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Stock Purchase Agreement

 

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Title:

Stock Purchase Agreement

Entities:

LecStar Corp.; Nelson Mullins Riley & Scarborough

Date:

2000

Size:

Preview shows 8KB of 136KB total

Price:

$59

ID:

#342147

 

 

► Purchase & Sale ► Purchase ► Stock Purchase Agreements
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                            STOCK PURCHASE AGREEMENT


May 31, 2000


By and Between


TANNER'S RESTAURANT GROUP, INC.
(a Texas corporation)

and

DCI TELECOMMUNICATIONS, INC.
(a Colorado corporation)

regarding all of the shares of

FONE.COM, LIMITED
(a corporation organized under the laws of England and Wales)

{PAGE}



TABLE OF CONTENTS

ARTICLE 1 THE PURCHASE..................................................... 1
Section 1.1 Purchase and Sale of Shares.................................1
Section 1.2 Time and Place of Closing...................................1

ARTICLE 2 OFFICERS AND DIRECTORS OF THE COMPANY.............................1

ARTICLE 3 PURCHASE PRICE AND PAYMENT OF PURCHASE PRICE......................2
Section 3.1 Purchase Price..............................................2
Section 3.2 Payment of Purchase Price...................................2
Section 3.3 Surrender and Exchange of Certificates......................2
Section 3.4 Legending of Securities.....................................2
Section 3.5 Transfer Taxes..............................................3

ARTICLE 4 RULES OF CONSTRUCTION.............................................3

ARTICLE 5 REPRESENTATIONS AND WARRANTIES OF DCI.............................5

Section 5.1 Organization................................................5
Section 5.2 Capitalization..............................................5
Section 5.3 Authority; No Violation.....................................6
Section 5.4 Financial Statements........................................6
Section 5.5 Broker's and Other Fees.....................................7
Section 5.6 Absence of Certain Changes or Events........................7
Section 5.7 Legal Proceedings...........................................7
Section 5.8 Taxes and Tax Returns.......................................8
Section 5.9 Employee Benefit Plans and Relations........................8
Section 5.10 Compliance with Applicable Laws............................10
Section 5.11 Certain Contracts..........................................10
Section 5.12 Properties and Insurance...................................11
Section 5.13 Environmental Matters......................................12
Section 5.14 Intellectual Property......................................12
Section 5.15 [Intentionally Omitted]....................................13
Section 5.16 Third-Party Interests or Marketing Rights in Software......13
Section 5.17 No Parachute Payments......................................13
Section 5.18 Absence of Certain Agreements and Practices................14
Section 5.19 Major Vendors and Customers................................14
Section 5.20 Accounts Receivable........................................14
Section 5.21 Bank Accounts..............................................15
Section 5.22 Corporate Records..........................................15
Section 5.23 Combinations Involving the Company.........................15
Section 5.24 Labor Relations............................................15
Section 5.25 Year 2000 Matters..........................................15
Section 5.26 Change in Control Provisions...............................15
Section 5.27 Disclosure.................................................16
Section 5.28 Securities Act Compliance..................................16

i

{PAGE}


Section 5.29 No Prior Convictions.......................................16
Section 5.30 Tax Advice.................................................16

ARTICLE 6 REPRESENTATIONS AND WARRANTIES OF PURCHASER......................16

Section 6.1 Corporate Organization.....................................16
Section 6.2 Capitalization.............................................17
Section 6.3 Authority; No Violation....................................17
Section 6.4 Financial Statements.......................................18
Section 6.5 Broker's and Other Fees....................................18
Section 6.6 Legal Proceedings..........................................18
Section 6.7 Taxes and Tax Returns......................................18
Section 6.8 Buyer Common Stock.........................................19

ARTICLE 7 COVENANTS AND AGREEMENTS OF THE PARTIES..........................19

Section 7.1 No Solicitation............................................19
Section 7.2 Current Information........................................20
Section 7.3 Access to Properties and Records; Confidentiality..........20
Section 7.4 Regulatory Matters; Consents; Cooperation, etc.............21
Section 7.5 Parties' Efforts; Further Assurances; Cooperation..........21
Section 7.6 Public Announcements.......................................22
Section 7.7 Failure to Fulfill Conditions..............................22
Section 7.8 Disclosure Supplements.....................................22
Section 7.9 Release; Covenant Not to Sue...............................22
Section 7.10 Intentionally omitted......................................23
Section 7.11 No Transfers...............................................23
Section 7.12 Special Provisions with Respect to Seller..................23
Section 7.13 Cooperation and Exchange of Information....................23
Section 7.14 Customer Contacts..........................................23
Section 7.15 Registration...............................................23
Section 7.16 Non-Competition............................................23

ARTICLE 8 CLOSING CONDITIONS...............................................24

Section 8.1 Conditions of Each Party's Obligations Under this
Agreement..................................................24
Section 8.2 Approvals and Regulatory Filings...........................24
Section 8.3 Conditions to the Obligations of Purchaser under this
Agreement..................................................25
Section 8.4 Conditions to the Obligations of DCI under this Agreement..26

ARTICLE 9 TERMINATION, AMENDMENT AND WAIVER................................27

Section 9.1 Termination................................................27
Section 9.2 Effect of Termination......................................27
Section 9.3 Amendment..................................................27
Section 9.4 Extension; Waiver..........................................27

ARTICLE 10 INDEMNIFICATION..................................................28

Section 10.1 Indemnification by the DCI.................................28
Section 10.2 Indemnification by Buyer...................................28

 

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