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Title: |
Asset Purchase Agreement |
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Entities: |
Lyon Investments B V; Paul, Weiss, Rifkind, Wharton & Garrison |
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Date: |
2001 |
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Size: |
Preview shows 11KB of 134KB total |
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Price: |
$56 |
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ID: |
#1635309 |
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ASSET PURCHASE AGREEMENT
Between
THE DERBY CYCLE CORPORATION
and
Cycle Bid Co.
-----------------------------
Dated as of August 20, 2001
================================================================================
<PAGE>
TABLE OF CONTENTS
-----------------
SECTION 1. DEFINITIONS................................................1
SECTION 2. PURCHASE AND SALE OF THE PURCHASED PROPERTY...............13
SECTION 2.1. Transfer of Assets.........................13
SECTION 2.2. Sale at Closing Date.......................13
SECTION 2.3. Assumption of Liabilities..................13
SECTION 2.4. Ongoing and Transition Services............14
SECTION 3. PURCHASE PRICE............................................14
SECTION 3.1. Purchase Price.............................14
SECTION 3.2. Deposit....................................14
SECTION 3.3. Payment of Closing Purchase Price..........14
SECTION 3.4. Payment of Cash Collateral Amount..........15
SECTION 3.5. Contingent Purchase Price(a)...............15
SECTION 4. CLOSING...................................................16
SECTION 5. REPRESENTATIONS AND WARRANTIES OF THE SELLER..............16
SECTION 5.1. Corporate Organization.....................16
SECTION 5.2. Qualification to Do Business...............16
SECTION 5.2. Authorization and Validity of Agreement....17
SECTION 5.4. No Conflict or Violation...................17
SECTION 5.5. Consents and Approvals.....................18
SECTION 5.6. Compliance with Law........................18
SECTION 5.7. Litigation.................................18
SECTION 5.8. Labor Relations............................18
SECTION 5.9. Employee Benefits..........................19
SECTION 5.10. Real Properties............................19
SECTION 5.11. Title, Ownership and Related Matters.......19
SECTION 5.12. Tax Matters................................19
SECTION 5.13. Environmental Matters......................19
SECTION 5.14. Absence of Certain Changes.................20
SECTION 5.15. Absence of Undisclosed Liabilities.........20
SECTION 5.16. Intellectual Property......................21
SECTION 5.17. Material Contracts.........................21
SECTION 6. REPRESENTATIONS AND WARRANTIES OF THE BUYER...............21
SECTION 6.1. Corporate Organization.....................22
SECTION 6.2. Qualification to Do Business...............22
SECTION 6.3. Authorization and Validity of Agreement....22
(i)
<PAGE>
SECTION 6.4. No Conflict or Violation...................22
SECTION 6.5. Consents and Approvals.....................22
SECTION 6.6. Adequate Assurances Regarding Assumed
Executory Contracts........................22
SECTION 6.7. Investigation by the Buyer.................23
SECTION 6.8. Funding....................................23
SECTION 7. COVENANTS OF THE SELLER...................................23
SECTION 7.1. Conduct of Business Before Closing Date....23
SECTION 7.2. Consents and Approvals.....................24
SECTION 7.3. Access to Properties and Records;
Confidentiality............................24
SECTION 7.4. Further Assurances.........................24
SECTION 7.5. Reasonable Efforts.........................24
SECTION 7.6. Assignment of Assumed Executory Contracts
and Warranties.............................25
SECTION 7.7. Cure of Defaults...........................25
SECTION 8. COVENANTS OF THE BUYER....................................25
SECTION 8.1. Actions Before Closing Date................25
SECTION 8.2. Consents and Approvals.....................25
SECTION 8.3. Adequate Assurances Regarding Assumed
Executory Contracts........................25
SECTION 8.4. Performance under Assumed Executory
Contracts..................................26
SECTION 8.5. Books and Records of the Buyer;
Cooperation................................26
SECTION 8.6. Reorganizations............................26
SECTION 9. EMPLOYEES AND EMPLOYEE PLANS..............................26
SECTION 9.1. Offer of Employment........................26
SECTION 9.2. Employee Welfare Benefit Plans.............27
SECTION 9.3. Rights.....................................27
SECTION 10. TAXES.....................................................28
SECTION 10.1. Taxes Related to Purchase of Assets;
Tax Cap....................................28
SECTION 10.2. Cooperation on Tax Matters.................28
SECTION 10.3. Allocation of Purchase Price and Purchase
Price Allocation Forms.....................29
SECTION 10.4. Structure..................................29
SECTION 11. CONDITIONS PRECEDENT TO PERFORMANCE BY THE SELLER.........29
SECTION 11.1. Representations and Warranties of the
Buyer......................................29
SECTION 11.2. Performance of the Obligations of the
Buyer......................................29
SECTION 11.3. Consents and Approvals; HSR Act............30
SECTION 11.4. No Violation of Orders.....................30
SECTION 11.5. Entry of the Sale Order....................30
SECTION 11.6. Transition Services Agreement..............30
SECTION 11.7. No Additional Material Tax Liability;
Payables and Receivables...................30
(ii)
<PAGE>
SECTION 11.8. Resale Certificates. .....................30
SECTION 11.9. Accepted Affiliate Payables. .............30
SECTION 12. CONDITIONS PRECEDENT TO THE PERFORMANCE BY THE BUYER......31
SECTION 12.1. Representations and Warranties of the
Seller.....................................31
SECTION 12.2. Performance of the Obligations of the
Seller.....................................31
SECTION 12.3. Consents and Approvals; HSR Act............31
SECTION 12.4. No Violation of Orders.....................31
SECTION 12.5. Entry of the Bidding Procedures Order......31
SECTION 12.6. Entry of the Sale Order....................32
SECTION 12.7. Cure of Defaults...........................32
SECTION 12.8. Material Adverse Effect....................32
SECTION 12.9. Transition Services Agreement..............32
SECTION 12.10. No Additional Material Tax Liability;
Payables and Receivables...................32
SECTION 12.11. Accepted Affiliate Receivables.............32
SECTION 13. TERMINATION...............................................32
SECTION 13.1. Conditions of Termination..................32
SECTION 13.2. Effect of Termination; Remedies............33
SECTION 14. BIDDING PROCEDURES........................................34
SECTION 14.1. Other Bids; Fees...........................34
SECTION 15. MISCELLANEOUS.............................................34
SECTION 15.1. Successors and Assigns.....................34
SECTION 15.2. Governing Law; Jurisdiction................35
SECTION 15.3. Expenses...................................35
SECTION 15.4. Broker's and Finder's Fees.................35
SECTION 15.5. Notice of Bankruptcy Proceedings...........35
SECTION 15.6. Severability...............................35
SECTION 15.7. Notices....................................36
SECTION 15.8. Amendments; Waivers........................37
SECTION 15.9. Public Announcements.......................37
SECTION 15.10. Entire Agreement...........................37
SECTION 15.11. Parties in Interest........................38
SECTION 15.12. Commercially Reasonable Efforts............38
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