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Stock Purchase Agreement

 

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Title:

Stock Purchase Agreement

Entities:

ABC Funding, Inc

Date:

2006

Size:

Preview shows 5KB of 78KB total

Price:

$37

ID:

#1625108

 

 

► Purchase & Sale ► Purchase ► Stock Purchase Agreements

 

 

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                       [Form of Stock Purchase Agreement]


STOCK PURCHASE AGREEMENT

This STOCK PURCHASE AGREEMENT (this "Agreement"), is entered as of April
3, 2006, by and among Energy Venture, Inc., a Delaware corporation
("Purchaser"), ABC Funding, Inc., a Nevada corporation (the "Company"), Harold
Barson (the "Primary Seller") and the Sellers (as such term is defined below).

RECITALS

A. The Primary Seller owns nine million one hundred sixty thousand
(9,160,000) shares of common stock of the Company (the "Common Stock"); and

B. The Purchaser desires to purchase nine million six hundred forty-eight
thousand (9,648,000) shares of Common Stock from the Primary Seller and certain
other shareholders of the Company (the "Other Sellers," collectively with the
Primary Seller, the "Sellers"), on the terms and conditions set forth herein.

NOW, THEREFORE, in consideration of the mutual covenants and agreements
set forth in this Agreement, and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto
agree as follows:

ARTICLE I

DEFINITIONS

1.1 Definitions. (a) As used in this Agreement, the following defined
terms shall have the meanings indicated below:

"Affiliate" means, as applied to any person, any other person directly or
indirectly controlling, controlled by, or under common control with, that
person. For purposes of this definition control (including with correlative
meanings, the terms "controlling", "controlled by", and "under common control
with") as applied to any person, means the possession, directly or indirectly,
of the power to direct or cause the direction of the management or policies of
that person or entity, whether through the ownership of voting securities, by
contract, or otherwise.

"Assets and Properties" of any person means all assets and properties of
every kind, nature, character and description (whether real, personal or mixed,
whether tangible or intangible, whether absolute, accrued, contingent, fixed or
otherwise and wherever situated), including, without limitation, the goodwill
related to any of the foregoing, operated, owned or leased by or in the
possession of such person.


-1-
<PAGE>

"Books and Records" of any person means all files, documents, instruments,
papers, books and records relating to the business, operations, condition of
(financial or other), results of operations and assets and properties of such
person, including, without limitation, financial statements, Tax Returns and
related work papers and letters from accountants, budgets, pricing guidelines,
ledgers, journals, deeds, title policies, minute books, stock certificates and
books, stock transfer ledgers, Contracts, licenses, customer and subscription
lists, computer files and programs, retrieval programs, editorial files,
operating data and plans and environmental studies and plans

"Code" means the Internal Revenue Code of 1986, as amended.

"Contract" means any agreement, lease, evidence of indebtedness, mortgage,
indenture, security agreement or other contract (whether written or oral).

"Environmental Law" means any and all federal, state, local, provincial
and foreign, civil and criminal laws, statutes, ordinances, orders, common law,
codes, rules, regulations, Environmental Permits, policies, guidance documents,
judgments, decrees, injunctions, or agreements with any Governmental or
Regulatory Authority, relating to the protection of health and the Environment,
worker health and safety, and/or governing the handling, use, generation,
treatment, storage, transportation, disposal, manufacture, distribution,
formulation, packaging, labeling, or Release of Hazardous Materials, whether now
existing or subsequently amended or enacted, including but not limited to: the
Clean Air Act, 42 U.S.C. 7401 et seq.; the Comprehensive Environmental Response,
Compensation and Liability Act of 1980, 42 U.S.C. 9601 et seq.; the Federal

 

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