings.................................................... 6
6.6 Notices............................................................. 6
6.7 Governing Law....................................................... 6
6.8 Submission to Jurisdiction; Consent to Service of Process........... 7
6.9 Interpretation...................................................... 7
</TABLE>
EXHIBITS
Exhibit A Promissory Note
Exhibit B Bill of Sale
SCHEDULES
Schedule 1.1(a)(i) Basic Equipment
Schedule 1.1(a)(ii) Additional Equipment
Schedule 1.1(b) Inventory
-ii-
<PAGE>
EQUIPMENT PURCHASE AGREEMENT
THIS EQUIPMENT PURCHASE AGREEMENT is made as of August 2, 2005 by and
between LEXINGTON PRECISION CORPORATION, a Delaware corporation ("Seller"), and
PREMIER TOOL & DIE CAST CORP., a Michigan corporation ("Buyer").
W I T N E S S E T H:
WHEREAS, Seller desires to sell, and Buyer desires to purchase, certain
machinery, equipment and inventory of Seller, all on and subject to the terms
and conditions set forth herein.
NOW, THEREFORE, in consideration of the mutual covenants and agreements
herein contained and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto hereby agree as
follows:
1. Purchase and Sale of Assets
1.1 Purchase and Sale of Assets. On the date hereof (the "Effective
Date"), upon and subject to the terms and conditions of this Agreement, Seller
shall sell, transfer, assign, convey and deliver to Buyer, and Buyer shall
purchase and acquire from Seller, free and clear of all security interests,
liens, charges and encumbrances ("Liens") all of Seller's right, title and
interest in and to the following assets (collectively, the "Purchased Assets"):
(a) The machinery and equipment listed on Schedule 1.1(a)(i) ("Basic
Equipment") and the machinery and equipment listed on Schedule 1.1(a)(ii) hereto
(the "Additional Equipment"; the Basic Equipment and the Additional Equipment
are referred to collectively as the "Equipment"); and
(b) Inventory. Inventory consisting of metals, packaging and pallets
listed on Schedule 1.1(b) including all supplies related thereto in the
possession of Seller at Seller's premises in Lakewood, New York (collectively,
the "Inventory").
1.2 Excluded Assets. Notwithstanding any provision of this Agreement
to the contrary, Seller shall retain and shall not sell or deliver to Buyer, and
Buyer shall not purchase from Seller any assets other than the Purchased Assets
(collectively, the "Excluded Assets"). The Excluded Assets include, without
limitation, all cash and cash equivalents, all receivables, all claims and
causes of action, purchase orders, contracts and agreements, customer dies,
fixtures and all rights in and to the name "Lexington," "Lexington Precision,"
"Lexington Die Casting" or any logos or variations thereof.
1.3 Excluded Liabilities. Buyer is not assuming any liabilities or
obligations of Seller of any kind whatsoever pursuant to this Agreement. Without
limiting the generality of the previous sentence, Buyer is not assuming pursuant
to this Agreement any liability or obligations whatsoever related to
environmental contamination or the generation, storage, management, release, or
disposal of hazardous substances or wastes at Seller's property .
<PAGE>
2. Purchase Price.
2.1 Purchase Price(a) . (a) In consideration of the sale,
assignment, transfer and delivery of the Purchased Assets to Buyer, on the date
hereof Buyer is paying to Seller the sum of (a) $2,560,000 for the Equipment,
plus (b) $92,443 for the Inventory (collectively, the "Purchase Price").
(b) The Purchase Price shall be paid on the date hereof as follows:
(i) $2,452,443 shall be paid in cash (the "Cash Purchase Price"); and (ii)
$200,000 shall be paid by Buyer's delivery of a promissory note in the form
attached hereto as Exhibit A (the "Note"). The Buyer will pay the Cash Purchase
Price by wire transfer of immediately available funds to the account specified
in writing by Seller.
|
End of Preview |
Home Intelligence Services Subscriptions News About Us