Contracts; No Defaults. Schedule 4(t) attached hereto contains a complete and accurate list, and Stronghold has made available to the Purchaser true and complete copies, of: (i) each Applicable Contract that involves performance of services or delivery of goods or materials of an amount or value in excess of $25,000; (ii) each Applicable Contract that was not entered into in the ordinary course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less and that involves expenditures or receipts of Stronghold in excess of $25,000; (iii) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 and with terms of less than one year); (iv) each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold with any other person or entity; (v) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold or any affiliate of the foregoing or limit the freedom of Stronghold or any affiliate of the foregoing to engage in any line of business or to compete with any person or entity; (vi) each employment or consulting agreement of Stronghold; (vii) each Applicable Contract providing for payments to or by any person or entity based on sales, purchases, or profits, other than direct payments for goods; (viii) each power of attorney executed by Stronghold that is currently effective and outstanding; (ix) each Applicable Contract entered into other than in the ordinary course of business that contains or provides for an express undertaking by Stronghold to be responsible for consequential damages; (x) each Applicable Contract for capital expenditures in excess of $25,000; (xi) each written warranty, guaranty, and other similar undertaking with respect to contractual performance extended by Stronghold other than in the ordinary course of business; and (xii) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. Except as set forth in Schedule 4(t) attached hereto, (i) Stronghold is, and has been, in material compliance with all applicable terms and requirements of each Contract under which such company has or had any obligation or liability or by which such company or any of the assets owned or used by such company is or was bound; (ii) each other person or entity that has or had any obligation or liability under any Contract under which Stronghold has or had any rights is, and has been, in material compliance with all applicable terms and requirements of such Contract; (iii) to the Knowledge of Stronghold, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold or other person or entity the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and (iv) Stronghold has not been given or received from any other person or entity any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t) attached hereto, there are no renegotiation of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold under current or completed Contracts with any person or entity and, to the Knowledge of Stronghold, no such person or entity has made written demand for such renegotiation. The Contracts relating to the sale, design, or provision of products or services by Stronghold have been entered into in the ordinary course of business and have been entered into without the commission of any act alone or in concert with any other person or entity, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.
Appears in 2 contracts
Samples: Securities Purchase Agreement (Stronghold Technologies Inc), Securities Purchase Agreement (TDT Development Inc)
Contracts; No Defaults. 3.22.1 Schedule 4(t) attached hereto contains a true, correct and complete and accurate list, and Stronghold the Company has made available delivered to the Purchaser true Buyer true, correct and complete copies, of:
(ia) each Applicable Each Contract that involves the furnishing or performance of services services, or delivery the delivery, sale, lease or transfer of goods goods, materials or materials of products, by the Company in an amount or value in excess of $25,000, including, but not limited to, purchase orders received by the Company;
(iib) each Applicable Each Contract that was not entered into involves the furnishing or performance of services to, or the purchase, lease or receipt of goods, materials, inventory, supplies, products or other personal property by the Company in the ordinary course of business an amount or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less and that involves expenditures or receipts of Stronghold value in excess of $25,000, including, but not limited to, purchase orders issued by the Company;
(iiic) each Each material lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 and with terms of less than one year)property;
(ivd) each joint ventureEach Contract under which the Company has created, partnershipincurred, assumed or guaranteed any indebtedness for borrowed money, has incurred any capitalized lease obligation, or under which any of its tangible or intangible assets, are Encumbered;
(e) Each material licensing agreement or other Contract with respect to any Intellectual Property Assets, including, without limitation, agreements with current or former employees, consultants, or contractors regarding the appropriation or the non-disclosure of any of the Intellectual Property Assets;
(f) Each collective bargaining agreement and other Contract to or with any labor union or other employee representative of a group of employees or which involves the Company or any former or present employees, agents or representatives of the Company;
(g) Each profit sharing, stock option, stock purchase, stock appreciation, deferred compensation, severance, or other plan, arrangement, contract or Employee Benefit Plan for the benefit of its current or former directors, officers, and employees, except for Employee Benefits Plans and Profit Sharing Plan disclosed in Schedule ;
(h) Each offer or agreement for the employment of or receipt of any services from any Person on a full-time, part-time, consulting, commission or any other Applicable basis, except for oral agreements of employment that are terminable by the Company at will and without any Liability;
(i) Each joint venture or partnership agreement or other Contract (however named) involving any joint conduct or sharing of any business, venture or enterprise, or a sharing of profits, losses, costs, or liabilities by Stronghold the Company with any other person or entityPerson;
(vj) each Applicable Each Contract containing covenants that in any way purport to restrict the business activity of Stronghold or any affiliate of the foregoing Company or limit the freedom of Stronghold or any affiliate of the foregoing Company to engage in any line of business or to compete with any person or entityPerson;
(vik) each employment or consulting agreement of Stronghold;
(vii) each Applicable Contract providing for payments to or by any person or entity based on sales, purchases, or profits, other than direct payments for goods;
(viii) each power of attorney executed by Stronghold that is currently effective and outstanding;
(ix) each Applicable Contract entered into other than in the ordinary course of business that contains or provides for an express undertaking by Stronghold to be responsible for consequential damages;
(x) each Applicable Each Contract for capital expenditures in excess of $25,000;
(xil) each written Each warranty, guaranty, and or other similar undertaking extended by the Company for or with respect to contractual performance extended by Stronghold other than any Person;
(m) Each Contract under which the Company has advanced, guaranteed or loaned any amount to or for the benefit of any of its directors, officers, employees or Representatives;
(n) Each Contract with any employee, officer, director, shareholder, sales representative, consultant, distributor, Representative or agent of the Company;
(o) Each material Contract relating to Intellectual Property Assets;
(p) Each Contract providing for a payment or involving an aggregate consideration or value in excess of $25,000;
(q) Each Contract not entered into in the ordinary course Ordinary Course of businessBusiness;
(r) Each power of attorney granted by, on behalf of, or to any the Company;
(s) Each Contract relating to confidentiality or noncompetition;
(t) Each Contract having a term or period of performance in excess of 90 days; and
(xiiu) each Each proposed or actual amendment, supplement, and or modification (whether oral or written) in respect of any of the foregoing. .
3.22.2 Except as set forth in Schedule 4(t, each Contract is in full force and effect and is valid and enforceable in accordance with its terms.
3.22.3 Except as set forth in Schedule with respect to each Contract (including, without limitation, those Contracts and agreements disclosed or required to be disclosed in Schedule ):
(a) attached hereto, (i) Stronghold is, and has been, Company is in material full compliance with all applicable terms and requirements of each Contract under which such company has or had any obligation or liability or by which such company or any of the assets owned or used by such company is or was bound; Contract;
(iib) each Each other person or entity Person that has or had any obligation or liability under any Contract under which Stronghold has or had any rights is, and at all times has been, in material full compliance with all applicable terms and requirements of such Contract; ;
(iiic) to the Knowledge of Stronghold, no No event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach Breach of, or give Stronghold the Company or other person or entity Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and and
(ivd) Stronghold Company has not been given to or received from any other person or entity Person any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach Breach of, default under or default undertermination or cancellation of, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t) attached hereto, there are no renegotiation of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold under current or completed Contracts with any person or entity and, to the Knowledge of Stronghold, no such person or entity has made written demand for such renegotiation. The Contracts relating to the sale, design, or provision of products or services by Stronghold have been entered into in the ordinary course of business and have been entered into without the commission of any act alone or in concert with any other person or entity, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.
Appears in 2 contracts
Samples: Stock Subscription Agreement (Probe Manufacturing Inc), Stock Subscription Agreement (Probe Manufacturing Inc)
Contracts; No Defaults. (a) Schedule 4(t) attached hereto 5.19 contains a complete and accurate list, and Stronghold has made KKR and the KKR Subsidiaries shall at FRI's request deliver to FRI or make available to the Purchaser for FRI's review true and complete copies, of:
(i) each Applicable Contract Agreement that involves performance of services or delivery of goods or materials by or to one or more of KKR and the KKR Subsidiaries of an amount or value in excess of $25,000;150,000.
(ii) each Applicable Contract Agreement that was not entered into in the ordinary course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less and that involves expenditures or receipts of Stronghold one or more KKR and the KKR Subsidiaries in excess of $25,000;75,000.
(iii) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract Agreement affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 50,000 and with terms of less than one year);
(iv) each licensing agreement or other Applicable Agreement with respect to Intellectual Property;
(v) each collective bargaining agreement and other Applicable Agreement to or with any labor union or other employee representative of a group of employees;
(vi) each joint venture, partnership, and other Applicable Contract (however named) Agreement involving a sharing of profits, losses, costs, or liabilities by Stronghold any of KKR and the KKR Subsidiaries with any other person or entityPerson;
(vvii) each Applicable Contract Agreement containing covenants that in any way purport to restrict the business activity of Stronghold KKR or any affiliate of the foregoing KKR Subsidiaries or any Affiliate of KKR or any of the KKR Subsidiaries, (other than directors or officers of KKR) or limit the freedom of Stronghold KKR or any affiliate of the foregoing KKR Subsidiaries or any Affiliate of KKR or any of the KKR Subsidiaries (other than directors or officers of KKR) to engage in any line of business or to compete with any person or entity;
(vi) each employment or consulting agreement of Stronghold;
(vii) each Applicable Contract providing for payments to or by any person or entity based on sales, purchases, or profits, other than direct payments for goodsPerson;
(viii) each power of attorney executed by Stronghold that is currently effective and outstanding, other than powers of attorneys normally executed in connection with the KKR SEC Documents;
(ix) each Applicable Contract entered into other than in the ordinary course of business that contains or provides for an express undertaking by Stronghold to be responsible for consequential damages;
(x) each Applicable Contract Agreement for capital expenditures in excess of $25,00050,000;
(x) each other Applicable Agreement material to KKR and the KKR Subsidiaries, taken as a whole, which has not otherwise been set forth on Schedules 5.1 through 5.20; and
(xi) each written warranty, guaranty, and other similar undertaking with respect to contractual performance extended by Stronghold other than in the ordinary course of business; and
(xii) each enforceable amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. .
(b) Except as set forth in Schedule 4(t5.19(b), each Applicable Agreement referred to in Section 5.19(a) attached hereto, is in full force and effect and is valid and enforceable in accordance with its terms.
(c) Except as set forth in Schedule 5.19(c):
(i) Stronghold iseach of KKR and the KKR Subsidiaries and, and has beento the knowledge of KKR, each other party thereto is in compliance in all material compliance respects with all applicable terms and requirements of each Contract under which such company has or had any obligation or liability or by which such company or any of the assets owned or used by such company is or was boundApplicable Agreement referred to in Section 5.19(a); and
(ii) each other person or entity that has or had any obligation or liability under any Contract under which Stronghold has or had any rights is, and has been, in material compliance with all applicable terms and requirements of such Contract; (iii) to the Knowledge of Stronghold, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold any of KKR and the KKR Subsidiaries or other person or entity Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and (iv) Stronghold has not been given or received from any other person or entity any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, Agreement referred to in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t) attached hereto, there are no renegotiation of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold under current or completed Contracts with any person or entity and, to the Knowledge of Stronghold, no such person or entity has made written demand for such renegotiation. The Contracts relating to the sale, design, or provision of products or services by Stronghold have been entered into in the ordinary course of business and have been entered into without the commission of any act alone or in concert with any other person or entity, or any consideration having been paid or promised, that is or would be in violation of any Legal RequirementSection 5.19(a).
Appears in 2 contracts
Samples: Merger Agreement (Family Restaurants), Merger Agreement (Koo Koo Roo Inc/De)
Contracts; No Defaults. (a) Section 3.17(a) of the Seller Disclosure Schedule 4(t) attached hereto contains a complete and accurate listlist in all material respects, and Stronghold has Sellers have made available to the Purchaser true TOG true, complete and complete correct copies, of:
(i) Contracts between any of the Acquired Companies on the one hand and customers or suppliers of the Acquired Companies on the other hand that represent, at a minimum, eighty-five percent (85%) in the aggregate of each Applicable Contract that involves performance of (y) the total value of all services or delivery of and goods or materials of an amount or value in excess of $25,000received by the Acquired Companies since January 1, 2007 and (z) all services performed and goods delivered by the Acquired Companies since January 1, 2007;
(ii) each Applicable Contract that was not entered into in the ordinary course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less and that involves expenditures or receipts of Stronghold in excess of $25,000;
(iii) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property that involves the payment by or to any Acquired Company in excess of $50,000 annually;
(except personal property leases and installment and conditional sales iii) each licensing agreement or other Contract of any Acquired Company with respect to any material Intellectual Property Asset, including standard agreements having a value per item with current or aggregate payments former employees, consultants, or contractors regarding the appropriation or the non-disclosure of less than $25,000 and with terms of less than one year)any Intellectual Property Asset;
(iv) each collective bargaining agreement and other Contract to or with any labor union or other employee representative of a group of employees and any Acquired Company;
(v) each employment Contract between any Acquired Company with an employee, agent, consultant and/or manager of such Acquired Company that involves payments in excess of $50,000 annually;
(vi) each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold any Acquired Company with any other person or entityPerson;
(vvii) each Applicable Contract containing covenants that purport in any way purport material respect to restrict the business activity of Stronghold or any affiliate of the foregoing Acquired Company or limit the freedom of Stronghold or any affiliate of the foregoing Acquired Company to engage in any line of business or to compete with any person or entity;
(vi) each employment or consulting agreement of Stronghold;
(vii) each Applicable Contract providing for payments to or by any person or entity based on sales, purchases, or profits, other than direct payments for goodsPerson;
(viii) each power Contract containing covenants that purport in any material respect to restrict the business activity of attorney executed by Stronghold that is currently effective and outstandingeither of the Sellers with respect to any conduct, activity, or practice relating to the business of the Acquired Companies, except for the restrictions contained in this Agreement or the Employment Agreements;
(ix) each Applicable Contract entered into other than in any plan or commitment or arrangement of any Acquired Company, written or oral, providing for bonuses, pensions, deferred compensation, retirement payments, profit sharing or the ordinary course of business that contains or provides for an express undertaking by Stronghold to be responsible for consequential damageslike;
(x) each Applicable Contract evidencing indebtedness for borrowed money by any Acquired Company;
(xi) each power of attorney that is currently effective and outstanding with any Acquired Company;
(xii) each Contract for capital expenditures in excess of $25,00050,000 annually with respect to any Acquired Company;
(xixiii) each written warranty, guaranty, Government Contract (except for purchase orders and blanket purchasing agreements pursuant to Government Contracts); and
(xiv) any other similar undertaking with respect to contractual performance extended by Stronghold other than Contract or commitment not made in the ordinary course of business; andbusiness which calls for the expenditure by any Acquired Company in any twelve (12) month period of at least $75,000.
(xiib) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. Except as set forth in Schedule 4(ton Section 3.17(b) attached heretoof the Disclosure Schedule, neither of the Sellers has acquired nor has rights to acquire any rights under, and neither of the Sellers or affiliate of either of the Sellers has or may become subject to any obligation or liability under, any Contract that relates to the business of, or any of the assets owned or used by, any Acquired Company.
(c) Except as set forth on Section 3.17(c) of the Seller Disclosure Schedule:
(i) Stronghold is, and has been, Each Acquired Company is in material compliance with all material applicable terms and requirements of each Contract identified or required to be identified on Section 3.17(a) of the Seller Disclosure Schedule under which such company Acquired Company has or had any obligation or liability or by which such company Acquired Company or any of the assets owned or used by such company any Acquired Company is or was bound; ;
(ii) to the Knowledge of Sellers, each other person or entity Person that has or had any obligation or liability under any Contract identified or required to be identified on Section 3.17(a) of the Seller Disclosure Schedule under which Stronghold an Acquired Company has or had any rights is, and has been, is in full compliance in all material compliance respects with all applicable terms and requirements of such Contract; and
(iii) to the Knowledge of StrongholdSellers, no event has occurred or circumstance exists that (with or without notice or of lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold or other person or entity the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and (iv) Stronghold has not been given or received from any other person or entity any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, of any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t) attached hereto, there are no renegotiation of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold under current or completed Contracts with any person or entity and, to the Knowledge of Stronghold, no such person or entity has made written demand for such renegotiation. The Contracts relating to the sale, design, or provision of products or services by Stronghold have been entered into in the ordinary course of business and have been entered into without the commission of any act alone or in concert with any other person or entity, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.
Appears in 2 contracts
Samples: Stock Purchase Agreement (O'Gara Group, Inc.), Stock Purchase Agreement (O'Gara Group, Inc.)
Contracts; No Defaults. Schedule 4(ta. Part 3.17(a) attached hereto of the Disclosure Letter contains a complete and accurate list, and Stronghold Seller has made available delivered to the Purchaser Buyer true and complete copies, of:
(i) each Applicable Contract that involves performance of services or delivery of goods or materials by one or more Acquired Companies of an amount or value in excess of $25,00010,000;
(ii) each Applicable Contract that involves performance of services or delivery of goods or materials to one or more Acquired Companies of an amount or value in excess of $10,000;
(iii) each Applicable Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less Business and that involves expenditures or receipts of Stronghold one or more Acquired Companies in excess of $25,00010,000;
(iiiiv) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 10,000 and with terms of less than one year);
(ivv) each licensing agreement or other Applicable Contract with respect to patents, trademarks, copyrights, or other intellectual property, including agreements with current or former employees, consultants, or contractors regarding the appropriation or the non-disclosure of any of the Intellectual Property Assets;
(vi) each collective bargaining agreement and other Applicable Contract to or with any labor union or other employee representative of a group of employees;
(vii) each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold any Acquired Company with any other person or entityPerson;
(vviii) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold any Acquired Company or any affiliate Affiliate of the foregoing an Acquired Company or limit the freedom of Stronghold any Acquired Company or any affiliate Affiliate of the foregoing an Acquired Company to engage in any line of business or to compete with any person or entityPerson;
(vi) each employment or consulting agreement of Stronghold;
(viiix) each Applicable Contract providing for payments to or by any person or entity Person based on sales, purchases, or profits, other than direct payments for goods;
(viiix) each power of attorney executed by Stronghold that is currently effective and outstanding;
(ixxi) each Applicable Contract entered into other than in the ordinary course Ordinary Course of business Business that contains or provides for an express undertaking by Stronghold any Acquired Company to be responsible for consequential damages;
(xxii) each Applicable Contract for capital expenditures in excess of $25,00010,000;
(xixiii) each written warranty, guaranty, and or other similar undertaking with respect to contractual performance extended by Stronghold any Acquired Company other than in the ordinary course Ordinary Course of businessBusiness; and
(xiixiv) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. Part 3.17(a) of the Disclosure Letter sets forth reasonably complete details concerning such Contracts, including the parties to the Contracts, the amount of the remaining commitment of the Acquired Companies under the Contracts, and the Acquired Companies' office where details relating to the Contracts are located.
b. Except as set forth in Schedule 4(tPart 3.17(b) attached hereto, of the Disclosure Letter:
(i) Stronghold neither Seller (and no Related Person of either Seller) has or may acquire any rights under, and neither Seller has or may become subject to any obligation or liability under, any Contract that relates to the business of, or any of the assets owned or used by, any Acquired Company; and
(ii) to the Knowledge of Seller and the Acquired Companies, no officer, director, agent, employee, consultant, or contractor of any Acquired Company is bound by any Contract that purports to limit the ability of such officer, director, agent, employee, consultant, or contractor to (A) engage in or continue any conduct, activity, or practice relating to the business of any Acquired Company, or (B) assign to any Acquired Company or to any other Person any rights to any invention, improvement, or discovery.
c. Except as set forth in Part 3.17(c) of the Disclosure Letter, each Contract identified or required to be identified in Part 3.17(a) of the Disclosure Letter is in full force and effect and is valid and enforceable in accordance with its terms.
d. Except as set forth in Part 3.17(d) of the Disclosure Letter:
(i) each Acquired Company is, and at all times since formation has been, in material full compliance with all applicable terms and requirements of each Contract under which such company Acquired Company has or had any obligation or liability or by which such company Acquired Company or any of the assets owned or used by such company Acquired Company is or was bound; ;
(ii) each other person or entity Person that has or had any obligation or liability under any Contract under which Stronghold an Acquired Company has or had any rights is, and at all times since formation has been, in material full compliance with all applicable terms and requirements of such Contract; ;
(iii) to the Knowledge of Stronghold, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold any Acquired Company or other person or entity Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and and
(iv) Stronghold no Acquired Company has not been given to or received from any other person or entity Person, at any time since formation, any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t) attached hereto, there .
e. There are no renegotiation renegotiations of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold Acquired Company under current or completed Contracts with any person or entity Person and, to the Knowledge of StrongholdSeller and the Acquired Companies, no such person or entity Person has made written demand for such renegotiation. .
f. The Contracts relating to the sale, design, manufacture, or provision of products or services by Stronghold the Acquired Companies have been entered into in the ordinary course Ordinary Course of business Business and have been entered into without the commission of any act alone or in concert with any other person or entityPerson, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.
Appears in 2 contracts
Samples: Stock Purchase Agreement (Genesis Solar Corp), Stock Purchase Agreement (Cogenco International Inc)
Contracts; No Defaults. Schedule 4(t(a) attached hereto The Disclosure Letter contains a complete and accurate list, and Stronghold has made available to the Purchaser true and complete copies, list of:
(i) each Applicable Contract that involves performance of services or delivery of goods or materials by one or more Company of an amount or value in excess of $25,000250,000;
(ii) each Applicable Contract that involves performance of services or delivery of goods or materials to one or more Company of an amount or value in excess of $250,000;
(iii) each Applicable Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less Business and that involves expenditures or receipts of Stronghold one or more Company in excess of $25,000250,000;
(iiiiv) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 250,000 and with terms of less than one year);
(ivv) each licensing agreement or other Applicable Contract with respect to patents, trademarks, copyrights, or other intellectual property, including agreements with current or former employees, consultants, or contractors regarding the appropriation or the non-disclosure of any of the Intellectual Property Assets;
(vi) each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold the Company with any other person or entityPerson;
(vvii) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold the Company or any affiliate Affiliate of the foregoing Company or limit the freedom of Stronghold the Company or any affiliate Affiliate of the foregoing Company to engage in any line of business or to compete with any person or entityPerson;
(vi) each employment or consulting agreement of Stronghold;
(viiviii) each Applicable Contract providing for payments to or by any person or entity Person based on sales, purchases, or profits, other than direct payments for goods;
(viiiix) each power of attorney executed by Stronghold that is currently effective and outstanding;
(ixx) each Applicable Contract entered into other than in the ordinary course Ordinary Course of business Business that contains or provides for an express undertaking by Stronghold the Company to be responsible for consequential damages;
(xxi) each Applicable Contract for capital expenditures in excess of $25,000250,000;
(xixii) each written warranty, guaranty, and or other similar undertaking with respect to contractual performance extended by Stronghold the Company other than in the ordinary course Ordinary Course of businessBusiness; and
(xiixiii) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. .
(b) Except as set forth in Schedule 4(t) attached hereto, the Disclosure Letter:
(i) Stronghold Seller (and no Related Person of Seller) has or may acquire any rights under, and Seller has or may become subject to any obligation or liability under, any Contract that relates to the business of, or any of the assets owned or used by, the Company; and
(ii) to the Knowledge of Seller and the Company, no officer, director, agent, employee, consultant, or contractor of the Company is bound by any Contract that purports to limit the ability of such officer, director, agent, employee, consultant, or contractor to (A) engage in or continue any conduct, activity, or practice relating to the business of the Company, or (B) assign to the Company or to any other Person any rights to any invention, improvement, or discovery.
(c) Except as set forth in the Disclosure Letter, each Contract identified or required to be identified in the Disclosure Letter is in full force and effect and is valid and enforceable in accordance with its terms.
(d) Except as set forth in the Disclosure Letter:
(i) the Company is, and at all times since January 1, 1994 has been, in material full compliance with all applicable terms and requirements of each Contract under which such company the Company has or had any obligation or liability or by which such company the Company or any of the assets owned or used by such company the Company is or was bound; ;
(ii) each other person or entity Person that has or had any obligation or liability under any Contract under which Stronghold the Company has or had any rights is, and at all times since January 1, 1994 has been, in material full compliance with all applicable terms and requirements of such Contract; ;
(iii) to the Knowledge of Stronghold, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold the Company or other person or entity Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and and
(iv) Stronghold the Company has not been given to or received from any other person or entity Person, at any time since January 1, 1994, any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t.
(e) attached hereto, there There are no renegotiation renegotiations of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold the Company under current or completed Contracts with any person or entity Person and, to the Knowledge of StrongholdSeller and the Company, no such person or entity Person has made written demand for such renegotiation. .
(f) The Contracts relating to the sale, design, manufacture, or provision of products or services by Stronghold the Company have been entered into in the ordinary course Ordinary Course of business Business and have been entered into without the commission of any act alone or in concert with any other person or entityPerson, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement. 3.18. INSURANCE. [RESERVED.]
Appears in 2 contracts
Samples: Share Exchange Agreement (Melita International Corp), Share Exchange Agreement (Melita International Corp)
Contracts; No Defaults. Schedule 4(t(a) attached hereto Section 4.12(a) of the Company Disclosure Letter contains a listing of all Contracts described in clauses (i) through (xxii) below to which, as of the date of this Agreement, a Group Company is a party or by which it is bound, other than a Company Benefit Plan. True, correct and complete and accurate list, and Stronghold has copies of the Contracts listed on Section 4.12(a) of the Company Disclosure Letter have previously been delivered to or made available to the Purchaser true and complete copiesHCM or its agents or representatives, of:together with all amendments thereto.
(i) each Applicable Any Contract that involves performance with any of services the Top Vendors (other than purchase orders, invoices, or delivery statements of goods or materials of an amount or value in excess of $25,000;
(ii) each Applicable Contract that was not work entered into or used in the ordinary course of business consistent with past practice);
(ii) Each note, debenture, other evidence of Indebtedness, guarantee, loan, credit or is not cancelable financing agreement or instrument or other Contract for money borrowed by Stronghold a Group Company, including any agreement or a subsidiary of Stronghold with no penalty upon advance notice of 30 days commitment for future loans, credit or less and that involves expenditures or receipts of Stronghold financing, in each case, in excess of $25,000MXN$50,000,000;
(iii) any Contract under which any Lien (other than a Permitted Lien) exists that affects any material asset of any Group Company;
(iv) Each Contract for the acquisition of any Person or any business unit thereof or the disposition of any material assets of a Group Company during the Lookback Period, in each case involving payments in excess of MXN$50,000,000, other than Contracts between the Group Companies;
(v) Each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting that provides for the ownership of, leasing of, title to, use of, or any leasehold or other interest in, in any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or involves aggregate payments in excess of less MXN$50,000,000 in any calendar year;
(vi) Each hotel management agreement;
(vii) Each Contract involving the formation of a (A) joint venture, (B) partnership, or (C) limited liability company (excluding, in the case of clauses (B) and (C), any wholly owned Group Company (other than $25,000 and with terms of less than one yearthe Company));
(ivviii) each joint ventureContracts (other than non-disclosure agreements, partnershipnon-solicitation provisions typically included in non-disclosure agreements, employment agreements, employee confidentiality and invention assignment agreements, equity or incentive equity documents and Governing Documents) between Group Companies, on the one hand, and Affiliates of any Group Company (other Applicable Contract than any Group Company), the officers and managers (however namedor equivalents) involving of any Group Company, the members or stockholders of any Group Company, any employee of any Group Company or a sharing member of profitsthe immediate family of the foregoing Persons, losseson the other hand (collectively, costs, or liabilities by Stronghold with any other person or entity“Affiliate Agreements”);
(vix) Contracts with each Applicable Contract current employee or individual consultant or other individual service provider to any Group Company that provide annual base cash compensation (excluding bonus and other benefits) (salario base) in excess of MXN$5,000,000;
(x) Contracts with each employee or individual consultant or other individual service provider to any Group Company that provide for change in control, retention or similar payments or benefits contingent upon, accelerated by or triggered by the consummation of the transactions contemplated hereby, and Contracts containing a “golden parachute” or “key man” or other provision requiring the continuity of one or more shareholders of any Group Company or any director, officer or employee thereof;
(xi) Contracts containing covenants that in of any way purport to restrict Group Company (A) prohibiting or limiting the business activity right of Stronghold or any affiliate of the foregoing or limit the freedom of Stronghold or any affiliate of the foregoing Group Company to engage in or compete with any Person in any line of business in any material respect or (B) prohibiting or restricting any Group Company’s ability to compete conduct their business with any person or entityPerson in any geographic area in any material respect;
(vi) each employment or consulting agreement of Stronghold;
(vii) each Applicable Contract providing for payments to or by any person or entity based on sales, purchases, or profits, other than direct payments for goods;
(viii) each power of attorney executed by Stronghold that is currently effective and outstanding;
(ix) each Applicable Contract entered into other than in the ordinary course of business that contains or provides for an express undertaking by Stronghold to be responsible for consequential damages;
(x) each Applicable Contract for capital expenditures in excess of $25,000;
(xi) each written warranty, guaranty, and other similar undertaking with respect to contractual performance extended by Stronghold other than in the ordinary course of business; and
(xii) each amendmentAny collective bargaining (or similar) agreement or Contract between any Group Company, supplementon the one hand, and modification (whether oral any labor union or written) in respect other body representing employees of any of Group Company, on the foregoing. Except as set forth in Schedule 4(tother hand;
(xiii) attached heretoEach Contract, (i) Stronghold isincluding license agreements, coexistence agreements, and has beenagreements with covenants not to sue (but not including non-disclosure agreements, incidental trademark licenses incident to marketing or non-exclusive licenses entered into by any Group Company with customers, in material compliance with all applicable terms and requirements of each Contract under which such company has or had any obligation or liability or by which such company or any of the assets owned or used by such company is or was bound; (ii) each other person or entity that has or had any obligation or liability under any Contract under which Stronghold has or had any rights is, and has been, in material compliance with all applicable terms and requirements of such Contract; (iii) to the Knowledge of Stronghold, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold or other person or entity the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and (iv) Stronghold has not been given or received from any other person or entity any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t) attached hereto, there are no renegotiation of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold under current or completed Contracts with any person or entity and, to the Knowledge of Stronghold, no such person or entity has made written demand for such renegotiation. The Contracts relating to the sale, design, or provision of products or services by Stronghold have been case entered into in the ordinary course of business consistent with past practice) pursuant to which any Group Company (i) grants to a third Person a license, covenant not to sue or other right under any material Company Intellectual Property or (ii) receives from a third Person a license, covenant not to sue or other right under any Intellectual Property that is material to the business of any Group Company (other than Contracts granting nonexclusive rights to use commercially available off-the-shelf software with annual fees of less than MXN$1,000,000 and have been Open Source Licenses);
(xiv) Each Contract requiring capital expenditures by any Group Company after the date of this Agreement in an amount in excess of MXN$50,000,000 in any calendar year;
(xv) Any Contract that grants to any third Person (A) any “most favored nation rights” or (B) price guarantees for a period greater than one year from the date of this Agreement and requires aggregate future payments to the Group Companies in excess of MXN$50,000,000 in any calendar year;
(xvi) Contracts granting to any Person (other than any Group Company) a right of first refusal, first offer, re-acquisition right, derecho de reversión or similar preferential right to purchase or acquire equity interests in any Group Company or any assets owned by any Group Company;
(xvii) Contracts documenting derivative or hedging or similar transactions;
(xviii) Contracts executed with any Governmental Authorities;
(xix) Any Contract involving payment obligations by any Group Company in excess of MXN$50,000,000 in any calendar year;
(xx) Any Contract that provides for the indemnification or assumption of any liability of any Person by the Company or the Group Companies;
(xxi) Contracts entered into without outside the commission ordinary course of business or that is otherwise material to any act alone Group Company and that is not included in any of the previous paragraphs; and
(xxii) Any outstanding written commitment to enter into any Contract of the type described in the foregoing subsections of this Section 4.12(a).
(b) Except for any Contract that will terminate upon the expiration of the stated term thereof prior to the Closing Date, all of the Contracts listed or required to be listed pursuant to Section 4.12(a) in concert with the Company Disclosure Letter (i) are in full force and effect and (ii) represent the legal, valid and binding obligations of the Group Company party thereto and, to the knowledge of the Company, represent the legal, valid and binding obligations of the counterparties thereto. Except, in each case, where the occurrence of such breach or default or failure to perform would not be material to any Group Company, (x) the Group Companies have performed in all respects all respective obligations required to be performed by them to date under such Contracts listed pursuant to Section 4.12(a) and none of the Group Companies, nor, to the knowledge of the Company, any other person party thereto is in breach of or entitydefault under any such Contract, (y) during the last 24 months, none of the Group Companies has received any written claim or written notice of termination or breach of or default under any consideration having such Contract (which claim or notice has not been paid rescinded), and (z) to the knowledge of the Company, no event has occurred which individually or promisedtogether with other events, that is would reasonably be expected to result in a breach of or would be a default under any such Contract by any Group Company or, to the knowledge of the Company, any other party thereto (in violation each case, with or without notice or lapse of any Legal Requirementtime or both).
