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Document Preview Asset Purchase Agreement |
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Title: |
Asset Purchase Agreement |
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Entities: |
First Union National Bank; InterCept, Inc.; Haynes and Boone; Nelson Mullins Riley & Scarborough |
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Date: |
2002 |
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Size: |
Preview shows 10KB of 133KB total |
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Price: |
$60 |
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ID: |
#666143 |
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ASSET PURCHASE AGREEMENT
------------------------
among
THE INTERCEPT GROUP, INC.,
a corporation formed under the laws of the State of Georgia
and
INTERCEPT OUTPUT SOLUTIONS, LP,
a limited partnership formed under the laws of the State of Texas
and
HSI HOLDINGS, INC.
a corporation formed under the laws of the State of Nevada
and
SUPERIOR FORMS, LTD.
a limited partnership formed under the laws of the State of Texas
and
HSI PROPERTIES, LTD.
a limited partnership formed under the laws of the State of Texas
and
HOLMES & SHAW LIMITED, INC.
a corporation formed under the laws of the State of Nevada
and
HOLMES & SHAW GENERAL, INC.
a corporation formed under the laws of the State of Nevada
and
GEORGE V. SHAW, III
a individual residing in the State of Texas
and
VINCENT INVESTMENT COMPANY, INC.
a corporation formed under the laws of the State of Texas
October 1, 2001
{PAGE}
TABLE OF CONTENTS
Page
ARTICLE 1 - SALE AND PURCHASE ............................................. 1
1.1 Included Assets ................................................ 1
1.2 Intent of the Parties .......................................... 4
1.3 Title to and Transfer of Assets ................................ 4
1.4 Excluded Assets ................................................ 4
ARTICLE 2 - ASSUMPTION OF LIABILITIES BY THE PURCHASER .................... 5
2.1 Assumed Liabilities ............................................ 5
2.2 Liabilities Not Assumed ........................................ 5
ARTICLE 3 - CLOSING AND PURCHASE PRICE .................................... 8
3.1 Closing ........................................................ 8
3.2 Purchase Price ................................................. 8
3.3 Fair Market Value of Assets .................................... 8
3.4 Establishment of Escrow ........................................ 8
ARTICLE 4 - REPRESENTATIONS AND WARRANTIES OF THE SELLER PARTIES ......... 8
4.1 Entity Existence ............................................... 8
4.2 Partnership Power; Authorization; Enforceable Obligations ...... 9
4.3 No Conflict .................................................... 9
4.4 Required Government Consents ................................... 9
4.5 Five Largest Customers ......................................... 10
4.6 Financial Matters .............................................. 10
4.7 Absence of Changes ............................................. 10
4.8 No Undisclosed Liabilities ..................................... 12
4.9 Title to Property .............................................. 12
4.10 Condition of Property .......................................... 12
4.11 Inventory ...................................................... 12
4.12 Contracts - General ............................................ 12
4.13 Intellectual Property .......................................... 13
4.14 Leases ......................................................... 13
4.15 Litigation ..................................................... 13
4.16 Court Orders, Decrees, and Laws ................................ 14
4.16.1 Compliance with Laws .................................... 14
4.16.2 Adequacy of Authorizations .............................. 14
4.16.3 Environmental Matters ................................... 14
4.17 Personnel and Compensation ..................................... 14
4.17.1 List of Personnel ....................................... 14
4.17.2 Employee Relations ...................................... 14
4.17.3 Compliance with Immigration and Labor and Employment
{PAGE}
Laws .................................................... 15
4.19 Employee Benefit Plans and Arrangements ........................ 15
4.18.1 List of Plans and Obligations ........................... 15
4.18.2 Compliance .............................................. 15
4.18.3 No Liabilities or Obligations ........................... 15
4.18.4 No Payments ............................................. 15
4.18.5 No Multi-Employer Plans ................................. 16
4.19 Insurance Policies ............................................. 16
4.20 Broker's or Finder's Fees ...................................... 16
4.21 Accounts Receivable ............................................ 16
4.22 Vehicles ....................................................... 16
4.23 No Guarantees .................................................. 16
4.24 Tax Matters .................................................... 17
4.24.1 Tax and Social Returns .................................. 17
4.24.2 Inquiries, Investigations, and Audits ................... 17
4.24.3 Returns Furnished ....................................... 17
4.25 Disclosure ..................................................... 17
ARTICLE 5 - REPRESENTATIONS AND WARRANTIES OF PURCHASER AND PARENT ........ 18
5.1 Corporate Existence ............................................ 18
5.2 Corporate and Partnership Power and Authorization .............. 18
5.3 No Conflict. ................................................... 18
5.4 Broker's or Finder's Fees ...................................... 19
5.5 Outstanding Stock .............................................. 19
5.6 Financing ...................................................... 19
ARTICLE 6 - CONDITIONS TO CLOSING ......................................... 19
6.1 Conditions to the Sellers' Obligations ......................... 19
6.2 Conditions to the Obligations of the Purchaser and the Parent .. 20
ARTICLE 7 - CLOSING ....................................................... 22
7.1 Actions at Closing ............................................. 22
7.1.1 Copies of Consents ...................................... 22
7.1.2 Deliveries of Documents ................................. 22
7.2 Delivery of Purchase Price ..................................... 22
ARTICLE 8 - COVENANTS OF THE PURCHASER, THE PARENT, AND THE SELLERS ....... 22
8.1 Mutual Cooperation ............................................. 22
8.2 Covenants of the Sellers Regarding the Operation of the
Business from the Signing Date to the Closing Date ........... 23
8.3 Post-Closing Settlement ........................................ 24
8.4 Allocation of Purchase Price ................................... 25
8.5 Maintenance of Books and Records ............................... 25
ii
{PAGE}
8.6 UCC Matters .................................................... 25
8.7 Offers of Employment by the Parent to the Sellers' Employees ... 25
8.8 Enrollment in Parent's Health Plan ............................. 26
8.9 Assumption by Parent of Sellers' Health Plan ................... 26
8.10 Termination of Holmes & Shaw, Inc. 401(k) Plan ................. 26
8.12 Consents........................................................ 26
ARTICLE 9 - INDEMNIFICATION ............................................... 27
9.1 Indemnification by the Seller Parties .......................... 27
9.1.1 Breach of Obligation .................................... 27
9.1.2 Excluded Liabilities .................................... 27
9.1.3 Violations of Fraudulent Conveyance or Bulk Sales Laws .. 27
9.2 Indemnification by the Purchaser and the Parent ................ 28
9.2.1 Breach of Obligation .................................... 28
9.2.2 Assumed Liabilities ..................................... 28
9.2.3 Post-Closing Operations ................................. 28
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