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Asset Purchase Agreement
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Title:
Asset Purchase Agreement
Entities:
United Industrial Corp.; Weil, Gotshal & Manges LLP
Date:
2000
Size:
Preview shows 8KB of 216KB total
Price:
$50
ID:
#353156
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                            ASSET PURCHASE AGREEMENT





                                     BETWEEN





                     RAILWORKS TRANSIT VEHICLE GROUP, INC.,





                             RAILWORKS CORPORATION,





                                 AAI CORPORATION





                                       AND





                          UNITED INDUSTRIAL CORPORATION





                          DATED AS OF SEPTEMBER 5, 2000













================================================================================









{PAGE}

{TABLE}

{CAPTION}

                                TABLE OF CONTENTS

{S}                                                                                          {C}

Article I DEFINITIONS..........................................................................1

---------------------



    SECTION 1.01     CERTAIN DEFINED TERMS.....................................................1

    ------------     ----------------------

    SECTION 1.02     OTHER DEFINITIONAL PROVISIONS.............................................9

    ------------     ------------------------------

    SECTION 1.03     CAPTIONS.................................................................10

    ------------     ---------

    SECTION 1.04     SUBSIDIARIES.............................................................10

    ------------     -------------



Article II SALE AND PURCHASE OF ASSETS; ASSUMPTION OF LIABILITIES; CLOSING....................10

--------------------------------------------------------------------------



    SECTION 2.01     TRANSFER OF ASSETS.......................................................10

    ------------     -------------------

    SECTION 2.02     EXCLUDED ASSETS..........................................................12

    ------------     ----------------

    SECTION 2.03     ASSUMPTION OF LIABILITIES................................................12

    ------------     --------------------------

    SECTION 2.04     EXCLUDED LIABILITIES.....................................................13

    ------------     ---------------------

    SECTION 2.05     PURCHASE PRICE...........................................................14

    ------------     ---------------

    SECTION 2.06     ALLOCATION OF PURCHASE PRICE.............................................14

    ------------     -----------------------------

    SECTION 2.07     TRANSFER TAXES...........................................................15

    ------------     ---------------

    SECTION 2.08     CLOSING..................................................................15

    ------------     --------

    SECTION 2.09     BULK SALES COMPLIANCE....................................................15

    ------------     ----------------------

    SECTION 2.10     PURCHASE PRICE ADJUSTMENT................................................15

    ------------     --------------------------



Article III REPRESENTATIONS AND WARRANTIES OF UIC AND SELLER..................................16

------------------------------------------------------------



    SECTION 3.01     POWER OF UIC AND SELLER..................................................16

    ------------     ------------------------

    SECTION 3.02     OWNERSHIP AND STATUS OF INTEREST IN SELLER...............................16

    ------------     -------------------------------------------

    SECTION 3.03     NO CONFLICTS OR LITIGATION...............................................16

    ------------     ---------------------------

    SECTION 3.04     CONTROL OF RELATED BUSINESSES............................................17

    ------------     ------------------------------



Article IV REPRESENTATIONS AND WARRANTIES CONCERNING the business.............................17

-----------------------------------------------------------------



    SECTION 4.01     QUALIFICATION............................................................17

    ------------     --------------

    SECTION 4.02     REQUIRED GOVERNMENTAL CONSENTS...........................................17

    ------------     -------------------------------

    SECTION 4.03     CHARTER DOCUMENTS AND RECORDS; NO VIOLATION..............................18

    ------------     --------------------------------------------

    SECTION 4.04     NO DEFAULTS..............................................................18

    ------------     ------------

    SECTION 4.05     SELLER SUBSIDIARIES......................................................18

    ------------     --------------------

    SECTION 4.06     PREDECESSOR STATUS; ETC..................................................18

    ------------     ------------------------

    SECTION 4.07     RELATED PARTY AGREEMENTS.................................................18

    ------------     -------------------------

    SECTION 4.08     LITIGATION...............................................................19

    ------------     -----------

    SECTION 4.09     CUSTOMER CONTRACTS.......................................................19

    ------------     -------------------

    SECTION 4.10     COMPLIANCE WITH LAWS; PERMITS............................................19

    ------------     ------------------------------

    SECTION 4.11     CERTAIN ENVIRONMENTAL MATTERS............................................20

    ------------     ------------------------------

    SECTION 4.12     OWNERSHIP OF PURCHASED ASSETS............................................22

    ------------     ------------------------------

    SECTION 4.13     FINANCIAL STATEMENTS; DISCLOSURE.........................................22

    ------------     ---------------------------------

    SECTION 4.14     ABSENCE OF UNDISCLOSED LIABILITIES.......................................23

    ------------     -----------------------------------

    SECTION 4.15     ADEQUACY OF THE PURCHASED ASSETS.........................................23

    ------------     ---------------------------------

    SECTION 4.16     RECEIVABLES..............................................................23

    ------------     ------------

    SECTION 4.17     OWNED AND LEASED REAL PROPERTIES.........................................23

    ------------     ---------------------------------

    SECTION 4.18     OWNED AND LEASED TRANSFERABLE PROPERTY, PLANT AND EQUIPMENT..............24

    ------------     ------------------------------------------------------------



                                       i

{PAGE}

    SECTION 4.19     PROPRIETARY RIGHTS.......................................................24

    ------------     -------------------

    SECTION 4.20     COMMITMENTS..............................................................25

    ------------     ------------

    SECTION 4.21     CAPITAL EXPENDITURES.....................................................27

    ------------     ---------------------

    SECTION 4.22     INSURANCE................................................................27

    ------------     ----------

    SECTION 4.23     EMPLOYEE MATTERS.........................................................27

    ------------     -----------------

    SECTION 4.24     COMPLIANCE WITH ERISA, ETC...............................................29

    ------------     ---------------------------

    SECTION 4.25     TAXES....................................................................29

    ------------     ------

    SECTION 4.26     ABSENCE OF CHANGES.......................................................29

    ------------     -------------------

    SECTION 4.27     PRODUCT QUALITY, WARRANTY CLAIMS, PRODUCT LIABILITY......................31
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