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Agreement for Sale and Purchase Of Assets

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Title:

Agreement for Sale and Purchase Of Assets

Entities:

Citibank, NA; Goodrich Corp.; Morgan Stanley & Co. Inc.; PMD Group Inc.; Davis Polk & Wardwell; Fried, Frank, Harris, Shriver & Jacobson; Squire, Sanders & Dempsey

Date:

2001

Size:

Preview shows 8KB of 344KB total

Price:

$81

ID:

#420745

► Miscellany ► Agreements ► Agreements for ► Sale ► Sale & Purchase ► Agreements for Sale & Purchase of Assets
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                         AGREEMENT FOR SALE AND PURCHASE

                                    OF ASSETS



                                     BETWEEN



                            THE B.F.GOODRICH COMPANY

                                   ("Seller")



                                       AND



                                 PMD GROUP INC.

                                    ("Buyer")























                          DATED AS OF NOVEMBER 28, 2000









{PAGE}   2







                                TABLE OF CONTENTS





                                                                            Page





ARTICLE I        PURCHASE AND SALE OF ASSETS...................................2

  Section 1.1.   Transaction; Sale Assets......................................2

  Section 1.2.   Excluded Assets...............................................4

  Section 1.3.   Title to Sale Assets..........................................6

  Section 1.4.   Excluded Liabilities..........................................6

  Section 1.5.   Assumed Liabilities...........................................7

  Section 1.6.   Purchase Price................................................8

  Section 1.7.   Allocation of Purchase Price..................................8

  Section 1.8.   Closing.......................................................9

  Section 1.9.   Purchase Price Adjustment.....................................9



ARTICLE II       REPRESENTATIONS AND WARRANTIES OF SELLER.....................12

  Section 2.1.   Organization; Power..........................................12

  Section 2.2.   Capitalization...............................................13

  Section 2.3.   Authority; No Violation......................................13

  Section 2.4.   Ownership of Stock and Equity Interest.......................14

  Section 2.5.   Title to Sale Assets and Related Matters.....................14

  Section 2.7.   Other Tangible Property......................................14

  Section 2.8.   No Sales or Options..........................................15

  Section 2.9    Financial Statements.........................................15

  Section 2.10.  Actions Pending..............................................15

  Section 2.11.  Absence of Changes or Events.................................16

  Section 2.12.  Compliance with Laws:  No Default............................16

  Section 2.13.  Real Property................................................17

  Section 2.14.  Material Contracts...........................................17

  Section 2.15.  Licenses and Permits.........................................19

  Section 2.16.  Intellectual Property........................................20

  Section 2.17.  Environmental Matters........................................21

  Section 2.18.  Labor Relations; Employees...................................23

  Section 2.19.  Employee Benefit Plans.......................................24

  Section 2.20.  Tax Matters..................................................26

  Section 2.21.  Brokers' or Finders' Fee.....................................28

  Section 2.22.  No Other Representations and Warranties......................28

  Section 2.23.  No Gifts or Similar Benefits.................................29

  Section 2.24.  Affiliate Transactions.......................................29

  Section 2.25.  Suppliers and Customers......................................29

  Section 2.26.  Product Liability Claims.....................................29



ARTICLE III      REPRESENTATIONS AND WARRANTIES OF BUYER......................29

  Section 3.1.   Organization; Power..........................................30

  Section 3.2.   Authority; No Violation; Etc.................................30



                                       i

{PAGE}   3



  Section 3.3.   Consents and Approvals.......................................30

  Section 3.4.   Actions Pending..............................................31

  Section 3.5.   Disclaimer as to Condition of Sale Assets....................31

  Section 3.6.   Nonreliance..................................................31

  Section 3.8.   Investment Intent............................................31

  Section 3.9.   Legend.......................................................31

  Section 3.10.  Brokers' or Finders' Fees....................................32

  Section 3.11.  Financing....................................................32

  Section 3.12.  Buyer Investment Plan........................................32

  Section 3.13.  No Other Representations Or Warranties.......................32



ARTICLE IV       PRE-CLOSING COVENANTS OF SELLER..............................32

  Section 4.1.   Maintenance of Corporate and Entity Status...................32

  Section 4.2.   Operation of the Business....................................32

  Section 4.3.   Other Offers.................................................35

  Section 4.4.   Access to Information........................................35

  Section 4.5.   Insurance....................................................36

  Section 4.6.   Required Consents and Approvals..............................36

  Section 4.7.   Pre-Transaction Notification, Transfer Statutes..............36

  Section 4.8.   Seller's Actions.............................................38

  Section 4.9.   Notice of Material Adverse Change............................38

  Section 4.10.  Cooperation..................................................38

  Section 4.11.  Intercompany Accounts........................................39

  Section 4.12.  Acquisition of Rights to Confidentiality.....................39

  Section 4.13.  Textile Consolidation Project................................39

  Section 4.14.  Satisfaction of Indebtedness.................................39

  Section 4.15.  Transfer of Excluded Real Property...........................39



ARTICLE V        PRE-CLOSING COVENANTS OF BUYER...............................40

  Section 5.1.   Required Consents and Approvals..............................40

  Section 5.2.   Pre-Transaction Notification.................................40

  Section 5.3.   Buyer's Actions..............................................41

  Section 5.4.   Notice of Material Adverse Change............................41

  Section 5.5.   Cooperation..................................................41



ARTICLE VI       CONDITIONS PRECEDENT TO PERFORMANCE OF BUYER.................41

  Section 6.1.   Accuracy of Representations and Warranties of Seller.........41

  Section 6.2.   Compliance...................................................42

  Section 6.3.   Approval.....................................................42

  Section 6.4.   Authorization................................................42

  Section 6.5.   Litigation...................................................42

  Section 6.6.   Closing Deliveries...........................................43

  Section 6.7.   Material Adverse Effect......................................43

  Section 6.8    Financing....................................................43

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