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Asset Purchase Agreement

 

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Title:

Asset Purchase Agreement

Entities:

Alamo Group Inc.; JLG Industries Inc.

Date:

2006

Size:

Preview shows 21KB of 170KB total

Price:

$70

ID:

#1062842

 

 

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ASSET PURCHASE AGREEMENT

among

THE GRADALL COMPANY, as Seller,

GRADALL INDUSTRIES, INC., as Seller Parent,

JLG INDUSTRIES, INC., as JLG,

ALAMO GROUP (OH) INC., as Buyer,

NP REAL ESTATE INC., as Real Property Buyer, and

ALAMO GROUP INC., as Buyer Parent

                                                           

Dated as of February 3, 2006

                                                           

 

 

 

                                                                                                                                                           



Table of Contents

   

Page

ARTICLE I 1
  Section 1.01         Transfer of Property and Assets. 1
  Section 1.02         Excluded Assets. 3
  Section 1.03         Consents to Certain Assignments. 4
  Section 1.04         Assumption of Liabilities. 4
  Section 1.05         Consideration. 7
ARTICLE II.      7
  Section 2.01         Closing. 7
  Section 2.02         Deliveries by Seller 7
  Section 2.03         Deliveries by Buyer and Real Property Buyer. 9
  Section 2.04         Post-Closing Purchase Price Adjustment. 11
  Section 2.05         Allocation of Purchase Price. 15
ARTICLE III. 15
  Section 3.01         Organization. 15
  Section 3.02         Authorization. 15
  Section 3.03         No Conflicts or Violations; No Consents or Approvals Required. 15
  Section 3.04         Financial Statements. 16
  Section 3.05         Title to Transferred Assets. 16
  Section 3.06         Material Contracts. 16
  Section 3.07         Conduct of Business Since Statement Date; Absence of Changes. 16
  Section 3.08         Compliance with Law and Permits. 17
  Section 3.09         Litigation; Orders. 17
  Section 3.10         Intellectual Property. 18
  Section 3.11         Taxes. 18
  Section 3.12         Entire Business. 18
  Section 3.13         Brokers and Finders. 18
  Section 3.14         Environmental Matters. 18
  Section 3.15         Labor Matters. 19
  Section 3.16         Employee Benefit Plans. 20
  Section 3.17         Insurance. 21
  Section 3.18         Product Liability. 21
  Section 3.19         Product Warranties. 22

i



  Section 3.20         Customers and Suppliers. 22
  Section 3.21         Schedules and Exhibits. 22
  Section 3.22         No Implied Representation. 22
  Section 3.23         Adequate Disclosure. 22
  Section 3.24         Construction of Certain Provisions. 23
ARTICLE IV. 23
  Section 4.01         Organization. 23
  Section 4.02         Authorization. 23
  Section 4.03         No Violations; No Consents or Approvals Required. 23
  Section 4.04         Brokers and Finders. 24
  Section 4.05         Availability of Funds. 24
ARTICLE V. 24
  Section 5.01         Offers of Employment. 24
  Section 5.02         Employment Terms. 24
  Section 5.03         Credit for Service with Seller. 24
  Section 5.04         Pension Benefits. 25
  Section 5.05         Savings Plans. 25
  Section 5.06         Welfare Benefit Plans. 25
  Section 5.07         Severance Liability. 27
  Section 5.08         Earned Vacation. 28
  Section 5.09         Regulatory Filings and Further Assurances. 28
  Section 5.10         Employment Tax Reporting Responsibility. 28
  Section 5.11         WARN Act. 28
  Section 5.12         Employee Communications. 28
ARTICLE VI. 28
  Section 6.01         Obligation of Parties to Indemnify. 29
  Section 6.02         Indemnification for Qualified Environmental Matters. 30
  Section 6.04         Indemnification Procedures. 32
  Section 6.05         Limitations on Indemnification Generally. 33
ARTICLE VII. 34
  Section 7.01         Tax Indemnification by Seller. 34
  Section 7.02         Tax Indemnity and Covenant by Buyer. 34
  Section 7.03         Allocation of Certain Taxes. 35

-ii-




 
  Section 7.04         Refunds. 35
  Section 7.05         Cooperation and Provision of Information. 36
  Section 7.06         Survival of Covenants. 36
ARTICLE VIII. 36
  Section 8.01         Certain Services and Benefits Provided by Affiliates. 36
  Section 8.02         Seller's Access to Information. 37
  Section 8.03         Public Announcements. 37
  Section 8.04         Termination of Insurance. 37
  Section 8.05         Limitations on Damages. 37
  Section 8.06         Further Assurances. 37
  Section 8.07         Refunds and Remittances. 37
  Section 8.08         Use of Transferred Records, Etc. 38

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