Appears in 2 contracts
Samples: Business Combination Agreement (HCM Acquisition Corp), Business Combination Agreement (HCM Acquisition Corp)
Contracts; No Defaults. (a) Schedule 4(t) attached hereto 5.15 contains a complete and accurate list, and Stronghold has made available to the Purchaser true and complete copies, list of:
(i) each Applicable Contract that involves performance of services or delivery of goods or materials by FM of an amount or value in excess of $25,0005,000;
(ii) each Applicable Contract that involves performance of services or delivery of goods or materials to FM of an amount or value in excess of $5,000;
(iii) each Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less Business and that involves expenditures or receipts of Stronghold FM in excess of $25,0005,000;
(iiiiv) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 10,000 and with terms of less than one year);
(ivv) each licensing agreement or other Contract with respect to patents, trademarks, copyrights, or other intellectual property, including agreements with current or former employees, consultants, or contractors regarding the appropriation or the non-disclosure of any of the Intellectual Property Assets;
(vi) each collective bargaining agreement and other Contract to or with any labor union or other employee representative of a group of employees;
(vii) each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold FM with any other person or entityPerson;
(vviii) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold FM or any affiliate Affiliate of the foregoing FM or limit the freedom of Stronghold FM or any affiliate Affiliate of the foregoing FM to engage in any line of business or to compete with any person or entityPerson;
(viix) each employment or consulting agreement of Stronghold;
(vii) each Applicable Contract providing for payments to or by any person or entity Person based on sales, purchases, or profits, other than direct payments for goods;
(viiix) each power of attorney executed by Stronghold that is currently effective and outstanding;
(ixxi) each Applicable Contract entered into other than in the ordinary course Ordinary Course of business Business that contains or provides for an express undertaking by Stronghold FM to be responsible for consequential damages;
(xxii) each Applicable Contract for capital expenditures in excess of $25,0002,500;
(xixiii) each written warranty, guaranty, and or other similar undertaking with respect to contractual performance extended by Stronghold FM other than in the ordinary course Ordinary Course of business; andBusiness;
(xiixiv) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. ; and
(xv) Schedule 5.15 sets forth reasonably complete details concerning such Contracts, including the parties to the Contracts and the amount of the remaining commitment of FM under the Contracts.
(b) Except as set forth in Schedule 4(t) attached hereto, 5.15:
(i) Stronghold no officer, director or shareholder who owns in excess of five percent (5%) of the capital stock of FM (and no Related Person of the foregoing) has nor may it acquire any rights under, any Contract that relates to the business of, or any of the assets owned or used by, FM; and
(ii) no officer, director, agent, employee, consultant, or contractor of FM is bound by any Contract that purports to limit the ability of such officer, director, agent, employee, consultant, or contractor to (A) engage in or continue any conduct, activity, or practice relating to the business of FM, or (B) assign to FM or to any other Person any rights to any invention, improvement, or discovery.
(c) Except as set forth in Schedule 5.15, each Contract identified or required to be identified in Schedule 5.15 is in full force and effect and is valid and enforceable in accordance with its terms.
(d) Except as set forth in Schedule 5.15:
(i) FM is, and at all times since inception has been, in material full compliance with all applicable terms and requirements of each Contract under which such company FM has or had any obligation or liability or by which such company FM or any of the assets owned or used by such company FM is or was bound; ;
(ii) each other person or entity Person that has or had any obligation or liability under any Contract under which Stronghold FM has or had any rights is, and at all times since inception has been, in material full compliance with all applicable terms and requirements of such Contract; ;
(iii) to the Knowledge of Stronghold, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold FM or any other person or entity Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and and
(iv) Stronghold FM has not been given to or received from any other person or entity Person, at any time since inception, any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t.
(e) attached hereto, there There are no renegotiation renegotiations of, attempts to renegotiate, renegotiate or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold FM under current or completed Contracts with any person or entity and, to the Knowledge of Stronghold, Person and no such person or entity Person has made written demand for such renegotiation. The Contracts relating to the sale, design, or provision of products or services by Stronghold have been entered into in the ordinary course of business and have been entered into without the commission of any act alone or in concert with any other person or entity, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.
Appears in 2 contracts
Samples: Share Exchange Agreement (YouChange Holdings Corp), Share Exchange Agreement (YouChange Holdings Corp)
Contracts; No Defaults. (a) Schedule 4(t3.21(a) attached hereto of the Disclosure Letter contains a complete and accurate list, and Stronghold Seller has made available delivered to the Purchaser Buyer true and complete copies, ofof each written:
(i) each Applicable Contract that involves performance of services or delivery of goods or materials to the Company other than sales of Products in the Ordinary Course of Business of an amount or value in excess of $25,000100,000 annually;
(ii) each Applicable Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less Business and that involves expenditures or receipts of Stronghold the Company in excess of $25,000100,000 annually and which cannot be terminated on 30 days notice without penalty;
(iii) each Applicable Contract with a wholesale distributor of magazines in the United States who entered into such Applicable Contract with the Company in such wholesaler's capacity as a wholesale distributor of magazines;
(iv) lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other written Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 and with terms of less than one year100,000 annually);
(ivv) each collective bargaining agreement and other written Applicable Contract to or with any labor union or other employee representative of a group of employees;
(vi) joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold the Company with any other person or entityPerson;
(vvii) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold or any affiliate of the foregoing Company or limit the freedom of Stronghold or any affiliate of the foregoing Company to engage in any line of business or to compete with any person or entityPerson;
(viviii) each employment or consulting agreement of Stronghold;
(vii) each Applicable Contract providing for payments in excess of $100,000 annually to or by any person or entity Person based on sales, purchases, or profits, other than direct payments for goods;
(viiiix) each power of attorney executed by Stronghold that is currently effective and outstanding;
(ix) each Applicable Contract entered into other than in the ordinary course of business that contains or provides for an express undertaking by Stronghold to be responsible for consequential damages;
(x) each Applicable Contract for capital expenditures in excess of $25,000100,000 annually, other than any Applicable Contracts with customers providing for the installation of display fixtures;
(xi) each written warranty, guaranty, and and/or other similar undertaking with respect to contractual performance extended by Stronghold the Company other than in the ordinary course Ordinary Course of businessBusiness; and
(xii) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. ; in each case other than those Applicable Contracts listed on another Schedule of the Disclosure Letter.
(b) Except as set forth in Schedule 4(t3.21(b) attached hereto, of the Disclosure Letter or as contemplated by the Transaction Documents:
(i) Stronghold isNo Applicable Contract that relates to the business of, and has been, in material compliance with all applicable terms and requirements of each Contract under which such company has or had any obligation or liability or by which such company or any of the assets owned or used by such company is by, the Company (A) provides Seller (or was bound; any Related Person of Seller) with any rights, or the ability to acquire any rights, thereunder under, or (iiB) each other person subjects Seller (or entity that has or had any Related Person of Seller) to any obligation or liability under thereunder; and
(ii) No officer or director of the Company, and to Seller's Knowledge, no agent, employee, consultant, or contractor of the Company, is bound by any Contract under which Stronghold has that purports to limit the ability of such officer, director, agent, employee, consultant, or had contractor to (A) engage in or continue any conduct, activity, or practice relating to the business of the Company, or (B) assign to the Company or to any other Person any rights isto any invention, and improvement, or discovery.
(c) Except as set forth in Schedule 3.21(c) of the Disclosure Letter, since January 27, 2006, the Company has beennot received from any Person, in material compliance with all applicable terms and requirements of such Contract; (iii) any written notice or other written communication or, to the Knowledge of StrongholdSeller, no event has occurred or circumstance exists that (with or without any oral notice or lapse communication that any Current Customer of timethe Company as of January 27, 2006 has determined to cease doing business with the Company or materially reduce the volume of Products purchased from the Company.
(d) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold or other person or entity the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and (iv) Stronghold has not been given or received from any other person or entity any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on set forth in Schedule 4(t3.21(d) attached heretoof the Disclosure Letter, there are no renegotiation renegotiations of, attempts to renegotiate, or outstanding rights to renegotiate renegotiate, any material amounts paid or payable to the Company under any of Stronghold under current or completed Material Applicable Contracts with any person or entity and, to the Knowledge of Stronghold, and no such person or entity Person has made written demand for such renegotiation. , other than in connection with a dispute or the expiration or renewal of such a Contract.
(e) The Material Applicable Contracts relating to the sale, design, or provision of products or services by Stronghold the Company have been entered into in the ordinary course Ordinary Course of business and have been entered into without the commission of any act alone or in concert with any other person or entity, or any consideration having been paid or promised, that is or would be in violation of any Legal RequirementBusiness.
Appears in 2 contracts
Samples: Unit Purchase Agreement (Source Interlink Companies Inc), Unit Purchase Agreement (Source Interlink Companies Inc)
Contracts; No Defaults. (a) Part 4.16(a) of the Parent Disclosure Schedule 4(t) attached hereto contains a complete and accurate list, and Stronghold has made available to the Purchaser true and complete copies, of:
(i) each Applicable Contract that involves performance of services or delivery of goods, services or materials (in any 12-month period) by one or more Acquired Companies of an amount or value in excess of US $50,000; provided, however, with respect to all customer and channel supply Contracts, each such Contract shall be listed and provided without regard to the value thereof;
(ii) each Contract that involves performance of services or delivery of goods or materials to one or more Acquired Companies of an amount or value in excess of US $25,00050,000;
(iiiii) each Applicable Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less Business and that involves expenditures or receipts of Stronghold one or more Acquired Companies in excess of US $25,00050,000;
(iiiiv) each lease, rental or occupancy lease agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except for the following: (1) personal property leases and installment and conditional sales agreements having a value for the remaining term per item or aggregate payments of less than US $25,000 50,000, (2) Intellectual Property Assets disclosed in Part 4.20 of Parent Disclosure Schedule and (3) commonly available Software programs, such as retail shrink-wrap and retail off the shelf Software).
(v) each licensing agreement or other Contract with terms respect to patents, trademarks, copyrights, or other intellectual property, including agreements with current or former employees (other than their employment contracts), consultants, or contractors regarding the appropriation or the nondisclosure of less than one yearany of the Intellectual Property Assets (except for the following: (1) Intellectual Property Assets disclosed in Part 4.20 of the Parent Disclosure Schedule and (2) commonly available software programs, such as retail shrink-wrap and retail off the shelf Software);
(ivvi) each joint venture, partnership, and any other Applicable Contract (however named) Contracts involving a sharing of profits, losses, costscosts or Liabilities by any Acquired Company, or liabilities by Stronghold with any other person or entityPerson;
(vvii) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold or any affiliate of the foregoing Acquired Company or limit the freedom of Stronghold or any affiliate of the foregoing Acquired Company to engage in any line of business or to compete with any person or entityPerson;
(viviii) each employment or consulting agreement of Stronghold;
(vii) each Applicable Contract providing for payments commissions to or by any person or entity Person based on sales, purchases, purchases or profits, other than direct payments for goods;
(viii) each power of attorney executed by Stronghold that is currently effective and outstanding;
(ix) each Applicable Contract entered into other than in the ordinary course of business that contains or provides for an express undertaking by Stronghold to be responsible for consequential damages;
(x) each Applicable Contract for capital expenditures in excess of US $25,00050,000;
(xix) each written warranty, guaranty, and or other similar undertaking with respect to contractual performance (other than with respect to Intellectual Property Assets disclosed in Part 4.20 of the Parent Disclosure Schedule) extended by Stronghold any Acquired Company other than in the ordinary course Ordinary Course of business; andBusiness;
(xi) each Contract with any Related Person of any Acquired Company that relates to the business of, or any of the assets owned or used by, any Acquired Company;
(xii) each written amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. .
(b) Except as set forth in Part 4.16(b) of the Parent Disclosure Schedule, each Contract identified or required to be identified in Part 4.16(a) of the Parent Disclosure Schedule 4(tis in full force and effect.
(c) attached heretoExcept as set forth in Part 4.16(c) of the Parent Disclosure Schedule, with respect to each Contract identified or required to be identified in Part 4.16(a) of the Disclosure Schedule:
(i) Stronghold each Acquired Company is, and at anytime since December 31, 1999 has been, in material compliance with all applicable terms and requirements of each such Contract under which such company has or had any obligation or liability or by which such company or any of the assets owned or used by such company Acquired Company is or was bound; party to;
(ii) each other person or entity that has or had any obligation or liability under any Contract under which Stronghold has or had any rights is, and has been, in material compliance with all applicable terms and requirements of such Contract; (iii) to the Knowledge of StrongholdParent’s Knowledge, no event has occurred or circumstance circumstances exists that (with or without notice or the lapse of timetime (including, without limitation, after giving effect to the Contemplated Transactions)) may contravene, conflict with, or will result in a material violation or breach Breach of, or give Stronghold any Acquired Company, or any other person or entity Person party to such Contracts, the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminateterminate or modify any such Contracts (other than Contracts which are terminable without cause in accordance with their terms); and
(iii) no Acquired Company has given to, or modify, any Applicable Contract; and (iv) Stronghold has not been given or received from any other person or entity Person, at anytime since December 31, 1999, any written notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach Breach of, or default under, any such Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t.
(d) attached hereto, there There are no renegotiation of, attempts existing renegotiations with respect to renegotiate, or outstanding rights customer Contracts with respect to renegotiate any material amounts paid or payable to any Acquired Company in excess of Stronghold under current or completed US $100,000.
(e) To Parent’s Knowledge, all Contracts with which any person or entity andAcquired Company is a party to are in writing and all and any amendments, settlements and modifications to the Knowledge of Stronghold, no such person or entity has made written demand for such renegotiation. The any Contracts relating to the sale, design, or provision of products or services by Stronghold have been entered into made in the ordinary course of business and have been entered into without the commission of any act alone or in concert with any other person or entity, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirementwriting.
Appears in 2 contracts
Samples: Stock Purchase Agreement (Evolving Systems Inc), Stock Purchase Agreement (Evolving Systems Inc)
Contracts; No Defaults. (a) Schedule 4(t) attached hereto 3.16 contains a complete and accurate list, and Stronghold has made available to the Purchaser true and complete copies, list of:
(i) each Applicable Contract that involves performance of services or delivery of goods or materials by Target of an amount or value in excess of $25,00010,000;
(ii) each Applicable Contract that involves performance of services or delivery of goods or materials to Target of an amount or value in excess of $10,000;
(iii) each Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less Business and that involves expenditures or receipts of Stronghold Target in excess of $25,00010,000;
(iiiiv) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 10,000 and with terms of less than one year);
(ivv) each licensing agreement or other Contract with respect to patents, trademarks, copyrights, or other intellectual property, including agreements with current or former employees, consultants, or contractors regarding the appropriation or the non-disclosure of any of the Intellectual Property Assets;
(vi) each collective bargaining agreement and other Contract to or with any labor union or other employee representative of a group of employees;
(vii) each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold Target with any other person or entityPerson;
(vviii) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold Target or any affiliate Affiliate of the foregoing Target or limit the freedom of Stronghold Target or any affiliate Affiliate of the foregoing Target to engage in any line of business or to compete with any person or entityPerson;
(viix) each employment or consulting agreement of Stronghold;
(vii) each Applicable Contract providing for payments to or by any person or entity Person based on sales, purchases, or profits, other than direct payments for goods;
(viiix) each power of attorney executed by Stronghold that is currently effective and outstanding;
(ixxi) each Applicable Contract entered into other than in the ordinary course Ordinary Course of business Business that contains or provides for an express undertaking by Stronghold Target to be responsible for consequential damages;
(xxii) each Applicable Contract for capital expenditures in excess of $25,00010,000;
(xixiii) each written warranty, guaranty, and or other similar undertaking with respect to contractual performance extended by Stronghold Target other than in the ordinary course Ordinary Course of businessBusiness; and
(xiixiv) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. Schedule 3.16 sets forth reasonably complete details concerning such Contracts, including the parties to the Contracts and the amount of the remaining commitment of the Target under the Contracts.
(b) Except as set forth in Schedule 4(t) attached hereto, 3.16:
(i) Stronghold no officer, director or shareholder who was in excess of five percent (5%) of the capital stock of the Target (and no Related Person of the foregoing) has nor may it acquire any rights under, any Contract that relates to the business of, or any of the assets owned or used by, Target; and
(ii) no officer, director, agent, employee, consultant, or contractor of Target is bound by any Contract that purports to limit the ability of such officer, director, agent, employee, consultant, or contractor to (A) engage in or continue any conduct, activity, or practice relating to the business of Target, or (B) assign to Target or to any other Person any rights to any invention, improvement, or discovery.
(c) Except as set forth in Schedule 3.16, each Contract identified or required to be identified in Schedule 3.16 is in full force and effect and is valid and enforceable in accordance with its terms.
(d) Except as set forth in Schedule 3.16:
(i) Target is, and at all times since inception has been, in material full compliance with all applicable terms and requirements of each Contract under which such company Target has or had any obligation or liability or by which such company Target or any of the assets owned or used by such company Target is or was bound; ;
(ii) each other person or entity Person that has or had any obligation or liability under any Contract under which Stronghold Target has or had any rights is, and at all times since inception has been, in material full compliance with all applicable terms and requirements of such Contract; ;
(iii) to the Knowledge of Stronghold, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold Target or any other person or entity Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and and
(iv) Stronghold Target has not been given to or received from any other person or entity Person, at any time since inception, any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t.
(e) attached hereto, there There are no renegotiation renegotiations of, attempts to renegotiate, renegotiate or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold Target under current or completed Contracts with any person or entity and, to the Knowledge of Stronghold, Person and no such person or entity Person has made written demand for such renegotiation. The Contracts relating to the sale, design, or provision of products or services by Stronghold have been entered into in the ordinary course of business and have been entered into without the commission of any act alone or in concert with any other person or entity, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.
Appears in 2 contracts
Samples: Merger Agreement (Century Park Pictures Corp), Merger Agreement (Century Park Pictures Corp)
Contracts; No Defaults. Schedule 4(t(a) attached hereto Part 3.17(a) of the Disclosure Letter contains a complete and accurate list, and Stronghold has made available Sellers have delivered to the Purchaser Buyer true and complete copies, of:
(i) each Applicable Contract that involves performance of services or delivery of goods or materials by the Company of an amount or value in excess of $25,000;
(ii) each Applicable Contract that was not entered into in involves performance of services or delivery of goods or materials to the ordinary course Company of business an amount or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less and that involves expenditures or receipts of Stronghold value in excess of $25,000;
(iii) each Applicable Contract that was not entered into in the Ordinary Course of Business and that involves expenditures or receipts of the Company in excess of $25,000;
(iv) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 and with terms of less than one year);
(ivv) each licensing agreement or other Applicable Contract with respect to patents, trademarks, copyrights, or other intellectual property, including agreements with current or former employees, consultants, or contractors regarding the appropriation or the non-disclosure of any of the Intellectual Property Assets;
(vi) each collective bargaining agreement and other Applicable Contract to or with any labor union or other employee representative of a group of employees;
(vii) each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold the Company with any other person or entityPerson;
(vviii) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold the Company or any affiliate Affiliate of the foregoing Company or limit the freedom of Stronghold the Company or any affiliate Affiliate of the foregoing Company to engage in any line of business or to compete with any person or entityPerson;
(vi) each employment or consulting agreement of Stronghold;
(viiix) each Applicable Contract providing for payments to or by any person or entity Person based on sales, purchases, or profits, other than direct payments for goods;
(viiix) each power of attorney executed by Stronghold that is currently effective and outstanding;
(ixxi) each Applicable Contract entered into other than in the ordinary course Ordinary Course of business Business that contains or provides for an express undertaking by Stronghold the Company to be responsible for consequential damages;
(xxii) each Applicable Contract for capital expenditures in excess of $25,000;
(xixiii) each written warranty, guaranty, and or other similar undertaking with respect to contractual performance extended by Stronghold the Company other than in the ordinary course Ordinary Course of businessBusiness; and
(xiixiv) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. Part 3.17(a) of the Disclosure Letter sets forth reasonably complete details concerning such Contracts, including the parties to the Contracts, the amount of the remaining commitment of the Company under the Contracts, and the Company's office where details relating to the Contracts are located.
(b) Except as set forth in Schedule 4(tPart 3.17(b) attached hereto, of the Disclosure Letter:
(i) Stronghold No Seller (and no Related Person of any Seller) has or may acquire any rights under, and no Seller has or may become subject to any obligation or liability under, any Contract that relates to the business of, or any of the assets owned or used by, the Company; and
(ii) No officer, director, agent, employee, consultant, or contractor of the Company is bound by any Contract that purports to limit the ability of such officer, director, agent, employee, consultant, or contractor to (A) engage in or continue any conduct, activity, or practice relating to the business of the Company, or (B) assign to the Company or to any other Person any rights to any invention, improvement, or discovery.
(c) Except as set forth in Part 3.17(c) of the Disclosure Letter, each Contract identified or required to be identified in Part 3.17(a) of the Disclosure Letter is in full force and effect and is valid and enforceable in accordance with its terms.
(d) Except as set forth in Part 3.17(d) of the Disclosure Letter:
(i) The Company is, and at all times since September 30, 1998 has been, in material full compliance with all applicable terms and requirements of each Contract under which such company the Company has or had any obligation or liability or by which such company the Company or any of the assets owned or used by such company the Company is or was bound; ;
(ii) each other person or entity Person that has or had any obligation or liability under any Contract under which Stronghold the Company has or had any rights is, and at all times since September 30, 1998 has been, in material full compliance with all applicable terms and requirements of such Contract; ;
(iii) to the Knowledge of Stronghold, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold the Company or other person or entity Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and and
(iv) Stronghold The Company has not been given to or received from any other person or entity Person, at any time since October 1, 1995, any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, which could give rise to Damages in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(texcess of $25,000.
(e) attached hereto, there There are no renegotiation renegotiations of, attempts to renegotiate, or outstanding rights to renegotiate any material Material amounts paid or payable to any of Stronghold the Company under current or completed Contracts with any person or entity and, to the Knowledge of Stronghold, Person and no such person or entity Person has made written demand for such renegotiation. .
(f) The Contracts relating to the sale, design, manufacture, or provision of products or services by Stronghold have the Company has been entered into in the ordinary course Ordinary Course of business Business and have been entered into without the commission of any act alone or in concert with any other person or entityPerson, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.
Appears in 2 contracts
Samples: Stock Purchase Agreement (Foster L B Co), Stock Purchase Agreement (Foster L B Co)
Contracts; No Defaults. (a) Schedule 4(t) attached hereto 4.10 contains a complete and accurate listlist of, and Stronghold Seller has made available delivered to the Purchaser Buyer true and complete copies, copies of:
(i) each Applicable Contract that involves performance of services or delivery of goods or materials by the Company of an amount or value in excess of US $25,000100,000;
(ii) each Applicable Contract that involves performance of services or delivery of goods or materials to the Company of an amount or value in excess of US $50,000;
(iii) each Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less Business and that involves expenditures or receipts of Stronghold the Company in excess of US $25,00050,000;
(iiiiv) each lease, rental or occupancy lease agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than US $25,000 and with terms of less than one year);
(ivv) each licensing agreement or other Contract with respect to patents, trademarks, copyrights, or other intellectual property, including agreements with current or former employees, consultants, or contractors regarding the appropriation or the non-disclosure of any of the Intellectual Property;
(vi) each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold the Company with any other person or entityPerson;
(vvii) each Applicable Contract between or including the Company and an Affiliate;
(viii) each Contract containing covenants that in any way purport to restrict the business activity of Stronghold the Company or any affiliate Affiliate of the foregoing Company or limit the freedom of Stronghold the Company or any affiliate Affiliate of the foregoing Company to engage in any line of business or to compete with any person or entity;
(vi) each employment or consulting agreement of Stronghold;
(vii) each Applicable Contract providing for payments to or by any person or entity based on sales, purchases, or profits, other than direct payments for goods;
(viii) each power of attorney executed by Stronghold that is currently effective and outstandingPerson;
(ix) each Applicable Contract entered into other than in the ordinary course of business that contains or provides for an express undertaking by Stronghold to be responsible for consequential damages;
(x) each Applicable Contract for capital expenditures in excess of $25,000;
(xi) each written warranty, guaranty, and or other similar undertaking with respect to contractual performance extended by Stronghold the Company other than in the ordinary course Ordinary Course of businessBusiness; and
(xiix) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. Except as set forth in Schedule 4(t.
(b) attached hereto, Seller (iand each Affiliate of Seller) Stronghold is, and has been, in material compliance with all applicable terms and requirements of each Contract does not have any rights under which such company has or had any obligation or liability under and does not have the right to require or by which such company will not become subject to, any Contract that relates to the business of, or any of the assets owned or used by, the Company;
(c) To the Knowledge of Seller or the Company, no officer, director, agent, employee, consultant, or contractor of the Company is bound by any Contract that purports to limit the ability of such company officer, director, agent, employee, consultant, or contractor to (i) engage in or continue any conduct, activity, or practice relating to the business of the Company, or (ii) assign to the Company or to any other Person any rights to any invention, improvement, or discovery;
(d) With respect to each Contract identified or required to be identified in Schedule 4.10, (i) the Contract is or was boundlegal, valid, binding, enforceable and in full force and effect; (ii) each other person or entity that has or had any obligation or liability under any the Contract under which Stronghold has or had any rights iswill continue to be legal, valid, binding, enforceable and has been, in material compliance with all applicable full force and effect on identical terms and requirements following the consummation of such Contractthe transactions contemplated hereby; (iii) to the Knowledge of Strongholdno party is in breach or default, and no event has occurred or circumstance exists that (which with or without notice or lapse of time) may contravene, conflict withtime would constitute a breach or default, or result in a material violation permit termination, modification or breach ofacceleration, or give Stronghold or other person or entity under the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and (iv) Stronghold no party has repudiated any provision of the Contract;
(e) The Company has not been given to or received from any other person or entity Person, at any time since January 1, 2005, any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t; and
(f) attached hereto, there There are no renegotiation renegotiations of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold the Company under current or completed Contracts with any person or entity Person and, to the Knowledge of StrongholdSeller or the Company, no such person or entity Person has made written demand for such renegotiation. The Contracts relating to the sale, design, or provision of products or services by Stronghold have been entered into in the ordinary course of business and have been entered into without the commission of any act alone or in concert with any other person or entity, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.
Appears in 2 contracts
Samples: Share Purchase Agreement, Share Purchase Agreement (Transatlantic Petroleum Ltd.)
Contracts; No Defaults. Schedule 4(t(a) attached hereto The Disclosure Letter contains a complete and accurate list, and Stronghold has made available to the Purchaser true and complete copies, list of:
(i) each Applicable Contract that involves performance of services or delivery of goods or materials by the Company of an amount or value in excess of $25,000250,000;
(ii) each Applicable Contract that involves performance of services or delivery of goods or materials to the Company of an amount or value in excess of $250,000;
(iii) each Applicable Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less Business and that involves expenditures or receipts of Stronghold the Company in excess of $25,000250,000;
(iiiiv) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 250,000 and with terms of less than one year);
(ivv) each licensing agreement or other Applicable Contract with respect to patents, trademarks, copyrights, or other intellectual property, including agreements with current or former employees, consultants, or contractors regarding the appropriation or the non-disclosure of any of the Intellectual Property Assets;
(vi) each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold the Company with any other person or entityPerson;
(vvii) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold the Company or any affiliate Affiliate of the foregoing Company or limit the freedom of Stronghold the Company or any affiliate Affiliate of the foregoing Company to engage in any line of business or to compete with any person or entityPerson;
(vi) each employment or consulting agreement of Stronghold;
(viiviii) each Applicable Contract providing for payments to or by any person or entity Person based on sales, purchases, or profits, other than direct payments for goods;
(viiiix) each power of attorney executed by Stronghold that is currently effective and outstanding;
(ixx) each Applicable Contract entered into other than in the ordinary course Ordinary Course of business Business that contains or provides for an express undertaking by Stronghold the Company to be responsible for consequential damages;
(xxi) each Applicable Contract for capital expenditures in excess of $25,000250,000;
(xixii) each written warranty, guaranty, and or other similar undertaking with respect to contractual performance extended by Stronghold the Company other than in the ordinary course Ordinary Course of businessBusiness; and
(xiixiii) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. .
(b) Except as set forth in Schedule 4(t) attached hereto, the Disclosure Letter:
(i) Stronghold neither Seller (and no Related Person of either Seller) has or may acquire any rights under, and neither Seller has or may become subject to any obligation or liability under, any Contract that relates to the business of, or any of the assets owned or used by, the Company; and
(ii) to the Knowledge of Sellers and the Company, no officer, director, agent, employee, consultant, or contractor of the Company is bound by any Contract that purports to limit the ability of such officer, director, agent, employee, consultant, or contractor to (A) engage in or continue any conduct, activity, or practice relating to the business of the Company, or (B) assign to the Company or to any other Person any rights to any invention, improvement, or discovery.
(c) Except as set forth in the Disclosure Letter, each Contract identified or required to be identified in the Disclosure Letter is in full force and effect and is valid and enforceable in accordance with its terms.
(d) Except as set forth in the Disclosure Letter:
(i) the Company is, and at all times since January 1, 1995 has been, in material full compliance with all applicable terms and requirements of each Contract under which such company the Company has or had any obligation or liability or by which such company the Company or any of the assets owned or used by such company the Company is or was bound; ;
(ii) each other person or entity Person that has or had any obligation or liability under any Contract under which Stronghold the Company has or had any rights is, and at all times since January 1, 1995 has been, in material full compliance with all applicable terms and requirements of such Contract; ;
(iii) to the Knowledge of Stronghold, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold the Company or other person or entity Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and and
(iv) Stronghold the Company has not been given to or received from any other person or entity Person, at any time since January 1, 1995, any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t.
(e) attached hereto, there There are no renegotiation renegotiations of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold the Company under current or completed Contracts with any person or entity Person and, to the Knowledge of StrongholdSellers and the Company, no such person or entity Person has made written demand for such renegotiation. .
(f) The Contracts relating to the sale, design, manufacture, or provision of products or services by Stronghold the Company have been entered into in the ordinary course Ordinary Course of business Business and have been entered into without the commission of any act alone or in concert with any other person or entityPerson, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.
Appears in 2 contracts
Samples: Share Exchange Agreement (Melita International Corp), Share Exchange Agreement (Melita International Corp)
Contracts; No Defaults. A. Schedule 4(t3.17(a) attached hereto of the Company Disclosure Schedule contains a complete and accurate listlist (other than Customer License Agreements which are disclosed in Section 3.22.), and Stronghold the Company has made available delivered to the Purchaser Merger Sub and Parent true and complete copies, of:
(i) each Applicable Each Contract that involves performance of services or delivery of goods or materials by the Company or the Subsidiary of an amount or value in excess of Twenty-Five Thousand and No/100 Dollars ($25,00025,000.00);
(ii) Each Contract that involves performance of services or delivery of goods or materials to the Company or the Subsidiary of an amount or value in excess of Twenty-Five Thousand and No/100 Dollars ($25,000.00);
(iii) Except for customer Contracts and inventory and equipment purchase orders incurred in the Ordinary Course of Business, each Applicable Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less Business and that involves expenditures or receipts of Stronghold the Company or the Subsidiary in excess of Twenty-Five Thousand and No/100 Dollars ($25,00025,000.00);
(iiiiv) each Each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than Twenty-Five Thousand and No/100 Dollars ($25,000 25,000.00) and with terms of less than one (1) year)) of the Company or the Subsidiary;
(ivv) each Each collective bargaining agreement and other Contract to or with any labor union or other employee representative of a group of employees relating to the Company or the Subsidiary;
(vi) Each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold the Company or the Subsidiary with any other person or entityPerson;
(vvii) each Applicable Each Contract containing covenants that in any way purport to restrict the business activity of Stronghold the Company or any affiliate of the foregoing Subsidiary or limit the freedom of Stronghold the Company or any affiliate of the foregoing Subsidiary to engage in any line of business or to compete with any person or entityPerson;
(viviii) each employment Each Contract (relating to the Company or consulting agreement of Stronghold;
(viithe Subsidiary) each Applicable Contract providing for payments to or by any person or entity Person based on sales, purchases, or profits, other than direct payments for goods;
(viiiix) each Each power of attorney executed by Stronghold relating to the Company or the Subsidiary that is currently effective and outstanding;
(ix) each Applicable Contract entered into other than in the ordinary course of business that contains or provides for an express undertaking by Stronghold to be responsible for consequential damages;
(x) each Applicable Each Contract relating to the Company or the Subsidiary for capital expenditures in excess of Twenty-Five Thousand and No/100 Dollars ($25,00025,000.00);
(xi) each Each written warranty, guaranty, and or other similar undertaking with respect to contractual performance extended by Stronghold the Company or the Subsidiary other than in the ordinary course Ordinary Course of businessBusiness; and
(xii) each Each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. .
B. Except as set forth in Schedule 4(t3.17(b) attached heretoof the Company Disclosure Schedule, to the Knowledge of the Company, no officer, director, or employee of the Company or the Subsidiary is bound by any Contract that purports to limit the ability of such officer, director or employee to (i) Stronghold isengage in or continue any conduct, activity, or practice relating to the business of the Company or any Subsidiary, as currently conducted or (ii) assign to the Company or any Subsidiary any rights to any invention, improvement, or discovery relating to the business of the Company or any Subsidiary.
C. Except as set forth in Schedule 3.17(c) of the Company Disclosure Schedule, each Contract identified or required to be identified in Schedule 3.17(a) of the Company Disclosure Schedule is in full force and has beeneffect, except as to matters or default which in material the aggregate would not have a Company Material Adverse Effect.
D. Except as set forth in Schedule 3.17(d) of the Company Disclosure Schedule:
(i) The Company and each Subsidiary is in full compliance with all applicable material terms and requirements of each Contract under which Company or such company Subsidiary has or had any obligation or liability or by which Company or such company Subsidiary or any of the assets owned or used by Company or such company Subsidiary is or was bound; , except where the failure to comply with such terms and requirements would not have a Company Material Adverse Effect;
(ii) To the Knowledge of the Company, each other person or entity Person that has or had any obligation or liability under any Contract under which Stronghold the Company has or had any rights is, and has been, is in material full compliance with all applicable material terms and requirements of such Contract; ;
(iii) to To the Knowledge of Strongholdthe Company, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold the Company or other person or entity Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable material Contract, except for events or circumstances which in the aggregate would not have a Company Material Adverse Effect; and and
(iv) Stronghold Neither the Company nor any Subsidiary has not been given to or received from any other person or entity Person, at any time since March 31, 1999, any written notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any material Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t) attached hereto, there .
