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Stock Purchase Agreement

 

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Title:

Stock Purchase Agreement

Entities:

Hawk Corp.; Keybank NA

Date:

2006

Size:

Preview shows 12KB of 188KB total

Price:

$51

ID:

#2680665

 

 

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STOCK PURCHASE AGREEMENT

by and between

PCG HOLDINGS GROUP INC.,

AS BUYER,

and

Hawk Corporation,

AS SELLING SHAREholder

DATED AS OF

DECEMBER 21, 2006

TABLE OF CONTENTS

1. DEFINITIONS *

1.1. Definitions *

1.2. Interpretive Provisions *

2. SALE AND TRANSFER OF STOCK; CLOSING *

2.1. Purchase and Sale of Stock *

2.2. Purchase Price *

2.3. Purchase Price Adjustments *

2.4. Closing *

2.5. Closing Deliveries *

2.6. Transfer Taxes *

2.7. Purchase Price Allocation *

3. REPRESENTATIONS AND WARRANTIES OF SELLING SHAREHOLDER *

3.1. Organization and Good Standing *

3.2. Authority *

3.3. No Conflict *

3.4. Capitalization *

3.5. Financial Statements; Budget *

3.6. Title to Properties; Encumbrances *

3.7. Taxes *

3.8. Employee Benefits *

3.9. Labor Compliance *

3.10. Compliance with Legal Requirements *

3.11. Governmental Authorizations *

3.12. Legal Proceedings; Orders *

3.13. Environmental Matters *

3.14. Material Contracts *

3.15. Absence of Certain Changes or Events *

3.16. Books and Records *

3.17. Real Property *

3.18. Intellectual Property *

3.19. No Brokers or Finders *

3.20. Absence of Undisclosed Liability *

3.21. Insurance *

3.22. Inventory *

3.23. Accounts Receivable *

3.24. Sufficiency of Assets *

3.25. Product Warranty, Liability and Recall *

3.26. Suppliers and Customers *

3.27. Affiliate Transactions *

3.28. Disclosure *

3.29. No Other Representations or Warranties *

4. REPRESENTATIONS AND WARRANTIES OF BUYER *

4.1. Organization and Good Standing *

4.2. Authority *

4.3. No Conflict *

4.4. Investment Intent *

4.5. Certain Proceedings *

4.6. Financing *

4.7. Distribution of Net Cash *

4.8. No Brokers or Finders *

4.9. Condition of the Business *

4.10. Investigation *

5. COVENANTS OF SELLING SHAREHOLDER PRIOR TO CLOSING DATE *

5.1. Access and Investigation *

5.2. Operation of the Businesses of the Acquired Company *

5.3. Required Approvals *

5.4. Notifications *

5.5. Best Efforts *

5.6. Interim Financial Statements *

5.7. Assistance and Cooperation with Financing *

5.8. Title Insurance and Surveys *

5.9. Termination of Affiliate Transactions *

5.10. Exclusivity *

5.11. Consents *

5.12. Release and Waiver by Selling Shareholder *

5.13. Environmental Permits *

6. COVENANTS OF BUYER PRIOR TO CLOSING DATE *

6.1. Required Approvals *

6.2. Notifications *

6.3. Best Efforts *

6.4. Financing *

6.5. Indemnification, Exculpation and Insurance *

6.6. Removal of Guarantees and Letters of Credit *

7. CONDITIONS PRECEDENT TO BUYER'S OBLIGATION TO CLOSE *

7.1. Accuracy of Representations *

7.2. Selling Shareholder's Performance *

7.3. Required Consents *

7.4. No Claim Regarding Stock Ownership or Sale Proceeds *

7.5. Financing *

7.6. Lack of Material Adverse Effect *

7.7. Termination of Affiliate Transactions *

7.8. No Prohibition or Litigation *

7.9. Payment, Satisfaction and Discharge of Funded Debt *

7.10. Transition Agreements *

7.11. Letter Agreement Evidencing Supply Arrangement *

7.12. Assignment of Certain Intellectual Property *

7.13. Noncompetition Agreement *

8. CONDITIONS PRECEDENT TO SELLING SHAREHOLDER'S OBLIGATION TO CLOSE *

8.1. Accuracy of Representations *

8.2. Buyer's Performance *

8.3. Required Consents *

8.4. No Prohibition or Litigation *

8.5. Management Transition Agreement *

8.6. Noncompetition Agreement *

9. ADDITIONAL COVENANTS *

9.1. Tax Matters *

9.2. Records Retention *

9.3. Use of Name and Marks *

9.4. Employment and Employee Benefits *

9.5. Mail *

9.6. Insurance Matters *

9.7. Workers' Compensation Matters *

10. INDEMNIFICATION *

10.1. Survival *

10.2. Indemnification and Payment of Damages by Selling Shareholder *

10.3. Indemnification and Payment of Damages by Buyer *

10.4. Damages *

10.5. Limitations on Indemnification *

10.6. Effect of Knowledge *

10.7. Procedure for Indemnification--Third Party Claims *

10.8. Procedure for Indemnification--Other Claims *

10.9. Exclusive Remedy *

11. TERMINATION *

11.1. Termination Events *

11.2. Effect of Termination *

12. GENERAL PROVISIONS *

12.1. Expenses *

12.2. Public Announcements *

12.3. Confidentiality *

12.4. Notices *

12.5. Further Assurances *

12.6. Amendment and Waiver *

12.7. Successors and Assigns *

12.8. Severability *

12.9. No Recourse *

12.10. Time of Essence *

12.11. Governing Law *

12.12. Jurisdiction; Service of Process *

12.13. Waiver of Jury Trial *

12.14. Entire Agreement *

12.15. Execution in Counterparts *

Stock Purchase Agreement

This Stock Purchase Agreement ("Agreement") is made as of the 21st day of December, 2006, by and between PCG Holdings Group Inc., a Delaware corporation ("Buyer"), and Hawk Corporation, a Delaware corporation ("Selling Shareholder").

RECITALS

    1. Selling Shareholder owns one share of common stock, par value $0.01 per share, of Hawk Precision Components Group, Inc., an Ohio corporation (the "Company"), which constitutes the sole issued and outstanding share of capital stock of the Company (the "Share").
    2. Selling Shareholder desires to sell the Share to Buyer, and Buyer desires to purchase the Share from Selling Shareholder, for the purchase price and upon the terms and conditions hereinafter set forth.

AGREEMENT

In consideration of the foregoing recitals, of the representations, warranties, covenants and agreements set forth herein and of other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

  1. DEFINITIONS
    1. Definitions

      For purposes of this Agreement, the following terms have the meanings specified or referred to below:


       

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