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Asset Purchase Agreement
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Title:
Asset Purchase Agreement
Entities:
Fleet National Bank; Metromedia International Group Inc.
Date:
2002
Size:
Preview shows 6KB of 168KB total
Price:
$42
ID:
#413732
► Purchase & Sale ► Purchase ► Asset Purchase Agreements
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                            ASSET PURCHASE AGREEMENT









                                  BY AND AMONG









                                  SMI SNP, INC.









                                 (THE "BUYER"),









                      METROMEDIA INTERNATIONAL GROUP, INC.









                                   ("PARENT"),









                                       AND









                                  SNAPPER, INC.









                                 (THE "COMPANY")











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

{Page}



                                TABLE OF CONTENTS



{Table}

{Caption}

                                                                                                               PAGE

                                                                                                               ----

{S}                                                                                                             {C}

1.       Definitions..............................................................................................1

2.       Purchase and Sale........................................................................................7

                  (a)      Basic Transaction......................................................................7

                  (b)      Assumed Liabilities....................................................................8

                  (c)      Excluded Liabilities..................................................................10

                  (d)      Purchase Price........................................................................11

                  (e)      Certain Adjustments...................................................................11

                  (f)      Allocation of Purchase Price..........................................................13

                  (g)      Real Estate Taxes.....................................................................14

                  (h)      The Closing...........................................................................14

                  (i)      Deliveries at the Closing.............................................................14

3.       Representations and Warranties of Parent................................................................14

                  (a)      Organization of Parent................................................................14

                  (b)      Authorization of Transaction..........................................................14

                  (c)      Noncontravention......................................................................14

                  (d)      Brokers' Fees.........................................................................15

4.       Representations and Warranties Concerning the Company...................................................15

                  (a)      Organization, Qualification, and Corporate Power......................................15

                  (b)      Noncontravention......................................................................15

                  (c)      Broker's Fees.........................................................................16

                  (d)      Title to Assets.......................................................................16

                  (e)      Subsidiaries..........................................................................16

                  (f)      Financial Statements..................................................................16

                  (g)      No Material Change....................................................................16

                  (h)      Absence of Change or Event............................................................16

                  (i)      Legal Compliance......................................................................18

                  (j)      Tax Matters...........................................................................18

                  (k)      Real Property.........................................................................19

                  (l)      Intellectual Property.................................................................20

                  (m)      Contracts.............................................................................23

                  (n)      Litigation............................................................................24

                  (o)      Employee Matters......................................................................24

                  (p)      Environmental Matters.................................................................26

                  (q)      Certain Business Relationships with the Company.......................................28

                  (r)      Insurance.............................................................................28

                  (s)      Receivables...........................................................................28

                  (t)      Inventory.............................................................................28

                  (u)      Personal Property.....................................................................29

                  (v)      Disclaimer of other Representations and Warranties....................................29

5.       Representations and Warranties of the Buyer.............................................................30

                  (a)      Organization of the Buyer.............................................................30
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