E. There are no renegotiation of, renegotiations of or attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to the Company or any of Stronghold Subsidiary under current or completed Contracts with any person or entity and, to Person and the Knowledge of Stronghold, no such person or entity Company has made not received any written demand for such renegotiation. The Contracts relating to the sale, design, or provision of products or services by Stronghold have been entered into in the ordinary course of business and have been entered into without the commission of any act alone or in concert with any other person or entity, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.
Appears in 2 contracts
Samples: Merger Agreement (Medical Dynamics Inc), Merger Agreement (Medical Dynamics Inc)
Contracts; No Defaults. Schedule 4(t(a) attached hereto Part 3.17(a) of the Disclosure Letter contains a complete and accurate list, and Stronghold has Sellers have heretofore delivered or made available to the Purchaser Buyer true and complete copies, of:
(i) each Applicable Company Contract that involves performance of services or delivery of goods or materials by the Company of an amount or value in excess of $25,000100,000;
(ii) each Applicable Company Contract that involves performance of services or delivery of goods or materials to the Company of an amount or value in excess of $100,000;
(iii) each Company Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less Business and that involves expenditures or receipts of Stronghold the Company in excess of $25,00050,000;
(iiiiv) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Company Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 50,000 and with terms of less than one year);
(ivv) each licensing agreement or other Company Contract with respect to patents, trademarks, copyrights, or other intellectual property, including agreements with current or former employees, consultants, or contractors regarding the appropriation or the non-disclosure of any of the Intellectual Property Assets;
(vi) each collective bargaining agreement and other Company Contract to or with any labor union or other employee representative of a group of employees;
(vii) each joint venture, partnership, and other Applicable Company Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold the Company with any other person or entityPerson;
(vviii) each Applicable Company Contract containing covenants that in any way purport to restrict the business activity of Stronghold the Company or any affiliate Affiliate of the foregoing Company or limit the freedom of Stronghold the Company or any affiliate Affiliate of the foregoing Company to engage in any line of business or to compete with any person or entityPerson;
(viix) each employment or consulting agreement of Stronghold;
(vii) each Applicable Company Contract providing for payments to or by any person or entity Person based on sales, purchases, or profits, other than direct payments for goods;
(viiix) each power of attorney executed by Stronghold affecting the Company that is currently effective and outstanding;
(ixxi) each Applicable Company Contract entered into other than in the ordinary course Ordinary Course of business Business that contains or provides for an express undertaking by Stronghold the Company to be responsible for consequential damages;
(xxii) each Applicable Company Contract for capital expenditures in excess of $25,00050,000;
(xixiii) each written warranty, guaranty, and or other similar undertaking with respect to contractual performance extended by Stronghold other than in the ordinary course of businessCompany; and
(xiixiv) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. Part 3.17(a) of the Disclosure Letter sets forth reasonably complete details concerning such Contracts (including the parties to the Contracts, the amount of the remaining commitment of the Company under the Contracts) and any oral modifications of the Contracts.
(b) Except as set forth in Schedule 4(tPart 3.17(b) attached hereto, of the Disclosure Letter:
(i) Stronghold To the Knowledge of the Company or Original Shareholders, none of the Sellers (and no Related Person of any Seller) has or may acquire any rights under or has or may become subject to any obligation or liability under, any Contract that relates to the business of, or any of the assets owned or used by, the Company; and
(ii) to the Knowledge of the Company or Original Shareholders, no officer, director, agent, employee, consultant, or contractor of the Company is bound by any Contract that purports to limit the ability of such officer, director, agent, employee, consultant, or contractor to (A) engage in or continue any conduct, activity, or practice relating to the business of the Company, or (B) assign to the Company or to any other Person any rights to any invention, improvement, or discovery.
(c) Except as set forth in Part 3.17(c) of the Disclosure Letter, each Contract identified or required to be identified in Part 3.17(a) of the Disclosure Letter is in full force and effect and is valid and enforceable in accordance with its terms.
(d) Except as set forth in Part 3.17(d) of the Disclosure Letter:
(i) the Company is, and at all times since the date of the respective Contracts (including any Contracts which have been superseded by the present Contracts) has been, in material full compliance with all applicable terms and requirements of each Contract under which such company the Company has or had any obligation or liability or by which such company the Company or any of the assets owned or used by such company the Company is or was bound; bound except where noncompliance will not have a Material Adverse Effect;
(ii) to the Knowledge of the Company or Original Shareholders, each other person or entity Person that has or had any obligation or liability under any Contract under which Stronghold the Company has or had any rights is, and at all times since January 1, 1998, has been, in material full compliance with all applicable terms and requirements of such Contract; ;
(iii) to the Knowledge of Stronghold, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold the Company or any other person or entity Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable ContractCompany Contract except where the consequences of such event will not have a Material Adverse Effect; and and
(iv) Stronghold the Company, since the date of the respective Contracts (including any Contracts which have been superseded by the present Contracts), has not been given or to nor received from any other person or entity Person any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t.
(e) attached hereto, there There are no renegotiation renegotiations of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold the Company under current or completed Contracts with any person or entity Person and, to the Knowledge of Strongholdthe Company or Original Shareholders, no such person or entity Person has made written demand for such renegotiation. .
(f) The Contracts relating to the sale, design, manufacture, or provision of products or services by Stronghold the Company have been entered into in the ordinary course Ordinary Course of business Business and have been entered into without the commission of any act alone or in concert with any other person or entityPerson, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement. To the best of the Original Shareholders' and the Company's Knowledge, all such Contracts can be completed at a profit, within the time specified therein, utilizing only personnel now employed by and assets now owned by the Company.
(g) Except as set forth in Part 3.17(g) of the Disclosure Letter:
(A) the Company has complied with all material terms and conditions of each Government Contract or Government Subcontract, (B) the Company has complied in all material respects with all requirements for all Legal Requirements or agreements pertaining to each Government Contract or Government Subcontract and (C) all representations and certifications executed, acknowledged or set forth in or pertaining to each Government Contract or Government Subcontract were complete and correct in all material respects as of their effective date and the Company has complied in all material respects with all such representations and certifications;
(ii) (A) neither the U.S. Government nor any prime contractor, subcontractor or other Person has notified the Company, either in writing or orally, that the Company has breached or violated any Legal Requirement, certification, representation, clause, provision or other requirement pertaining to any Government Contract or Government Subcontract, (B) no termination for convenience, termination for default, cure notice or show cause notice is currently in effect pertaining to any Government Contract or Government Subcontract, (C) no material cost incurred by the Company pertaining to any Government Contract or Government Subcontract has been questioned or challenged by representatives of the Administrative Contracting Officer or the Defense Contract Audit Agency, has been disallowed by the U.S. Government, or has been or, to the Knowledge of the Company or Original Shareholders, now is, the subject of any investigation, and (D) no amount of money due to the Company, pertaining to any Government Contract or Government Subcontract has been withheld or set off nor has any claim been made to withhold or set off money, and the Company is entitled to all progress payments received with respect thereto;
(iii) (A) to the Knowledge of Company or Original Shareholders, neither the Company nor any of its directors, officers, employees, consultants or agents is or during the past three years has been under administrative, civil or criminal investigation, indictment or information by any Governmental Body with respect to any alleged irregularity, misstatement or omission arising under or relating to any Government Contract or Government Subcontract, and (B) during the past five years, the Company has not conducted or initiated any internal investigation or made a voluntary disclosure to any Governmental Body with respect to any alleged irregularity, misstatement or omission arising under or relating to a Government Contract or Government Subcontract;
(iv) there exist (A) no outstanding claims against the Company, either by any Governmental Body or by any prime contractor, subcontractor, vendor or other Person, arising under or relating to any Government Contract or Government Subcontract and (B) no material disputes between the Company and any Governmental Body under the Contract Disputes Act or any other federal statute or regulation or between the Company and any prime contractor, subcontractor or vendor arising under or relating to any Government Contract or Government Subcontract;
(v) to the Knowledge of Company or Original Shareholders, the Company has no interest in any pending or potential claim against any Governmental Body or any prime contractor, subcontractor or vendor arising under or relating to any Government Contract or Government Subcontract, and Part 3.17(g) of the Disclosure Letter lists each Government Contract or Government Subcontract which is currently under audit by any Governmental Body or any other person that is a party to such Government Contract or Government Subcontract;
(vi) the Company has not been debarred or suspended from participation in the award of contracts with the DOD or any other Governmental Body (excluding for this purpose ineligibility to bid on certain contracts due to generally applicable bidding requirements), there exist no facts or circumstances that would warrant suspension or debarment or the finding of non-responsibility or ineligibility on the part of the Company, no payment has been made by the Company or by any Person on behalf of the Company in connection with any Governmental Contract or Governmental Subcontract in violation of applicable procurement Legal Requirements or in violation of, or requiring disclosure pursuant to, the Foreign Corrupt Practices Act, and the Company's cost accounting and procurement systems and the associated entries reflected in the Company's financial records with respect to the Government Contracts and Government Subcontracts are in compliance in all material respects with all Legal Requirements.
Appears in 2 contracts
Samples: Stock Purchase Agreement (Edo Corp), Stock Purchase Agreement (Edo Corp)
Contracts; No Defaults. (a) Schedule 4(t3.13(a) attached hereto contains a complete and accurate list, and Stronghold Seller has made available to the Purchaser Buyer true and complete copiescopies (excluding certain technical or other contract attachments which are not reasonably necessary for an understanding of the contracts and the terms thereof and the parties’ rights and obligations thereunder), of:
(i) each Applicable Contract that involves performance of services or delivery of goods by a Longhorn Entity or the Business during any 12-month period as of the date of this Agreement of an amount or value, individually or, for a series of related Contracts, in the aggregate, in excess of $2,000,000;
(ii) each Contract that involves performance of services or delivery of goods or materials to a Longhorn Entity or the Business during any 12-month period as of the date of this Agreement, of an amount or value, individually or, for a series of related Contracts, in the aggregate, in excess of $4,000,000;
(iii) each Contract related to a Longhorn Entity or the Business that was not entered into in the Ordinary Course of Business and that involves goods or services of an amount or value in excess of $25,0004,000,000;
(iiiv) each Applicable Contract that was not entered into in lease relating to the ordinary course Real Property Leases and lease of business or is not cancelable by Stronghold or a subsidiary tangible personal property of Stronghold with no penalty upon advance notice of 30 days or less and that involves expenditures or receipts of Stronghold in excess of $25,000;
(iii) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, any Longhorn Entity and other Applicable Contract Contracts, in each case, affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property other assets used in the Business (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments payments, in each case, of less than $25,000 1,000,000 and with terms of less than one year);
(ivv) each material license agreement involving any Longhorn Entity with respect to patents, trademarks, copyrights or other material Intellectual Property used in the Business, excluding licenses for software that is commercially available from a third party pursuant to “shrink wrap,” “click-through” or other standard form license agreements with an individual one-time or annual royalty or license fee of $100,000 or less;
(vi) each joint ventureventure or partnership involving a Longhorn Entity or the Business and each other Contract, partnership, and other Applicable Contract (however named) in each case involving a sharing of profits, losses, costs, costs or liabilities by Stronghold related to the Business with any other person or entityPerson;
(vvii) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold any Longhorn Entity or any affiliate of the foregoing or limit the freedom of Stronghold or any affiliate of the foregoing to engage in any line of business or to compete with any person or entityBusiness;
(viviii) each employment or consulting agreement of Stronghold;
(vii) each Applicable Contract related to the Business providing for payments to or by any person or entity Person based on sales, purchases, purchases or profits, other than direct payments for goods;
(viii) each power of attorney executed by Stronghold that is currently effective and outstandinggoods with a value less than $1,000,000;
(ix) each Applicable Contract entered into other than in related to the ordinary course of business that contains or provides for an express undertaking by Stronghold to be responsible for consequential damages;
(x) each Applicable Contract Business for capital expenditures in excess of $25,0004,000,000 from and after the date of this Agreement;
(x) each Contract entered into or assumed by a Longhorn Entity after January 1, 2007 in which a Longhorn Entity has an obligation in respect of providing for indemnification or purchase price adjustment in connection with any disposition, sale or other transfer of any present or former business or commercial activity and with respect to which any party thereto has continuing material obligations;
(xi) each written warrantyContract that contains a provision involving a change of control of a Longhorn Entity requiring the consent of a third party to, guarantyor giving a third party the right to terminate following, such change of control and that is material to the Longhorn Entities taken as a whole;
(xii) each Contract under which a Longhorn Entity has directly or indirectly guaranteed Indebtedness or Liabilities (other than endorsements for the purpose of collection in the Ordinary Course Of Business) of any Person other than a Longhorn Entity which, individually, is in excess of $1,000,000;
(xiii) each Contract granting any Encumbrance (other than a Permitted Encumbrance) upon any asset, property or right that is material to the Longhorn Entities taken as a whole;
(xiv) each Contract relating to the Business that is a distributor, agency, dealer, sales representative or similar Contract;
(xv) each Contract relating to the Business that is an advertising or marketing Contract and that is material to the Business taken as a whole;
(xvi) each Contract between a Longhorn Entity on the one hand, and other similar undertaking with respect to contractual performance extended by Stronghold Seller or any Affiliate of Seller (other than in a Longhorn Entity) on the ordinary course of businessother hand;
(xvii) each Contract that is for services with any employee, director, or consultant and any such oral agreements which are not terminable at will by a Longhorn Entity; and
(xiixviii) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. .
(b) Except as set forth on Schedule 3.13(b), to the Knowledge of Seller, no officer, director, agent, employee or consultant of any Longhorn Entity is bound by any Contract that purports to limit the ability of such officer, director, agent, employee or consultant to (A) engage in or continue any conduct, activity or practice related to the Business or (B) assign to any other Person any rights to any invention, improvement or discovery related to the Business.
(c) Each Contract identified on Schedule 4(t3.13(a) attached heretois in full force and effect and is valid and enforceable against the Longhorn Entity party thereto and, to the Knowledge of Seller, against each other party thereto in accordance with its terms, except to the extent enforceability may be limited by (i) Stronghold isbankruptcy, insolvency, moratorium, reorganization and has beenother similar laws affecting creditors’ rights generally and (ii) general principles of equity, regardless of whether asserted in a proceeding in equity or at law.
(d) For each Contract identified on Schedule 3.13(a) and except as set forth on Schedule 3.13(d):
(i) each Longhorn Entity is in compliance in all material compliance respects with all applicable terms and requirements of each such Contract under which (other than provisions relating to maintaining the confidentiality of such company has or had any obligation or liability or terms to the extent violated by which disclosures of such company or any terms to prospective purchasers of the assets owned or used by such company is or was bound; Business in connection with the sale of the Business to Buyer);
(ii) to the Knowledge of Seller, each other person or entity Person that has or had any obligation or liability Liability under any such Contract under which Stronghold has or had any rights is, and has been, is in compliance in all material compliance respects with all applicable terms and requirements of such Contract; and
(iii) to the Knowledge of Strongholdsince January 1, 2010, no event Longhorn Entity has occurred given to or circumstance exists that (with or without received from any other Person any written notice or lapse other communication regarding the termination of time) may contravene, conflict with, or result in a any actual or alleged material violation or breach of, or give Stronghold or other person or entity the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and (iv) Stronghold has not been given or received from any other person or entity any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or material default under, any such Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. .
(e) Except as disclosed set forth on Schedule 4(t) attached hereto3.13(e), there are no renegotiation renegotiations of, attempts to renegotiate, or outstanding rights to renegotiate renegotiate, any material amounts paid or payable to any Longhorn Entity in excess of Stronghold $2,000,000 under current or completed Contracts with any person or entity and, remaining to be performed as of the Knowledge date of Stronghold, no such person or entity has made written demand for such renegotiation. The Contracts relating to the sale, design, or provision of products or services by Stronghold have been entered into in the ordinary course of business and have been entered into without the commission of any act alone or in concert with any other person or entity, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirementthis Agreement.
Appears in 2 contracts
Samples: Stock Purchase Agreement (Joy Global Inc), Stock Purchase Agreement (Rowan Companies Inc)
Contracts; No Defaults. Schedule 4(t(a) attached hereto SCHEDULE 4.11 contains a listing of all Contracts described in (i) through (xv) below to which any of the Acquired Companies is a party as of the date hereof. Such listing identifies, among other things, the parties to and the expiration date of the contracts. True, correct and complete and accurate listcopies of contracts (or a summary thereof, and Stronghold has if oral) referred to in clauses (i) through (xv) below have been delivered to or made available to the Purchaser true and complete copies, of:its agents and representatives.
(i) each Applicable Each Contract that which involves performance of services or delivery of goods and/or materials, by or materials to any of the Acquired Companies of an amount or value in excess of $25,00050,000;
(ii) each Applicable Each note, debenture, other evidence of indebtedness, guarantee, loan, letter of credit, surety-bond or financing agreement or instrument or other contract for money borrowed, including any agreement or commitment for future loans, credit or financing;
(iii) Each Contract that was not entered into in the ordinary course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less and that involves expenditures or receipts of Stronghold in excess of $25,000business;
(iiiiv) each Each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 and with terms of less than one year)constituting fixed assets;
(ivv) each joint ventureEach material licensing agreement or other Contract with respect to patents, partnershiptrademarks, copyrights, or other intellectual property, including agreements with current or former employees, consultants or contractors regarding the appropriation or the nondisclosure of Intellectual Property;
(vi) Each Contract to which any employee of any of the Acquired Companies is bound which in any manner purports to (A) restrict such Person's freedom to engage in any line of business or to compete with any other Person, or (B) assign to any other Person its rights to any material invention, improvement, or discovery;
(vii) Each employment agreement, collective bargaining agreement or other Contract to or with any employee or any labor union or other employee representative of a group of employees relating to wages, hours, and other Applicable conditions of employment;
(viii) Each joint venture Contract, partnership agreement, limited liability company agreement or other Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold any of the Acquired Companies with any other person or entityPerson;
(vix) each Applicable Each Contract containing covenants that which in any way purport to restrict any of the Acquired Companies' business activity of Stronghold or any affiliate of the foregoing or purport to limit the freedom of Stronghold or any affiliate of the foregoing Acquired Companies to engage in any line of business or to compete with any person or entityPerson;
(vix) each employment or consulting agreement of Stronghold;
(vii) each Applicable Each Contract providing for payments to or by any person Person or entity based on sales, purchases, purchases or profits, other than direct payments for goods;
(viiixi) each Each power of attorney executed granted by Stronghold that any of the Acquired Companies which is currently effective and outstanding;
(ixxii) each Applicable Each Contract entered into other than under which any of the Acquired Companies is obligated to incur capital expenditures after the date hereof in the ordinary course an aggregate amount in excess of business that contains or provides for an express undertaking by Stronghold to be responsible for consequential damagesFifty Thousand Dollars ($50,000);
(xxiii) each Applicable Contract for capital expenditures in excess of $25,000;
(xi) each Each written warranty, guaranty, and guaranty or other similar undertaking with respect to contractual performance extended by Stronghold other than in any of the ordinary course of business; andAcquired Companies;
(xiixiv) each Each amendment, supplement, and modification (whether oral written or writtenoral) in respect of any of the foregoing. .
(b) Except as set forth in Schedule 4(ton SCHEDULE 4.11, all of the Contracts listed pursuant to paragraph (a) attached hereto, hereof (i) Stronghold isare in full force and effect, and has been, in material compliance with all applicable terms and requirements of each Contract under which such company has or had any obligation or liability or by which such company or any of the assets owned or used by such company is or was bound; (ii) represent the legal, valid and binding obligations of each other person or entity that has or had any obligation or liability under any Contract under which Stronghold has or had any rights is, of the Acquired Companies and has been, are enforceable against each of the Acquired Companies in material compliance accordance with all applicable their terms and requirements of such Contract; (iii) to represent the Knowledge legal, valid and binding obligations of Strongholdthe other parties thereto and are enforceable against such parties in accordance with their terms, no except as may be limited by bankruptcy laws. No condition exists or event has occurred or circumstance exists that (which, with or without notice or lapse of time) may contravenetime or both, conflict with, or result in a material violation or breach of, or give Stronghold or other person or entity the right to declare would constitute a default or exercise any remedy under, a basis for force majeure or to accelerate the maturity claim of excusable delay or performance of, or to cancel, terminate, or modify, any Applicable Contract; and nonperformance under such Contracts.
(ivc) Stronghold has not been given or received from any other person or entity any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed set forth on Schedule 4(t) attached heretoSCHEDULE 4.11, there are no renegotiation renegotiations of, or attempts to renegotiate, or outstanding rights to renegotiate renegotiate, any material amounts paid or payable to any of Stronghold the Acquired Companies under current or completed Contracts Contracts, with any person Person having the contractual or entity andstatutory right to require such renegotiation. Neither Sellers, to nor any of the Knowledge of StrongholdAcquired Companies, no such person or entity has made received any written demand for such renegotiationrenegotiation in respect of any such Contract. The Contracts relating Except as set forth on SCHEDULE 4.11, no customer or government contracting officer has asserted that any material adjustments are required to the sale, design, or provision of products or services by Stronghold have been entered into in the ordinary course of business and have been entered into without the commission terms of any act alone or in concert with any other person or entityContracts.
(d) Except as specifically noted on SCHEDULE 4.11, or any consideration having been paid or promised, that is or would be in violation no consent of any Legal Requirementparty to any such Contract is required in connection with the Transactions.
(e) Except as set forth on SCHEDULE 4.11, to the knowledge of Sellers and the Company, neither Sellers, nor any of the Acquired Companies, has committed any act or omission which would result in, and there has been no occurrence which would give rise to, any material product liability or material liability for breach of warranty on the part of any of the Acquired Companies.
Appears in 2 contracts
Samples: Stock Purchase Agreement (Usinternetworking Inc), Stock Purchase Agreement (Usinternetworking Inc)
Contracts; No Defaults. Schedule 4(t(a) attached hereto contains a SELLERS have made available or shall make available by July 15, 2008, to TOG at Acquired Companies’ Premises true, complete and accurate list, and Stronghold has made available to the Purchaser true and complete correct copies, ofof the following documents, it being understood that any missing Contract does not materially and adversely affect the business of the Acquired Companies:
(i) each Applicable Contract that involves performance of services or delivery of goods or materials by any Acquired Company of an amount or value in excess of $25,000Euro 100,000.00 each;
(ii) each Applicable Contract that was not entered into in the ordinary course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less and that involves expenditures or receipts of Stronghold in excess of $25,000;
(iii) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property that involves the payment by or to any Acquired Company in excess of Euro 100,000.00;
(except personal property leases and installment and conditional sales iii) each licensing agreement or other Contract of any Acquired Company with respect to any Intellectual Property Asset, including agreements having a value per item with current or aggregate payments former employees, consultants, or contractors regarding the appropriation or the non-disclosure of less than $25,000 and with terms of less than one year)any Intellectual Property Asset;
(iv) each collective bargaining agreement and other Contract to or with any labor union or other employee representative of a group of employees and any Acquired Company;
(v) each employment Contract between any Acquired Company with an employee, agent, consultant and/or manager of such Acquired Company;
(vi) each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold any Acquired Company with any other person or entityPerson;
(vvii) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold any Acquired Company or any affiliate either of the foregoing SELLERS or limit the freedom discretion of Stronghold any Acquired Company or any affiliate either of the foregoing SELLERS to engage in any line of business or to compete with any person or entity;
(vi) each employment or consulting agreement of Stronghold;
(vii) each Applicable Contract providing for payments to or by any person or entity based on sales, purchases, or profits, other than direct payments for goodsPerson;
(viii) each power any plan or commitment or arrangement of attorney executed by Stronghold that is currently effective and outstandingany Acquired Company, written or oral, providing for bonuses, pensions, deferred compensation, retirement payments, profit sharing or the like;
(ix) each Applicable Contract entered into other than in the ordinary course of business that contains or provides indebtedness for an express undertaking borrowed money by Stronghold to be responsible for consequential damagesany Acquired Company;
(x) each Applicable Contract for capital expenditures in excess power of $25,000attorney that is currently effective and outstanding with any Acquired Company;
(xi) each written warrantyContract for capital expenditures with any Acquired Company, guaranty, and other similar undertaking with respect to contractual performance extended by Stronghold other than in the ordinary course excess of business; andEuro100,000.00;
(xii) each amendment, supplement, and modification Government Contract;
(whether oral xiii) each Contract whereby any individual purports to release or writtenhold harmless any Acquired Company from any claims; and
(xiv) any other Contract or commitment which calls for the expenditure by any Acquired Company in respect any twelve (12) month period of any of the foregoing. at least Euro 100,000.00.
(b) Except as set forth in Schedule 4(tAttachment 3.17 to this Agreement, none of the SELLERS has acquired nor has rights to acquire any rights under, and neither of the SELLERS has or may become subject to any obligation or liability under, any Contract that relates to the business of, or any of the assets owned or used by, any Acquired Company; and
(c) attached heretoExcept as set forth in Attachment 3.17 to this Agreement, to the Knowledge of the two major shareholders among the SELLERS, each Contract identified or required to be identified in Attachment 3.16 to this Agreement is in full force and effect and is valid and enforceable in accordance with its terms.
(d) Except as set forth in Attachment 3.17 to this Agreement:
(i) Stronghold is, and has been, each Acquired Company is in material compliance with all material applicable terms and requirements of each Contract under which such company Acquired Company has or had any obligation or liability or by which such company Acquired Company or any of the assets owned or used by such company any Acquired Company is or was bound; ;
(ii) to the Knowledge of the two major shareholders among the SELLERS, each other person or entity that has or had any obligation or liability under any Contract under which Stronghold an Acquired Company has or had any material rights is, and has been, is in full compliance in all material compliance respects with all applicable terms and requirements of such Contract; and
(iii) no event has occurred or, to the Knowledge of Strongholdthe two major shareholders among the SELLERS, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold or other person or entity the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and (iv) Stronghold has not been given or received from any other person or entity any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, of any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t) attached hereto, there are no renegotiation of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold under current or completed Contracts with any person or entity and, to the Knowledge of Stronghold, no such person or entity has made written demand for such renegotiation. The Contracts relating to the sale, design, or provision of products or services by Stronghold have been entered into in the ordinary course of business and have been entered into without the commission of any act alone or in concert with any other person or entity, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.
Appears in 2 contracts
Samples: Stock Purchase Agreement (O'Gara Group, Inc.), Stock Purchase Agreement (O'Gara Group, Inc.)
Contracts; No Defaults. (a) Schedule 4(t3.16(a) attached hereto contains a complete and accurate list, and Stronghold Company has made available delivered to the Purchaser Parent true and complete copies, of:
(i) each Applicable Contract that involves performance of services or delivery of goods or materials by Company or a Subsidiary of an amount or value in excess of $25,000;
(ii) each Applicable Contract that was not entered into in the ordinary course involves performance of business services or is not cancelable by Stronghold delivery of goods or materials to Company or a subsidiary Subsidiary of Stronghold with no penalty upon advance notice of 30 days an amount or less and that involves expenditures or receipts of Stronghold value in excess of $25,000;
(iii) each Contract that was not entered into in the Ordinary Course of Business and that involves expenditures or receipts of Company or a Subsidiary in excess of $25,000;
(iv) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property by Company or a Subsidiary (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 and with terms of less than one year);
(ivv) each licensing agreement or other Contract to which Company or a Subsidiary is a party that pertains to patents, trademarks, copyrights, or other intellectual property, including agreements with current or former employees, consultants, or contractors regarding the appropriation or the non-disclosure of any intellectual property;
(vi) each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold Company or a Subsidiary with any other person or entityPerson;
(vvii) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold Company or a Subsidiary or any affiliate Affiliate of the foregoing a Company or limit the freedom of Stronghold Company or a Subsidiary or any affiliate Affiliate of the foregoing a Company to engage in any line of business or to compete with any person or entityPerson;
(viviii) each employment or consulting agreement of Stronghold;
(vii) each Applicable Contract providing for payments to or by any person Company or entity a Subsidiary based on sales, purchases, or profits, other than direct payments for goods;
(viiiix) each power of attorney executed by Stronghold binding on Company or any Subsidiary that is currently effective and outstanding;
(ixx) each Applicable Contract entered into other than in the ordinary course Ordinary Course of business Business that contains or provides for an express undertaking by Stronghold Company or a Subsidiary to be responsible for consequential damages;
(xxi) each Applicable Contract for capital expenditures by Company or a Subsidiary in excess of $25,000;
(xixii) each written warranty, guaranty, and or other similar undertaking with respect to contractual performance extended by Stronghold Company or a Subsidiary other than in the ordinary course Ordinary Course of businessBusiness;
(xiii) each agreement or contract, whether written or verbal, that is a talent or programming agreement or contract or in any way obligates Company to pay any royalty, residual, license fee or other similar payment in respect of any third party’s literary, artistic, trademark, copyright, music performance, master use, synchronization or other similar intellectual property rights or their publicity, privacy or publishing or other similar intellectual property rights; and
(xiixiv) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. .
(b) Except as set forth in Schedule 4(t3.16(b), no officer, director, or employee of Company or any Subsidiary is bound by any Contract that purports to limit the ability of such Person to (A) attached heretoengage in or continue any conduct, activity, or practice relating to the business of Company, or (B) assign to Company or any other Person any rights to any invention, improvement, or discovery.
(c) Except as set forth in Schedule 3.16(c), each Contract listed or required to be listed in Schedule 3.16(a) is in full force and effect and is valid and enforceable in accordance with its terms.
(d) Except as set forth in Schedule 3.16(d):
(i) Stronghold is, each of Company and each Subsidiary is and has been, been in material full compliance with all applicable terms and requirements of each Contract under which such company has listed or had any obligation or liability or by which such company or any of the assets owned or used by such company is or was bound; required to be listed in Schedule 3.16(a);
(ii) each other person party to each Contract listed or entity that has or had any obligation or liability under any Contract under which Stronghold has or had any rights required to be listed in Schedule 3.16(a) is, and has beento Company’s Knowledge, in material full compliance with all applicable terms and requirements of such Contract; ;
(iii) to the Knowledge of Stronghold, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold Company or a Subsidiary or other person or entity Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable ContractContract listed or required to be listed in Schedule 3.16(a); and and
(iv) Stronghold neither Company nor a Subsidiary has not been given to or received from any other person or entity Person, at any time since June 30, 1999, any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is validlisted or required to be listed in Schedule 3.16(a), except for notices of violations, breaches or defaults, the results of which would not result in full force, and binding on and enforceable against the ability for the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed Contract to exercise a right or remedy that could have a material adverse effect on Schedule 4(tCompany or any Subsidiary.
(e) attached heretoTo Company’s Knowledge, there are no renegotiation renegotiations of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to Company or any Subsidiary or with respect to the business of Stronghold Company or a Subsidiary under current or completed Contracts with any person or entity and, to the Knowledge of Stronghold, Person and no such person or entity Person has made written demand for such renegotiation. .
(f) The Contracts relating to the sale, design, manufacture, or provision of products or services by Stronghold Company and the Subsidiaries have been entered into in the ordinary course Ordinary Course of business Business and have been entered into without the commission of any act alone or in concert with any other person or entityPerson, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.
(g) Company is not a party to any Contract with any other Person, nor involved in any discussions or other relations with any other Person, that could give rise to any liability on the part of Parent to such other Person by reason of Company considering, entering into, consummating or performing the Contemplated Transactions or any portion thereof.
Appears in 2 contracts
Samples: Merger Agreement (Summit America Television Inc /Tn/), Merger Agreement (Scripps E W Co /De)
Contracts; No Defaults. Schedule 4(t5.15.1. Except as set forth in SCHEDULE 5.15.1 or as disclosed in this Agreement, no Acquired Company is a party to or bound by: (a) attached hereto contains a complete and accurate list, and Stronghold has made available to any Contract for the Purchaser true and complete copies, of:
purchase or sale of Real Property; (ib) each Applicable any Contract (or group of related or similar Contracts) that involves the future performance of services or delivery of goods or materials of an amount by one or more Acquired Companies with a fair market value in excess of $25,000;
50,000 to any one Person (iiexcept (i) each Applicable any Contract that was not entered into in the ordinary course Ordinary Course of business Business for the sale of goods or materials by the Acquired Company at market prices that is not cancelable represented solely by Stronghold a customer purchase order, an acknowledgment from the Acquired Company, or such other form documents as are ordinarily used to memorialize such a subsidiary of Stronghold with no penalty upon advance notice of transaction or (ii) those Contracts that may be cancelled by the relevant Acquired Company within 30 days without significant penalty, payment or less and other expense or other significant impact on such Acquired Company); (c) any Contract that involves expenditures is an output, requirements or receipts exclusive dealings contract (as such terms are used in Article 2 of Stronghold the Uniform Commercial Code); (d) any Contract that requires or commits any Acquired Company to purchase services, goods, materials or inventory from any Person with a fair market value in excess of $25,000;
50,000 (iii) each leaseexcept any Contract entered into in the Ordinary Course of Business for the purchase of services, rental goods, materials or occupancy agreementinventory by the Acquired Company at market prices that is represented solely by a purchase order, license, installment and conditional sale agreement, and other Applicable Contract affecting an acknowledgement from the ownership of, leasing of, title to, use ofAcquired Company, or such other form documents as are ordinarily used to memorialize such a transaction); (e) any leasehold Guaranty or similar undertaking of the obligations of customers, suppliers, officers, directors, employees, Seller, Affiliates of Seller or others; (f) any collective bargaining or other interest in, agreement with any real or personal property labor union; (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 and with terms of less than one year);
(ivg) each any joint venture, partnership, and partnership or other Applicable Contract (however named) involving a sharing of profits, losses, costs, costs or liabilities by Stronghold any Acquired Company with any other person or entity;
Person; (vh) each Applicable any Contract containing covenants that in any way purport to restrict the business activity of Stronghold or any affiliate of the foregoing Acquired Company or limit the freedom of Stronghold or any affiliate of the foregoing Acquired Company to engage in any line of business or to compete with any person or entity;
Person; (vii) each employment or consulting agreement of Stronghold;
(vii) each Applicable any Contract providing for payments to or by any person or entity Person based on sales, purchases, purchases or profits, other than (x) direct payments for goods;
goods and (viiiy) each power of attorney executed by Stronghold that is currently effective and outstanding;
(ix) each Applicable Contract Contracts entered into other than in the ordinary course Ordinary Course of business Business with employees and other sales personnel paying commissions or bonuses; (j) any Contract which provides for, or relates to, the incurrence by an Acquired Company of Indebtedness; (k) any Contract that contains was not entered into in the Ordinary Course of Business or provides that was entered into at a price or prices materially in excess of, or materially lower than, those currently available; (l) any employment Contract regarding employees performing services for an express undertaking by Stronghold the Business which is not terminable without significant penalty, payment or other expense or other significant impact on the relevant Acquired Company, at any time after the Closing (except for amounts earned or accrued prior to be responsible for consequential damages;
termination); (xm) each Applicable any Contract that involves any agreement or commitment for capital expenditures in excess of $25,000;
250,000 for a single project (xi) each written warranty, guaranty, and other similar undertaking with respect to contractual performance extended by Stronghold other than it being warranted that the commitments for all undisclosed Contracts for such projects do not exceed $500,000 in the ordinary course aggregate); (n) any sale and leaseback arrangements and installment purchase arrangements; (o) any management or operating agreements; (p) any Contracts containing in any case a specific clause or affected by a Legal Requirement giving any Person a party to such Contract the right to renegotiate or require a reduction or increase in prices or the repayment of businessany amount previously paid; and
(xiiq) each amendmentany agreement that restricts the maintenance or incurrence of Indebtedness, supplement, the sale or lease of property or distributions or transfers to shareholders (by dividend or otherwise); (r) any other Contract that materially and modification (whether oral adversely affects the ownership or written) in respect leasing of any of the foregoing. Except as set forth in Schedule 4(t) attached hereto, (i) Stronghold is, and has been, in material compliance with all applicable terms and requirements of each Contract under which such company has Assets or had any obligation maintenance or liability or by which such company or service agreements relating to any of the assets owned or used by such company is or was boundAssets; (iis) each other person or entity that has or had any obligation or liability under any Contract under that involves an account receivable or note receivable of more than $100,000; and (t) any other Contract which Stronghold is material to the Acquired Companies, as a whole.
