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Title: |
Asset Purchase Agreement |
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Entities: |
Air Products & Chemicals, Inc.; Celanese AG; Paper, Allied-Industrial, Chemical & Energy Workers International Union; Goldman, Sachs & Co. |
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Date: |
2001 |
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Size: |
Preview shows 9KB of 136KB total |
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Price: |
$70 |
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ID: |
#211175 |
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ASSET PURCHASE AGREEMENT
Dated as of September 4, 2000
Among
AIR PRODUCTS AND CHEMICALS, INC.,
AIR PRODUCTS, L.P.
and
CELANESE LTD.,
CELANESE AMERICAS CORPORATION
and
CNA HOLDINGS, INC.
{PAGE} 2
TABLE OF CONTENTS
{TABLE}
{CAPTION}
Page
{S} {C} {C}
1. Definitions........................................................ 1
2. Transfer of Purchased Assets; Assumption of Liabilities............ 10
3. Purchase Price; Adjustment......................................... 11
4. Closing............................................................ 14
5. Representations, Warranties and Agreements Regarding Sellers....... 14
6. Representations, Warranties and Agreements Regarding Purchaser..... 27
7. Further Covenants.................................................. 29
8. Conditions Precedent to Obligations of the Purchaser............... 44
9. Conditions Precedent to Obligations of the Sellers................. 46
10. Employees.......................................................... 48
11. Brokerage.......................................................... 50
12. Expenses........................................................... 51
13. Taxes.............................................................. 51
14. Survival of Representations; Indemnification....................... 52
15. Termination of Agreement........................................... 65
16. Bulk Sales Law..................................................... 66
{/TABLE}
{PAGE} 3
TABLE OF CONTENTS
{TABLE}
{S} {C} {C}
17. Public Announcements............................................... 66
18. Notices............................................................ 66
19. Extensions and Waivers............................................. 67
20. Entire Agreement................................................... 67
21. Governing Law...................................................... 68
22. Headings........................................................... 68
23. Transferability.................................................... 68
24. Knowledge of Sellers............................................... 69
25. Counterparts....................................................... 69
26. Severability....................................................... 69
27. CAC/CNA............................................................ 70
{/TABLE}
Appendix
Schedules
Exhibits
{PAGE} 4
List of Schedules
{TABLE}
{CAPTION}
Schedule Description
-------- -----------
{S} {C}
1.1 Assumed Liabilities
1.2 Employees in PVA Business
1.3 Excluded Assets
1.4 Permitted Liens
1.5 Fixed Assets
3.6 Allocation of Purchase Price
5.2 Authority
5.4 Governmental Approvals
5.5 Operating Condition of Assets
5.6 Employee Benefit Plans
5.7 Contracts and Leases
5.8 Patents, Copyrights and Trademarks
5.9 Litigation and Proceedings
5.10 Environmental
5.11 Compliance with Laws
5.12 Material Adverse Change
5.13 Conduct of PVA Business
5.14 Permits
7.1.2 Transition Services
7.11 Segregation of Plants
8.6 Consents
{/TABLE}
{PAGE} 5
{TABLE}
{S} {C}
24 Knowledge of Sellers
{/TABLE}
{PAGE} 6
List of Exhibits
{TABLE}
{CAPTION}
Exhibit Description
------- -----------
{S} {C}
A Financial Documents
B Ground Leases
C Technology License
D Long-term Utilities Supply Contract
E Cogeneration Utilities Agreement
{/TABLE}
{PAGE} 7
ASSET PURCHASE AGREEMENT, dated as of September 4, 2000 (the
"Agreement"), among AIR PRODUCTS AND CHEMICALS, INC., a Delaware corporation
("Air Products"), AIR PRODUCTS, L.P., a Delaware limited partnership (together
with Air Products, referred to herein as "Sellers"), and CELANESE LTD., a Texas
limited partnership (the "Purchaser"), Celanese Americas Corporation, a Delaware
corporation ("CAC") and CNA Holdings, Inc., a Delaware corporation ("CNA").
WHEREAS, the Purchaser desires to acquire from the Sellers, and the
Sellers desire to sell to the Purchaser, the Purchased Assets (as hereinafter
defined), upon the terms and conditions hereinafter set forth.
NOW, THEREFORE, in consideration of the premises and the respective
agreements hereinafter set forth, and intending to be legally bound hereby, the
parties hereto agree as follows:
1. DEFINITIONS
The terms defined in this Article 1 shall, for the purposes of this
Agreement, have the following meanings:
"ACCOUNTS RECEIVABLE" means the accounts and notes receivable of
Sellers pertaining to the PVA Business.
"ADJUSTMENT STATEMENT" means the statement adjusting the Purchase Price
referred to in subsection 3.2.2 hereof.
-1-
{PAGE} 8
"AFFILIATE" of a person, firm or corporation means a person, firm
(including, without limitation, a partnership, association, limited liability
company or other entity) or corporation that directly, or indirectly through one
or more intermediaries, controls or is controlled by or is under common control
with such person, firm or corporation. For purposes of this definition, the term
"controls," "is controlled by," or "is under common control with" shall mean the
possession, direct or indirect, of the power to direct or cause the direction of
the management and policies of a person or entity, whether through the ownership
of voting securities, by contract or otherwise.
"ASSUMED LIABILITIES" means the liabilities of the Sellers pertaining
to the PVA Business listed in Schedule 1.1 hereto, as the same shall exist on
the Closing Date.
"CLAIM NOTICE" means the notice defined in Section 14.8
"CLOSING" means the closing defined in Article 4.
"CLOSING DATE" means the time and date of closing as provided in
Article 4 hereof.
"CODE" shall mean the Internal Revenue Code of 1986, as amended, and
any rules and regulations promulgated thereunder.
"CURRENT ASSETS" shall mean the Inventory and Accounts Receivable.
"EMPLOYEE" means those employees of Seller employed in or applicable
position titles for the PVA Business and listed on Schedule 1.2.
"EMPLOYEE BENEFIT AND COMPENSATION PLANS" shall have the meaning set
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