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Title: |
Asset Purchase Agreement |
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Date: |
2003 |
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Size: |
Preview shows 6KB of 98KB total |
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Price: |
$61 |
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ID: |
#1337045 |
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ASSET PURCHASE AGREEMENT
BY AND AMONG
BIG CITY RADIO, INC.,
BIG CITY RADIO-NY, L.L.C.
as Seller,
and
NASSAU BROADCASTING HOLDINGS, INC.
as Purchaser
Dated as of December 30, 2002
<PAGE>
TABLE OF CONTENTS
<TABLE>
<CAPTION>
Page
----
<S> <C>
ARTICLE 1. DEFINITIONS AND REFERENCES................................................... 1
ARTICLE 2. PURCHASE AND SALE............................................................ 2
2.1. Purchase and Sale of Assets.................................................... 2
2.1.1. FCC Licenses....................................................... 2
2.1.2. Leased Transmitter Sites........................................... 2
2.1.3. Transmitter Equipment.............................................. 2
2.1.4. Studio Sites....................................................... 2
2.1.5. Studio Equipment................................................... 2
2.1.7. Certain Intangible Property........................................ 3
2.1.8. Business Records................................................... 3
2.2. Excluded Assets................................................................ 3
2.2.1. Cash............................................................... 3
2.2.2. Accounts Receivables............................................... 3
2.2.3. Deposits and Prepaid Expenses...................................... 3
2.2.4. Intellectual Property.............................................. 3
2.2.5. Certain Books and Records.......................................... 4
2.2.6. Securities......................................................... 4
2.2.7. Insurance.......................................................... 4
2.2.8. Time Sales Agreements.............................................. 4
2.2.9. Pre-Closing Claims................................................. 4
2.2.10. Rights Under this Agreement........................................ 4
2.2.11. Employee Benefit Plans............................................. 4
2.2.12. Name............................................................... 4
2.2.13. Other Excluded Assets.............................................. 4
2.3. Assumed Contracts.............................................................. 5
ARTICLE 3. ESCROW DEPOSIT; PURCHASE PRICE; CLOSING...................................... 5
3.1. Escrow Deposit................................................................. 5
3.2. Purchase Price................................................................. 5
3.3. Time of Closing................................................................ 6
3.4. Closing Procedures............................................................. 6
3.5. Allocation of Purchase Price................................................... 6
3.6. Prorations..................................................................... 7
ARTICLE 4. REPRESENTATIONS AND WARRANTIES OF SELLER..................................... 7
4.1. Organization; Good Standing.................................................... 8
4.2. Due Authorization.............................................................. 8
4.3. Execution and Delivery......................................................... 8
4.4. Governmental Approvals......................................................... 8
4.5. Title to Personal Property..................................................... 9
4.6. Transmitter and Studio Sites................................................... 9
</TABLE>
<PAGE>
<TABLE>
<S> <C>
4.7. Tangible Personal Property................................................ 9
4.8. FCC Licenses.............................................................. 9
4.9. Reports................................................................... 10
4.10. Taxes..................................................................... 10
4.11. Environmental Matters..................................................... 11
4.12. Litigation................................................................ 11
4.13. Contracts and Agreements.................................................. 12
4.14. Business Records.......................................................... 12
4.15. Third Party Consents...................................................... 12
4.16. Finders and Brokers....................................................... 12
4.17. Disclaimer of Warranties; Limitations of Warranties....................... 12
ARTICLE 5. REPRESENTATIONS AND WARRANTIES OF PURCHASER........................... 12
5.1. Organization and Good Standing............................................ 13
5.2. Due Authorization......................................................... 13
5.3. Execution and Delivery.................................................... 13
5.4. Consents.................................................................. 13
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