5.15.2. Seller has furnished or had any rights ismade available to Buyer complete and correct copies of the Contracts listed in SCHEDULES 5.11.2, and has been5.12, 5.13.2 AND 5.15.1, as in material compliance with all applicable terms and requirements effect on the date of such Contract; (iii) this Agreement. Neither the Acquired Companies nor, to the Knowledge of StrongholdSeller, any other party thereto, is in default under any Contract. Each Contract
(i) constitutes a valid and binding obligation of the Acquired Company party thereto and, to the Knowledge of Seller, of each other party thereto; and (ii) is in full force and effect as to the Acquired Company party thereto, and, to the Knowledge of Seller, as to each other party thereto. Except as separately identified on SCHEDULE 5.15.2, no notice to, filing or registration with, or Consent of, any Person is needed in order that the Contracts set forth on SCHEDULES 5.11.2, 5.12, 5.13.2 AND 5.15.1 continue in full force and effect (without breach by the Acquired Companies of, or giving any contractual party a right to terminate or modify such Contract or require the payment of any penalty or other amount in respect of such Contract as a result of the consummation of the Contemplated Transactions) following the consummation of the Contemplated Transactions. No event has occurred or, to the Knowledge of Seller, fact or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, of or give Stronghold any Acquired Company or other person or entity Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, terminate or modify, any Applicable Contract.
5.15.3. Except as set forth in SCHEDULE 5.15.3: (a) neither Seller nor any Related Person of Seller (excluding any of the Acquired Companies) has any rights or obligations under any Contract with an Acquired Company or that relates to the Business of, or any of the Assets owned or used by, an Acquired Company; and (ivb) Stronghold has not been given or received from any other person or entity any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t) attached hereto, there are no renegotiation of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold under current or completed Contracts with any person or entity and, to the Knowledge of StrongholdSeller, no officer, director, agent, or employee of an Acquired Company is bound by any Contract that purports to limit the ability of such person officer, director, agent or entity has made written demand for such renegotiation. The Contracts employee, to (i) engage in or continue any conduct, activity, or practice relating to the sale, designBusiness of the Acquired Company, or provision of products (ii) assign to an Acquired Company or services by Stronghold have been entered into in the ordinary course of business and have been entered into without the commission of any act alone or in concert with to any other person or entityPerson any rights to any invention, improvement, or any consideration having been paid or promised, that is or would be discovery in violation of any Legal Requirementconnection with the Business.
Appears in 2 contracts
Samples: Stock Purchase Agreement (WHX Corp), Stock Purchase Agreement (Worthington Industries Inc)
Contracts; No Defaults. Schedule 4(t(a) attached hereto Part 3.20(a) contains a an accurate and complete and accurate list, and Stronghold Seller has made available delivered to Buyer (or attached to the Purchaser true Disclosure Schedule as required herein) accurate and complete copies, of:
(i) backlog lists of Seller, listing all Seller Contracts that are orders from Business customers on backlog (by customer name, order number, order date, model, selling price, cost, and gross profit) as of the date hereof, updated as of the Closing Date ("Backlog List(s)"), which has been separately attached to the Disclosure Schedule;
(ii) to the extent not listed on Part 3.20
(a) from Section 3.20(a)(i) above, each Applicable Seller Contract that involves performance of services or delivery of goods or materials by or to Seller of an amount or value in excess of twenty-five thousand ($25,000) dollars;
(iiiii) each Applicable Seller Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less Business and that involves expenditures or receipts of Stronghold Seller in excess of ten ($25,00010,000) dollars;
(iiiiv) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Seller Contract affecting the ownership of, leasing of, title to, use of, of or any leasehold or other interest in, in any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than twenty-five thousand ($25,000 25,000) dollars and with terms a term of less than one year);
(ivv) each joint ventureSeller Contract with any labor union or other employee representative of a group of employees relating to wages, partnership, hours and other Applicable conditions of employment;
(vi) each Seller Contract (however named) involving a sharing of profits, losses, costs, costs or liabilities by Stronghold Seller with any other person or entityPerson;
(vvii) each Applicable Seller Contract containing covenants that in any way purport to restrict the business Business activity of Stronghold or any affiliate of the foregoing or limit the freedom of Stronghold or any affiliate of the foregoing Seller to engage in any line of business or to compete with any person or entityPerson;
(viviii) each employment or consulting agreement of Stronghold;
(vii) each Applicable Seller Contract providing for payments to or by any person or entity Person based on sales, purchases, purchases or profits, other than direct payments for goods;
(viiiix) each power of attorney executed by Stronghold of Seller that is currently effective and outstanding;
(ixx) each Applicable Seller Contract entered into other than in the ordinary course Ordinary Course of business Business that contains or provides for an express undertaking by Stronghold Seller to be responsible for consequential damages;
(xxi) each Applicable Seller Contract for capital expenditures in excess of twenty thousand ($25,00020,000) dollars;
(xixii) each Seller Contract not denominated in U.S. dollars;
(xiii) each written warranty, guaranty, and guaranty and/or other similar undertaking with respect to contractual performance extended by Stronghold Seller other than in the ordinary course Ordinary Course of businessBusiness; and
(xiixiv) each amendment, supplement, supplement and modification (whether oral or written) in respect of any of the foregoing. .
(b) Except as set forth in Schedule 4(tPart 3.20(b), no member of Seller has or may acquire any rights under, and no member of Seller has or may become subject to any obligation or liability under, any Contract that relates to the Business or any of the Assets.
(c) attached hereto, Except as set forth in Part 3.20(c):
(i) Stronghold each Seller Contract identified or required to be identified in Part 3.20
(a) and which is to be assigned to or assumed by Buyer under this Agreement is in full force and effect and is valid and enforceable in accordance with its terms and the Backlog List is a complete and correct list of all Business customer orders on backlog as of the Closing Date and such list represents actual, bona fide, outstanding orders of the Business that have not been cancelled on or prior to the Closing Date;
(ii) each Seller Contract identified or required to be identified in Part 3.20(a) and which is being assigned to or assumed by Buyer is assignable by Seller to Buyer without the consent of any other Person; and
(iii) to the Knowledge of Seller, no Seller Contract identified or required to be identified in Part 3.20(a) and which is to be assigned to or assumed by Buyer under this Agreement will upon completion or performance thereof have a Material Adverse Effect on the Business, assets or condition of Seller or the Business to be conducted by Buyer with the Assets.
(d) Except as set forth in Part 3.20(d):
(i) Seller is, and at all times since December 31, 1999, has been, in material compliance with all applicable terms and requirements of each Seller Contract under which such company has or had is being assumed by Buyer except where any obligation or liability or by which such company or any of the assets owned or used by such company is or was bound; noncompliance would not have a Material Adverse Effect;
(ii) to the Knowledge of Seller, each other person or entity Person that has or had any obligation or liability under any Seller Contract under which Stronghold has or had any rights is being assigned to Buyer is, and at all times since December 31, 1999, has been, in material compliance with all applicable terms and requirements of such Contract; ;
(iii) to the Knowledge of StrongholdSeller, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in constitutes a material violation or breach Breach of, or give Stronghold Seller or other person or entity Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or payment under, or to cancel, terminate, terminate or modify, any Applicable Contract; and Seller Contract that is being assigned to or assumed by Buyer;
(iv) Stronghold to the Knowledge of Seller, no event has occurred or circumstance exists under or by virtue of any Seller Contract that (with or without notice or lapse of time) would cause the creation of any Encumbrance affecting any of the Assets; and
(v) Seller has not been given to or received from any other person or entity Person, at any time since December 31, 1999, any notice or other communication (whether oral or written) regarding any actual, alleged, possible, possible or potential violation or breach Breach of, or default under, any Contract. Each Applicable Contract which is valid, in full force, and binding on and enforceable against the other party being assigned to or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(tassumed by Buyer.
(e) attached hereto, there There are no renegotiation renegotiations of, attempts to renegotiate, renegotiate or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold Seller under current or completed Seller Contracts with any person Person having the contractual or entity and, statutory right to the Knowledge of Stronghold, demand or require such renegotiation and no such person or entity Person has made written demand for such renegotiation. The Contracts .
(f) Each Seller Contract relating to the sale, design, manufacture or provision of products or services by Stronghold have Seller has been entered into in the ordinary course Ordinary Course of business Business and have has been entered into without the commission of any act alone or in concert with any other person or entityPerson, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.
(g) No penalty or premium will be imposed upon Buyer for any prepayment of any amount due and/or outstanding under the Line of Credit or any Seller Contract assumed by Buyer at Closing.
Appears in 2 contracts
Samples: Asset Purchase Agreement (Champion Enterprises Inc), Asset Purchase Agreement (Champion Enterprises Inc)
Contracts; No Defaults. Schedule 4(t(a) attached hereto Part 3.17(a) of the Disclosure Letter contains a complete and accurate list, and Stronghold has made available Sellers have delivered to the Purchaser Buyer true and complete copies, of:
(i) each Applicable Contract that involves performance of services or delivery of goods or materials by the Company of an amount or value in excess of $25,000;100,000.
(ii) each Applicable Contract that involves performance of services or delivery of goods or materials to the Company of an amount or value in excess of $10,000:
(iii) each current Insurance Policy;
(iv) each Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less Business and that involves expenditures or receipts of Stronghold the Company in excess of $25,00010,000;
(iiiv) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 10,000, and with terms having an aggregate value of all items having a value per item of less than one year$10,000 items not exceeding $50,000.00);
(ivvi) each licensing agreement or other Contract with respect to patents, trademarks, copyrights, or other intellectual property, including agreements between the Company and current or former employees, consultants, or contractors regarding the appropriation or the non-disclosure of any of the Intellectual Property Assets;
(vii) each collective bargaining agreement and other Contract to or with any labor union or other employee representative of a group of employees;
(viii) each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold the Company with any other person or entityPerson;
(vix) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold or any affiliate of the foregoing Company or limit the freedom of Stronghold or any affiliate of the foregoing Company to engage in any line of business or to compete with any person or entityPerson;
(vix) each employment or consulting agreement of Stronghold;
(vii) each Applicable Contract providing for payments to or by any person or entity Person based on sales, purchases, or profits, other than direct payments for goods;
(viiixi) each power of attorney executed by Stronghold that is currently effective and outstanding;
(ixxii) each Applicable Contract entered into other than in the ordinary course Ordinary Course of business Business that contains or provides for an express undertaking by Stronghold the Company to be responsible for consequential damages;
(xxiii) each Applicable Contract for capital expenditures in excess of $25,00010,000;
(xixiv) each written warranty, guaranty, and or other similar undertaking with respect to contractual performance extended by Stronghold the Company other than in the ordinary course Ordinary Course of businessBusiness; and
(xiixv) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. Except as set , except for change orders which will have no material adverse effect to the Company;.
(b) Part 3.17(b) of the Disclosure Letter is a work in progress schedule setting forth in Schedule 4(t) attached hereto, (i) Stronghold is, and has been, in material compliance with all applicable terms and requirements the total amount of each Contract under which such company has or had any obligation or liability or by which such company or any of the assets owned or used by such company is or was bound; (ii) each other person or entity that has or had any obligation or liability under any Contract under which Stronghold has or had any rights is, contract and has been, in material compliance with all applicable terms and requirements of such Contract; (iii) to the Knowledge of Stronghold, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold or other person or entity the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and (iv) Stronghold has not been given or received from any other person or entity any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except certain information as disclosed on Schedule 4(t) attached hereto, there are no renegotiation of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold under current or completed Contracts with any person or entity and, to the Knowledge of Stronghold, no such person or entity has made written demand for such renegotiation. The Contracts relating to the sale, design, or provision of products or services by Stronghold have been entered into reflected in the ordinary course of business and have been entered into without the commission of any act alone or in concert with any other person or entity, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirementcaptions thereto.
Appears in 2 contracts
Samples: Stock Purchase Agreement (Barone Daren J), Stock Purchase Agreement (Oakhill Sportswear Corp /Ny/)
Contracts; No Defaults. Schedule 4(t(a) attached hereto Part 3.14(a) of the Disclosure Letter contains a complete and accurate list, and Stronghold has made available to the Purchaser true and complete copies, list of:
(i) each Applicable Contract that involves performance of services or delivery of goods or materials of by one or more Acquired Companies with an amount or value annualized run rate in excess of $25,0005,000,000 as of September 30, 1997;
(ii) each Applicable Contract that requires performance of services or delivery of goods or materials to one or more Acquired Companies with an annualized run rate in excess of $1,000,000 as of September 30, 1997;
(iii) each Applicable Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less Business and that involves expenditures or receipts of Stronghold one or more Acquired Companies in excess of $25,00050,000;
(iiiv) each leaselicensing agreement or other Applicable Contract with respect to patents, rental trademarks, copyrights, or occupancy agreementother intellectual property, licenseincluding agreements with current or former employees, installment and conditional sale agreementconsultants, or contractors regarding the appropriation or the non-disclosure of any of the Intellectual Property Intangibles;
(vi) each collective bargaining agreement and other Applicable Contract affecting the ownership of, leasing of, title to, use of, to or with any leasehold labor union or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having employee representative of a value per item or aggregate payments group of less than $25,000 and with terms of less than one year)employees;
(ivvii) each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold any Acquired Company with any other person or entityPerson;
(vviii) each Applicable Contract containing covenants that in any way purport to restrict limit the business activity freedom of Stronghold any Acquired Company or any affiliate of the foregoing or limit the freedom of Stronghold or any affiliate of the foregoing an Acquired Company to engage in any line of business or to compete with any person or entityPerson that materially impairs the business of the Company as presently conducted;
(vi) each employment or consulting agreement of Stronghold;
(viiix) each Applicable Contract providing for payments to or by any person or entity Person based on sales, purchases, or profits, other than direct payments for goodsgoods with a future commitment greater than $100,000;
(viii) each power of attorney executed by Stronghold that is currently effective and outstanding;
(ixx) each Applicable Contract entered into other than in the ordinary course Ordinary Course of business Business that contains or provides for an express undertaking by Stronghold any Acquired Company to be responsible for consequential damagesdamages with respect to which there is a reasonable possibility of damages in excess of $100,000;
(xxi) each Applicable Contract for future capital expenditures in excess of $25,000100,000;
(xixii) each written warranty, guaranty, and or other similar undertaking with respect to contractual performance extended by Stronghold any Acquired Company other than in the ordinary course Ordinary Course of business; andBusiness;
(xiixiv) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. Except as set forth .
(b) Each contract identified or required to be identified in Schedule 4(tPart 3.14(a) attached hereto, of the Disclosure Letter is in full force and effect and is valid and enforceable in accordance with its terms.
(i) Stronghold is, and has been, each Acquired Company is in material compliance with all applicable the terms and requirements of each Contract contract under which such company Acquired Company has or had any obligation or liability or by which such company Acquired Company or any of the assets owned or used by such company Acquired Company is or was bound; ;
(ii) to Seller's Knowledge, each other person or entity Person that has or had any obligation or liability under any Contract contract under which Stronghold an Acquired Company has or had any rights is, and has been, is in material compliance with all applicable the terms and requirements of such Contractcontract; and
(iii) no Acquired Company has given to the Knowledge of Stronghold, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold or other person or entity the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and (iv) Stronghold has not been given or received from any other person or entity Person, at any time from December 31, 1996, any written notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract contract.
(d) Except with respect to contracts with respect to which there is valid, in full force, and binding a reserve on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t) attached heretoClosing Date Balance Sheet, there are no renegotiation pending renegotiations of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold Acquired Company under current or completed Contracts contracts with any person or entity and, to the Knowledge of Stronghold, no such person or entity has made written demand for such renegotiation. The Contracts relating to the sale, design, or provision of products or services by Stronghold have been entered into in the ordinary course of business and have been entered into without the commission of any act alone or in concert with any other person or entity, or any consideration having been paid or promised, that is or would be in violation of any Legal RequirementPerson.
Appears in 1 contract
Contracts; No Defaults. (a) Schedule 4(t) attached hereto 2.9 contains a complete and accurate listlisting of all Contracts described in clauses (i)-(xvii) below to which, as of the date hereof, Agencourt or any of its Subsidiaries is a party or by which any of their material assets may be bound (the “Agencourt Material Contracts”). True, correct and Stronghold has complete copies of contracts referred to in clauses (i)-(xvi) below have been delivered to or made available to the Purchaser true and complete copies, of:Acquiror or its agents or representatives.
(i) Each Contract which involves performance of services or delivery of goods or materials by Agencourt or any of its Subsidiaries of an amount or value in excess of $25,000 and each Applicable Contract that involves performance of services or delivery of goods or materials to Agencourt or any of its Subsidiaries of an amount or value in excess of $25,000;
(ii) each Applicable Each note, debenture, other evidence of Indebtedness, guarantee, loan, credit or financing agreement or instrument or other Contract that was not entered into in the ordinary course of business for money borrowed, including any agreement or is not cancelable by Stronghold commitment for future loans, credit or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less and that involves expenditures or receipts of Stronghold financing in excess of $25,000;
(iii) each Each Contract not in the ordinary course of business involving expenditures or receipts of Agencourt or any of its Subsidiaries in excess of $25,000;
(iv) Each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or involving aggregate payments in excess of less than $25,000 and with terms of less than one year)25,000;
(ivv) each Each licensing agreement or other Contract in excess of $10,000 with respect to Intellectual Property, including agreements with other Persons and agreements with current or former employees, consultants or contractors regarding the acquisition, appropriation, ownership, disposition or nondisclosure of Intellectual Property;
(vi) Each joint ventureventure Contract, partnershippartnership agreement, and limited liability company agreement or any other Applicable Contract (however named) involving a sharing of profits, losses, costs, costs or liabilities by Stronghold Agencourt or its Subsidiaries with any other person or entityPerson;
(vvii) each Applicable Any written warranty or guaranty of the obligations of Persons other than Agencourt or its Subsidiaries or other similar undertaking with respect to contractual performance extended by Agencourt or any of its Subsidiaries other than in the ordinary course of business consistent with past practice;
(viii) Any Contract between or among Agencourt and any Affiliate of Agencourt;
(ix) Any Contract containing covenants that in any way purport to restrict the business activity of Stronghold or any affiliate of the foregoing or limit the freedom or business activities of Stronghold Agencourt or any affiliate of the foregoing its Subsidiaries to engage in any line of business or to compete with any person Person and any Contract to which any officer, or entityto the Knowledge of Agencourt, any director, employee or agent, of Agencourt or any of its Subsidiaries is subject that would prohibit such Person from engaging in or continuing any conduct, activity, or practice relating to the business of Agencourt or its Subsidiaries;
(vix) each Any employment or consulting agreement of StrongholdContracts;
(viixi) each Applicable Contract Any Contracts providing for payments to or by any person or entity Person based on sales, purchases, or profits, other than direct payments for goods;
(viiixii) each Each power of attorney executed by Stronghold that is currently effective and outstanding;
(ixxiii) each Applicable Any collective bargaining agreements with any labor unions or associations representing employees of Agencourt or any of its Subsidiaries;
(xiv) Any Contract with any Governmental Authority other than customer contracts entered into other than in the ordinary course of business consistent with past practice;
(xv) Each Contract entered into that contains or provides for an express undertaking by Stronghold Agencourt or any of its subsidiaries to be responsible for indirect, or special or consequential damages;
(xxvi) each Applicable Each Contract for requiring capital expenditures after the date hereof in an amount in excess of $25,000;
(xi) each written warranty, guaranty, and other similar undertaking with respect to contractual performance extended by Stronghold other than in the ordinary course of business; and
(xiixvii) each Each amendment, supplement, supplement and modification (whether oral or writtenin writing) in respect of any of the foregoing.
(b) Except as set forth on Schedule 2.9, all the Agencourt Material Contracts, as of the date hereof (i) are in full force and effect and (ii) represent the legal, valid and binding obligations of Agencourt or any Subsidiary party thereto and, to the Knowledge of Agencourt, represent the legal, valid and binding obligations of the other parties thereto. Except as set forth in on Schedule 4(t) attached hereto2.9, (i) Stronghold is, and has been, in material compliance with all applicable terms and requirements of each Contract under which such company has or had any obligation or liability or by which such company or any of the assets owned or used by such company is or was bound; (ii) each other person or entity that has or had any obligation or liability under any Contract under which Stronghold has or had any rights is, and has been, in material compliance with all applicable terms and requirements of such Contract; (iii) to the Knowledge of StrongholdAgencourt, no condition or circumstances exists or event has occurred or circumstance exists that (which, with or without notice or lapse of time) may time or both, would contravene, conflict with, or result in a material violation or breach of, of such Agencourt Material Contract or would give Stronghold Agencourt or its Subsidiary or the other person or entity party to the contract the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, of or to cancel, terminate, or modify, exercise any Applicable Contract; and remedy under such Agencourt Material Contracts.
(ivc) Stronghold has not been given or received from any other person or entity any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed set forth on Schedule 4(t) attached hereto2.9, other than in the ordinary course of business consistent with past practice, there are no renegotiation renegotiations of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to Agencourt or any of Stronghold its Subsidiaries under current or completed Contracts with any person or entity and, Person and to the Knowledge of Stronghold, Agencourt no such person or entity Person has made written a demand for such renegotiation. .
(d) The Contracts relating related to the sale, design, delivery of goods or provision the performance of products or services by Stronghold have been were all entered into in the ordinary course of business consistent with past practice and have been entered into without the commission of any act alone or in concert with any other person or entityPerson, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirementfederal, state, local, foreign or other statute, law, ordinance or other legal requirement.
Appears in 1 contract
Contracts; No Defaults. (a) Schedule 4(t) attached hereto 3.14 contains a complete and accurate list, and Stronghold has made available to the Purchaser true and complete copies, list of:
(i) each Applicable Contract that involves performance of services or delivery of goods or materials by Target of an amount or value in excess of $25,00010,000;
(ii) each Applicable Contract that involves performance of services or delivery of goods or materials to Target of an amount or value in excess of $10,000;
(iii) each Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less Business and that involves expenditures or receipts of Stronghold Target in excess of $25,00010,000;
(iiiiv) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 10,000 and with terms of less than one year);
(ivv) each licensing agreement or other Contract with respect to patents, trademarks, copyrights, or other intellectual property, including agreements with current or former employees, consultants, or contractors regarding the appropriation or the non-disclosure of any of the Intellectual Property Assets;
(vi) each collective bargaining agreement and other Contract to or with any labor union or other employee representative of a group of employees;
(vii) each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold Target with any other person or entityPerson;
(vviii) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold Target or any affiliate Affiliate of the foregoing Target or limit the freedom of Stronghold Target or any affiliate Affiliate of the foregoing Target to engage in any line of business or to compete with any person or entityPerson;
(viix) each employment or consulting agreement of Stronghold;
(vii) each Applicable Contract providing for payments to or by any person or entity Person based on sales, purchases, or profits, other than direct payments for goods;
(viiix) each power of attorney executed by Stronghold that is currently effective and outstanding;
(ixxi) each Applicable Contract entered into other than in the ordinary course Ordinary Course of business Business that contains or provides for an express undertaking by Stronghold Target to be responsible for consequential damages;
(xxii) each Applicable Contract for capital expenditures in excess of $25,00010,000;
(xixiii) each written warranty, guaranty, and or other similar undertaking with respect to contractual performance extended by Stronghold Target other than in the ordinary course Ordinary Course of businessBusiness; and
(xiixiv) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. Schedule 3.14 sets forth reasonably complete details concerning such Contracts, including the parties to the Contracts and the amount of the remaining commitment of the Target under the Contracts.
(b) Except as set forth in Schedule 4(t) attached hereto, 3.14:
(i) Stronghold no manager or member of the Target (and no Related Person of the foregoing) has nor may it acquire any rights under, any Contract that relates to the business of, or any of the assets owned or used by, Target; and
(ii) no manager, agent, employee, consultant, or contractor of Target is bound by any Contract that purports to limit the ability of such manager, agent, employee, consultant, or contractor to (A) engage in or continue any conduct, activity, or practice relating to the business of Target, or (B) assign to Target or to any other Person any rights to any invention, improvement, or discovery.
(c) Except as set forth in Schedule 3.14, each Contract identified or required to be identified in Schedule 3.16 is in full force and effect and is valid and enforceable in accordance with its terms.
(d) Except as set forth in Schedule 3.14:
(i) Target is, and at all times since inception has been, in material full compliance with all applicable terms and requirements of each Contract under which such company Target has or had any obligation or liability or by which such company Target or any of the assets owned or used by such company Target is or was bound; ;
(ii) each other person or entity Person that has or had any obligation or liability under any Contract under which Stronghold Target has or had any rights is, and at all times since inception has been, in material full compliance with all applicable terms and requirements of such Contract; ;
(iii) to the Knowledge of Stronghold, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold Target or any other person or entity Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and and
(iv) Stronghold Target has not been given to or received from any other person or entity Person, at any time since inception, any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t.
(e) attached hereto, there There are no renegotiation renegotiations of, attempts to renegotiate, renegotiate or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold Target under current or completed Contracts with any person or entity and, to the Knowledge of Stronghold, Person and no such person or entity Person has made written demand for such renegotiation. The Contracts relating to the sale, design, or provision of products or services by Stronghold have been entered into in the ordinary course of business and have been entered into without the commission of any act alone or in concert with any other person or entity, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.
Appears in 1 contract
Samples: Merger Agreement (Aabb Inc)
Contracts; No Defaults. Schedule 4(t(a) attached hereto Part 3.14 of the Disclosure Letter contains a complete and accurate list, and Stronghold has made available Sellers have delivered to the Purchaser Biomune true and complete copies, of:
(i) each Applicable Contract that involves performance of services or delivery of goods or materials by or for Rockwood of an amount or value in excess of $25,000100,000;
(ii) each Applicable Contract that involves performance of services or delivery of goods or materials to Rockwood of an amount or value in excess of $100,000;
(iii) each Applicable Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less Business and that involves expenditures or receipts of Stronghold Rockwood in excess of $25,000100,000;
(iiiiv) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 100,000 and with terms of less than one year);
(ivv) each licensing agreement or other Applicable Contract with respect to patents, trademarks, copyrights, or other intellectual property, including agreements with current or former employees, consultants, or contractors regarding the appropriation or the non-disclosure of any of the Intellectual Property Assets;
(vi) each collective bargaining agreement and other Applicable Contract to or with any labor union or other employee representative of a group of employees;
(vii) each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold Rockwood with any other person or entityPerson;
(vviii) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold Rockwood or any affiliate Affiliate of the foregoing Rockwood or limit the freedom of Stronghold Rockwood or any affiliate Affiliate of the foregoing Rockwood to engage in any line of business or to compete with any person or entityPerson;
(vi) each employment or consulting agreement of Stronghold;
(viiix) each Applicable Contract providing for payments to or by any person or entity Person based on sales, purchases, or profits, other than direct payments for goods;
(viiix) each power of attorney executed by Stronghold of Rockwood that is currently effective and outstanding;
(ixxi) each Applicable Contract entered into other than in the ordinary course Ordinary Course of business Business that contains or provides for an express undertaking by Stronghold Rockwood to be responsible for consequential damages;
(xxii) each Applicable Contract for capital expenditures expenditures, by Rockwood in excess of $25,000100,000;
(xixiii) each written warranty, guaranty, and /or other similar undertaking with respect to contractual performance extended by Stronghold other than in the ordinary course of businessRockwood; and
(xiixiv) each written amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. .
(b) Except as set forth in Schedule 4(tthe Disclosure Letter, no officer, director, or to the Knowledge of Sellers, any agent, critical employee, consultant, or Representative of Rockwood is bound by any Contract that purports to limit the ability of such officer, director, agent, critical employee, consultant, or Representative to (A) attached heretoengage in or continue any conduct, activity, or practice relating to the Business of Rockwood, or (B) assign to Rockwood or to any other Person any rights to any invention, improvement, or discovery.
(c) Except as set forth in the Disclosure Letter, to the Knowledge of Sellers, each Applicable Contract identified in Part 3.14 of the Disclosure Letter is in full force and effect and is valid and enforceable in accordance with its terms.
(d) Except as set forth in the Disclosure Letter:
(i) Stronghold Rockwood is, and at all times since September 30, 1996 has been, in material compliance with all applicable material terms and requirements of each Applicable Contract under which such company Rockwood has or has had any material obligation or liability or by which such company Rockwood or any of the assets owned or used by such company is or was Rockwood are bound; ;
(ii) to the Knowledge of Sellers, each other person or entity Person that has or had any obligation or liability under any Applicable Contract under which Stronghold Rockwood has or has had any rights is, and has been, is in material compliance with all applicable material terms and requirements of such Applicable Contract; ;
(iii) to the Knowledge of StrongholdSellers, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold Rockwood or other person or entity Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and and
(iv) Stronghold Rockwood has not been given to or received from any other person or entity Person, at any time since December 31, 1996 any written notice or or, to the Knowledge of Sellers, other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Applicable Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t.
(e) attached hereto, there There are no renegotiation renegotiations of, attempts to renegotiate, or outstanding rights to renegotiate any material Material amounts paid or payable to any of Stronghold Rockwood under current or completed Applicable Contracts with any person or entity and, to the Knowledge of Stronghold, Person and no such person or entity Person has made written demand for such renegotiation. .
(f) The Applicable Contracts relating to the sale, design, sale or provision of products or services by Stronghold Rockwood have been entered into in the ordinary course Ordinary Course of business and Business and, to the Knowledge of Sellers, have been entered into without the commission of any act alone or in concert with any other person or entityPerson, or any consideration having been paid or promised, that is or would be in material violation of any Legal Requirement.
Appears in 1 contract
Samples: Securities Purchase Agreement (Biomune Systems Inc)
Contracts; No Defaults. (a) Schedule 4(t3.11(a) attached hereto of the ANI Disclosure Letter contains a complete and accurate list, and Stronghold ANI has made available delivered to the Purchaser Everest true and complete copies, of:
(i) each Applicable Contract that involves performance of services or delivery of goods or materials by one or more Acquired Companies of an amount or value in excess of $25,000150,000;
(ii) each Applicable Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less Business and that involves expenditures or receipts of Stronghold one or more Acquired Companies in excess of $25,000150,000;
(iii) each lease, rental or occupancy agreement, license, installment and conditional sale sales agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 150,000 and with terms of less than one year);
(iv) each licensing agreement or other Applicable Contract with respect to patents, trademarks, copyrights, or other intellectual property, including agreements with current or former employees, consultants, or contractors regarding the appropriation or the non-disclosure of any of the Intellectual Property Assets;
(v) each collective bargaining agreement and other Applicable Contract to or with any labor union or other employee representative of a group of employees;
(vi) each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold any Acquired Company with any other person or entityPerson;
(vvii) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold any Acquired Company or any affiliate Affiliate of the foregoing an Acquired Company or limit the freedom of Stronghold any Acquired Company or any affiliate Affiliate of the foregoing an Acquired Company to engage in any line of business or to compete with any person or entityPerson;
(vi) each employment or consulting agreement of Stronghold;
(viiviii) each Applicable Contract providing for payments to or by any person or entity Person based on sales, purchases, or profitsprofits in excess of $150,000, other than direct payments made to or from NFLI's distributors in the Ordinary Course of Business and for payments for goodsgoods from customers in the Ordinary Course of Business;
(viiiix) each power of attorney executed by Stronghold that is currently effective and outstanding;
(ixx) each Applicable Contract entered into other than in the ordinary course Ordinary Course of business Business that contains or provides for an express undertaking by Stronghold any Acquired Company to be responsible for consequential damages;
(xxi) each Applicable Contract for capital expenditures in excess of $25,000150,000;
(xixii) each written warranty, guaranty, and or other similar undertaking with respect to contractual performance extended by Stronghold any Acquired Company other than in the ordinary course Ordinary Course of businessBusiness of an amount or value in excess of $150,000; and
(xiixiii) each material amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. .
