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Asset Purchase Agreement

 

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Title:

Asset Purchase Agreement

Entities:

Fleetwood Enterprises, Inc.; Lehman Brothers Inc.; Nelson Mullins Riley & Scarborough

Date:

2005

Size:

208KB total

Price:

$55

ID:

#1054808

 

 

► Purchase & Sale ► Purchase ► Asset Purchase Agreements
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► Financial
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ASSET PURCHASE AGREEMENT

 

 


 

By and among

 

Fleetwood Enterprises, Inc.,
Fleetwood Retail Corp. and
Fleetwood Retail Corp. Affiliates

 

and

 

CMH Homes, Inc. and CMH of KY., Inc.

 

 


 

 

as of July 7, 2005

 

 

 



 

TABLE OF CONTENTS

 

ARTICLE I

 

DEFINITIONS

 

 

 

ARTICLE II

 

PURCHASE AND SALE OF PURCHASED ASSETS;
ASSUMPTION OF ASSUMED OBLIGATIONS; CLOSING

 

 

 

 

 

Section 2.1

 

Purchased Assets

 

Section 2.2

 

Excluded Assets

 

Section 2.3

 

Assumed Obligations

 

Section 2.4

 

Retained Obligations

 

Section 2.5

 

Payment of Purchase Price

 

Section 2.6

 

Adjustment Amount and Payment; Closed and Funded Sales Agreements

 

Section 2.7

 

Allocation of Purchase Price

 

Section 2.8

 

Closing

 

Section 2.9

 

Closing Obligations of Sellers

 

Section 2.10

 

Closing Obligations of Buyers

 

Section 2.11

 

Consents

 

Section 2.12

 

Proration of Charges

 

 

 

 

 

ARTICLE III

 

REPRESENTATIONS AND WARRANTIES OF THE SELLER GROUP

 

 

 

 

 

Section 3.1

 

Organization and Good Standing

 

Section 3.2

 

Due Authorization; Power and Authority

 

Section 3.3

 

No Conflicts

 

Section 3.4

 

Required Consents, Approvals and Filings

 

Section 3.5

 

Title to Purchased Assets Other Than Real Property

 

Section 3.6

 

Financial Statements

 

Section 3.7

 

Condition of Facilities

 

Section 3.8

 

Inventory

 

Section 3.9

 

Events Subsequent

 

Section 3.10

 

Taxes

 

Section 3.11

 

No Violation of Law; Governmental Authorizations

 

Section 3.12

 

Owned Real Property

 

Section 3.13

 

Leased Real Property

 

Section 3.14

 

Litigation

 

Section 3.15

 

Employees

 

Section 3.16

 

Collective Bargaining

 

Section 3.17

 

Contracts and Sales Agreements

 

Section 3.18

 

Environmental and Safety Matters

 

Section 3.19

 

Seller Employee Plans

 

 



 

Section 3.20

 

Solvency

 

Section 3.21

 

Books and Records

 

Section 3.22

 

Brokers

 

Section 3.23

 

No Other Representations or Warranties

 

 

 

 

 

ARTICLE IV

 

REPRESENTATIONS AND WARRANTIES OF BUYERS

 

 

 

 

 

Section 4.1

 

Organization and Good Standing

 

Section 4.2

 

Due Authorization; Power and Authority

 

Section 4.3

 

No Conflicts

 

Section 4.4

 

Required Consents, Approvals and Filings

 

Section 4.5

 

Certain Proceedings

 

Section 4.6

 

Sufficient Funds

 

Section 4.7

 

Brokers

 

 

 

 

 

ARTICLE V

 

COVENANTS OF THE SELLER GROUP PRIOR TO CLOSING

 

 

 

 

 

Section 5.1

 

Operations Pending Closing

 

Section 5.2

 

Access

 

Section 5.3

 

Required Approvals

 

Section 5.4

 

Notification; Right to Modify Disclosure Schedule

 

Section 5.5

 

No Solicitation

 

Section 5.6

 

Best Efforts

 

Section 5.7

 

Payment of Liabilities; Bulk Sales Compliance

 

Section 5.8

 

Current Evidence of Title

 

Section 5.9

 

Environmental Matters

 

 

 

 

 

ARTICLE VI

 

COVENANTS OF BUYERS PRIOR TO CLOSING

 

 

 

 

 

Section 6.1

 

Required Approvals

 

Section 6.2

 

Best Efforts

 

Section 6.3

 

Diligence

 

Section 6.4

 

Prepaid Rent Locations

 

 

 

 

 

ARTICLE VII

 

CONDITIONS PRECEDENT TO BUYERS OBLIGATION TO CLOSE

 

 

 

 

 

Section 7.1

 

Accuracy of Representations

 

Section 7.2

 

Seller Groups Performance

 

Section 7.3

 

Lease Consents

 

Section 7.4

 

Additional Documents

 

 



 

Section 7.5