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Title: |
Asset Purchase Agreement |
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Entities: |
Lifetime Brands, Inc; U.S. Bank, NA; Troutman Sanders; Weil, Gotshal & Manges LLP |
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Date: |
2006 |
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Size: |
Preview shows 6KB of 329KB total |
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Price: |
$86 |
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ID: |
#1677308 |
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Start of Preview |
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ASSET PURCHASE AGREEMENT
AMONG
SYRATECH CORPORATION,
WALLACE INTERNATIONAL de P.R., INC.,
CHI INTERNATIONAL, INC.
and
SYRATECH (H.K.) LIMITED
as the Sellers
AND
SYRATECH ACQUISITION CORPORATION
as the Purchaser
and
LIFETIME BRANDS, INC.
Dated as of March 8, 2006
<PAGE>
TABLE OF CONTENTS
PAGE
ARTICLE I DEFINITIONS.........................................................1
1.1 Certain Definitions..........................................1
1.2 Terms Defined Elsewhere in this Agreement...................10
1.3 Other Definitional and Interpretive Matters.................12
1.4 Interpretation..............................................12
ARTICLE II PURCHASE AND SALE OF ASSETS.................................13
2.1 Purchase and Sale...........................................13
2.2 Excluded Assets.............................................14
2.3 Nonassignable Assets........................................14
2.4 Assumption of Assumed Liabilities...........................15
2.5 Excluded Liabilities........................................18
2.6 Transition Services.........................................19
ARTICLE III PURCHASE PRICE AND PURCHASE PRICE ADJUSTMENT................19
3.1 Purchase Price..............................................19
3.2 Allocation of Purchase Price; Withholding Taxes.............21
3.3 Adjustment of Purchase Price................................21
3.4 Preliminary Working Capital Estimate;
Pre-Closing Certificate...................................21
3.5 Determination of Closing Net Working Capital................22
3.6 Payment of Purchase Price Adjustment........................25
3.7 Inventory Count.............................................25
3.8 Escrow......................................................25
ARTICLE IV CLOSING AND TERMINATION.....................................28
4.1 Closing Date................................................28
4.2 Deliveries by the Sellers...................................28
4.3 Deliveries by the Purchaser.................................29
4.4 Termination of Agreement....................................30
4.5 Termination Fee.............................................31
4.6 Termination Date; Extension.................................32
ARTICLE V REPRESENTATIONS AND WARRANTIES OF THE SELLERS...............32
5.1 Organization and Good Standing..............................32
5.2 Subsidiaries................................................33
5.3 Authorization of Agreement..................................33
5.4 Conflicts; Permits; Consents of Third Parties...............34
5.5 Capitalization..............................................34
5.6 Financial Statements, Etc...................................35
5.7 No Undisclosed Liabilities..................................36
5.8 Accounts Receivable.........................................36
5.9 Inventory...................................................37
5.10 Absence of Certain Changes or Events........................37
5.11 Taxes.......................................................39
i
<PAGE>
TABLE OF CONTENTS
(CONTINUED)
PAGE
5.12 Real Property...............................................40
5.13 Tangible Personal Property..................................42
5.14 Intellectual Property.......................................42
5.15 Material Contracts..........................................43
5.16 Acquired Assets.............................................45
5.17 Employee Benefits...........................................45
5.18 Employees...................................................48
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