(b) Except as set forth in Schedule 4(t3.11(b) attached hereto, of the ANI Disclosure Letter:
(i) Stronghold isneither ANI (and no Related Person of ANI) has or may acquire any rights under, and ANI has been, in material compliance with all applicable terms and requirements of each Contract under which such company has not or had may not become subject to any obligation or liability or by which such company under, any Contract that relates to the business of, or any of the assets owned or used by such company is or was boundby, any Acquired Company; and
(ii) each other person to ANI's Knowledge, no officer, director, agent, employee, consultant, or entity that has or had contractor of any obligation or liability under Acquired Company is bound by any Contract under which Stronghold has that purports to limit the ability of such officer, director, agent, employee, consultant, or had contractor to:
(A) engage in or continue any conduct, activity, or practice relating to the business of any Acquired Company; or
(B) assign to any Acquired Company or to any other Person any rights isto any invention, and has been, in material compliance with all applicable terms and requirements of such Contract; (iii) to the Knowledge of Stronghold, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict withimprovement, or result discovery.
(c) Except as set forth in a material violation or breach of, or give Stronghold or Schedule 3.11(c) of the ANI Disclosure Letter:
(i) no Acquired Company has received any notice from any other person or entity party to any Contract identified in Schedule 3.11(a) of the right ANI Disclosure Letter that such third party intends to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modifynot renew, any Applicable such Contract; and ;
(ivii) Stronghold has not been given no Acquired Company is in violation of or received from in default under (nor does there exist any other person condition which upon passage of time or entity any the giving of notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential both would cause such a violation or breach of, of or default under) any Contract identified in Schedule 3.11(a) of the ANI Disclosure Letter, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party except for violations or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t) attached hereto, there are no renegotiation of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold under current or completed Contracts with any person or entity and, to the Knowledge of Stronghold, no such person or entity has made written demand for such renegotiation. The Contracts relating to the sale, design, or provision of products or services by Stronghold defaults that would not have been entered into in the ordinary course of business and have been entered into without the commission of any act alone or in concert with any other person or entity, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirementa Material Adverse Effect.
Appears in 1 contract
Samples: Stock Purchase Agreement (Advanced Nutraceuticals Inc/Tx)
Contracts; No Defaults. A. SCHEDULE 3.17(A) of the Company Disclosure Schedule 4(t) attached hereto contains a complete and accurate listlist (other than Customer License Agreements which are disclosed in Section 3.22.), and Stronghold the Company has made available delivered to the Purchaser Merger Sub and Parent true and complete copies, of:
(i) each Applicable Each Contract that involves performance of services or delivery of goods or materials by the Company or the Subsidiary of an amount or value in excess of Twenty-Five Thousand and No/100 Dollars ($25,00025,000.00);
(ii) Each Contract that involves performance of services or delivery of goods or materials to the Company or the Subsidiary of an amount or value in excess of Twenty-Five Thousand and No/100 Dollars ($25,000.00);
(iii) Except for customer Contracts and inventory and equipment purchase orders incurred in the Ordinary Course of Business, each Applicable Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less Business and that involves expenditures or receipts of Stronghold the Company or the Subsidiary in excess of Twenty-Five Thousand and No/100 Dollars ($25,00025,000.00);
(iiiiv) each Each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than Twenty-Five Thousand and No/100 Dollars ($25,000 25,000.00) and with terms of less than one (1) year)) of the Company or the Subsidiary;
(ivv) each Each collective bargaining agreement and other Contract to or with any labor union or other employee representative of a group of employees relating to the Company or the Subsidiary;
(vi) Each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold the Company or the Subsidiary with any other person or entityPerson;
(vvii) each Applicable Each Contract containing covenants that in any way purport to restrict the business activity of Stronghold the Company or any affiliate of the foregoing Subsidiary or limit the freedom of Stronghold the Company or any affiliate of the foregoing Subsidiary to engage in any line of business or to compete with any person or entityPerson;
(viviii) each employment Each Contract (relating to the Company or consulting agreement of Stronghold;
(viithe Subsidiary) each Applicable Contract providing for payments to or by any person or entity Person based on sales, purchases, or profits, other than direct payments for goods;
(viiiix) each Each power of attorney executed by Stronghold relating to the Company or the Subsidiary that is currently effective and outstanding;
(ix) each Applicable Contract entered into other than in the ordinary course of business that contains or provides for an express undertaking by Stronghold to be responsible for consequential damages;
(x) each Applicable Each Contract relating to the Company or the Subsidiary for capital expenditures in excess of Twenty-Five Thousand and No/100 Dollars ($25,00025,000.00);
(xi) each Each written warranty, guaranty, and or other similar undertaking with respect to contractual performance extended by Stronghold the Company or the Subsidiary other than in the ordinary course Ordinary Course of businessBusiness; and
(xii) each Each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. .
B. Except as set forth in Schedule 4(tSCHEDULE 3.17(B) attached heretoof the Company Disclosure Schedule, to the Knowledge of the Company, no officer, director, or employee of the Company or the Subsidiary is bound by any Contract that purports to limit the ability of such officer, director or employee to (i) Stronghold isengage in or continue any conduct, activity, or practice relating to the business of the Company or any Subsidiary, as currently conducted or (ii) assign to the Company or any Subsidiary any rights to any invention, improvement, or discovery relating to the business of the Company or any Subsidiary.
C. Except as set forth in SCHEDULE 3.17(C) of the Company Disclosure Schedule, each Contract identified or required to be identified in SCHEDULE 3.17(A) of the Company Disclosure Schedule is in full force and has beeneffect, except as to matters or default which in material the aggregate would not have a Company Material Adverse Effect.
D. Except as set forth in SCHEDULE 3.17(D) of the Company Disclosure Schedule:
(i) The Company and each Subsidiary is in full compliance with all applicable material terms and requirements of each Contract under which Company or such company Subsidiary has or had any obligation or liability or by which Company or such company Subsidiary or any of the assets owned or used by Company or such company Subsidiary is or was bound; , except where the failure to comply with such terms and requirements would not have a Company Material Adverse Effect;
(ii) To the Knowledge of the Company, each other person or entity Person that has or had any obligation or liability under any Contract under which Stronghold the Company has or had any rights is, and has been, is in material full compliance with all applicable material terms and requirements of such Contract; ;
(iii) to To the Knowledge of Strongholdthe Company, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold the Company or other person or entity Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable material Contract, except for events or circumstances which in the aggregate would not have a Company Material Adverse Effect; and and
(iv) Stronghold Neither the Company nor any Subsidiary has not been given to or received from any other person or entity Person, at any time since March 31, 1999, any written notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any material Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t) attached hereto, there .
E. There are no renegotiation of, renegotiations of or attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to the Company or any of Stronghold Subsidiary under current or completed Contracts with any person or entity and, to Person and the Knowledge of Stronghold, no such person or entity Company has made not received any written demand for such renegotiation. The Contracts relating to the sale, design, or provision of products or services by Stronghold have been entered into in the ordinary course of business and have been entered into without the commission of any act alone or in concert with any other person or entity, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.
Appears in 1 contract
Samples: Agreement and Plan of Merger and Reorganization (Practice Works Inc)
Contracts; No Defaults. (a) Schedule 4(t3.11(a) attached hereto contains of the Disclosure Schedules sets forth a complete and accurate list, and Stronghold the Company has made available to the Purchaser Parent true and complete copies, ofof all executory Contracts of the Company in the following categories:
(i) each Applicable Contract Contracts that involves involve performance of services or delivery of goods or materials by the Company during any twelve (12) month period of an amount or value value, individually or, for a series of related Contracts, in the aggregate, in excess of Five Thousand Dollars ($25,0005,000);
(ii) each Applicable Contract Contracts that was were not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less and that involves expenditures or receipts of Stronghold in excess of $25,000Business;
(iii) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, Leases (including Leases of Tangible Personal Property) of the Company and other Applicable Contract Contracts, in each case, affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments payments, in each case, of less than Five Thousand Dollars ($25,000 5,000) and with terms of less than one year);
(iv) each joint ventureLicensing agreements of the Company, partnershipif any, and other Applicable Contract Contracts, in each case, with respect to patents, trademarks, copyrights or other Intellectual Property as well as the forms of all agreements with current or former employees, consultants or contractors regarding the appropriation of, or the non-disclosure of, any of the Intellectual Property set forth on Schedule 3.10(a) of the Disclosure Schedules;
(v) collective bargaining agreements of the Company and other Contracts, in each case, to or with any labor union or other employee representative of a group of employees and each other written employment or consulting agreement with any employees or consultants;
(vi) joint ventures or partnerships (however named) of the Company and other Contracts, in each case, involving a sharing of profits, losses, costs, costs or liabilities by Stronghold the Company with any other person or entityPerson;
(vvii) each Applicable Contract Contracts containing covenants that in any way purport to restrict the business activity of Stronghold or any affiliate of the foregoing Company or limit the freedom of Stronghold or any affiliate of the foregoing Company to engage in any line of business or to compete with any person Person or entitythat subjects the Company to confidentiality or non-disclosure obligations;
(viviii) each employment or consulting agreement of Stronghold;
(vii) each Applicable Contract Contracts providing for payments to or by any person or entity Person based on sales, purchases, purchases or profits, other than direct payments for goods;
(viiiix) each power powers of attorney executed granted by Stronghold or to the Company that is are currently effective and outstanding;
(ixx) each Applicable Contract Contracts entered into other than in the ordinary course Ordinary Course of business Business that contains contain or provides provide for an express undertaking by Stronghold the Company to be responsible for consequential damages;
(xxi) each Applicable Contract Contracts for capital expenditures relating to the Business in excess of Five Thousand Dollars ($25,0005,000) individually or Ten Thousand Dollars ($10,000) in the aggregate;
(xixii) each written warrantyContracts which, guarantyto the Knowledge of the Company, will result in a material loss to the Company;
(xiii) Contracts between the Company and any of its former or current stockholders or shareholders, directors, officers and employees (other than standard employment agreements previously furnished to or approved by Parent and other than option and warrant agreements with the Company’s officers, directors and employees);
(xiv) written warranties, guaranties, and/or other similar undertaking undertakings with respect to contractual performance extended by Stronghold the Company, other than in the ordinary course Ordinary Course of businessBusiness; and
(xiixv) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. Except as set forth in Schedule 4(t.
(b) attached heretoTo the Knowledge of the Company, no officer, director, agent, employee, consultant or contractor of the Company is bound by any Contract that purports to limit the ability of such officer, director, agent, employee, consultant or contractor to (i) Stronghold engage in or continue any conduct, activity or practice relating to the Business or (ii) assign to the Company or to any other Person any rights to any invention, improvement or discovery.
(c) To the Knowledge of the Company, each Contract set forth on Schedule 3.11(a) of the Disclosure Schedules is in full force and effect and is valid and enforceable in accordance with its terms, except as such enforceability may be limited by bankruptcy, insolvency, moratorium, reorganization or other similar laws affecting creditors’ rights generally and the general principles of equity, regardless of whether asserted in a proceeding in equity or at law.
(d) To the Knowledge of the Company:
(i) the Company is, and at all times has been, in material compliance with all applicable material terms and requirements of each Contract set forth on Schedule 3.11(a) of the Disclosure Schedules under which such company the Company has or had any obligation or liability Liability or by which such company the Company or any of the assets owned or used by such company the Company is or was bound; ;
(ii) each other person or entity Person that has or had any obligation or liability Liability under any Contract set forth on Schedule 3.11(a) of the Disclosure Schedules under which Stronghold the Company has or had any rights is, and has been, in material compliance with all applicable material terms and requirements of such Contract; ;
(iii) to the Knowledge of Stronghold, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold the Company or any other person or entity Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, terminate or modify, any Applicable ContractContract set forth on Schedule 3.11(a) of the Disclosure Schedules; and and
(iv) Stronghold the Company has not been given to or received from any other person or entity Person, any written or, to the Knowledge of the Company, other notice or other communication (whether oral or written) regarding any actual, alleged, possible, possible or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed set forth on Schedule 4(t3.11(a) attached hereto, there of the Disclosure Schedules.
(e) There are no renegotiation renegotiations of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold the Company under current or completed Contracts Contracts, as applicable, with any person or entity and, to the Knowledge of Stronghold, Person and no such person or entity Person has made written demand for such renegotiation. The .
(f) Contracts relating to the sale, design, or provision of products or services by Stronghold the Company have been entered into in the ordinary course Ordinary Course of business Business and have been entered into without the commission of any act alone or in concert with any other person or entityPerson, or any consideration having been paid or promised, that is or would be in violation of any Legal RequirementLaws.
(g) The Company has no reason to believe that the products and services called for by any unfinished Contract cannot be supplied in accordance with the terms of such Contract, including time specifications, and has no reason to believe that any unfinished Contract will upon performance by the Company result in a loss to the Company.
(h) All of the Contracts set forth on Schedule 3.11(a) of the Disclosure Schedules are assignable to the Surviving Corporation without the consent of any other Person, except as specifically noted on Schedule 3.5 of the Disclosure Schedules.
Appears in 1 contract
Samples: Merger Agreement (Tix CORP)
Contracts; No Defaults. Schedule 4(t(a) attached hereto Part 3.16(a) of the Disclosure Letter contains a complete and accurate list, and Stronghold the Company has made available delivered to the Purchaser Barnabus true and complete copies, of:
(i) each Applicable Contract (other than insurance policies procured for clients and customers) that involves performance of services or delivery of goods or materials by the Company of an amount or value in excess of $25,00010,000;
(ii) each Applicable Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less Business and that involves expenditures or receipts of Stronghold the Company in excess of $25,00010,000;
(iii) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property of the Company (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 5,000 and with terms of less than one year);
(iv) each licensing agreement or other Applicable Contract with respect to patents, trademarks, copyrights, or other intellectual property, including agreements with current or former employees, consultants, or contractors regarding the appropriation or the non-disclosure of any of the Intellectual Property Assets;
(v) each collective bargaining agreement and other Applicable Contract to or with any labor union or other employee representative of a group of employees;
(vi) each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold the Company with any other person or entityPerson;
(vvii) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold the Company or any affiliate Affiliate of the foregoing Company or limit the freedom of Stronghold or any affiliate of the foregoing Company to engage in any line of business or to compete with any person or entityPerson;
(viviii) each agreement defining the terms and conditions of employment or consulting agreement for any employee of Strongholdthe Company;
(viiix) each Applicable Contract providing for payments to or by any person or entity Person based on sales, purchases, or profits, other than direct payments for goods;
(viiix) each power of attorney executed by Stronghold that is currently effective and outstanding;
(ixxi) each Applicable Contract entered into other than in the ordinary course Ordinary Course of business Business that contains or provides for an express undertaking by Stronghold the Company to be responsible for consequential damages;
(xxii) each Applicable Contract for capital expenditures in excess of $25,0005,000;
(xixiii) each written warranty, guaranty, and or other similar undertaking with respect to contractual performance extended by Stronghold the Company other than in the ordinary course Ordinary Course of businessBusiness; and
(xiixiv) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. .
(a) of the Disclosure Letter sets forth reasonably complete details concerning such Contracts, including the parties to the Contracts, the amount of the remaining commitment of the Company under the Contracts, and the Company's office where details relating to the Contracts are located.
(b) Except as set forth in Schedule 4(tPart 3.16(b) attached hereto, of the Disclosure Letter:
(i) Stronghold none of the Sellers (and no Related Person of any Seller) has or may acquire any rights under, and none of the Sellers has or may become subject to any obligation or liability under, any Contract that relates to the business of, or any of the assets owned or used by, the Company; and
(ii) To the Knowledge of the Company and the Principal Seller, no officer, director, agent, employee, consultant, or contractor of the Company is bound by any Contract that purports to limit the ability of such officer, director, agent, employee, consultant, or contractor to (A) engage in or continue any conduct, activity, or practice relating to the business of the Company, or (B) assign to the Company or to any other Person any rights to any invention, improvement, or discovery.
(c) To the Knowledge of the Company and the Principal Seller and except as set forth in Part 3.16(c) of the Disclosure Letter, each Contract identified or required to be identified in Part 3.16(a) of the Disclosure Letter is in full force and effect and is valid and enforceable in accordance with its terms.
(d) To the Knowledge of the Company and the Principal Seller and except as set forth in Part 3.16(d) of the Disclosure Letter:
(i) the Company is, and has been, in material full compliance with all applicable terms and requirements of each Contract under which such company the Company has or had any obligation or liability or by which such company Company or any of the assets owned or used by such company the Company is or was bound; ;
(ii) each other person or entity Person that has or had any obligation or liability under any Contract under which Stronghold the Company has or had any rights is, and has been, in material full compliance with all applicable terms and requirements of such Contract; ;
(iii) to the Knowledge of Stronghold, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold the Company or other person or entity Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and and
(iv) Stronghold the Company has not been given to or received from any other person or entity Person, any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t.
(e) attached hereto, there There are no renegotiation renegotiations of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold the Company under current or completed Contracts with any person or entity Person and, to the Knowledge of StrongholdSellers and the Company, no such person or entity Person has made written demand for such renegotiation. .
(f) The Contracts relating to the sale, design, or provision of products or services by Stronghold the Company have been entered into in the ordinary course Ordinary Course of business Business and have been entered into without the commission of any act alone or in concert with any other person or entityPerson, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.
Appears in 1 contract
Contracts; No Defaults. Schedule 4(t(a) attached hereto Part 3.15(a) of the Disclosure Letter contains a complete and accurate list, and Stronghold has made available the Company have delivered to the Purchaser Buyer true and complete copies, of:
(i) each Applicable Contract that involves performance of services or delivery of goods or materials by the Business of an amount or value in excess of $25,0005,000;
(ii) each Applicable Contract that involves performance of services or delivery of goods or materials to the Business of an amount or value in excess of $5,000;
(iii) each Applicable Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less Business and that involves expenditures or receipts of Stronghold the Business in excess of $25,0005,000;
(iiiiv) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 5,000 and with terms of less than one year);
(ivv) each licensing agreement or other Applicable Contract with respect to patents, trademarks, copyrights, or other intellectual property, including agreements with current or former employees, consultants, or contractors regarding the appropriation or the non-disclosure of any of the Intellectual Property Assets;
(vi) each collective bargaining agreement and other Applicable Contract to or with any labor union or other employee representative of a group of employees;
(vii) each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold the Company with any other person or entityPerson;
(vviii) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold or any affiliate of the foregoing Business or limit the freedom of Stronghold or any affiliate of the foregoing Business to engage in any line of business or to compete with any person or entityPerson;
(vi) each employment or consulting agreement of Stronghold;
(viiix) each Applicable Contract providing for payments to or by any person or entity Person based on sales, purchases, or profits, other than direct payments for goods;
(viiix) each power of attorney executed by Stronghold that is currently effective and outstanding;
(ixxi) each Applicable Contract entered into other than in the ordinary course Ordinary Course of business Business that contains or provides for an express undertaking by Stronghold the Business to be responsible for consequential damages;
(xxii) each Applicable Contract for capital expenditures in excess of $25,0005,000;
(xixiii) each written warranty, guaranty, and or other similar undertaking with respect to contractual performance extended by Stronghold the Company other than in the ordinary course Ordinary Course of businessBusiness; and
(xiixiv) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. .
(b) Except as set forth in Schedule 4(tPart 3.15(b) attached heretoof the Disclosure Letter, each Contract identified or required to be identified in Part 3.15(a) of the Disclosure Letter is in full force and effect and is valid and enforceable in accordance with its terms.
(c) Except as set forth in Part 3.15(c) of the Disclosure Letter:
(i) Stronghold the Company is, and at all times has been, in material compliance with all applicable terms and requirements of each Contract under which such company it has or had any obligation or liability or by which such company it or any of the assets owned or used by such company it is or was bound; , and any material non-compliance has been cured;
(ii) each other person or entity Person that has or had any obligation or liability under any Contract under which Stronghold the Company has or had any rights is, and at all times has been, in material compliance with all applicable terms and requirements of such Contract; , and any previous non-compliance has been cured;
(iii) to the Knowledge of Stronghold, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold the Company or other person or entity Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and and
(iv) Stronghold the Company has not been given to or received from any other person or entity Person, at any time, any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t.
(d) attached hereto, there There are no renegotiation renegotiations of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold the Company under current or completed Contracts with any person or entity Person and, to the Knowledge of Strongholdthe Company, no such person or entity Person has made written demand for such renegotiation. The Contracts relating to the sale, design, or provision of products or services by Stronghold have been entered into in the ordinary course of business and have been entered into without the commission of any act alone or in concert with any other person or entity, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.
Appears in 1 contract
Samples: Asset Purchase Agreement (Morrison Health Care Inc)
Contracts; No Defaults. Schedule 4(t(a) attached hereto Part 3.17(a) of the Disclosure Letter contains a complete and accurate list, and Stronghold has made available Sellers have delivered to the Purchaser Buyer true and complete copies, of:
(i) each Applicable Contract that involves performance of services or delivery of goods or materials by one or more Acquired Companies of an amount or value in excess of $25,000;
(ii) each Applicable Contract that was not entered into in the ordinary course involves performance of business services or is not cancelable by Stronghold delivery of goods or a subsidiary materials to one or more Acquired Companies of Stronghold with no penalty upon advance notice of 30 days an amount or less and that involves expenditures or receipts of Stronghold value in excess of $25,000;
(iii) each Applicable Contract that was not entered into in the Ordinary Course of Business and that involves expenditures or receipts of one or more Acquired Companies in excess of $25,000;
(iv) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 10,000 and with terms of less than one year);
(ivv) each licensing agreement or other Applicable Contract with respect to patents, trademarks, copyrights, or other intellectual property, including agreements with current or former employees, consultants, or contractors regarding the appropriation or the non-disclosure of any of the Intellectual Property Assets;
(vi) each collective bargaining agreement and other Applicable Contract to or with any labor union or other employee representative of a group of employees;
(vii) each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold any Acquired Company with any other person or entityPerson;
(vviii) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold any Acquired Company or any affiliate Affiliate of the foregoing an Acquired Company or limit the freedom of Stronghold any Acquired Company or any affiliate Affiliate of the foregoing an Acquired Company to engage in any line of business or to compete with any person or entityPerson;
(vi) each employment or consulting agreement of Stronghold;
(viiix) each Applicable Contract providing for payments to or by any person or entity Person based on sales, purchases, or profits, other than direct payments for goods;
(viiix) each power of attorney executed by Stronghold that is currently effective and outstanding;
(ixxi) each Applicable Contract entered into other than in the ordinary course Ordinary Course of business Business that contains or provides for an express undertaking by Stronghold any Acquired Company to be responsible for consequential damages;
(xxii) each Applicable Contract for capital expenditures in excess of $25,00010,000;
(xixiii) each written warranty, guaranty, and or other similar undertaking with respect to contractual performance extended by Stronghold any Acquired Company other than in the ordinary course Ordinary Course of businessBusiness; and
(xiixiv) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. Part 3.17(a) of the Disclosure Letter sets forth reasonably complete details concerning such Contracts, including the parties to the Contracts, the amount of the remaining commitment of the Acquired Companies under the Contracts, and the Acquired Companies' office where details relating to the Contracts are located.
(b) Except as set forth in Schedule 4(tPart 3.17(b) attached hereto, of the Disclosure Letter:
(i) Stronghold neither Seller (and no Related Person of either Seller) has or may acquire any rights under, and neither Seller has or may become subject to any obligation or liability under, any Contract that relates to the business of, or any of the assets owned or used by, any Acquired Company; and
(ii) [to the Knowledge of Sellers and the Acquired Companies,] no officer, director, agent, employee, consultant, or contractor of any Acquired Company is bound by any Contract that purports to limit the ability of such officer, director, agent, employee, consultant, or contractor to (A) engage in or continue any conduct, activity, or practice relating to the business of any Acquired Company, or (B) assign to any Acquired Company or to any other Person any rights to any invention, improvement, or discovery.
(c) Except as set forth in Part 3.17(c) of the Disclosure Letter, each Contract identified or required to be identified in Part 3.17(a) of the Disclosure Letter is in full force and effect and is valid and enforceable in accordance with its terms.
(d) Except as set forth in Part 3.17(d) of the Disclosure Letter:
(i) each Acquired Company is, and at all times since January 1, 2000, has been, in material full compliance with all applicable terms and requirements of each Contract under which such company Acquired Company has or had any obligation or liability or by which such company Acquired Company or any of the assets owned or used by such company Acquired Company is or was bound; ;
(ii) each other person or entity Person that has or had any obligation or liability under any Contract under which Stronghold an Acquired Company has or had any rights is, and at all times since January 1, 2000 has been, in material full compliance with all applicable terms and requirements of such Contract; ;
(iii) to the Knowledge of Stronghold, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold any Acquired Company or other person or entity Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and and
(iv) Stronghold no Acquired Company has not been given to or received from any other person or entity Person, at any time since December 31, 2005, any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t.
(e) attached hereto, there There are no renegotiation renegotiations of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold Acquired Company under current or completed Contracts with any person or entity Person and, to the Knowledge of StrongholdSellers and the Company, , no such person or entity Person has made written demand for such renegotiation. .
(f) The Contracts relating to the sale, design, manufacture, or provision of products or services by Stronghold the Acquired Companies have been entered into in the ordinary course Ordinary Course of business Business and have been entered into without the commission of any act alone or in concert with any other person or entityPerson, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.
Appears in 1 contract
Samples: Stock Purchase and Shareholders' Agreement (Sibling Entertainment Group, Inc.)
Contracts; No Defaults. Schedule 4(t(a) attached hereto Part 3.17(a) of the Disclosure Letter contains a complete and accurate list, and Stronghold Seller has made available delivered to the Purchaser Buyer true and complete copies, of:
(i) each Applicable Contract that involves performance of services or delivery of goods or materials by one or more Acquired Companies of an amount or value in excess of $25,00050,000;
(ii) each Applicable Contract that involves performance of services or delivery of goods or materials to one or more Acquired Companies of an amount or value in excess of $50,000;
(iii) each Applicable Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less Business and that involves expenditures or receipts of Stronghold one or more Acquired Companies in excess of $25,00050,000;
(iiiiv) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 50,000 and with terms of less than one year);
(ivv) each licensing agreement or other Applicable Contract with respect to patents, trademarks, copyrights, or other intellectual property, including agreements with current or former employees, consultants, or contractors regarding the appropriation or the non-disclosure of any of the Intellectual Property Assets;
(vi) each collective bargaining agreement and other Applicable Contract to or with any labor union or other employee representative of a group of employees;
(vii) each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold any Acquired Company with any other person or entityPerson;
(vviii) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold any Acquired Company or any affiliate Affiliate of the foregoing an Acquired Company or limit the freedom of Stronghold any Acquired Company or any affiliate Affiliate of the foregoing an Acquired Company to engage in any line of business or to compete with any person or entityPerson;
(vi) each employment or consulting agreement of Stronghold;
(viiix) each Applicable Contract providing for payments to or by any person or entity Person based on sales, purchases, or profits, other than direct payments for goods;
(viiix) each power of attorney executed by Stronghold that is currently effective and outstanding;
(ixxi) each Applicable Contract entered into other than in the ordinary course Ordinary Course of business Business that contains or provides for an express undertaking by Stronghold any Acquired Company to be responsible for consequential damages;
(xxii) each Applicable Contract for capital expenditures in excess of $25,00050,000;
(xixiii) each written warranty, guaranty, and or other similar undertaking with respect to contractual performance extended by Stronghold any Acquired Company other than in the ordinary course Ordinary Course of businessBusiness; and
(xiixiv) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. Part 3.17(a) of the Disclosure Letter sets forth reasonably complete details concerning such Contracts, including the parties to the Contracts, the amount of the remaining commitment of the Acquired Companies under the Contracts, and the Acquired Companies’ office where details relating to the Contracts are located.
(b) Except as set forth in Schedule 4(tPart 3.17(b) attached hereto, of the Disclosure Letter:
(i) Stronghold neither Seller (and no Related Person of either Seller) has or may acquire any rights under, and neither Seller has or may become subject to any obligation or liability under, any Contract that relates to the business of, or any of the assets owned or used by, any Acquired Company; and
(ii) to Seller’s Knowledge no officer, director, agent, employee, consultant, or contractor of any Acquired Company is bound by any Contract that purports to limit the ability of such officer, director, agent, employee, consultant, or contractor to (A) engage in or continue any conduct, activity, or practice relating to the business of any Acquired Company, or (B) assign to any Acquired Company or to any other Person any rights to any invention, improvement, or discovery.
(c) Except as set forth in Part 3.17(c) of the Disclosure Letter, to Seller’s Knowledge each Contract identified or required to be identified in Part 3.17(a) of the Disclosure Letter is in full force and effect and is valid and enforceable in accordance with its terms.
(d) Except as set forth in Part 3.17(d) of the Disclosure Letter:
(i) each Acquired Company is, and at all times since January 1, 2005 has been, in material full compliance with all applicable terms and requirements of each Contract under which such company Acquired Company has or had any obligation or liability or by which such company Acquired Company or any of the assets owned or used by such company Acquired Company is or was bound; , except where the failure to be in compliance would not have a material adverse effect on the operation or assets of the Company;
(ii) to Seller’s Knowledge each other person or entity Person that has or had any obligation or liability under any Contract under which Stronghold an Acquired Company has or had any rights is, and at all times since January 1, 2005 has been, in material full compliance with all applicable terms and requirements of such Contract; ;
(iii) to the Knowledge of StrongholdSeller’s Knowledge, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold any Acquired Company or other person or entity Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and and
(iv) Stronghold no Acquired Company has not been given to or received from any other person or entity Person, at any time since January 1, 2005, any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t.
(e) attached hereto, there There are no renegotiation renegotiations of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold Acquired Company under current or completed Contracts with any person or entity and, to the Knowledge of Stronghold, Person and no such person or entity Person has made written demand for such renegotiation. .
(f) The Contracts relating to the sale, design, manufacture, or provision of products or services by Stronghold the Acquired Companies have been entered into in the ordinary course Ordinary Course of business Business and have been entered into without the commission of any act alone or in concert with any other person or entityPerson, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.
Appears in 1 contract
Samples: Stock Purchase Agreement (Allis Chalmers Energy Inc.)
Contracts; No Defaults. (a) Section 3.16(a) of the Disclosure Schedule 4(t) attached hereto contains a complete and accurate list, and Stronghold Seller has made available delivered to the Purchaser TKOG true and complete copies, of:
(i) each Applicable Contract that involves performance of services or delivery of goods or materials by the Company of an amount or value in excess of $25,00050,000 or that is a master agreement for the performance of services or delivery of goods or materials by the Company from time to time over an indefinite period of time;
(ii) each Applicable Contract that was not entered into in involves performance of services or delivery of goods or materials to the ordinary course Company of business an amount or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less and that involves expenditures or receipts of Stronghold value in excess of $25,00050,000;
(iii) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments with unfulfilled obligations in excess of less than $25,000 and with terms of less than one year)50,000;
(iv) each lease agreement with respect to the vehicles used by the Company in the conduct of its business;
(v) each licensing agreement or other Contract with respect to patents, trademarks, copyrights, trade secrets or other intellectual property, including agreements with current or former employees, consultants or contractors regarding the appropriation or the non-disclosure of any intellectual property;
(vi) each collective bargaining agreement and other Contract to or with any labor union or other employee representative of a group of employees;
(vii) each joint venture, partnership, partnership and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold the Company with any other person Person or entityrequiring the Company to make any capital contribution;
(vviii) each Applicable Contract containing covenants a covenant that in any way purport purports to restrict the business activity of Stronghold the Company or any affiliate of the foregoing Seller or limit limits the freedom of Stronghold the Company or any affiliate of the foregoing Seller to engage in any line of business or to compete with any person Person or entityhire any Person or containing any change of control provision;
(viix) each employment or consulting agreement of Strongholdagreement;
(vii) each Applicable Contract providing for payments to or by any person or entity based on sales, purchases, or profits, other than direct payments for goods;
(viiix) each power of attorney executed by Stronghold that is currently effective and outstanding;; and
(ixxi) each Applicable Contract entered into other than in the ordinary course of business that contains or provides for an express undertaking by Stronghold to be responsible for consequential damages;
(x) each Applicable Contract for capital expenditures in excess of $25,000;.
(xib) each written warranty, guaranty, and other similar undertaking with respect to contractual performance extended by Stronghold other than in the ordinary course of business; and
(xii) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. Except as set forth in Section 3.16(b) of the Disclosure Schedule, Seller has not or may not acquire any rights under, and Seller has not or may not become subject to any obligation or liability under, any Contract that relates to the business of, or any of the assets owned or used by, the Company.
(c) Except as set forth in Section 3.16(c) of the Disclosure Schedule, each Contract identified or required to be identified in Section 3.16(a) of the Disclosure Schedule 4(tis in full force and effect and is valid and enforceable against the Company and, to Seller's Knowledge, against the other parties thereto, in accordance with its terms, subject to limitations imposed by bankruptcy, insolvency, reorganization or other laws affecting the rights of creditors generally and subject to general equity principles and to limitations on availability of equitable relief, including specific performance. The Company is not aware, and has not been informed, of any bankruptcy proceedings pending which would affect the enforceability of the Contracts.
