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Share Exchange Agreement

 

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Title:

Share Exchange Agreement

Entities:

Oncure Medical Corp

Date:

2001

Size:

Preview shows 6KB of 24KB total

Price:

$35

ID:

#1596715

 

 

► M&A ► Exchange ► Share Exchange Agreements

 

 

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3

file002.txt
SHARE EXCHANGE AGREEMENT





SHARE EXCHANGE AGREEMENT

THIS SHARE EXCHANGE AGREEMENT (the "AGREEMENT") is entered into
effective as of the 7th day of September 2001 (the "Effective Date"), by and
between ONCURE TECHNOLOGIES CORP., a Florida corporation ("OnCure"), and DVI
FINANCIAL SERVICES INC., a Delaware corporation ("DVI").

RECITALS

WHEREAS, DVI is the beneficial owner of 448,575 shares of common stock,
$0.001 par value per share, of OnCure (the "Common Stock"), 1,000 shares of the
Series B Cumulative Accelerating Redeemable Preferred Stock, $0.001 par value
per share, of OnCure (the "Series B Preferred Stock") and 1,000 shares of the
Series C Cumulative Accelerating Redeemable Preferred Stock, $0.001 par value
per share, of OnCure (the "Series C Preferred Stock");

WHEREAS, the Board of Directors of OnCure and DVI believe that it is in
the best interests of each company and their respective stockholders to
consummate the transaction provided for herein, pursuant to which DVI will
exchange (the "Exchange") all of its Series B Preferred Stock, together with all
accrued and unpaid dividends on the Series B Preferred Stock as of the date
hereof, for an aggregate of 1,337,738 shares of common stock (the "Converted
Series B Common Stock");

WHEREAS, as a condition to the Exchange, OnCure will use all
commercially reasonable efforts to provide for the registration of the shares of
Common Stock owned by DVI on the registration statement filed with the
Securities and Exchange Commission (the "SEC") on Form SB-2, SEC File No.
333-60754 (the "Registration Statement").

AGREEMENT

NOW, THEREFORE, in consideration of the covenants, representations and
warranties set forth herein, and for other good and valuable consideration the
receipt and sufficiency of which is hereby acknowledged, the parties agree as
follows:

ARTICLE I

THE EXCHANGE

1.1 EXCHANGE CONSIDERATION. DVI shall deliver to OnCure stock
certificates representing 1,000 shares of the Series B Preferred Stock
(constituting all of the issued and outstanding shares of the Series B Preferred
Stock), duly endorsed for transfer or accompanied by duly executed stock powers,
free and clear of all Encumbrances (as defined below) upon delivery by OnCure of
certificates representing 1,337,738 shares of Common Stock issued in the name
DVI. 1,190,476 shares of common stock (of the 1,337,738 shares of common stock
being issued hereunder) are being issued in exchange for the Series B Preferred
Stock, which has a liquidation preference of 2.5 million, and 147,262 shares of
common stock are being issued as payment for all accrued and unpaid dividends on
the Series B Preferred Stock as of the date hereof.




ARTICLE II

REPRESENTATIONS AND WARRANTIES OF DVI

DVI represents and warrants to OnCure as follows:

2.1 TITLE. DVI owns beneficially and of record, free and clear of any
Encumbrance the shares of Series B Preferred Stock. As used in this Agreement,
"Encumbrance" shall mean any claim, lien, pledge, option, charge, easement,
security interest, deed of trust, mortgage, encumbrance or other right of third
parties, whether voluntarily incurred or arising by operation of law.

2.2 AUTHORITY. DVI has the corporate power and authority to execute and
deliver this Agreement and to perform its obligations hereunder and to
consummate the transactions contemplated hereby, including to own, hold, sell
and transfer the Series B Preferred Stock.

2.3 ENFORCEABILITY. This Agreement has been duly executed and delivered
by DVI and constitutes the legal, valid and binding agreement and obligation of
DVI enforceable against DVI in accordance with its terms subject to: (i)
judicial principles respecting election of remedies or limiting the availability
of specific performance, injunctive relief, or other equitable remedies; (ii)
bankruptcy, insolvency, reorganization, moratorium or other similar laws now or
hereafter in effect generally relating to or affecting creditors' rights; and
(iii) public policy concerns (including, without limitation, the ability of a
court to refuse to enforce unconscionable covenants, indemnification provisions
or similar provisions).

2.4 NO VIOLATION. The execution and the delivery by DVI of this
Agreement does not and will not (i) conflict with or result in a breach of the
terms, conditions or provisions of, (ii) constitute a default under, (iii)
result in a violation of, or (iv) require any notice, filing, authorization,
consent or approval not heretofore obtained pursuant to, any binding written or
oral agreement or instrument including, without limitation, any charter, bylaw,
trust instrument, indenture or evidence of indebtedness, lease, contract or

 

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