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Title: |
Acquisition Agreement |
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Date: |
2002 |
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Size: |
Preview shows 5KB of 152KB total |
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Price: |
$65 |
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ID: |
#1504226 |
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ACQUISITION AGREEMENT
FOR
MTL PETROLINK CORP.
BY AND AMONG
MARINE TRANSPORT CORPORATION, AS SELLER
AMERICAN EAGLE TANKERS INC. LIMITED, AS BUYER,
AND
CROWLEY MARITIME CORPORATION, AS GUARANTOR
APRIL 29, 2002
<PAGE>
TABLE OF CONTENTS
<TABLE>
<CAPTION>
PAGE
<S> <C>
ARTICLE 1 DEFINITIONS..................................................................... 1
Section 1.1 Capitalized Terms ............................................. 1
Section 1.2 Knowledge ..................................................... 5
ARTICLE 2 PURCHASE AND SALE OF SHARES .................................................... 5
ARTICLE 3 PURCHASE PRICE AND PAYMENT ..................................................... 5
Section 3.1 Purchase Price ................................................ 5
Section 3.2 Payment ....................................................... 5
ARTICLE 4 CLOSING ........................................................................ 6
Section 4.1 Date and Place of Closing ..................................... 6
Section 4.2 Simultaneous Events ........................................... 6
Section 4.3 Seller's Deliveries ........................................... 6
Section 4.4 Buyer's Deliveries ............................................ 6
Section 4.5 Retirement of Intercompany Indebtedness and Release of Liens .. 7
Section 4.6 Mutual Release ................................................ 7
ARTICLE 5 CONDITIONS TO OBLIGATIONS OF BUYER ............................................. 7
Section 5.1 Deliveries .................................................... 7
Section 5.2 Consents ...................................................... 8
Section 5.3 No Adverse Proceedings Pending ................................ 8
Section 5.4 Mutual Release ................................................ 8
Section 5.5 Employment Agreements ......................................... 8
Section 5.6 MarAd Approval ................................................ 8
Section 5.7 Short Term Charters ........................................... 8
ARTICLE 6 CONDITIONS TO OBLIGATIONS OF SELLER ............................................ 8
Section 6.1 Deliveries .................................................... 8
Section 6.2 Consents ...................................................... 8
Section 6.3 No Adverse Proceedings Pending ................................ 9
Section 6.4 MarAd Approval ................................................ 9
ARTICLE 7 REPRESENTATIONS AND WARRANTIES OF SELLER ....................................... 9
Section 7.1 Ownership of Petrolink ........................................ 9
Section 7.2 Due Issuance of Shares ........................................ 9
Section 7.3 Capitalization of Petrolink ................................... 9
Section 7.4 Organization of Petrolink ..................................... 9
Section 7.5 Authorization ................................................. 10
Section 7.6 Financial Statements .......................................... 11
Section 7.7 Taxes ......................................................... 11
Section 7.8 Absence of Undisclosed Liabilities ............................ 12
Section 7.9 Litigation .................................................... 12
Section 7.10 Insurance ..................................................... 13
</TABLE>
-i-
<PAGE>
<TABLE>
<S> <C>
Section 7.11 Equipment ..................................................... 13
Section 7.12 Conduct of Business; Absence of Certain Changes ............... 13
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