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Title: |
Purchase Agreement |
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Entities: |
Banc of America Securities LLC; FAA Auto Factory Inc; J.P. Morgan Securities Inc.; Sonic Automotive, Inc.; U.S. Bank, NA; Fried, Frank, Harris, Shriver & Jacobson |
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Date: |
2003 |
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Size: |
121KB total |
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Price: |
$65 |
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ID: |
#1784727 |
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Start of Preview |
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SONIC AUTOMOTIVE, INC. (a Delaware corporation)
The Guarantors Listed on Schedule A
$75,000,000
8 5/8% Senior Subordinated Notes due 2013
PURCHASE AGREEMENT
Dated: November 12, 2003
TABLE OF CONTENTS
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PURCHASE AGREEMENT |
2 | |||||||
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SECTION 1. Representations and Warranties |
3 | |||||||
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(a) |
Representations and Warranties by the Company and the Guarantors |
3 | ||||||
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(i) |
Similar Offerings |
3 | ||||||
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(ii) |
Offering Memorandum |
4 | ||||||
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(iii) |
Incorporated Documents |
4 | ||||||
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(iv) |
Independent Accountants |
4 | ||||||
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(v) |
Financial Statements |
4 | ||||||
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(vi) |
No Material Adverse Change in Business |
4 | ||||||
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(vii) |
Good Standing of the Company |
5 | ||||||
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(viii) |
Subsidiaries |
5 | ||||||
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(ix) |
Capitalization |
6 | ||||||
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(x) |
Authorization of Agreements |
6 | ||||||
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(xi) |
Authorization of the Indenture |
6 | ||||||
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(xii) |
Authorization of the Securities, the Guarantees and the Exchange Securities |
6 | ||||||
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(xiii) |
Description of the Securities, the Guarantees, the Indenture, the Registration Rights Agreement and the Exchange Securities | 7 | ||||||
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(xiv) |
Absence of Defaults and Conflicts |
7 | ||||||
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(xv) |
Absence of Labor Disputes |
8 | ||||||
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(xvi) |
Absence of Proceedings |
8 | ||||||
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(xvii) |
Possession of Intellectual Property |
8 | ||||||
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(xviii) |
Absence of Further Requirements |
9 | ||||||
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(xix) |
Possession of Licenses and Permits |
9 | ||||||
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(xx) |
Title to Property |
10 | ||||||
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(xxi) |
Tax Returns |
10 | ||||||
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(xxii) |
Insurance |
10 | ||||||
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(xxiii) |
Solvency |
10 | ||||||
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(xxiv) |
Stabilization or Manipulation |
11 | ||||||
- i -
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(xxv) |
Related Party Transactions |
11 | ||||||
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(xxvi) |
Suppliers |
11 | ||||||
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(xxvii) |
Environmental Laws |
11 | ||||||
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(xxviii) |
Registration Rights |
12 | ||||||
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(xxix) |
Accounting Controls |
12 | ||||||
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(xxx) |
Investment Company Act |
12 | ||||||
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(xxxi) |
Rule 144A Eligibility |
12 | ||||||
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(xxxii) |
No General Solicitation |
13 | ||||||
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(xxxiii) |
No Registration Required |
13 | ||||||
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(xxxiv) |
PORTAL |
13 | ||||||
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(xxxv) |
Fungibility |
13 | ||||||
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(xxxvi) |
Franchise Agreements |
13 | ||||||
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(xxxvii) |
Liquidity and Off Balance Sheet Arrangements |
13 | ||||||
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(xxxviii) |
Disclosure Controls |
13 | ||||||
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(b) |
Officers Certificates |
14 | ||||||
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SECTION 2. Sale and Delivery to Initial Purchasers; Closing |
14 | |||||||
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(a) |
Securities and Guarantees |
14 | ||||||
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(b) |
Payment |
14 | ||||||
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(c) |
Qualified Institutional Buyer |
15 | ||||||
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(d) |
Denominations; Registration |
15 | ||||||
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SECTION 3. Covenants of the Company and the Guarantors |
15 | |||||||
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(a) |
Offering Memorandum |
15 | ||||||
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(b) |
Notice and Effect of Material Events |
15 | ||||||
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(c) |
Amendment to Offering Memorandum and Supplements |
15 | ||||||
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(d) |
Qualification of Securities and Guarantees for Offer and Sale |
16 | ||||||
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(e) |
Exchange Offer |
16 | ||||||
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(f) |
Integration |
16 | ||||||
- ii -
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(g) |
No Directed Selling Effort or General Solicitation |
16 | ||||
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(h) |
Rating of Securities |
17 | ||||
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(i) |
Rule 144A Information |
17 | ||||
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(j) |
Restriction on Resales |
17 | ||||
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(k) |
Use of Proceeds |
17 | ||||
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(l) |
Restriction on Sale of Securities |
17 | ||||
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(m) |
DTC Clearance |
17 | ||||
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(n) |
Legends |
18 | ||||
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(o) |
Interim Financial Statements |
18 | ||||
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(p) |
Periodic Reports |
18 | ||||
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SECTION 4. Payment of Expenses |
18 | |||||
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(a) |
Expenses |
18 | ||||
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(b) |
Termination of Agreement |
19 | ||||
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SECTION 5. Conditions of Initial Purchasers Obligations |
19 | |||||
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(a) |
Opinion of Counsel for the Company and the Guarantors |
19 | ||||
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(b) |
Opinion of Counsel for the Initial Purchasers |
19 | ||||
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(c) |
Officers Certificate |
19 | ||||
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(d) |
Accountants Letters and Consents |
20 | ||||
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(e) |
Maintenance of Rating |
20 | ||||
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(f) |
PORTAL |
20 | ||||
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(g) |
Chief Financial Officers Certificate |
20 | ||||
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(h) |
Registration Rights Agreement |
20 | ||||
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(i) |
Manufacturers Consents |
20 | ||||
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(j) |
Lenders Consents |
21 | ||||
- iii -
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(k) |
Additional Documents |
21 | ||||
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(l) |
Termination of Agreement |
21 | ||||
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SECTION 6. Indemnification |
21 | |||||
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(a) |
Indemnification of Initial Purchasers |
21 | ||||
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(b) |
Indemnification of Company, Guarantors, and Directors |
22 | ||||
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(c) |
Actions against Parties; Notification |
22 | ||||
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(d) |
Settlement without Consent if Failure to Reimburse |
23 | ||||
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SECTION 7. Contribution |
23 | |||||
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SECTION 8. Representations, Warranties and Agreements to Survive Delivery |
24 | |||||
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SECTION 9. Termination of Agreement |
25 | |||||
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(a) |
Termination; General |
25 | ||||
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(b) |
Liabilities |
25 | ||||
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SECTION 10. Default by One or More of the Initial Purchasers |
25 | |||||
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SECTION 11. Tax Disclosure |
26 | |||||
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SECTION 12. Notices |
26 | |||||
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SECTION 13. Parties |
26 | |||||
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SECTION 14. Governing Law and Time |
27 | |||||
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SECTION 15 . General Provisions |
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End of Preview |
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