(d) attached hereto, Except for the limitations set forth in Section 3.16(c) above and except as set forth in Section 3.16(d) of the Disclosure Schedule:
(i) Stronghold is, and has been, the Company is in material full compliance with all applicable terms and requirements of each Contract under which such company the Company has or had any obligation or liability or by which such company the Company or any of the assets owned or used by such company the Company is or was bound; ;
(ii) to Seller's Knowledge, each other person or entity Person that has or had any obligation or liability under any Contract under which Stronghold the Company has or had any rights is, and has been, is in material full compliance with all applicable terms and requirements of such Contract; and
(iii) to the Knowledge of Stronghold, no event has occurred or and, to Seller's Knowledge, no circumstance exists that (with or without notice or lapse of timetime or both) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold or other person or entity the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and (iv) Stronghold has not been given or received from any other person or entity any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, of any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t) attached hereto, there are no renegotiation of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold under current or completed Contracts with any person or entity and, to the Knowledge of Stronghold, no such person or entity has made written demand for such renegotiation. The Contracts relating to the sale, design, or provision of products or services by Stronghold have been entered into in the ordinary course of business and have been entered into without the commission of any act alone or in concert with any other person or entity, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.
Appears in 1 contract
Samples: Merger Agreement (Kroll O Gara Co)
Contracts; No Defaults. (a) Part 3.17(a) of the Disclosure Schedule 4(t) attached hereto contains a complete and accurate list, and Stronghold has made available Sellers have delivered to the Purchaser Buyer true and complete copies, of:
(i) each Applicable Contract that involves performance of services or delivery of goods or materials by the Company of an amount or value in excess of $25,00010,000;
(ii) each Applicable Contract that involves performance of services or delivery of goods or materials to the Company of an amount or value in excess of $10,000;
(iii) each Applicable Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less Business and that involves expenditures or receipts of Stronghold the Company in excess of $25,00010,000;
(iiiiv) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 10,000 and with terms of less than one year);
(ivv) each licensing agreement or other Applicable Contract with respect to patents, trademarks, copyrights, or other intellectual property, including agreements with current or former employees, consultants, or contractors regarding the appropriation or the non- disclosure of any of the Intellectual Property Assets;
(vi) each collective bargaining agreement and other Applicable Contract to or with any labor union or other employee representative of a group of employees;
(vii) each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold the Company with any other person or entityPerson;
(vviii) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold the Company or any affiliate Affiliate of the foregoing Company or limit the freedom of Stronghold the Company or any affiliate Affiliate of the foregoing Company to engage in any line of business or to compete with any person or entityPerson;
(vi) each employment or consulting agreement of Stronghold;
(viiix) each Applicable Contract providing for payments to or by any person or entity Person based on sales, purchases, or profits, other than direct payments for goods;
(viiix) each power of attorney executed by Stronghold that is currently effective and outstanding;
(ixxi) each Applicable Contract entered into other than in the ordinary course Ordinary Course of business Business that contains or provides for an express undertaking by Stronghold the Company to be responsible for consequential damages;
(xxii) each Applicable Contract for capital expenditures in excess of $25,0002,500;
(xixiii) each written warranty, guaranty, and or other similar undertaking with respect to contractual performance extended by Stronghold the Company other than in the ordinary course Ordinary Course of businessBusiness; and
(xiixiv) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. .
(b) Except as set forth in Schedule 4(tPart 3.17(b) attached hereto, of the Disclosure Schedule:
(i) Stronghold neither Seller (and no Related Person of either Seller) has or may acquire any rights under, and neither Seller has or may become subject to any obligation or liability under, any Contract that relates to the business of, or any of the assets owned or used by, the Company; and
(ii) to the Knowledge of Sellers and the Company, no officer, director, agent, employee, consultant, or contractor of the Company is bound by any Contract that purports to limit the ability of such officer, director, agent, employee, consultant, or contractor to (A) engage in or continue any conduct, activity, or practice relating to the business of the Company, or (B) assign to the Company or to any other Person any rights to any invention, improvement, or discovery.
(c) Except as set forth in Part 3.17(c) of the Disclosure Schedule, each Contract identified or required to be identified in Part 3.17(a) of the Disclosure Schedule is in full force and effect and is valid and enforceable in accordance with its terms.
(d) Except as set forth in Part 3.17(d) of the Disclosure Schedule:
(i) the Company is, and at all times since January 1, 1991 has been, in material full compliance with all applicable terms and requirements of each Contract under which such company the Company has or had any obligation or liability or by which such company the Company or any of the assets owned or used by such company it is or was bound; ;
(ii) each other person or entity Person that has or had any obligation or liability under any Contract under which Stronghold the Company has or had any rights is, and at all times since January 1, 1991 has been, in material full compliance with all applicable terms and requirements of such Contract; ;
(iii) to the Knowledge of Stronghold, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold the Company or other person or entity Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and and
(iv) Stronghold the Company has not been given to or received from any other person or entity Person, at any time since January 1, 1991, any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t.
(e) attached hereto, there There are no renegotiation renegotiations of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold the Company under current or completed Contracts with any person or entity and, to the Knowledge of Stronghold, Person and no such person or entity Person has made written demand for such renegotiation. .
(f) The Contracts relating to the sale, design, manufacture, or provision of products or services by Stronghold the Company have been entered into in the ordinary course Ordinary Course of business Business and have been entered into without the commission of any act alone or in concert with any other person or entityPerson, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.
Appears in 1 contract
Contracts; No Defaults. (a) Schedule 4(t3.17(a) attached hereto contains a complete and accurate list, and Stronghold Seller has made available to the Purchaser Buyer true and complete copies, of:
(i) each Applicable Contract that involves performance of services or delivery of goods or materials by the Company of an amount or value in excess of $25,00010,000 which were not purchase orders received in the Ordinary Course of Business;
(ii) each Applicable Contract that involves performance of services or delivery of goods or materials to the Company of an amount or value in excess of $10,000 which were not purchase orders placed in the Ordinary Course of Business;
(iii) each Applicable Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less Business and that involves expenditures or receipts of Stronghold the Company in excess of $25,00010,000;
(iiiiv) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 10,000 and with terms of less than one year);
(ivv) each licensing agreement or other Applicable Contract with respect to patents, trademarks, copyrights, or other intellectual property, including agreements with current or former employees, consultants, or contractors regarding the appropriation or the non-disclosure of any of the Intellectual Property Assets that is used in and is material to the business of the Company;
(vi) each collective bargaining agreement and other Applicable Contract to or with any labor union or other employee representative of a group of employees;
(vii) each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold the Company with any other person or entityPerson;
(vviii) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold the Company or any affiliate Affiliate of the foregoing Company or limit the freedom of Stronghold the Company or any affiliate Affiliate of the foregoing Company to engage in any line of business or to compete with any person or entityPerson;
(vi) each employment or consulting agreement of Stronghold;
(viiix) each Applicable Contract providing for payments to or by any person or entity Person based on sales, purchases, or profits, other than direct payments for goodsgoods in excess of $10,000.00;
(viiix) each power of attorney executed by Stronghold that is currently effective and outstanding;
(ixxi) each Applicable Contract entered into other than in the ordinary course Ordinary Course of business Business that contains or provides for an express undertaking by Stronghold the Company to be responsible for consequential damages;
(xxii) each Applicable Contract for capital expenditures in excess of $25,00010,000;
(xixiii) each written warranty, guaranty, and or other similar undertaking with respect to contractual performance extended by Stronghold the Company other than in the ordinary course Ordinary Course of businessBusiness; and
(xiixiv) each amendment, supplement, and modification (whether oral or written) written in respect of any of the foregoing. Schedule 3.17(a) sets forth a schedule of such Contracts.
(b) To Seller's Knowledge, except as set forth in Schedule 3.17(b):
(i) Neither Seller nor any Related Person of Seller has or may acquire any rights under, and neither Seller nor any Related Person of Seller has or may become subject to any obligation or liability under, any Contract that relates to the business of, or any of the assets owned or used by, the Company; and
(ii) to the Knowledge of Seller, no officer, director, agent, employee, consultant, or contractor of the Company is bound by any Contract that purports to limit the ability of such officer, director, agent, employee, consultant, or contractor to (A) engage in or continue any conduct, activity, or practice relating to the business of the Company, or (B) assign to the Company or to any other Person any rights to any invention, improvement, or discovery.
(c) Except as set forth in Schedule 4(t3.17(c), to the Knowledge of Seller, each Contract identified or required to be identified in Schedule 3.17(a) attached heretois in full force and effect and is valid and enforceable in accordance with its terms except as may be limited by applicable bankruptcy, reorganization, insolvency or moratorium laws, or other laws affecting the enforcement of creditor's rights or by the principles governing the availability of equitable remedies.
(d) Except as set forth in Schedule 3.17(d) to the Knowledge of Seller:
(i) Stronghold the Company is, and at all times has been, in material full compliance with all applicable terms and requirements of each Contract under which such company the Company has or had any obligation or liability or by which such company the Company or any of the assets owned or used by such company the Company is or was bound; ;
(ii) each other person or entity Person that has or had any obligation or liability under any Contract under which Stronghold the Company has or had any rights is, and at all times has been, in material full compliance with all applicable terms and requirements of such Contract; ;
(iii) to the Knowledge of Stronghold, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold the Company or other person or entity Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable ContractContract for amounts in excess of $10,000; and and
(iv) Stronghold the Company has not been given to or received from any other person or entity Person at any time any notice or other communication (whether oral or written) regarding any actual, alleged, possible, possible or potential material violation or breach of, or default under, any Contract. Each Applicable Contract is valid.
(e) To the Knowledge of Seller, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except except as disclosed set forth on Schedule 4(t3.17(e) attached hereto, there are no renegotiation renegotiations of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold the Company under current or completed Contracts with any person or entity Person and, to the Knowledge of StrongholdSeller, no such person or entity Person has made written demand for such renegotiation. .
(f) The Contracts relating to the sale, design, manufacture, or provision of products or services by Stronghold the Company have been entered into in the ordinary course Ordinary Course of business Business and have been entered into without the commission of any act alone or in concert with any other person or entityPerson, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement. Notwithstanding the representations and warranties made in this Section 3.17, no error or omission shall be deemed a breach hereunder if such error or omission can be cured or remedied without substantial liability to Buyer.
Appears in 1 contract
Contracts; No Defaults. Schedule 4(t(a) attached hereto Part 3.20(a) contains a an accurate and complete and accurate list, and Stronghold Seller has made available delivered to the Purchaser true Buyer accurate and complete (as is in its possession) copies, of:
(i) each Applicable Seller Contract that involves performance of services or delivery of goods or materials by Seller of an amount or value in excess of $25,000250,000;
(ii) each Applicable Seller Contract that involves performance of services or delivery of goods or materials to Seller of an amount or value in excess of $500,000;
(iii) each Seller Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less Business and that involves expenditures or receipts of Stronghold Seller in excess of $25,00050,000;
(iiiiv) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Seller Contract affecting the ownership of, leasing of, title to, use of, of or any leasehold or other interest in, in any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 50,000 and with terms a term of less than one year);
(ivv) each joint ventureSeller Contract with any labor union or other employee representative of a group of employees relating to wages, partnership, hours and other Applicable conditions of employment;
(vi) each Seller Contract with any independent third party relating to the delivery or administration of any employee benefits to Seller’s employees;
(vii) each Contract which is in respect of the employment, compensation or indemnification of a director or executive officer of Seller;
(viii) each Seller Contract (however named) involving a sharing of profits, losses, costs, costs or liabilities by Stronghold Seller with any other person or entityPerson;
(vix) each Applicable Seller Contract containing covenants that in any way purport to restrict the Seller’s business activity of Stronghold or any affiliate of the foregoing or limit the freedom of Stronghold or any affiliate of the foregoing Seller to engage in any line of business or to compete with any person or entityPerson;
(vix) each employment or consulting agreement of Stronghold;
(vii) each Applicable Seller Contract providing for payments to or by any person or entity Person based on sales, purchases, purchases or profits, other than direct payments for goods;
(viiixi) each power of attorney executed by Stronghold of Seller that is currently effective and outstanding;
(ixxii) each Applicable Seller Contract entered into other than in the ordinary course Ordinary Course of business Business that contains or provides for an express undertaking by Stronghold Seller to be responsible for consequential damages;
(xxiii) each Applicable Seller Contract for capital expenditures in excess of $25,000100,000;
(xixiv) each Seller Contract not denominated in U.S. dollars in excess of $100,000;
(xv) each written warranty, guaranty, and guaranty and/or other similar undertaking with respect to contractual performance extended by Stronghold Seller other than in the ordinary course Ordinary Course of businessBusiness;
(xvi) each Contract that provides for the indemnification of any Person or the assumption of any Tax, environmental or other Liability of any Person;
(xvii) each Contract which involves, as parties thereto, Seller, on the one hand, and any of the directors, officers or other Affiliates of Seller or any Person that owns or controls more than ten percent of any class of capital stock or other equity interest of Seller and each such Person’s respective directors, officers or other Affiliates, on the other hand;
(xviii) each Contract which establishes or relates to a joint venture or partnership involving Seller;
(xix) each Contract which constitutes a mortgage, indenture, note, installment obligation or other instrument relating to the borrowing of money or under which it has imposed a security interest on any of the Purchased Assets;
(xx) each Contract which constitutes a guarantee of any obligation of another Person;
(xxi) each other Contract that is material to the Purchased Assets or the operation of the Business and not previously disclosed pursuant to this Section 3.20(a);
(xxii) each Real Property Lease (each of which are deemed to constitute a Seller Contract for the purposes of this Agreement); and
(xiixxiii) each material amendment, supplement, supplement and modification (whether oral or written) in respect of any of the foregoing. Except as set forth in Schedule 4(t) attached hereto, (i) Stronghold is, and has been, in material compliance with all applicable terms and requirements of each Contract under which such company has or had any obligation or liability or by which such company or any of the assets owned or used by such company is or was bound; (ii) each other person or entity that has or had any obligation or liability under any Contract under which Stronghold has or had any rights is, and has been, in material compliance with all applicable terms and requirements of such Contract; (iii) to the Knowledge of Stronghold, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold or other person or entity the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and (iv) Stronghold has not been given or received from any other person or entity any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t) attached hereto, there are no renegotiation of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold under current or completed Contracts with any person or entity and, to the Knowledge of Stronghold, no such person or entity has made written demand for such renegotiation. The Contracts relating to the sale, design, or provision of products or services by Stronghold have been entered into in the ordinary course of business and have been entered into without the commission of any act alone or in concert with any other person or entity, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.
Appears in 1 contract
Contracts; No Defaults. (a) Section 6.17 of the Disclosure Schedule 4(t) attached hereto contains a complete and accurate list, and Stronghold has made available Annex 6.17 to the Purchaser this Agreement contains true and complete copies, of:
(i) each Applicable Contract that involves performance of services or delivery of goods goods, materials or materials products of an amount or value in excess of $25,000;
(ii) each Applicable Contract that was not entered into in involves performance of services or delivery of goods or materials to the ordinary course Company of business an amount or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less and that involves expenditures or receipts of Stronghold value in excess of $25,000;
(iii) each Applicable Contract that was not entered into in the Ordinary Course of Business and that involves expenditures or receipts in excess of $25,000;
(iv) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 15,000 and with terms of less than one year)) ;
(ivv) each licensing agreement or other Applicable Contract with respect to patents, trademarks, copyrights, or other intellectual property, including agreements with current or former employees, consultants, or contractors regarding the appropriation or the non- disclosure of any of the Intellectual Property Assets;
(vi) each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold the Company with any other person or entityPerson;
(vvii) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold or any affiliate of the foregoing Company or limit the freedom of Stronghold or any affiliate of the foregoing Company to engage in any line of business or to compete with any person or entityPerson;
(vi) each employment or consulting agreement of Stronghold;
(viiviii) each Applicable Contract providing for payments to or by any person or entity Person based on sales, purchases, or profits, other than direct payments for goods;
(viiiix) each power of attorney executed by Stronghold that is currently effective and outstanding;
(ixx) each Applicable Contract entered into other than in the ordinary course Ordinary Course of business Business that contains or provides for an express undertaking by Stronghold the Company to be responsible for consequential damages;
(xxi) each Applicable Contract for capital expenditures in excess of $25,000;
(xixii) each written warranty, guaranty, and or other similar undertaking with respect to contractual performance extended by Stronghold other than in the ordinary course Company;
(xiii) each Applicable Contract relating to the distribution of businessthe Company's goods or products; and
(xiixiv) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. .
(b) Except as set forth in Schedule 4(t) attached hereto, Section 6.17 of the Disclosure Schedule:
(i) Stronghold No Related Person of the Company has or may acquire any rights under, and no Related Person of the Company has or may become subject to any obligation or liability under, any Contract that relates to the business of, or any of the assets owned or used by, the Company; and
(ii) No officer, director, agent, employee, consultant, or contractor of the Company is bound by any Contract that purports to limit the ability of such officer, director, agent, employee, consultant, or contractor to (A) engage in or continue any conduct, activity, or practice relating to the business of the Company, or (B) assign to the Company or to any other Person any rights to any invention, improvement, or discovery.
(c) Except as set forth in Section 6.17 of the Disclosure Schedule, each Contract identified or required to be identified in Section 6.17 of the Disclosure Schedule (the "Listed Contracts") is in full force and effect and is valid and enforceable in accordance with its terms.
(d) Except as set forth in Section 6.17 of the Disclosure Schedule:
(i) the Company is, and at all times since January 1, 1992 has been, in material full compliance with all applicable terms and requirements of each Contract under which such company has or had any obligation or liability or by which such company or any of the assets owned or used by such company is or was bound; Listed Contract;
(ii) each other person or entity Person that has or had any obligation or liability under any Listed Contract under which Stronghold has or had any rights isis and at all times since January 1, and 1992 has been, in material full compliance with all applicable terms and requirements of such Listed Contract; ;
(iii) to the Knowledge of Strongholdthe Company, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold the Company or other person or entity Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and and
(iv) Stronghold the Company has not been given to or received from any other person or entity Person, at any time since January 1, 1992, any formal notice or other formal communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Listed Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t.
(e) attached hereto, there There are no renegotiation renegotiations of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold the Company under current or completed Listed Contracts with any person or entity and, to the Knowledge of Stronghold, Person and no such person or entity Person has made written demand for such renegotiation. .
(f) The Contracts relating to the sale, design, manufacture, or provision of products or services by Stronghold the Company have been entered into in the ordinary course Ordinary Course of business Business and have been entered into without the commission of any act alone or in concert with any other person or entityPerson, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.
Appears in 1 contract
Contracts; No Defaults. (i) Schedule 4(t6(q) attached hereto contains a complete and accurate list, and Stronghold the Representative has made available delivered to the Purchaser Buyer true and complete copiescopies of (or, in the case of the three oral contracts listed on such Schedule, descriptions of:):
(i1) each Applicable Contract that involves performance of services or delivery of goods or materials by one or more Acquired Companies of an amount or value in excess of $25,00050,000;
(ii2) each Applicable Contract that was not entered into involves performance of services or delivery of goods or materials to one or more Acquired Companies of an amount or value in the ordinary course excess of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less and $50,000;
(3) each Applicable Contract that involves expenditures or receipts of Stronghold one or more Acquired Companies in excess of $25,00050,000;
(iii4) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 and with terms of less than one year)property;
(iv5) each licensing agreement or other Applicable Contract with respect to patents, trademarks, copyrights, or other intellectual property, including agreements with current or former employees, consultants, or contractors regarding the appropriation or the non-disclosure of any of the Intellectual Property Assets;
(6) each collective bargaining agreement and other Applicable Contract to or with any labor union or other employee representative of a group of employees;
(7) each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold the Company with any other person or entityPerson;
(v) 8) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold any Acquired Company or any affiliate Affiliate of the foregoing any Acquired Company or limit the freedom of Stronghold any Acquired Company or any affiliate Affiliate of the foregoing any Acquired Company to engage in any line of business or to compete with any person or entityPerson;
(vi) each employment or consulting agreement of Stronghold;
(vii9) each Applicable Contract providing for payments to or by any person or entity Person based on sales, purchases, or profits, other than direct payments for goodsgoods or services;
(viii10) each power of attorney executed by Stronghold that is currently effective and outstanding;
(ix11) each Applicable Contract entered into other than in the ordinary course Ordinary Course of business Business that contains or provides for an express undertaking by Stronghold any Acquired Company to be responsible for consequential damages;
(x12) each Applicable Contract for capital expenditures in excess of $25,00050,000;
(xi13) each written warranty, guaranty, and other similar undertaking with respect to contractual performance extended by Stronghold any Acquired Company other than in the ordinary course Ordinary Course of businessBusiness; and
(xii14) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. .
(ii) Schedule 6(q) sets forth reasonably complete details concerning such Contracts, including the parties to the Contracts, the amount of the remaining commitment of the Acquired Companies under the Contracts, and the Acquired Companies’ office where details relating to the Contracts are located.
(iii) Except as set forth in Schedule 4(t6(q):
(1) attached heretono Seller (and no Affiliate of any Seller) has or may acquire any rights under, and no Seller has or may become subject to any obligation or liability under, any Contract that relates to the business of, or any of the assets owned or used by, any Acquired Company; and
(i2) Stronghold no officer, director, agent, employee, consultant, or contractor of any Acquired Company is bound by any Contract that purports to limit the ability of such officer, director, agent, employee, consultant, or contractor to (A) engage in or continue any conduct, activity, or practice relating to the business of any Acquired Company, or (B) assign to any Acquired Company or to any other Person any rights to any invention, improvement, or discovery.
(iv) Except as set forth in Schedule 6(q), each Contract identified or required to be identified in Schedule 6(q) is in full force and effect and is valid and enforceable in accordance with its terms.
(v) Except as set forth in Schedule 6(q):
(1) each Acquired Company is, and at all times has been, in compliance in all material compliance respects with all applicable terms and requirements of each Contract under which such company has or had any obligation or liability or by which such company or any Applicable Contract;
(2) to the Knowledge of the assets owned or used by such company is or was bound; (ii) Principal Shareholders and the Company, each other person or entity Person that has or had any obligation or liability under any Applicable Contract under which Stronghold has or had any rights is, and at all times has been, in compliance in all material compliance respects with all applicable terms and requirements of such Applicable Contract; ;
(iii3) to the Knowledge of Stronghold, no event has occurred or circumstance exists that (with or without notice or lapse of time) may could reasonably be expected to contravene, conflict with, or result in a material violation or breach of, or give Stronghold any Acquired Company or any other person or entity Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and and
(iv4) Stronghold no Acquired Company has not been given to or received from any other person or entity Person any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Applicable Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t.
(vi) attached hereto, there There are no renegotiation renegotiations of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold Acquired Company under current or completed Applicable Contracts with any person or entity and, to the Knowledge of Stronghold, Person and no such person or entity Person has made written demand for such renegotiation. .
(vii) The Applicable Contracts relating to the sale, design, design or provision of products or services by Stronghold the Acquired Companies have been entered into in the ordinary course Ordinary Course of business Business and have been entered into without the commission of any act alone or in concert with any other person or entityPerson, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.
Appears in 1 contract
Contracts; No Defaults. Schedule 4(t(a) attached hereto Part 3.17(a) of the Disclosure Letter contains a complete and accurate list, and Stronghold the Company has made available delivered to the Purchaser UNIT true and complete copies, of:
(i) each Applicable Contract that involves performance of services or delivery of goods or materials by the Company of an amount or value in excess of $25,00010,000;
(ii) each Applicable Contract that involves performance of services or delivery of goods or materials to the Company of an amount or value in excess of $10,000;
(iii) each Applicable Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less Business and that involves expenditures or receipts of Stronghold the Company in excess of $25,00010,000;
(iiiiv) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 10,000 and with terms of less than one year);
(ivv) each licensing agreement or other Applicable Contract with respect to patents, trademarks, copyrights, or other intellectual property, including agreements with current or former employees, consultants, or contractors regarding the appropriation or the non-disclosure of any of the Intellectual Property Assets;
(vi) each collective bargaining agreement and other Applicable Contract to or with any labor union or other employee representative of a group of employees;
(vii) each joint venture, partnership, limited liability company, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold the Company with any other person or entityPerson;
(vviii) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold the Company or any affiliate Related Person of the foregoing Company or limit the freedom of Stronghold the Company or any affiliate Related Person of the foregoing Company to engage in any line of business or to compete with any person or entityPerson;
(vi) each employment or consulting agreement of Stronghold;
(viiix) each Applicable Contract providing for payments to or by any person or entity Person based on sales, purchases, or profits, other than direct payments for goods;
(viiix) each power of attorney executed by Stronghold that is currently effective and outstanding;
(ixxi) each Applicable Contract entered into other than in the ordinary course Ordinary Course of business Business that contains or provides for an express undertaking by Stronghold the Company to be responsible for consequential damages;
(xxii) each Applicable Contract for capital expenditures in excess of $25,00010,000;
(xixiii) each written warranty, guaranty, and or other similar undertaking with respect to contractual performance extended by Stronghold the Company other than in the ordinary course Ordinary Course of businessBusiness; and
(xiixiv) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. Part 3.17(a) of the Disclosure Letter sets forth reasonably complete details concerning such Contracts, including the parties to the Contracts, the amount of the remaining commitment of the Company under the Contracts, and the Company's office where details relating to the Contracts are located.
(b) Except as set forth in Schedule 4(tPart 3.17(b) attached hereto, of the Disclosure Letter:
(i) Stronghold No Shareholders (and no Related Person of any Shareholder) have or may acquire any rights under, and no Shareholders have or may become subject to any obligation or liability under, any Contract that relates to the business of, or any of the assets owned or used by the Company; and
(ii) to the Knowledge of the Shareholders and the Company, no officer, director, agent, employee, consultant, or contractor of the Company is bound by any Contract that purports to limit the ability of such officer, director, agent, employee, consultant, or contractor to (A) engage in or continue any conduct, activity, or practice relating to the business of the Company, or (B) assign to the Company or to any other Person any rights to any invention, improvement, or discovery.
(c) Except as set forth in Part 3.17(c) of the Disclosure Letter, each Contract identified or required to be identified in Part 3.17(a) of the Disclosure Letter is in full force and effect and is valid and enforceable in accordance with its terms.
(d) Except as set forth in Part 3.17(d) of the Disclosure Letter:
(i) the Company is, and at all times since May 31, 1997 has been, in material full compliance with all applicable terms and requirements of each Contract under which such company the Company has or had any obligation or liability or by which such company the Company or any of the assets owned or used by such company the Company is or was bound; ;
(ii) to the Knowledge of the Company each other person or entity Person that has or had any obligation or liability under any Contract under which Stronghold the Company has or had any rights is, and at all times since May 31, 1997 has been, in material full compliance with all applicable terms and requirements of such Contract; ;
(iii) to the Knowledge of Stronghold, the Company no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold the Company or other person or entity Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and and
(iv) Stronghold the Company has not been given to or received from any other person or entity Person, at any time since May 31, 1997, any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t.
(e) attached hereto, there There are no renegotiation renegotiations of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold the Company under current or completed Contracts with any person or entity and, to the Knowledge of Stronghold, Person and no such person or entity Person has made written demand for such renegotiation. .
(f) The Contracts relating to the sale, design, manufacture, or provision of products or services by Stronghold the Company have been entered into in the ordinary course Ordinary Course of business Business and have been entered into without the commission of any act alone or in concert with any other person or entityPerson, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.
Appears in 1 contract
Samples: Merger Agreement (Unit Corp)
Contracts; No Defaults. Schedule 4(t(a) attached hereto Part 3.17(a) of the Disclosure Letter contains a complete and accurate list, and Stronghold Seller has made available delivered to the Purchaser Buyer true and complete copies, of:
(i) each Applicable Contract that involves performance of services or delivery of goods or materials by or to one or more Company of an amount or value in excess of $25,000$ 5,000 (except for the Management Contracts which have been provided to Buyer and not included on the Disclosure Letter);
(ii) each Applicable Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less Business and that involves expenditures or receipts of Stronghold one or more Company in excess of $25,0001,000;
(iii) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 1,000 and with terms of less than one year);
(iv) each licensing agreement or other Applicable Contract with respect to patents, trademarks, copyrights, or other intellectual property, including agreements with current or former employees, consultants, or contractors regarding the appropriation or the non-disclosure of any of the Intellectual Property Assets;
(v) any Applicable Contract to or with any labor union or other employee representative of a group of employees;
(vi) each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold the Company with any other person or entityPerson;
(vvii) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold the Company or any affiliate Affiliate of the foregoing an Company or limit the freedom of Stronghold the Company or any affiliate Affiliate of the foregoing an Company to engage in any line of business or to compete with any person or entityPerson;
(vi) each employment or consulting agreement of Stronghold;
(viiviii) each Applicable Contract providing for payments to or by any person or entity Person based on sales, purchases, or profits, other than direct payments for goods;
(viiiix) each power of attorney executed by Stronghold that is currently effective and outstanding;
(ixx) each Applicable Contract entered into other than in the ordinary course Ordinary Course of business Business that contains or provides for an express undertaking by Stronghold the Company to be responsible for consequential damages;
(xxi) each Applicable Contract for capital expenditures in excess of $25,0001,000;
(xixii) each written warranty, guaranty, and or other similar undertaking with respect to contractual performance extended by Stronghold the Company other than in the ordinary course Ordinary Course of businessBusiness; and
(xiixiii) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. .
(b) Unless set forth in Part 3.17(b) of the Disclosure Letter:
(i) Seller (and no Related Person of Seller) has not entered into any arrangement that provides for current or future acquisition rights nor being subject to any obligation or liability that relates to the business of, or any of the assets owned or used by, the Company; and
(ii) to the Knowledge of Seller and the Company, no officer, director, agent, employee, consultant, or contractor of the Company is bound by any Contract that purports to limit the ability of such officer, director, agent, employee, consultant, or contractor to (A) engage in or continue any conduct, activity, or practice relating to the business of the Company, or (B) assign to the Company or to any other Person any rights to any invention, improvement, or discovery.
(c) Unless set forth in Part 3.17(c) of the Disclosure Letter, each Contract identified or required to be identified in Part 3.17(a) of the Disclosure Letter is in full force and effect and is valid and enforceable in accordance with its terms.
(d) Except as set forth in Schedule 4(tPart 3.17(d) attached hereto, of the Disclosure Letter:
(i) Stronghold isthe Company, and any other Person with any obligation or liability under any Contract, is and at all times since January 1, 2010 has been, in material full compliance with all applicable terms and requirements of each Contract under which such company Company has or had any obligation or liability or by which such company Company or any of the assets owned or used by such company Company is or was bound; ;
(ii) each other person or entity that has or had any obligation or liability under any Contract under which Stronghold has or had any rights is, and has been, in material compliance with all applicable terms and requirements of such Contract; (iii) to the Knowledge of Stronghold, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold the Company or other person or entity Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and and
(iviii) Stronghold no Company has not been given to or received from any other person or entity Person, at any time since January 1, 2010, any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t.
(e) attached hereto, there There are no renegotiation renegotiations of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold the Company under current or completed Contracts with any person or entity and, to the Knowledge of Stronghold, Person and no such person or entity Person has made written demand for such renegotiation. The Contracts relating to the sale, design, or provision of products or services by Stronghold have been entered into in the ordinary course of business and have been entered into without the commission of any act alone or in concert with any other person or entity, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.
Appears in 1 contract
Samples: LLC Ownership Interest Purchase Agreement (Vystar Corp)
Contracts; No Defaults. Schedule 4(t(a) attached hereto Part 3.17(a) of the Disclosure Letter contains a complete and accurate list, and Stronghold Seller has made available delivered to the Purchaser Buyer true and complete copies, of:
(i) each Applicable Contract that involves performance of services or delivery of goods or materials by the Acquired Company of an amount or value in excess of One Thousand US Dollars ($25,0001,000.00);
(ii) each Applicable Contract that involves performance of services or delivery of goods or materials to the Acquired Company of an amount or value in excess of One Thousand US Dollars ($1,000.00);
(iii) each Applicable Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less Business and that involves expenditures or receipts of Stronghold one or more Acquired Company in excess of One Thousand US Dollars ($25,0001,000.00);
(iiiiv) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than One thousand US Dollars ($25,000 1,000.00) and with terms of less than one year);
(ivv) each licensing agreement or other Applicable Contract with respect to patents, trademarks, copyrights, or other intellectual property, including agreements with current or former employees, consultants, or contractors regarding the appropriation or the non-disclosure of any of the Intellectual Property Assets;
(vi) each collective bargaining agreement and other Applicable Contract to or with any labor union or other employee representative of a group of employees;
(vii) each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold the Acquired Company with any other person or entityPerson;
(vviii) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold the Acquired Company or any affiliate the Affiliate of the foregoing Acquired Company or limit the freedom of Stronghold the Acquired Company or any affiliate Affiliate of the foregoing Acquired Company to engage in any line of business or to compete with any person or entityPerson;
(vi) each employment or consulting agreement of Stronghold;
(viiix) each Applicable Contract providing for payments to or by any person or entity Person based on sales, purchases, or profits, other than direct payments for goods;
(viiix) each power of attorney executed by Stronghold that is currently effective and outstanding;
(ixxi) each Applicable Contract entered into other than in the ordinary course Ordinary Course of business Business that contains or provides for an express undertaking by Stronghold the Acquired Company to be responsible for consequential damages;
(xxii) each Applicable Contract for capital expenditures in excess of Five Thousand US Dollars ($25,0005,000.00);
(xixiii) each written warranty, guaranty, and or other similar undertaking with respect to contractual performance extended by Stronghold the Acquired Company other than in the ordinary course Ordinary Course of businessBusiness; and
(xiixiv) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. Part 3.17(a) of the Disclosure Letter sets forth reasonably complete details concerning such Contracts, including the parties to the Contracts, the amount of the remaining commitment of the Acquired Company under the Contracts, and the Acquired Company's office where details relating to the Contracts are located.
