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Contribution and Exchange Agreement

 

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Title:

Contribution and Exchange Agreement

Entities:

CKX, Inc.; Sports Entertainment Enterprises Inc.; Greenberg Traurig

Date:

2005

Size:

298KB total

Price:

$74

ID:

#1308074

 

 

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CONTRIBUTION AND EXCHANGE AGREEMENT

 

 

among

 

 

THE PROMENADE TRUST

 

 

and

 

 

RFX ACQUISITION LLC

 

 

and

 

 

SPORTS ENTERTAINMENT ENTERPRISES, INC.

 

 

Dated as of December 15, 2004

 

 

 



 

TABLE OF CONTENTS

 

ARTICLE I DEFINITIONAL PROVISIONS AND INTERPRETATION

 

 

 

 

Section 1.1

Definitional Provisions; Interpretation.

 

 

 

 

ARTICLE II CONTRIBUTION AND EXCHANGE OF LLC INTERESTS AND EPE SHARES

 

 

 

 

Section 2.1

Contribution and Exchange of LLC Interests and EPE Shares

 

Section 2.2

Consideration

 

Section 2.3

Escrow; Payment of Cash Consideration

 

Section 2.4

Transfer of LLC Interests and EPE Shares

 

Section 2.5

Payment of the Stock Consideration

 

Section 2.6

Pay-Off of Outstanding Indebtedness

 

 

 

 

ARTICLE III CLOSING AND DELIVERIES

 

 

 

 

Section 3.1

Closing

 

Section 3.2

Deliveries by Seller

 

Section 3.3

Deliveries by Purchasers

 

Section 3.4

Timing and Order of the Closing

 

 

 

 

ARTICLE IV REPRESENTATIONS AND WARRANTIES OF SELLER

 

 

 

 

Section 4.1

Organization

 

Section 4.2

Authority and Authorization; Advice.

 

Section 4.3

Title to Transferred Subsidiaries.

 

Section 4.4

Consents and Approvals

 

Section 4.5

Noncontravention

 

Section 4.6

Sufficiency of Assets

 

Section 4.7

Financial Statements; No Contingent Liabilities

 

Section 4.8

Litigation and Claims

 

Section 4.9

Taxes.

 

Section 4.10

Employee Benefits.

 

Section 4.11

Labor Matters.

 

Section 4.12

No Default; Compliance with Laws

 

Section 4.13

Environmental Matters

 

Section 4.14

Contracts.

 

Section 4.15

Title to Tangible Personal Property

 

Section 4.16

Title to Owned and Leased Real Properties; Absence of Encumbrances.

 

Section 4.17

Absence of Material Adverse Effect; Ordinary Course of Operations and Capital Expenditures

 

Section 4.18

Insurance

 

 

i



 

Section 4.19

Permits.

 

Section 4.20

Intellectual Property.

 

Section 4.21

Indebtedness

 

Section 4.22

Finders Fees

 

Section 4.23

Investment Representations

 

 

 

 

ARTICLE V REPRESENTATIONS AND WARRANTIES OF PURCHASING LLC AND PUBLICO

 

 

 

 

Section 5.1

Organization and Qualification

 

Section 5.2

Corporate Authorization

 

Section 5.3

Capitalization; Purchasing LLCs Shareholding in Publico After the Concurrent Contribution

 

Section 5.4

Consents and Approvals

 

Section 5.5

Noncontravention

 

Section 5.6

Financial Statements; No Contingent Liabilities

 

Section 5.7

Finders Fees

 

Section 5.8

Litigation.

 

Section 5.9

SEC Reports and Financial Statements

 

Section 5.10

Supplied Information

 

Section 5.11

Business of Publico

 

Section 5.12

Absence of Material Adverse Effect

 

Section 5.13

Compliance

 

Section 5.14

Trading in Stock

 

Section 5.15

Investment Representations

 

Section 5.16

Availability of Funds.

 

Section 5.17

Representations and Warranties of Publico Acquisition Agreement

 

Section 5.18

Solvency

 

Section 5.19

Taxes

 

 

 

 

ARTICLE VI COVENANTS

 

 

 

 

Section 6.1

Pre-Closing Covenants of Seller

 

Section 6.2

Certain Other Agreements.

 

Section 6.3

Other Post-Closing Covenants.

 

Section 6.4

Tangible Personal Property

 

Section 6.5

Tax Matters.

 

Section 6.6

No Solicitation or Other Transaction

 

Section 6.7

No Breaches

 

Section 6.8

Audited Financial Statements

 

Section 6.9

Confidentiality

 

 

ii



 

Section 6.10

Termination of Related Party Arrangements; Liquidation of Certain Seller Entities

 

Section 6.11

Board Seat for Beneficiary

 

Section 6.12

[Intentionally omitted]

 

Section 6.13

Discharge of Indebtedness

 

Section 6.14

Ancillary Agreements

 

Section 6.15

Sarbanes-Oxley Advisors

 

Section 6.16

Prohibited Activities

 

Section 6.17

Simultaneous Closing

 

 

 

 

ARTICLE VII CONDITIONS TO CLOSING

 

 

 

 

Section 7.1

Conditions to the Obligations of Purchasers and Seller

 

Section 7.2

Conditions to the Obligations of Purchasers

 

Section 7.3

Conditions to the Obligations of Seller

 

 

 

 

ARTICLE VIII SURVIVAL; INDEMNIFICATION

 

 

 

Section 8.1

Survival

 

Section 8.2

Indemnification by Purchasing LLC and Publico

 

Section 8.3

Indemnification by Seller.

 

Section 8.4

Third-Party Claim Indemnification Procedures

 

Section 8.5

Computation of Losses Subject to Indemnification.