Document Preview

Asset Purchase Agreement

Click "Add to Cart" button to purchase document.
Documents are emailed immediately after purchase.
You can also browse documents by title, category, or company... or click here for help finding documents.

Title:

Asset Purchase Agreement

Entities:

Flotek Industries, Inc.

Date:

2003

Size:

Preview shows 7KB of 25KB total

Price:

$37

ID:

#228119

► Purchase & Sale ► Purchase ► Asset Purchase Agreements
► Commodities ► Chemical Manufacturing

Start of Preview

ASSET PURCHASE AGREEMENT

THIS ASSET PURCHASE AGREEMENT (Purchase Agreement) is made and entered into as of the 1^st day of August, 2003, by and between Special Equipment Manufacturing, Inc. (Purchaser), and Equipment Specialties, Inc. (Seller) with reference to the following circumstances:

A. Seller has been engaged in the manufacturing of certain equipment used in the oil and gas well completion industry (the Business) and the products manufactured by Seller generally enjoy a good reputation within the oil and gas well completion industry;

B. Purchaser desires to purchase from Seller, and Seller desires to sell to Purchaser, assets of Seller used in connection with the operation of Sellers Business; and

C. Purchaser and Seller desire to effect such acquisition upon the terms and subject to the conditions contained herein.

NOW, THEREFORE, for good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, Purchaser and Seller hereby agree as follows:

1. Purchase and Sale of Assets.

1.01 Agreement to Sell and Purchase. On the terms and subject to the conditions set forth herein, Seller shall sell, transfer, convey, assign and deliver to Purchaser, and Purchaser shall purchase, at the Closing (as hereinafter defined), the following assets of Seller (collectively, Purchased Assets):

(a) Fixed Assets. Fixed assets as listed in Appendix A.

(b) Work In Process. The work in Process defined in Appendix B, calculated as costs-deposits-assumed payables.

(c) Warranties. Buyer will assume warranties on Work in Process as listed in Appendix C. Seller will pay for authorized warranty work as outlined in Appendix D.

(d) Work Force. Selected members of Sellers assembled work force in place (the Work Force) will be assumed by the buyer on August 1, 2003, at the pay rates outlined in Appendix E;

(e) Intellectual Property. Seller will execute an exclusive royalty agreement to sell the buyers intellectual property as outlined in Appendix F.

(f) Sub-lease. Buyer will execute the sublease agreement with Seller of property leased by Equipment Specialties as outlined in Appendix G.

(g) Business Records. All of Sellers business books and records, operating systems and other information base (the Business Records);

End of Preview

Home Intelligence Services Subscriptions News About Us