(b) Except as set forth in Schedule 4(tPart 3.17(b) attached hereto, of the Disclosure Letter:
(i) Stronghold Seller (and any Related Person of Seller) has not or may not acquire any rights under, and Seller has not or may not become subject to any obligation or liability under, any Contract that relates to the business of, or any of the assets owned or used by, the Acquired Company; and
(ii) no officer, director, participant, agent, employee, consultant, or contractor of the Acquired Company is bound by any Contract that purports to limit the ability of such officer, director, participant, agent, employee, consultant, or contractor to (A) engage in or continue any conduct, activity, or practice relating to the business of the Acquired Company, or (B) assign to the Acquired Company or to any other Person any rights to any invention, improvement, or discovery.
(c) Except as set forth in Part 3.17(c) of the Disclosure Letter, each Contract identified or required to be identified in Part 3.17(a) of the Disclosure Letter is in full force and effect and is valid and enforceable in accordance with its terms.
(d) Except as set forth in Part 3.17(d) of the Disclosure Letter:
(i) the Acquired Company is, and at all times since its formation has been, in material full compliance with all applicable terms and requirements of each Contract under which such company Acquired Company has or had any obligation or liability or by which such company Acquired Company or any of the assets owned or used by such company Acquired Company is or was bound; ;
(ii) each other person or entity Person that has or had any obligation or liability under any Contract under which Stronghold the Acquired Company has or had any rights is, and at all times since its formation has been, in material full compliance with all applicable terms and requirements of such Contract; ;
(iii) to the Knowledge of Stronghold, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold the Acquired Company or other person or entity Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and and
(iv) Stronghold the Acquired Company has not been given to or received from any other person or entity Person, at any time since its formation any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t.
(e) attached hereto, there There are no renegotiation renegotiations of, attempts to renegotiate, renegotiate or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold the Acquired Company under current or completed Contracts with any person or entity and, to the Knowledge of Stronghold, Person and no such person or entity Person has made written demand for such renegotiation. .
(f) The Contracts relating to the sale, design, manufacture, or provision of products or services by Stronghold the Acquired Company have been entered into in the ordinary course Ordinary Course of business Business and have been entered into without the commission of any act alone or in concert with any other person or entityPerson, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.
Appears in 1 contract
Contracts; No Defaults. Schedule 4(t(a) attached hereto Part 3.16(a) of the Disclosure Letter contains a complete and accurate list, and Stronghold has Stockholders have made available to the Purchaser Buyer true and complete copiescopies (or written summaries in the case of oral arrangements), of:
(i) each Applicable Contract that involves performance of services or delivery of goods or materials of by the Company for an amount or having a value in excess of $25,00020,000;
(ii) each Applicable Contract that involves performance of services for, or delivery of goods or materials to the Company for an amount or having a value in excess of $20,000;
(iii) each Applicable Contract that was not entered into in the ordinary course Company's Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less Business and that involves expenditures or receipts of Stronghold the Company in excess of $25,0005,000;
(iiiiv) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract agreement affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 5,000 and with terms of less than one year);
(ivv) each licensing agreement, sales agreement or other Applicable Contract with respect to patents, trademarks, copyrights, or other intellectual property (other than licensing agreements normally accompanying non-material software programs such as WordPerfect(TM) and Quicken(TM));
(vi) each currently effective Applicable Contract with current or former employees, consultants, or contractors regarding the appropriation or the non-disclosure of any of the Intellectual Property Assets; COURIER/BOOK-MART PRESS, INC. STOCK PURCHASE AGREEMENT
(vii) each collective bargaining Applicable Contract and each other Applicable Contract to or with any labor union or other employee representative of a group of employees;
(viii) each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold the Company with any other person or entityPerson;
(vix) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold or the Company or, to the Actual Knowledge of Stockholders, any affiliate Affiliate of the foregoing Company or limit the freedom of Stronghold the Company or any affiliate Affiliate of the foregoing Company to engage in any line of business or to compete with any person or entityPerson;
(vi) each employment or consulting agreement of Stronghold;
(viix) each Applicable Contract providing for payments to or by any person or entity Person based on sales, purchases, or profits, other than direct payments for goods;
(viiixi) each power of attorney executed by Stronghold that is currently effective and outstanding;
(ixxii) each Applicable Contract entered into other than in the ordinary course Company's Ordinary Course of business Business that contains or provides for an express undertaking by Stronghold the Company to be responsible for special, consequential damagesor indirect damages which may exceed $5,000;
(xxiii) each Applicable Contract for capital expenditures in excess of $25,00020,000;
(xixiv) each written warranty, guaranty, and or other similar undertaking with respect to contractual performance extended by Stronghold the Company other than in the ordinary course Company's Ordinary Course of businessBusiness; and
(xiixv) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. .
(a) of the Disclosure Letter sets forth the subject matter of such Contracts, the parties to such Contracts, and (if ascertainable) the amount of the remaining commitment of the Company under such Contracts.
(b) Except as set forth in Schedule 4(tPart 3.16(b) attached heretoof the Disclosure Letter: COURIER/BOOK-MART PRESS, INC. STOCK PURCHASE AGREEMENT
(i) Stronghold no Stockholder (and no Related Person of any Stockholder) has or may acquire any rights under, and no Stockholder has or may become subject to any obligation or liability under, any Applicable Contract; and
(ii) to the Actual Knowledge of Stockholders, no officer, director, agent, employee, consultant, or contractor of the Company is bound by any Contract that purports to limit the ability of such officer, director, agent, employee, consultant, or contractor to (A) compete with the Company or otherwise engage in or continue any conduct, activity, or practice directly relating to such Person's involvement with the business of the Company, or (B) assign to the Company or to any other Person any rights to any invention, improvement, or discovery.
(c) Except as set forth in Part 3.16(c) of the Disclosure Letter, each Contract identified or, to the Actual Knowledge of Stockholders, required to be identified in Part 3.16(a) or 3.16(b) of the Disclosure Letter is in full force and effect and, to the Actual Knowledge of Stockholders, there is no basis for believing that each such Contract is not valid and enforceable in all material respects in accordance with its terms (it being acknowledged by Buyer that any relief seeking specific performance or other equitable remedy may be within the discretion of a court having jurisdiction with respect thereto).
(d) Except as set forth in Part 3.16(d) of the Disclosure Letter:
(i) the Company is, and at all times since October 1, 1995, has been, in compliance in all material compliance respects with all applicable terms and requirements of each Contract under which such company has or had any obligation or liability or by which such company or any of the assets owned or used by such company is or was bound; (ii) each other person or entity that has or had any obligation or liability under any Contract under which Stronghold has or had any rights is, and has been, in material compliance with all applicable terms and requirements of such Contract; (iii) to the Knowledge of Stronghold, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold or other person or entity the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and (iv) Stronghold has not been given or received from any other person or entity any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t) attached hereto, there are no renegotiation of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold under current or completed Contracts with any person or entity andidentified or, to the Actual Knowledge of StrongholdStockholders, no such person required to be identified in Part 3.16(a) or entity has made written demand for such renegotiation. The Contracts relating to the sale, design, or provision of products or services by Stronghold have been entered into in the ordinary course of business and have been entered into without the commission of any act alone or in concert with any other person or entity, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.3.16
Appears in 1 contract
Contracts; No Defaults. Schedule 4(t(a) attached hereto contains a complete and accurate listPart 3.17 of the Disclosure Letter lists, and Stronghold Seller has made available delivered to the Purchaser Buyer true and complete copies, copies of:
(i) each Applicable Contract that involves performance of services or delivery of goods or materials of an amount or value by any Acquired Company in excess of Ten Thousand dollars ($25,00010,000);
(ii) each Applicable Contract that involves performance of services or sales by, or delivery of goods or materials to, an Acquired Company in excess of Ten Thousand dollars ($10,000);
(iii) each Applicable Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less and that involves expenditures or receipts of Stronghold in excess of $25,000Business;
(iiiiv) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, contractor agreement, service or sale agreement and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or in personal property requiring annual payment in excess of Twenty-Five Thousand Dollars (except personal property leases $25,000) or any Real Property, of an Acquired Company, including all assignments, amendments and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 and with terms of less than one year)modifications thereof;
(ivv) each licensing agreement or other Applicable Contract with respect to patents, trademarks, copyrights, or other intellectual property, including agreements with current or former employees, consultants, suppliers or contractors regarding the appropriation or the nondisclosure of any of any of the Acquired Company's intellectual property;
(vi) each collective bargaining agreement and other Applicable Contract to or with any labor union or other employee representative of a group of employees;
(vii) each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold an Acquired Company with any other person or entityPerson;
(vviii) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold or any affiliate of the foregoing an Acquired Company or limit the freedom of Stronghold or any affiliate of the foregoing an Acquired Company to engage in any line of business or to compete with any person or entityPerson;
(vi) each employment or consulting agreement of Stronghold;
(viiix) each Applicable Contract providing for payments to or by any person or entity Person based on sales, purchases, or profits, other than direct payments for goods;
(viiix) each power of attorney executed made by Stronghold an Acquired Company that is currently effective and outstanding;
(ixxi) each Applicable Contract entered into other than in the ordinary course of business that contains or provides for an express undertaking by Stronghold an Acquired Company to be responsible for consequential damages;
(xxii) each Applicable Contract for capital expenditures in excess of Ten Thousand Dollars ($25,00010,000);
(xixiii) each written warranty, guaranty, and or other similar undertaking with respect to contractual performance extended by Stronghold other than in the ordinary course of businessan Acquired Company; and
(xiixiv) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. .
(b) Except as set forth in Schedule 4(tPart 3.17(b) attached hereto, of the Disclosure Letter:
(i) Stronghold Seller has not nor will he acquire any rights under, and Seller has not nor will he become subject to any obligation or liability under, any material Contract that relates to the business of, or any of the assets owned or used by, an Acquired Company; and
(ii) no officer, director, agent, employee, consultant, or contractor of an Acquired Company is bound by any Contract that purports to limit the ability of such officer, director, agent, employee, consultant, or contractor to (A) engage in or continue any conduct, activity, or practice relating to the business of an Acquired Company, or (B) assign to an Acquired Company or to any other Person any rights to any invention, improvement, or discovery.
(c) Except as set forth in Part 3.17(c) of the Disclosure Letter, each Applicable Contract of the Acquired Companies listed in Part 3.17(c) of the Disclosure Letter is in full force and effect and is valid and enforceable in accordance with its terms. Seller has disclosed all material oral or written contracts with contractors, subcontractors or suppliers with which any Acquired Company does business, and such Acquired Company is not in default of any such Contracts. All Contracts directly applicable to such Acquired Company's business and necessary for the continued conduct of such Acquired Company's business after the Closing in substantially the same manner as conducted prior to the Closing are in the name of the Acquired Companies and not in the name of Seller or any other Person instead of the Acquired Companies.
(d) Except as set forth in Part 3.17(d) of the Disclosure Letter:
(i) each Acquired Company is, and at all times since December 31,1999, has been, in material compliance with all applicable terms and requirements of each material Contract under which such company the Acquired Company has or had any obligation or liability or by which such company the Acquired Company or any of the assets owned or used by such company the Acquired Company is or was bound; ;
(ii) to the Knowledge of Seller and each Acquired Company, each other person or entity Person that has or had any obligation or liability under any Contract under which Stronghold any Acquired Company has or had any rights is, and at all times since December 31, 1999, has been, in material full compliance with all applicable terms and requirements of such Contract; ;
(iii) to the Knowledge of StrongholdSeller and each Acquired Company, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold any Acquired Company or other person or entity Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and and
(iv) Stronghold no Acquired Company has not been given to or received from any other person or entity Person, at any time since December 31, 1999, any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t.
(e) attached hereto, there There are no renegotiation renegotiations of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold Acquired Company under current or completed Contracts with any person or entity Person and, to the Knowledge of StrongholdSeller and each Acquired Company, no such person or entity Person has made written any demand for such renegotiation. .
(f) The Applicable Contracts relating to the sale, design, or provision of products or services by Stronghold have been entered into in the ordinary course Ordinary Course of business Business and have been entered into without the commission of any act alone or in concert with any other person or entityPerson, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.
(g) Part 3.17(g) of the Disclosure Letter sets forth an accurate and complete list of all Real Property leases, subleases, licenses and use agreements (collectively, the "Real Estate Leases") pursuant to which Seller and/or an Acquired Company is a party, which Exhibit specifies for each such Real Estate Lease (i) the type of agreement and parties thereto (e.g., lease, sublease, license or use agreement), (ii) the address and store number of the Real Property affected thereby, (iii) the term commencement, expiration and rent commencement dates, (iv) the rent payable, (v) the terms of any renewal, expansion or purchase option, or offer or first refusal rights, (vi) the terms of any cancellation or termination rights (other than for default, casualty or condemnation), and (vii) any security deposit and guaranty.
(h) The Real Estate Leases are legally valid, binding and enforceable in accordance with their respective terms and are in full force and effect; (ii) there are no defaults by Seller or any Acquired Company or, to the Knowledge of Seller and each Acquired Company, any other party to the Real Estate Leases; (iii) neither Seller nor any of the Acquired Companies has received notice of any default, offset, counterclaim or defense under any of the Real Estate Leases nor, to the Knowledge of Seller and each Acquired Company, has a default been threatened; (iv) no condition or event has occurred that with the passage of time or the giving of notice or both would constitute a default or breach by Seller or an Acquired Company of the material terms of any of the Real Estate Leases; and (v) all allowances, work-letters and other amounts payable by Seller and each Acquired Company under the Real Estate Leases (other than the rent) have been paid in full and all work to be performed by Seller or any Acquired Company under the Real Estate Leases has been completed. The consummation of the Contemplated Transactions does not require the consent of any party under the Real Estate Leases.
Appears in 1 contract
Contracts; No Defaults. Schedule 4(t(a) attached hereto Part 3.17(a) of the Disclosure Letter contains a complete and accurate list, and Stronghold Seller has made available delivered to the Purchaser Buyer true and complete copies, of:
(i) each Applicable Contract that was not entered into in the Ordinary Course of Business and that involves performance of services or delivery of goods or materials by or to the Company of an amount or value in excess of Five Thousand Dollars ($25,000;5,000.00),
(ii) each Applicable Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less Business and that involves expenditures or receipts of Stronghold the Company in excess of Five Thousand Dollars ($25,000;5,000.00),
(iii) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than Five Thousand Dollars ($25,000 5,000.00) and with terms of less than one year);,
(iv) each licensing agreement or other Applicable Contract with respect to patents, trademarks, copyrights, or other intellectual property, including agreements with current or former employees, consultants, or contractors regarding the appropriation or the nondisclosure of any of the intellectual property assets of the Company,
(v) each collective bargaining agreement and other Applicable Contract to or with any labor union or other employee representative of a group of employees,
(vi) each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold the Company with any other person or entity;Person,
(vvii) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold or any affiliate of the foregoing Company or limit the freedom of Stronghold or any affiliate of the foregoing Company to engage in any line of business or to compete with any person or entity;Person,
(vi) each employment or consulting agreement of Stronghold;
(viiviii) each Applicable Contract providing for payments to or by any person or entity Person based on sales, purchases, or profits, other than direct payments for goods;,
(viiiix) each power of attorney executed by Stronghold that is currently effective and outstanding;,
(ixx) each Applicable Contract entered into other than in the ordinary course Ordinary Course of business Business that contains or provides for an express undertaking by Stronghold the Company to be responsible for consequential damages;,
(xxi) each Applicable Contract for capital expenditures in excess of Five Thousand Dollars ($25,000;5,000.00),
(xixii) each written warranty, guaranty, and or other similar undertaking with respect to contractual performance extended by Stronghold the Company other than in the ordinary course Ordinary Course of business; Business, and
(xiixiii) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. .
(b) Except as set forth in Schedule 4(tPart 3.17(b) attached heretoof the Disclosure Letter, Seller (and no related person of Seller) has not or may not acquire any rights under, and Seller has not or may not become subject to any obligation or liability under any Contract that relates to the Business of, or any of the assets owned or used by, the Company, and
(c) Except as set forth in Part 3.17(c) of the Disclosure Letter, each Contract identified or required to be identified in Part 3.17(a) of the Disclosure Letter is in full force and effect and is valid and enforceable in accordance with its terms, except as enforceability may be limited by bankruptcy or other laws affecting the enforcement of creditors' rights generally.
(d) Except as set forth in Part 3.17(d) of the Disclosure Letter:
(i) Stronghold the Company is, and at all times has been, in material full compliance with all applicable terms and requirements of each Contract under which such company the Company has or had any obligation or liability or by which such company the Company or any of the assets owned or used by such company the Company is or was bound; ,
(ii) each other person or entity Person that has or had any material obligation or material liability under any Contract under which Stronghold the Company has or had any rights is, and at all times has been, in material full compliance with all applicable terms and requirements of such Contract; ,
(iii) to the Knowledge of Stronghold, no event has occurred or circumstance exists that (with or without notice or lapse of time) may reasonably contravene, conflict with, or result in a material violation or breach of, or give Stronghold the Company or other person or entity Person the right to reasonably declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and , and
(iv) Stronghold the Company has not been given to or received from any other person or entity Person, at any time any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t.
(e) attached hereto, there There are no renegotiation renegotiations of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold the Company under current or completed Contracts with any person or entity Person and, to the Knowledge of StrongholdSeller and the Company, no such person or entity Person has made written demand for such renegotiation. .
(f) The Contracts relating to the sale, design, manufacture, or provision of products or services by Stronghold the Company have been entered into in the ordinary course Ordinary Course of business Business and have been entered into without the commission of any act alone or in concert with any other person or entityPerson, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.
Appears in 1 contract
Contracts; No Defaults. Schedule 4(t(a) attached hereto Part 3.17(a) of the Disclosure Letter contains a complete and accurate list, and Stronghold Seller has made available delivered to the Purchaser Buyer true and complete copies, of:
(i) each Applicable Contract that involves performance of services or delivery of goods or materials by the Company of an amount or value in excess of $25,000;25,000.00.
(ii) each Applicable Contract that involves performance of services or delivery of goods or materials to the Company of an amount or value in excess of $25,000.00.
(iii) each Applicable Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less Business and that involves expenditures or receipts of Stronghold the Company in excess of $25,000;25,000.00.
(iiiiv) each leaselease (other than the “Lease Agreement”), rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 25,000.00 and with terms of less than one year);
(ivv) each licensing agreement or other Applicable Contract with respect to patents, trademarks, copyrights, or other intellectual property, including agreements with current or former employees, consultants, or contractors regarding the appropriation or the non-disclosure of any of the Intellectual Property Assets;
(vi) each collective bargaining agreement and other Applicable Contract to or with any labor union or other employee representative of a group of employees;
(vii) each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold the Company with any other person or entityPerson;
(vviii) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold the Company or any affiliate Affiliate of the foregoing Company or limit the freedom of Stronghold the Company or any affiliate Affiliate of the foregoing Company to engage in any line of business or to compete with any person or entityPerson;
(vi) each employment or consulting agreement of Stronghold;
(viiix) each Applicable Contract providing for payments to or by any person or entity Person based on sales, purchases, or profits, other than direct payments for goods;
(viiix) each power of attorney executed by Stronghold that is currently effective and outstanding;
(ixxi) each Applicable Contract entered into other than in the ordinary course Ordinary Course of business Business that contains or provides for an express undertaking by Stronghold the Company to be responsible for consequential damages;
(xxii) each Applicable Contract for capital expenditures in excess of $25,00025,000.00;
(xixiii) each written warranty, guaranty, and or other similar undertaking with respect to contractual performance extended by Stronghold the Company other than in the ordinary course Ordinary Course of businessBusiness; and
(xiixiv) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. Part 3.17(a) of the Disclosure Letter sets forth reasonably complete details concerning such Contracts, including the parties to the Contracts, the amount of the remaining commitment of the Company under the Contracts, and the Company's office where details relating to the Contracts are located.
(b) Except as set forth in Schedule 4(tPart 3.17(b) attached hereto, of the Disclosure Letter:
(i) Stronghold Seller (and no Related Person of Seller) has not or will not acquire any rights under, and Seller has not or will not become subject to any obligation or liability under, any Contract that relates to the business of, or any of the assets owned or used by the Company; and
(ii) to the Knowledge of Seller and the Company, no officer, director, agent, employee, consultant, or contractor of the Company is bound by any Contract that purports to limit the ability of such officer, director, agent, employee, consultant, or contractor to (A) engage in or continue any conduct, activity, or practice relating to the business of the Company, or (B) assign to the Company or to any other Person any rights to any invention, improvement, or discovery.
(c) Except as set forth in Part 3.17(c) of the Disclosure Letter, each Contract identified or required to be identified in Part 3.17(a) of the Disclosure Letter is in full force and effect and is valid and enforceable in accordance with its terms.
(d) Except as set forth in Part 3.17(d) of the Disclosure Letter:
(i) the Company is, and at all times since January 1, 2005, has been, been in material full compliance with all applicable terms and requirements of each Contract under which such company the Company has or had any obligation or liability or by which such company the Company or any of the assets owned or used by such company the Company is or was bound; ;
(ii) each other person or entity Person that has or had any obligation or liability under any Contract under which Stronghold the Company has or had any rights is, and at all times since January 1, 2005, has been, been in material full compliance with all applicable terms and requirements of such Contract; ;
(iii) to the Knowledge of Stronghold, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold the Company or other person or entity Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and and
(iv) Stronghold the Company has not been given to or received from any other person or entity Person, at any time since January 1, 2005, any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t.
(e) attached hereto, there There are no renegotiation renegotiations of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold the Company under current or completed Contracts with any person or entity Person and, to the Knowledge of StrongholdSeller and the Company, no such person or entity Person has made written demand for such renegotiation. .
(f) The Contracts relating to the sale, design, manufacture, or provision of products or services by Stronghold the Company have been entered into in the ordinary course Ordinary Course of business Business and have been entered into without the commission of any act alone or in concert with any other person or entityPerson, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.
Appears in 1 contract
Samples: Stock Purchase Agreement (Allis Chalmers Energy Inc.)
Contracts; No Defaults. (a) Schedule 4(t) attached hereto 3.18 contains a complete and accurate list, and Stronghold has made available Sellers have delivered to the Purchaser Buyer true and complete copies, of:
(i) each written Applicable Contract that involves performance of services or delivery of goods or materials by one or more Acquired Companies of an amount or value in excess of greater than $25,00010,000 (or greater than $25,000 for equipment leases);
(ii) each written Applicable Contract that involves performance of services or delivery of goods or materials to one or more Acquired Companies of an amount or value greater than $5,000;
(iii) each written Applicable Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less Business and that involves expenditures or receipts of Stronghold in excess of one or more Acquired Companies greater than $25,0001,000;
(iiiiv) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other written Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 5,000 and with terms of less than one year);
(ivv) each collective bargaining agreement and other written Applicable Contract to or with any labor union or other employee representative of a group of employees;
(vi) each joint venture, partnership, and other written Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold any Acquired Company with any other person or entityPerson;
(vvii) each written Applicable Contract for or with sales representatives, manufacturing representatives, consultants, advisors or finders;
(viii) each written Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold any Acquired Company or any affiliate Affiliate of the foregoing an Acquired Company or limit the freedom of Stronghold any Acquired Company or any affiliate Affiliate of the foregoing an Acquired Company to engage in any line of business or to compete with any person or entity;
(vi) each employment or consulting agreement of Stronghold;
(vii) each Applicable Contract providing for payments to or by any person or entity based on sales, purchases, or profits, other than direct payments for goods;
(viii) each power of attorney executed by Stronghold that is currently effective and outstandingPerson;
(ix) each Applicable Contract entered into other than in the ordinary course of business that contains or provides for an express undertaking by Stronghold to be responsible for consequential damages;
(x) each written Applicable Contract for capital expenditures in excess of $25,000;
(xi) each written warranty, guaranty, and other similar undertaking with respect to contractual performance extended by Stronghold other than in the ordinary course of business50,000; and
(xiix) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. No Acquired Company is party to an oral contract which would be reasonably likely to have a material adverse effect on the business, financial condition, operations, results of operations or future prospects of any of the Acquired Companies.
(b) Except as set forth on Schedule 3.18, each Contract identified or required to be identified on Schedule 3.18 is in full force and effect and is valid and enforceable in accordance with its terms.
(c) Except as set forth on Schedule 4(t) attached hereto, 3.18:
(i) Stronghold isto Sellers' Knowledge, and has been, each Acquired Company is in material full compliance with all applicable terms and requirements of each Contract under which such company Acquired Company has or had any obligation or liability or by which such company Acquired Company or any of the assets owned or used by such company Acquired Company is or was bound; ;
(ii) to Sellers' Knowledge, each other person or entity Person that has or had any obligation or liability under any Contract under which Stronghold an Acquired Company has or had any rights is, and has been, is in material full compliance with all applicable terms and requirements of such Contract; ;
(iii) to the Knowledge of StrongholdSellers' Knowledge, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold any Acquired Company or other person or entity Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and ;
(iv) Stronghold no Acquired Company has not been given to or received from any other person or entity Person any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party ; and
(v) no Acquired Company has paid any amounts under any current or parties to such contract expired bonus or profit sharing plan except in accordance with its the terms and provisions. Except as disclosed on Schedule 4(tcalculations provided for by such plans.
(d) attached hereto, there There are no renegotiation renegotiations of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold Acquired Company under current or completed Contracts with any person or entity and, to the Knowledge of Stronghold, no Person and such person or entity Person has made written demand for such renegotiation. .
(e) The Contracts relating to the sale, design, manufacture, or provision of products or services by Stronghold the Acquired Companies have been entered into in the ordinary course Ordinary Course of business Business and have been entered into without the commission of any act alone or in concert with any other person or entityPerson, or any consideration having been paid or promised, that is or or, to Sellers' Knowledge, would be in violation of any Legal Requirement.
Appears in 1 contract
Samples: Stock Purchase Agreement (Kimberton Enterprises Inc)
Contracts; No Defaults. (a) Schedule 4(t3.14(a) attached hereto contains a complete and accurate list, and Stronghold Seller has delivered or made available to the Purchaser true and complete Buyer copies, of:
(i) each Applicable Gift Contract (other than open purchase or sales orders entered into in the ordinary course of business) that involves performance of services or delivery of goods or materials by any Gift Entity of an amount or value in excess of $25,000200,000;
(ii) each Applicable Gift Contract (other than open purchase or sales orders entered into in the ordinary course of business) that involves performance of services or delivery of goods or materials to an applicable Gift Entity of an amount or value in U.S. excess of $200,000;
(iii) each Gift Contract that was not entered into in the ordinary course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less and that involves expenditures or receipts of Stronghold any Gift Entity in excess of $25,000200,000;
(iiiiv) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Gift Contract affecting the ownership of, leasing of, title to, use of, of or any leasehold or other interest in, in any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 and with terms of less than one year200,000);
(ivv) each joint ventureGift Contract with any labor union, partnershipworks counsel, or other employee representative of a group of employees relating to wages, hours and other Applicable conditions of employment;
(vi) each Gift Contract (however named) involving a sharing of profits, losses, costs, costs or liabilities by Stronghold any Gift Entity with any other person or entityPerson;
(vvii) each Applicable Gift Contract containing covenants that in any way purport to restrict any Gift Entity’s activity in any material respect with respect to the business activity of Stronghold or any affiliate of the foregoing Gift Business or limit the freedom of Stronghold or any affiliate of the foregoing to engage Gift Entity in any line of business or material respect to compete with any person or entityPerson with respect to any aspect of the Gift Business;
(viviii) each employment or consulting agreement of Stronghold;
(vii) each Applicable Gift Contract providing reasonably likely to provide for payments to or by any person or entity Person in excess of $200,000 based on sales, purchases, purchases or profits, other than direct payments for goods;
(viii) each power goods or payments of attorney executed by Stronghold that is currently effective and outstandingemployee sales commissions;
(ix) each Applicable Contract entered into other than in the ordinary course of business that contains or provides for an express undertaking by Stronghold to be responsible for consequential damages;
(x) each Applicable Gift Contract for capital expenditures in excess of $25,000200,000;
(x) any standard form of purchase and sales orders generally used in the Gift Business; and
(xi) each written warranty, guaranty, and other similar undertaking with respect to contractual performance extended by Stronghold other than in the ordinary course of business; and
(xii) each amendment, supplement, supplement and modification (whether oral or written) in respect of any of the foregoing. The Contracts described in Sections 3.14(a)(i) - (ix) and (xi) shall be referred to collectively as the “Material Contracts”. All written Material Contracts have been made available to Buyer.
(b) Except as set forth on Schedule 3.14(b), to the Knowledge of the Seller, each Material Contract is valid and in full force and effect, and is enforceable against the Gift Entity party thereto in accordance with its terms.
(c) To the Knowledge of the Seller, there are no oral Material Contracts.
(d) Except as set forth on Schedule 4(t) attached hereto, 3.14(d): (i) Stronghold is, and has been, in material compliance with all applicable terms and requirements of each Contract under which such company has or had any obligation or liability or by which such company or any none of the assets owned Gift Entities has violated or used by such company breached, or committed any material default under, any Material Contract to which it is a party; and, to the Knowledge of the Seller, no other Person has violated or was boundbreached, or committed any default under, any Material Contract; (ii) each other person or entity that has or had any obligation or liability under any Contract under which Stronghold has or had any rights is, and has been, in material compliance with all applicable terms and requirements of such Contract; (iii) to the Knowledge of Strongholdthe Seller, no event has occurred occurred, and no circumstance or circumstance exists condition exists, that (with or without notice or lapse of time) may contravenewill or would be reasonably likely to, conflict with, or (A) result in a material violation or breach ofof any of the provisions of any Material Contract, or (B) give Stronghold or other person or entity any Person the right to declare receive or require a default material rebate, chargeback, penalty or exercise change in delivery schedule under any remedy underMaterial Contract, or (C) give any Person the right to accelerate the maturity or performance of, of any Material Contract or (D) give any Person the right to cancel, terminate, terminate or modify, modify in any Applicable material respect any Material Contract; and (iviii) Stronghold has not been given or received from neither the Seller nor any other person or entity Gift Entity a party thereto has received any written notice or other communication (whether oral or written) regarding any actual, alleged, possible, actual or potential possible material violation or breach of, or default under, any Material Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party subject of which notice has not been resolved as required thereby or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t) attached hereto, there are no renegotiation of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold under current or completed Contracts with any person or entity and, otherwise to the Knowledge satisfaction of Stronghold, no the party sending such person or entity has made written demand for such renegotiation. The Contracts relating to the sale, design, or provision of products or services by Stronghold have been entered into in the ordinary course of business and have been entered into without the commission of any act alone or in concert with any other person or entity, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirementnotice.
Appears in 1 contract
Contracts; No Defaults. Schedule 4(t(a) attached hereto Part 3.17(a) of the Disclosure Letter contains a complete and accurate list, and Stronghold has made available Sellers have delivered to the Purchaser Buyer true and complete copies, of:
(i) each Applicable Contract that involves performance of services or delivery of goods or materials by the Company of an amount or value in excess of $25,000;25,000.00.
(ii) each Applicable Contract that involves performance of services or delivery of goods or materials to the Company of an amount or value in excess of $25,000.00.
(iii) each Applicable Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less Business and that involves expenditures or receipts of Stronghold the Company in excess of $25,000;25,000.00.
(iiiiv) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 25,000.00 and with terms of less than one year);
(ivv) each licensing agreement or other Applicable Contract with respect to patents, trademarks, copyrights, or other intellectual property, including agreements with current or former employees, consultants, or contractors regarding the appropriation or the non-disclosure of any of the Intellectual Property Assets;
(vi) each collective bargaining agreement and other Applicable Contract to or with any labor union or other employee representative of a group of employees;
(vii) each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold the Company with any other person or entityPerson;
(vviii) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold the Company or any affiliate Affiliate of the foregoing Company or limit the freedom of Stronghold the Company or any affiliate Affiliate of the foregoing Company to engage in any line of business or to compete with any person or entityPerson;
(vi) each employment or consulting agreement of Stronghold;
(viiix) each Applicable Contract providing for payments to or by any person or entity Person based on sales, purchases, or profits, other than direct payments for goods;
(viiix) each power of attorney executed by Stronghold that is currently effective and outstanding;
(ixxi) each Applicable Contract entered into other than in the ordinary course Ordinary Course of business Business that contains or provides for an express undertaking by Stronghold the Company to be responsible for consequential damages;
(xxii) each Applicable Contract for capital expenditures in excess of $25,00025,000.00;
(xixiii) each written warranty, guaranty, and or other similar undertaking with respect to contractual performance extended by Stronghold the Company other than in the ordinary course Ordinary Course of businessBusiness; and
(xiixiv) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. Part 3.17(a) of the Disclosure Letter sets forth reasonably complete details concerning such Contracts, including the parties to the Contracts, the amount of the remaining commitment of the Company under the Contracts, and the Company's office where details relating to the Contracts are located.
(b) Except as set forth in Schedule 4(tPart 3.17(b) attached hereto, of the Disclosure Letter:
(i) Stronghold no Seller (and no Related Person of any Seller) has or may acquire any rights under, and no Seller has or may become subject to any obligation or liability under, any Contract that relates to the business of, or any of the assets owned or used by the Company; and
(ii) to the Knowledge of Sellers, no officer, director, agent, employee, consultant, or contractor of the Company is bound by any Contract that purports to limit the ability of such officer, director, agent, employee, consultant, or contractor to (A) engage in or continue any conduct, activity, or practice relating to the business of the Company, or (B) assign to the Company or to any other Person any rights to any invention, improvement, or discovery.
(c) Except as set forth in Part 3.17(c) of the Disclosure Letter, each Contract identified or required to be identified in Part 3.17(a) of the Disclosure Letter is in full force and effect and is valid and enforceable in accordance with its terms.
