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Purchase and Sale Agreement

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Title:

Purchase and Sale Agreement

Entities:

Kulicke & Soffa Industries Inc.; PNC Bank, NA; Drinker Biddle & Reath LLP

Date:

2001

Size:

Preview shows 6KB of 131KB total

Price:

$53

ID:

#1161419

► Purchase & Sale ► Purchase & Sale Agreements
► Financial
► Technology ► Semiconductors
► Services ► Legal

Start of Preview

<SEQUENCE>4

<FILENAME>w52042ex10-2.txt

<DESCRIPTION>PURCHASE AND SALE AGREEMENT

<TEXT>

<PAGE>   1







================================================================================



                           PURCHASE AND SALE AGREEMENT



                           Dated as of April 17, 2001







                                     between



                     VARIOUS ENTITIES LISTED ON SCHEDULE I,

                               as the Originators



                                       and



                             KSI FUNDING CORPORATION





================================================================================



                                                     Purchase and Sale Agreement

<PAGE>   2

                                TABLE OF CONTENTS



<TABLE>

<CAPTION>

                                                                                          Page

                                                                                          ----

<S>                      <C>                                                              <C>

                                    ARTICLE I

                         AGREEMENT TO PURCHASE AND SELL



SECTION 1.1              Agreement To Purchase and Sell .................................  1

SECTION 1.2              Timing of Purchases ............................................  3

SECTION 1.3              Consideration for Purchases ....................................  3

SECTION 1.4              Purchase and Sale Termination Date .............................  3

SECTION 1.5              Intention of the Parties .......................................  3





                                   ARTICLE II

                 PURCHASE REPORT; CALCULATION OF PURCHASE PRICE



SECTION 2.1              Purchase Report ................................................  4

SECTION 2.2              Calculation of Purchase Price ..................................  4





                                   ARTICLE III

                            PAYMENT OF PURCHASE PRICE



SECTION 3.1              Contribution of Receivables and Initial Purchase

                         Price Payment ..................................................  5

SECTION 3.2              Subsequent Purchase Price Payments .............................  5

SECTION 3.3              Settlement as to Specific Receivables and Dilution .............  6

SECTION 3.4              Reconveyance of Receivables ....................................  7





                                   ARTICLE IV

                             CONDITIONS OF PURCHASES



SECTION 4.1              Conditions Precedent to Initial Purchase .......................  7

SECTION 4.2              Certification as to Representations and Warranties .............  9

SECTION 4.3              Additional Originators .........................................  9





                                    ARTICLE V

                REPRESENTATIONS AND WARRANTIES OF THE ORIGINATOR



SECTION 5.1              Organization and Good Standing ................................. 10

SECTION 5.2              Due Qualification .............................................. 10

SECTION 5.3              Power and Authority; Due Authorization ......................... 10

</TABLE>



                                                     Purchase and Sale Agreement

<PAGE>   3

<TABLE>

<S>                     <C>                                                               <C>

SECTION 5.4             Valid Sale; Binding Obligations ................................. 10

SECTION 5.5             No Violation .................................................... 10

SECTION 5.6             Proceedings ..................................................... 11

SECTION 5.7             Bulk Sales Acts ................................................. 11

SECTION 5.8             Government Approvals ............................................ 11

SECTION 5.9             Financial Condition ............................................. 11

SECTION 5.10            Licenses, Contingent Liabilities, and Labor Controversies ....... 11

SECTION 5.11            Margin Regulations .............................................. 12

SECTION 5.12            Quality of Title ................................................ 12

SECTION 5.13            Accuracy of Information ......................................... 12

SECTION 5.14            Offices ......................................................... 12

SECTION 5.15            Trade Names ..................................................... 12

SECTION 5.16            Taxes ........................................................... 13

SECTION 5.17            Compliance with Applicable Laws ................................. 13

SECTION 5.18            Reliance on Separate Legal Identity ............................. 13

SECTION 5.19            Investment Company .............................................. 13







                                   ARTICLE VI

                          COVENANTS OF THE ORIGINATORS



SECTION 6.1             Affirmative Covenants ........................................... 13

SECTION 6.2             Reporting Requirements .......................................... 15

End of Preview

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