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Document Preview Asset Purchase Agreement |
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Title: |
Asset Purchase Agreement |
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Entities: |
John Wiley & Sons, Inc.; Morgan, Lewis & Bockius; Smith, Gambrell & Russell; Pearson Education, Inc.; Adam.Com, Inc.; adam inc |
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Date: |
2001 |
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Size: |
Preview shows 4KB of 95KB total |
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Price: |
$62 |
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ID: |
#124425 |
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ASSET PURCHASE AGREEMENT
DATED AS OF JUNE 22, 2001
BETWEEN
PEARSON EDUCATION, INC.
AND
ADAM.COM, INC.
{PAGE}
Exhibit A - Form of Bill of Sale and General Assignment
Exhibit B - Form of Copyright Assignment
Exhibit C - Form of Amended and Restated Development Agreement
ANNEX
Annex I - Permitted Products
Annex II - Co-Developed Products
Annex III - Terms and Conditions of Distribution of Inventory
Annex IV - Additional Terms and Conditions of Content License
Annex V - Images Products
{PAGE}
ASSET PURCHASE AGREEMENT
ASSET PURCHASE AGREEMENT dated as of June 22, 2001 (this "AGREEMENT")
between Pearson Education, Inc., a Delaware corporation (the "PURCHASER"), and
adam.com, Inc., a Georgia corporation (f/k/a A.D.A.M. Software, Inc.) (the
"SELLER").
RECITALS
WHEREAS, the Seller and Benjamin/Cummings, Purchaser's
predecessor-in-interest, entered into the Development Agreement, which provided
for, among other things, the joint development by Purchaser and Seller of
certain "Co-Developed Products" (as that term is defined in the Development
Agreement).
WHEREAS, the Purchaser desires to purchase from the Seller and the
Seller desires to sell to the Purchaser all of Seller's rights, title and
interest in and to the Co-Developed Products and certain related assets, all
upon the terms and conditions set forth in this Agreement.
NOW, THEREFORE, in consideration of the representations, warranties and
covenants 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:
ARTICLE I
CERTAIN DEFINITIONS
1.1 CERTAIN DEFINITIONS.
(a) The following terms, when used in this Agreement, shall have the
respective meanings ascribed to them below:
"ACTION" means any claim, action, suit, inquiry, hearing, investigation
or other proceeding.
"AFFILIATE" means, with respect to a Person, any other Person that,
directly or indirectly, through one or more intermediaries, Controls, is
controlled by or is under common Control with, such Person. For purposes of this
definition, "CONTROL" (including, with correlative meanings, the terms
"Controlled by" and "under common Control with") means the possession, directly
or indirectly, of the power to direct or cause the direction of the management
or policies of a Person, whether through the ownership of stock, as trustee or
executor, by Contract or credit arrangement or otherwise.
"AGREEMENT" has the meaning set forth in the preamble hereto.
"AMENDED AND RESTATED DEVELOPMENT AGREEMENT" has the meaning set forth
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