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Contribution Agreement

 

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Title:

Contribution Agreement

Entities:

Accpac International Inc.; Computer Associates International Inc.; Computer Associates International; Accpac International Inc

Date:

2002

Size:

Preview shows 5KB of 15KB total

Price:

$42

ID:

#125091

 

 

► Financing ► Contribution Agreements
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CONTRIBUTION AGREEMENT

        CONTRIBUTION AGREEMENT dated January 7, 1998 by and between Computer Associates International, Inc. ("CA") and ACCPAC International, Inc. ("AI").

        WHERAS, the Board of Directors of CA has determined that it is in the best interest of CA and its shareholders to separate the business conducted by CA's, ACCPAC independent business unit ("iBU) into a separate business; and

        WHEREAS, in furtherance of the foregoing it is appropriate and desirable to transfer the assets used in the operation of the ACCPAC iBU to AI and its subsidiaries and to cause AI and its subsidiaries to assume the liabilities which have arisen in the course of the operation of the ACCPAC iBU, all as more fully described in this Agreement; and

        WHEREAS, the Board of Directors of CA has further determined that it is appropriate and desirable, on the terms and conditions contemplated in this Agreement, to cause AI to offer and sell for its own account in an initial public offering a limited number of shares of AI common stock; and

        WHEREAS, in consideration for the transfer of the ACCPAC assets to AI, AI will issue 2625 shares of its common stock to CA and a note to CA in the amount of $5 million and assume all of the liabilities associated with the ACCPAC assets.

        NOW THEREFORE, the parties intending to be legally bound agree as follows:

        l.    Transfer of Assets and Assumption of Liabilities.    

        2.    AI Assets.    For purposes of this agreement "AI. Assets" shall mean (without duplication) any and all assets, properties and rights (including the goodwill associated therewith), wherever located, that are being used exclusively or primarily in the business of the ACCPAC iBU, including all accounting and other books, records and information; all computer, equipment and other tangible personal, property; all inventories, work-in-process and finished goods; all the outstanding capital stock of DistribuPro, Inc.; all license agreements, purchase orders and other contracts, agreements and commitments; all written technical information, data, specifications and research and development


 

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