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Title: |
Asset Purchase Agreement |
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Entities: |
aaiPharma Inc.; AstraZeneca AB; Enzon Pharmaceuticals, Inc.; Mayne Group Ltd.; Sullivan & Cromwell |
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Date: |
2004 |
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Size: |
Preview shows 10KB of 182KB total |
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Price: |
$55 |
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ID: |
#381763 |
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Start of Preview |
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among
aaiPHARMA INC., aaiPHARMA LLC, AAI PROPERTIES, INC.
and
MAYNE PHARMA (USA) INC.
dated as of February 27, 2004
================================================================================
{PAGE}
TABLE OF CONTENTS
{TABLE}
{CAPTION}
Page
----
{S} {C}
ARTICLE I
DEFINITIONS
Section 1.01 Defined Terms................................................. 1
Section 1.02 Construction of Certain Terms and Phrases..................... 12
ARTICLE II
PURCHASE AND SALE OF ASSETS
Section 2.01 Purchase and Sale of Assets................................... 13
Section 2.02 Assignability and Consents.................................... 13
ARTICLE III
ASSUMPTION OF LIABILITIES
Section 3.01 Assumption of Assumed Liabilities............................. 14
ARTICLE IV
PURCHASE PRICE AND PAYMENT
Section 4.01 Purchase Price................................................ 14
ARTICLE V
CLOSING
Section 5.01 Time and Place................................................ 15
Section 5.02 Deliveries at Closing......................................... 15
ARTICLE VI
REPRESENTATIONS AND WARRANTIES OF SELLERS
Section 6.01 Organization.................................................. 17
Section 6.02 Authority of Seller........................................... 18
Section 6.03 Consents and Approvals........................................ 18
Section 6.04 Non-Contravention............................................. 19
Section 6.05 Assumed Contracts............................................. 19
Section 6.06 Financial Statements.......................................... 20
{/TABLE}
-i-
{PAGE}
{TABLE}
{CAPTION}
Page
----
{S} {C}
Section 6.07 Intellectual Property Rights.................................. 21
Section 6.08 Absence of Adverse Effects.................................... 23
Section 6.09 Title to Assets............................................... 23
Section 6.10 Litigation.................................................... 23
Section 6.11 Compliance with Law........................................... 24
Section 6.12 Inventory..................................................... 25
Section 6.13 Marketing Materials........................................... 25
Section 6.14 Brokers....................................................... 25
Section 6.15 No Non-Competition Agreements or Preferential Obligations..... 25
Section 6.16 Novation...................................................... 25
Section 6.17 No Other Representations and Warranties....................... 25
ARTICLE VII
REPRESENTATIONS AND WARRANTIES OF BUYER
Section 7.01 Corporate Organization........................................ 26
Section 7.02 Authority of Buyer............................................ 26
Section 7.03 Consents and Approvals........................................ 26
Section 7.04 Non-Contravention............................................. 27
Section 7.05 Litigation.................................................... 27
Section 7.06 Brokers....................................................... 27
Section 7.07 Financial Capability.......................................... 27
ARTICLE VIII
COVENANTS OF THE PARTIES
Section 8.01 Conduct of Business........................................... 28
Section 8.02 Reasonable Best Efforts....................................... 29
Section 8.03 Cooperation................................................... 30
Section 8.04 Access........................................................ 30
Section 8.05 Public Announcements.......................................... 30
Section 8.06 Bulk Sales.................................................... 31
Section 8.07 Tax Matters................................................... 31
Section 8.08 Ancillary Agreements.......................................... 32
Section 8.09 Acquisition Proposals......................................... 32
Section 8.10 Corporate Names............................................... 33
Section 8.11 Assistance in Collecting Certain Amounts...................... 33
Section 8.12 Handling of Inventory......................................... 33
Section 8.13 Differentiation of Products................................... 33
Section 8.14 Regulatory Matters............................................ 34
Section 8.15 Chargebacks, Returns and Rebates.............................. 34
Section 8.16 Further Assurances............................................ 37
Section 8.17 Guaranty...................................................... 37
Section 8.18 Inventory, etc................................................ 37
{/TABLE}
-ii-
{PAGE}
{TABLE}
{CAPTION}
Page
----
{S} {C}
Section 8.19 Certain Quality Assurance Matters............................. 38
Section 8.20 Royalty....................................................... 39
Section 8.21 Sales Employees............................................... 39
Section 8.22 Certain Payments.............................................. 41
Section 8.23 Multi-Product Contracts....................................... 41
Section 8.24 Noncompete.................................................... 41
ARTICLE IX
CONDITIONS TO THE OBLIGATIONS OF SELLERS
Section 9.01 Representations, Warranties and Covenants..................... 42
Section 9.02 Covenants..................................................... 42
Section 9.03 Ancillary Agreements.......................................... 42
Section 9.04 Certificate................................................... 42
Section 9.05 No Actions or Proceedings..................................... 42
Section 9.06 Consents...................................................... 42
Section 9.07 Bank of America Consent....................................... 42
Section 9.08 Buyer Deliveries.............................................. 42
Section 9.09 Other Closing Deliveries...................................... 43
ARTICLE X
CONDITIONS TO THE OBLIGATIONS OF BUYER
Section 10.01 Representations, Warranties and Covenants..................... 43
Section 10.02 Covenants..................................................... 43
Section 10.03 Ancillary Agreements.......................................... 43
Section 10.04 Certificate................................................... 43
Section 10.05 No Actions or Proceedings..................................... 43
Section 10.06 Consents...................................................... 43
Section 10.07 Bank of America Consent....................................... 43
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