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Asset Purchase Agreement

 

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Title:

Asset Purchase Agreement

Entities:

J.P. Morgan Securities Inc.; Water Pik Technologies Inc.

Date:

2005

Size:

107KB total

Price:

$55

ID:

#1056057

 

 

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

 

by and among

 

LAARS ACQUISITION, INC.,

 

as Buyer,

 

BRADFORD WHITE CORPORATION,

 

WATER PIK TECHNOLOGIES, INC.,

 

and

 

LAARS, INC.,

 

JANDY INDUSTRIES, INC.

 

and

 

WATER PIK TECHNOLOGIES CANADA, INC.,

 

as Sellers

 

Dated as of June 6, 2005

 



 

TABLE OF CONTENTS

 

ARTICLE I

PURCHASE AND SALE OF ASSETS; ASSUMPTION OF LIABILITIES

 

 

 

 

 

1.1

Transfer of Assets

 

 

 

 

 

 

1.2

Assets Not Transferred

 

 

 

 

 

 

1.3

Assumption of Liabilities

 

 

 

 

 

 

1.4

Non-Assumption of Other Liabilities

 

 

 

 

ARTICLE II

CLOSING AND PURCHASE PRICE

 

 

 

 

 

2.1

Time and Place of Closing

 

 

 

 

 

 

2.2

Purchase Price.

 

 

 

 

 

 

2.3

Payment of Purchase Price

 

 

 

 

 

 

2.4

Closing Deliveries

 

 

 

 

 

 

2.5

Post Closing Adjustment to Purchase Price.

 

 

 

 

 

 

2.6

Sale of Boiler Raw Material Inventory

 

 

 

 

 

 

2.7

Tax Allocation

 

 

 

 

 

 

2.8

Canadian Tax Election.

 

 

 

 

ARTICLE III

REPRESENTATIONS AND WARRANTIES OF SELLERS

 

 

 

 

 

3.1

Organization; Standing and Power

 

 

 

 

 

 

3.2

Authority; Non-Contravention; Necessary Consents

 

 

 

 

 

 

3.3

Title to and Sufficiency of Assets

 

 

 

 

 

 

3.4

Financial Statements

 

 

 

 

 

 

3.5

Taxes

 

 

 

 

 

 

3.6

Intellectual Property

 

 

 

 

 

 

3.7

Compliance; Permits

 

 

 

 

 

 

3.8

Litigation

 

 

 

 

 

 

3.9

Environmental Matters

 

 

 

 

 

 

3.10

Contracts

 

 

 

 

 

 

3.11

Brokers and Finders Fees

 

 

 

 

 

 

3.12

Condition of Assets; Limited Warranties

 

 

 

 

ARTICLE IV

REPRESENTATIONS AND WARRANTIES OF BUYER AND BWC

 

 

 

 

 

4.1

Organization; Standing and Power; Charter Documents; Subsidiaries

 

 

i



 

 

4.2

Authority; Non-Contravention; Necessary Consents

 

 

 

 

 

 

4.3

Brokers and Finders Fees

 

 

 

 

 

 

4.4

Available Funds

 

 

 

 

 

 

4.5

No Reliance

 

 

 

 

ARTICLE V

CONDUCT PRIOR TO THE CLOSING

 

 

 

 

 

5.1

Conduct of the Business by Sellers

 

 

 

 

 

 

5.2

Soil Testing

 

 

 

 

ARTICLE VI

AGREEMENTS

 

 

 

 

 

6.1

Confidentiality; Access to Information

 

 

 

 

 

 

6.2

Public Disclosure

 

 

 

 

 

 

6.3

Notification of Certain Matters

 

 

 

 

 

 

6.4

Third-Party Consents

 

 

 

 

 

 

6.5

U.S. Based Employee Matters

 

 

 

 

 

 

6.6

Canadian Based Employee Matters

 

 

 

 

 

 

6.7

Guarantees and Letters of Credit

 

 

 

 

 

 

6.8

Insurance Matters

 

 

 

 

ARTICLE VII

CONDITIONS OF PURCHASE

 

 

 

 

 

7.1

Conditions to the Obligations of Each Party to Effect the Purchase

 

 

 

 

 

 

7.2

Additional Conditions to the Obligations of Buyer

 

 

 

 

 

 

7.3

Additional Conditions to the Obligations of Sellers

 

 

 

 

ARTICLE VIII

TERMINATION, AMENDMENT AND WAIVER

 

 

 

 

 

8.1

Termination