(d) Except as set forth in Part 3.17(d) of the Disclosure Letter:
(i) to the Company is, and at all times since January 1, 2004 has been, in material compliance with all applicable terms and requirements of each Contract under which such company the Company has or had any obligation or liability or by which such company the Company or any of the assets owned or used by such company the Company is or was bound; ;
(ii) to Sellers' Knowledge, each other person or entity Person that has or had any obligation or liability under any Contract under which Stronghold the Company has or had any rights is, and at all times since January 1, 2004 has been, in material full compliance with all applicable terms and requirements of such Contract; ;
(iii) to the Knowledge of StrongholdSellers' Knowledge, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold the Company or other person or entity Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and and
(iv) Stronghold the Company has not been given to or received from any other person or entity Person, at any time since January 1, 2004, any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t.
(e) attached hereto, there There are no renegotiation renegotiations of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold the Company under current or completed Contracts with any person or entity Person and, to the Knowledge of StrongholdSellers and the Company, no such person or entity Person has made written demand for such renegotiation. .
(f) The Contracts relating to the sale, design, manufacture, or provision of products or services by Stronghold the Company have been entered into in the ordinary course Ordinary Course of business Business and to the Sellers' Knowledge, have been entered into without the commission of any act alone or in concert with any other person or entityPerson, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.
Appears in 1 contract
Samples: Stock Purchase Agreement (Allis Chalmers Energy Inc.)
Contracts; No Defaults. Schedule 4(t(a) attached hereto Part 3.17(a) of the Disclosure Letter contains a complete and accurate list, and Stronghold has made available the Company or Sellers have delivered to the Purchaser Buyer true and complete copies, of:
(i) each Applicable Contract that involves performance of services or delivery of goods or materials by one or more Acquired Companies of an amount or value in excess of $25,00050,000;
(ii) each Applicable Contract that involves performance of services or delivery of goods or materials to one or more Acquired Companies of an amount or value in excess of $50,000;
(iii) each Applicable Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less Business and that involves expenditures or receipts of Stronghold one or more Acquired Companies in excess of $25,00050,000;
(iiiiv) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 50,000 and with terms of less than one year);
(ivv) each licensing agreement or other Applicable Contract with respect to patents, trademarks, copyrights, or other intellectual property, including agreements with current or former employees, consultants, or contractors regarding the appropriation or the non-disclosure of any of the Intellectual Property Assets;
(vi) each collective bargaining agreement and other Applicable Contract to or with any labor union or other employee representative of a group of employees;
(vii) each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold any Acquired Company with any other person or entityPerson;
(vviii) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold any Acquired Company or any affiliate Affiliate of the foregoing an Acquired Company or limit the freedom of Stronghold any Acquired Company or any affiliate Affiliate of the foregoing an Acquired Company to engage in any line of business or to compete with any person or entityPerson;
(vi) each employment or consulting agreement of Stronghold;
(viiix) each Applicable Contract providing for payments to or by any person or entity Person based on sales, purchases, or profits, other than direct payments for goods;
(viiix) each power of attorney executed by Stronghold that is currently effective and outstanding;
(ixxi) each Applicable Contract entered into other than in the ordinary course Ordinary Course of business Business that contains or provides for an express undertaking by Stronghold any Acquired Company to be responsible for consequential damages;
(xxii) each Applicable Contract for capital expenditures in excess of $25,00050,000;
(xixiii) each written warranty, guaranty, and or other similar undertaking with respect to contractual performance extended by Stronghold any Acquired Company other than in the ordinary course Ordinary Course of businessBusiness;
(xiv) each agreement with respect to any hedging, swap, forward, future or derivative transaction or option or similar agreement involving, or settled by reference to, one or more rates, currencies, commodities, equity or debt instruments or securities, or economic, financial or pricing indices or measures of economic, financial or pricing risk or value or any similar transaction or any combination of these transactions;
(xv) all outstanding standby letters of credit, guarantees, subordination agreements and indemnity agreements, whether or not entered into in the Ordinary Course of Business, under which any Acquired Company may become liable for or obligated to discharge, or any asset of any Acquired Company is or may become subject to the satisfaction of, any indebtedness, obligations, performance or undertaking of other Persons (other than any Acquired Company) involving the potential expenditure by any Company after the date of this Agreement of more than $50,000 in any instance (or any such guarantee, subordination agreement or indemnity agreement involving the potential aggregate expenditure by any Acquired Company of more than $100,000);
(xvi) all Employment Contracts of the Acquired Companies;
(xvii) any Contract or agreement for the payment or receipt of license fees, commissions or royalties to or from any Person anticipated to be in excess of $50,000 individually or on an annual basis (or any such Contract or agreement providing for aggregate payments to or from any Person anticipated to be in excess of $100,000);
(xviii) any other material agreement, commitment, arrangement or plan not made in the Ordinary Course of Business; and
(xiixix) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. .
(b) Except as set forth in Schedule 4(tPart 3.17(b) attached hereto, of the Disclosure Letter:
(i) Stronghold none of the Sellers (and no Related Person of any Seller) has or may acquire any rights under, and none of the Sellers has or may become subject to any obligation or liability under, any Contract that relates to the business of, or any of the assets owned or used by, any Acquired Company; and
(ii) no officer or director, or to the Knowledge of the Company or any Seller any agent, employee, consultant, or contractor, of any Acquired Company is bound by any Contract that purports to limit the ability of such officer, director, agent, employee, consultant, or contractor to (A) engage in or continue any conduct, activity, or practice relating to the business of any Acquired Company, or (B) assign to any Acquired Company or to any other Person any rights to any invention, improvement, or discovery.
(c) Except as set forth in Part 3.17(c) of the Disclosure Letter, each Contract identified or required to be identified in Part 3.17(a) of the Disclosure Letter is in full force and effect and is valid and enforceable in accordance with its terms.
(d) Except as set forth in Part 3.17(d) of the Disclosure Letter:
(i) each Acquired Company is, and at all times has been, in material compliance with all applicable terms and requirements of each Contract under which such company Acquired Company has or had any obligation or liability or by which such company Acquired Company or any of the assets owned or used by such company Acquired Company is or was bound; ;
(ii) to the Knowledge of the Sellers and of the Acquired Companies, each other person or entity Person that has or had any obligation or liability under any Contract under which Stronghold an Acquired Company has or had any rights is, and at all times has been, in material compliance with all applicable terms and requirements of such Contract; ;
(iii) to the Knowledge of Stronghold, no event has occurred or circumstance exists that (with or without notice or lapse of time) may is likely to contravene, conflict with, or result in a material violation or breach of, or give Stronghold any Acquired Company or to Sellers’ Knowledge any other person or entity Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and and
(iv) Stronghold no Acquired Company has not been given to or received from any other person or entity Person, at any time since December 31, 2001, any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t.
(e) attached hereto, there There are no renegotiation renegotiations of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any Acquired Company in an amount individually in excess of Stronghold $50,000, or in the aggregate exceeding $100,000, under current or completed Contracts with any person or entity and, to the Knowledge of Stronghold, Person and no such person or entity Person has made written demand for such renegotiation. .
(f) The Contracts relating to the sale, design, manufacture, or provision of products or services by Stronghold the Acquired Companies have been entered into in the ordinary course Ordinary Course of business Business and have been entered into without the commission of any act alone or in concert with any other person or entityPerson, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.
Appears in 1 contract
Contracts; No Defaults. (a) Schedule 4(t2.13(a) attached hereto contains of the Disclosure Schedules identifies each of the following Contracts to which the Company is a complete and accurate list, and Stronghold has made available to the Purchaser true and complete copies, of:
party: (i) each Applicable Contract that the performance of services or STOCK PURCHASE AGREEMENT 11 delivery of goods or materials by Company, the performance of which involves consideration in excess of $25,000, other than purchase orders received in the Ordinary Course of Business; (ii) the performance of services or delivery of goods or materials to Company, the performance of an amount or value which involves consideration in excess of $25,000;
(ii) each Applicable Contract that was not entered into , other than purchase orders issued in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less and that involves expenditures or receipts of Stronghold in excess of $25,000;
Business; (iii) each for borrowed money, other than trade debt incurred by Company in the Ordinary Course of Business; (iv) the lease, rental or occupancy agreement, license, installment installment, and conditional sale agreement, and other Applicable Contract sales affecting the ownership of, leasing of, title to, or use of, of any personal property with annual payments in excess of $25,000; (v) licensing with respect to Company Intellectual Property Assets to which Company is a party other than commercially available software; (vi) joint venture or any leasehold partnership or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 and with terms of less than one year);
(iv) each joint venture, partnership, and other Applicable Contract (however named) similar arrangement involving a sharing of profits, losses, costs, or liabilities by Stronghold Company with any other person or entity;
(v) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold or any affiliate of the foregoing or limit the freedom of Stronghold or any affiliate of the foregoing to engage in any line of business or to compete with any person or entity;
(vi) each employment or consulting agreement of Stronghold;
Person; (vii) each Applicable Contract providing for payments to or by any person or entity based on sales, purchases, or profits, other than direct payments for goods;
(viii) each power of attorney executed by Stronghold that is currently effective and outstanding;
(ix) each Applicable Contract entered into other than in the ordinary course of business that contains or provides for an express undertaking by Stronghold to be responsible for consequential damages;
(x) each Applicable Contract for capital expenditures in excess of $25,000;
50,000; (viii) guaranty with respect to performance of any other Person by Company; (ix) profit sharing, stock option, stock purchase, stock appreciation, deferred compensation, severance, or other plan or arrangement for the benefit of the current or former directors, officers, and employees of a Sellers; (x) collective bargaining agreement; (xi) each written warrantyfor the employment of any individual on a full-time, guarantypart-time, and consulting, or other similar undertaking with respect to contractual performance extended by Stronghold other than basis providing annual compensation in the ordinary course excess of business$75,000 or providing severance benefits; and
(xii) each amendmentunder which Company has advanced or loaned any amount to its directors, supplementofficers, and modification employees; (whether oral xiii) the subject matter of which is confidentiality or writtennon-competition except that which may be implied by law; (xiv) any other agreement to which one of the Companies is a party that involves any transaction greater than $15,000 in value; and (xv) each amendment in respect of any of the foregoing. .
(b) Except as set forth in Schedule 4(t2.13(b) attached heretoof the Disclosure Schedules, each Contract identified or required to be identified in Section 2.13(a) of the Disclosure Schedule (i) Stronghold isis legal, valid, binding, in full force and effect and valid and enforceable against Company as a party thereto and, to Sellers’ Knowledge, the other parties thereto, in accordance with its terms, except to the extent that the lack of validity or enforceability would not result in a Material Adverse Change, and has been(ii) the consummation of the transactions contemplated in this Agreement will not cause the failure of such Contract to be legal, valid, binding, in material compliance with all applicable full force and effect and enforceable on identical terms following the consummation of the transactions. Seller has made available to Buyer a correct and requirements complete copy of each written Contract identified in Section 2.13(a) of the Disclosure Schedule.
(c) Except as set forth in Section 2.13(c) of the Disclosure Schedule (i) Seller is in compliance in all material respects with each Contract identified in Section 2.13(a) of the Disclosure Schedule under which such company Company has or had any obligation or liability or by which such company or any of the assets owned or used by such company Company is or was bound; bound and (ii) each other person or entity Person that has or had any obligation or liability under any Contract identified in Section 2.13(a) of the Disclosure Schedule under which Stronghold Company has or had any rights is, and has been, is in compliance in all material compliance respects with all applicable terms and requirements of such Contract; (iii) to the Knowledge of Stronghold, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold or other person or entity the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and (iv) Stronghold has not been given or received from any other person or entity any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t) attached hereto, there are no renegotiation of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold under current or completed Contracts with any person or entity and, to the Knowledge of Stronghold, no such person or entity has made written demand for such renegotiation. The Contracts relating to the sale, design, or provision of products or services by Stronghold have been entered into in the ordinary course of business and have been entered into without the commission of any act alone or in concert with any other person or entity, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.
Appears in 1 contract
Contracts; No Defaults. Schedule 4(t(a) attached hereto Part 3.17(a) of the Shareholders Disclosure Letter contains a complete and accurate list, and Stronghold has made available the Majority Shareholders have delivered to the Purchaser Buyer true and complete copies, of:
(i) each Applicable Contract that involves performance of services or delivery of goods or materials by the Company of an amount or value in excess of $25,00075,000;
(ii) each Applicable Contract that involves performance of services or delivery of goods or materials to the Company of an amount or value in excess of $75,000;
(iii) each Applicable Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less Business and that involves expenditures or receipts of Stronghold the Company in excess of $25,00075,000;
(iiiiv) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, agreement and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 75,000 and with terms of less than one year);
(ivv) each licensing agreement or other Applicable Contract with respect to patents, trademarks, copyrights or other intellectual property, including agreements with current or former employees, consultants or contractors regarding the appropriation or the non-disclosure of any of the Intellectual Property Assets;
(vi) each collective bargaining agreement and other Applicable Contract to or with any labor union or other employee representative of a group of employees;
(vii) each joint venture, partnership, partnership and other Applicable Contract (however named) involving a sharing of profits, losses, costs, costs or liabilities by Stronghold the Company with any other person or entityPerson;
(vviii) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold the Company or any affiliate Affiliate of the foregoing Company or limit the freedom of Stronghold the Company or any affiliate Affiliate of the foregoing Company to engage in any line of business or to compete with any person or entityPerson;
(vi) each employment or consulting agreement of Stronghold;
(viiix) each Applicable Contract providing for payments to or by any person or entity Person based on sales, purchases, purchases or profits, other than direct payments for goods;
(viiix) each power of attorney executed by Stronghold that is currently effective and outstanding;
(ixxi) each Applicable Contract entered into other than in the ordinary course Ordinary Course of business Business that contains or provides for an express undertaking by Stronghold the Company to be responsible for consequential damages;
(xxii) each Applicable Contract for capital expenditures in excess of $25,00075,000;
(xixiii) each written warranty, guaranty, guaranty and or other similar undertaking with respect to contractual performance extended by Stronghold the Company other than in the ordinary course Ordinary Course of businessBusiness; and
(xiixiv) each amendment, supplement, supplement and modification (whether oral or written) in respect of any of the foregoing. Part 3.17(a) of the Shareholders Disclosure Letter sets forth reasonably complete details concerning such Contracts, including the parties to the Contracts, the amount of the remaining commitment of the Company under the Contracts, and where details relating to the Contracts are located.
(b) Except as set forth in Schedule 4(tPart 3.17(b) attached hereto, of the Shareholders Disclosure Letter:
(i) Stronghold no Seller (and no Related Person of any Seller) has or may acquire any rights under, and no Seller has or may become subject to any obligation or liability under, any Contract that relates to the business of, or any of the assets owned or used by, the Company; and
(ii) to the Knowledge of the Company or either Majority Shareholder and the Company, no officer, director, agent, employee, consultant, or contractor of the Company is bound by any Contract that purports to limit the ability of such officer, director, agent, employee, consultant or contractor to (A) engage in or continue any conduct, activity or practice relating to the business of the Company, or (B) assign to the Company or to any other Person any rights to any invention, improvement or discovery.
(c) Except as set forth in Part 3.17(c) of the Shareholders Disclosure Letter, each Contract identified or required to be identified in Part 3.17(a) of the Shareholders Disclosure Letter is in full force and effect and is valid and enforceable in accordance with its terms.
(d) Except as set forth in Part 3.17(d) of the Shareholders Disclosure Letter:
(i) the Company is, and at all times since July 1, 1996, has been, in material full compliance with all applicable terms and requirements of each material Contract under which such company the Company has or had any obligation or liability or by which such company the Company or any of the assets owned or used by such company the Company is or was bound; ;
(ii) to the Knowledge of the Company or either Majority Shareholder, each other person or entity Person that has or had any obligation or liability under any Contract under which Stronghold the Company has or had any rights is, and at all times since July 1, 1996, has been, in material full compliance with all applicable terms and requirements of such Contract; ;
(iii) to the Knowledge of Stronghold, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold the Company or other person or entity Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and and
(iv) Stronghold the Company has not been given to or received from any other person or entity Person, at any time since July 1, 1996, any notice or other communication (whether oral or written) regarding any actual, alleged, possible, possible or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t.
(e) attached hereto, there There are no renegotiation renegotiations of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold the Company under current or completed Contracts with any person or entity and, to the Knowledge of Stronghold, Person and no such person or entity Person has made written demand for such renegotiation. .
(f) The Contracts relating to the sale, design, manufacture or provision of products or services by Stronghold the Company have been entered into in the ordinary course Ordinary Course of business Business and have been entered into without the commission of any act alone or in concert with any other person or entityPerson, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.
Appears in 1 contract
Samples: Reorganization Agreement (Pacific Coast Apparel Co Inc)
Contracts; No Defaults. Schedule 4(t(a) attached hereto contains a complete To the best of the Company’s and accurate listthe Company Shareholder’s Knowledge, and Stronghold the Company or the Company Shareholder has made available to the Purchaser Xxxxxxxx true and complete copies, of:
(i) each Applicable Contract that involves performance of services or delivery of goods or materials by the Company of an amount or value in excess of $25,0005,000;
(ii) each Applicable Contract that involves performance of services or delivery of goods or materials to the Company of an amount or value in excess of $5,000;
(iii) each Applicable Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less Business and that involves expenditures or receipts of Stronghold the Company in excess of $25,0005,000;
(iiiiv) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 5,000 and with terms of less than one year);
(ivv) each licensing agreement or other Applicable Contract with respect to patents, trademarks, copyrights, or other intellectual property, including agreements with current or former employees, consultants, or contractors regarding the appropriation or the non-disclosure of any of the Intellectual Property Assets;
(vi) each collective bargaining agreement and other Applicable Contract to or with any labor union or other employee representative of a group of employees;
(vii) each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold the Company with any other person or entityPerson;
(vviii) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold the Company or any affiliate Affiliate of the foregoing Company or limit the freedom of Stronghold the Company or any affiliate Affiliate of the foregoing Company to engage in any line of business or to compete with any person or entityPerson;
(vi) each employment or consulting agreement of Stronghold;
(viiix) each Applicable Contract providing for payments to or by any person or entity Person based on sales, purchases, or profits, other than direct payments for goods;
(viiix) each power of attorney executed by Stronghold that is currently effective and outstanding;
(ixxi) each Applicable Contract entered into other than in the ordinary course Ordinary Course of business Business that contains or provides for an express undertaking by Stronghold the Company to be responsible for consequential damages;
(xxii) each Applicable Contract for capital expenditures in excess of $25,0005,000;
(xixiii) each written warranty, guaranty, and or other similar undertaking with respect to contractual performance extended by Stronghold the Company other than in the ordinary course Ordinary Course of businessBusiness; and
(xiixiv) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. Except as set forth in Schedule 4(t.
(b) attached hereto, To the best of the Company’s or the Company Shareholder’s Knowledge:
(i) Stronghold isneither the Company, the Company Shareholder nor any Related Person of either has or may acquire any rights under, and neither the Company nor the Company Shareholder has beenor will become subject to any obligation or liability under, any Contract that relates to the business of, or any of the assets owned or used by, the Company; and
(ii) To the best of the Company’s or the Company Shareholder’s Knowledge, no officer, director, agent, employee, consultant, or contractor of the Company is bound by any Contract that purports to limit the ability of such officer, director, agent, employee, consultant, or contractor to (A) engage in material or continue any conduct, activity, or practice relating to the business of the Company, or (B) assign to the Company or to any other Person any rights to any invention, improvement, or discovery.
(c) To the best of the Company’s or the Company Shareholder’s Knowledge, each Contract of the Company is in full force and effect and is valid and enforceable in accordance with its terms.
(d) To the best of the Company’s or the Company Shareholder’s Knowledge:
(i) the Company is in full compliance with all applicable terms and requirements of each Contract under which such company the Company has or had any obligation or liability or by which such company the Company or any of the assets owned or used by such company the Company is or was bound; ;
(ii) each other person or entity Person that has or had any obligation or liability under any Contract under which Stronghold the Company has or had any rights is, and has been, is in material full compliance with all applicable terms and requirements of such Contract; ;
(iii) to the Knowledge of Stronghold, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold the Company or other person or entity Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and and
(iv) Stronghold the Company has not been given to or received from any other person or entity Person any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against .
(e) To the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t) attached heretobest of the Company Shareholder’s Knowledge, there are no renegotiation renegotiations of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold the Company under current or completed Contracts with any person or entity and, to the Knowledge of Stronghold, Person and no such person or entity Person has made written demand for such renegotiation. The .
(f) To the best of the Company Shareholder’s Knowledge, the Contracts relating to the sale, design, manufacture, or provision of products or services by Stronghold the Company have been entered into in the ordinary course Ordinary Course of business Business and have been entered into without the commission of any act alone or in concert with any other person or entityPerson, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.
Appears in 1 contract
Contracts; No Defaults. Schedule 4(tPart 3.17
(a) attached hereto of the Disclosure Letter contains a complete and accurate list, and Stronghold has made available Seller have delivered to the Purchaser Buyer true and complete copies, of:
(i) : each Applicable Contract that involves performance of services or delivery of goods or materials by the Company of an amount or value in excess of $25,000;
(ii) 10,000.00; each Applicable Contract that involves performance of services or delivery of goods or materials to the Company of an amount or value in excess of $10,000.00; each Applicable Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less Business and that involves expenditures or receipts of Stronghold the Company in excess of $25,000;
(iii) 10,000.00; each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 10,000.00 and with terms of less than one year);
(iv) ; each licensing agreement or other Applicable Contract with respect to patents, trademarks, copyrights, or other intellectual property, including agreements with current or former employees, consultants, or contractors regarding the appropriation or the non-disclosure of any of the Intellectual Property Assets; each collective bargaining agreement and other Applicable Contract to or with any labor union or other employee representative of a group of employees; each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold the Company with any other person or entity;
(v) Person; each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold the Company, the Seller or any affiliate Affiliate of the foregoing Company or limit the freedom of Stronghold the Company, the Seller or any affiliate Affiliate of the foregoing Company to engage in any line of business or to compete with any person or entity;
(vi) each employment or consulting agreement of Stronghold;
(vii) Person; each Applicable Contract providing for payments to or by any person or entity Person based on sales, purchases, or profits, other than direct payments for goods;
(viii) ; each power of attorney executed by Stronghold that is currently effective and outstanding;
(ix) ; each Applicable Contract entered into other than in the ordinary course Ordinary Course of business Business that contains or provides for an express undertaking by Stronghold the Company to be responsible for consequential damages;
(x) ; each Applicable Contract for capital expenditures in excess of $25,000;
(xi) 10,000.00; each written warranty, guaranty, and or other similar undertaking with respect to contractual performance extended by Stronghold the Company other than in the ordinary course Ordinary Course of businessBusiness; and
(xii) and each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. Part 3.17(a) of the Disclosure Letter sets forth reasonably complete details concerning such Contracts, including the parties to the Contracts, the amount of the remaining commitment of the Company under the Contracts, and the Company's office where details relating to the Contracts are located. Except as set forth in Schedule 4(tPart 3.17(b) attached heretoof the Disclosure Letter: neither Seller (and no Related Person of Seller) has or may acquire any rights under, and neither Seller has or may become subject to any obligation or liability under, any Contract that relates to the business of, or any of the assets owned or used by the Company; and no officer, director, agent, employee, consultant, or contractor of the Company is bound by any Contract that purports to limit the ability of such officer, director, agent, employee, consultant, or contractor to (iA) Stronghold engage in or continue any conduct, activity, or practice relating to the business of the Company, or (B) assign to the Company or to any other Person any rights to any invention, improvement, or discovery. Except as set forth in Part 3.17(c) of the Disclosure Letter, each Contract identified or required to be identified in Part 3.17(a) of the Disclosure Letter is in full force and effect and is valid and enforceable in accordance with its terms. Except as set forth in Part 3.17(d) of the Disclosure Letter: the Company is, and at all times since January 1, 1999 has been, in material full compliance with all applicable terms and requirements of each Contract under which such company the Company has or had any obligation or liability or by which such company the Company or any of the assets owned or used by such company the Company is or was bound; (ii) each other person or entity Person that has or had any obligation or liability under any Contract under which Stronghold the Company has or had any rights is, and at all times since January 1, 1999 has been, in material full compliance with all applicable terms and requirements of such Contract; (iii) to the Knowledge of Stronghold, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold the Company or other person or entity Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and (iv) Stronghold the Company has not been given to or received from any other person or entity Person, at any time since January 1, 1999, any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t) attached hereto, there There are no renegotiation renegotiations of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold the Company under current or completed Contracts with any person or entity and, to the Knowledge of Stronghold, Person and no such person or entity Person has made written demand for such renegotiation. The Contracts relating to the sale, design, manufacture, or provision of products or services by Stronghold have the Company has been entered into in the ordinary course Ordinary Course of business Business and have been entered into without the commission of any act alone or in concert with any other person or entityPerson, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.
Appears in 1 contract
Contracts; No Defaults. Schedule 4(t(a) attached hereto Part 3.17(a) of the Disclosure Schedules contains a complete and accurate list, and Stronghold Seller has made available delivered to the Purchaser Buyer true and complete copies, of:
(i) each Applicable Contract that involves performance of services or delivery of goods or materials by one or more AMT Predecessors of an amount or value in excess of $25,00050,000;
(ii) each Applicable Contract that involves performance of services or delivery of goods or materials to one or more AMT Predecessors of an amount in excess of $50,000;
(iii) each Applicable Contract that was not entered into in the ordinary course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less and that involves expenditures or receipts of Stronghold one or more AMT Predecessors in excess of $25,00050,000;
(iiiiv) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 50,000 and with terms of less than one year);
(ivv) each licensing agreement or other Applicable Contract with respect to patents, trademarks, copyrights, or other intellectual property, including agreements with current or former employees, consultants, or contractors regarding the appropriation or the non- disclosure of any of the Intellectual Property Assets;
(vi) each collective bargaining agreement and other Applicable Contract to or with any labor union or other employee representative of a group of employees;
(vii) each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold any AMT Predecessor with any other person or entityPerson;
(vviii) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold or any affiliate of the foregoing AMT Predecessor or limit the freedom of Stronghold or any affiliate of the foregoing AMT Predecessor to engage in any line of business or to compete with any person or entityPerson;
(vi) each employment or consulting agreement of Stronghold;
(vii) each Applicable Contract providing for payments to or by any person or entity based on sales, purchases, or profits, other than direct payments for goods;
(viiiix) each power of attorney executed by Stronghold that is currently effective and outstanding;
(ix) each Applicable Contract entered into other than in the ordinary course of business that contains or provides for an express undertaking by Stronghold to be responsible for consequential damages;
(x) each Applicable Contract for capital expenditures in excess of $25,000;
(xi) each written warranty, guaranty, and or other similar undertaking with respect to contractual performance extended by Stronghold any AMT Predecessor other than in the ordinary course of business; and
(xii) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. .
(b) Except as set forth in Schedule 4(tPart 3.17(b) attached hereto, of the Disclosure Schedules:
(i) Stronghold isExcept as contemplated by Section 3.22(b), Seller does not have nor may it acquire any rights under any material Contract that relates to the business of, or any of the assets owned or used by any AMT Predecessor; and
(ii) to the Knowledge of Seller, no officer, director, agent, employee, consultant, manager, member or contractor of any AMT Predecessor is bound by any Contract that purports to limit the ability of such officer, director, agent, employee, consultant, manager, member or contractor to (A) engage in or continue any conduct, activity, or practice relating to the business of any AMT Predecessor, or (B) assign to any AMT Predecessor or to any other Person any rights to any invention, improvement, or discovery.
(c) Except as set forth in Part 3.17(c) of the Disclosure Schedules, each Contract identified or required to be identified in Part 3.17(a) of the Disclosure Schedules is in full force and has been, effect and is valid and enforceable in material accordance with its terms.
(d) Except as set forth in Part 3.17(d) of the Disclosure Schedules:
(i) each AMT Predecessor is in compliance with all applicable terms and requirements of each Contract under which such company AMT Predecessor has or had any obligation or liability or by which such company AMT Predecessor or any of the assets owned or used by such company AMT Predecessor is bound, except to the extent that failure to be in compliance would not have a material adverse effect on the business, operations or was bound; financial condition of the AMT Predecessors;
(ii) to the Knowledge of Seller, each other person or entity Person that has or had any obligation or liability under any Contract under which Stronghold any AMT Predecessor has or had any rights is, and has been, is in material compliance with all applicable terms and requirements of such Contract; , except to the extent that such Person's failure to be in compliance would not have a material adverse effect on the business, operations or financial condition of the AMT Predecessors;
(iii) to the Knowledge of StrongholdSeller, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold any AMT Predecessor or other person or entity Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any material Applicable Contract; and and
(iv) Stronghold no AMT Predecessor has not been given to or received from any other person or entity Person any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any material Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t.
(e) attached hereto, there There are no renegotiation renegotiations of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold AMT Predecessor under current or completed Contracts with any person or entity Person and, to the Knowledge of StrongholdSeller, no such person or entity Person has made written demand for such renegotiation. The Contracts relating to .
(f) As of the saleClosing, design, or provision there shall be no Event of products or services by Stronghold have been entered into Default (as defined in the ordinary course of business and have been entered into without Credit Agreement) under the commission of any act alone or Credit Agreement, as may be amended in concert connection with any other person or entity, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirementthe Closing.
Appears in 1 contract
Contracts; No Defaults. (a) Part 4.17(a) of the Disclosure Schedule 4(t) attached hereto contains a complete and accurate list, and Stronghold and, to Seller's Knowledge, Seller has made available delivered to the Purchaser Buyer true and complete copies, of:
(i) each Applicable Contract that involves performance of services or delivery of goods or materials by Housewares of an amount or value in excess of $25,000;
(ii) each Applicable Contract that was not entered into in the ordinary course involves performance of business services or is not cancelable by Stronghold delivery of goods or a subsidiary materials to Housewares of Stronghold with no penalty upon advance notice of 30 days an amount or less and that involves expenditures or receipts of Stronghold value in excess of $25,000;
(iii) each Applicable Contract that was not entered into in the Ordinary Course of Business and that involves expenditures or receipts of Housewares in excess of $25,000;
(iv) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold Leasehold Estate or other interest in, any real or in personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 and with terms of less than one year25,000);
(ivv) each licensing agreement or other Applicable Contract with respect to Patents, Marks, Copyrights, Masks, Trades Secrets or other intellectual property, including agreements with current or former employees, consultants, or contractors regarding the appropriation or the non-disclosure of any of the Intellectual Property Assets;
(vi) each collective bargaining agreement and other Applicable Contract to or with any labor union or other employee representative of a group of employees;
(vii) each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold Housewares with any other person or entityPerson;
(vviii) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold Housewares or any affiliate Affiliate of the foregoing Housewares or limit the freedom of Stronghold Housewares or any affiliate Affiliate of the foregoing Housewares to engage in any line of business or to compete with any person or entityPerson;
(vi) each employment or consulting agreement of Stronghold;
(viiix) each Applicable Contract providing for payments to or by any person or entity Person based on sales, purchases, or profits, other than direct payments for goods;
(viiix) each power of attorney executed by Stronghold that is currently effective and outstanding;
(ixxi) each Applicable Contract entered into other than in the ordinary course Ordinary Course of business Business that contains or provides for an express undertaking by Stronghold Housewares to be responsible for consequential damages;
(xxii) each Applicable Contract for capital expenditures in excess of $25,000;
(xixiii) each written warranty, guaranty, and or other similar undertaking with respect to contractual performance extended by Stronghold Housewares other than in the ordinary course Ordinary Course of businessBusiness; and
(xiixiv) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. .
(b) Except as set forth in Schedule 4(tPart 4.17(b) attached hereto, of the Disclosure Schedule:
(i) Stronghold no Related Person of Housewares has or may acquire any rights under, and no Related Person of Housewares has or may become subject to any obligation or liability under, any Contract that relates to the business of, or any of the assets owned or used by Housewares; and
(ii) no officer, director, agent, employee, consultant, or contractor of Housewares is bound by any Contract that purports to limit the ability of such officer, director, agent, employee, consultant, or contractor to (A) engage in or continue any conduct, activity, or practice relating to the business of Housewares, or (B) assign to Housewares or to any other Person any rights to any invention, improvement, or discovery.
(c) Each Contract identified or required to be identified in Part 4.17(a) of the Disclosure Schedule is in full force and effect and is valid and enforceable in accordance with its terms.
(d) Except as set forth in Part 4.17(d) of the Disclosure Schedule:
(i) Housewares is, and at all times has been, in material full compliance with all applicable terms and requirements of each Contract under which such company Housewares has or had any obligation or liability or by which such company Housewares or any of the assets owned or used by such company Housewares is or was bound; ;
(ii) each other person or entity Person that has or had any obligation or liability under any Contract under which Stronghold Housewares has or had any rights is, and at all times has been, in material full compliance with all applicable terms and requirements of such Contract; ;
(iii) to the Knowledge of Stronghold, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold Housewares or other person or entity Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and and
(iv) Stronghold Housewares has not been given to or received from any other person or entity Person at any time any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t.
(e) attached hereto, there There are no renegotiation renegotiations of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold Housewares under current or completed Contracts with any person or entity and, to the Knowledge of Stronghold, Person and no such person or entity Person has made written demand for such renegotiation. .
(f) The Applicable Contracts relating to the sale, design, or provision of products or services by Stronghold have been entered into in the ordinary course Ordinary Course of business Business and have been entered into without the commission of any act alone or in concert with any other person or entityPerson, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.
Appears in 1 contract
Contracts; No Defaults. Schedule 4(t(a) attached hereto contains Exhibit 3.17(a)(i) through Exhibit 3.17(a)(xv) hereof set forth reasonably complete details concerning the Contracts described in this Section 3.17(a), including the parties to the Contracts, the dollar amount of the remaining commitment to or of the FCS Companies under the Contracts, the duration, a complete and accurate listsummarized description of any services to be provided by or to any of the FCS Companies, and Stronghold has the FCS Companies' office where details relating to the Contracts are located. The Sellers and the FCS Companies have delivered or made available to the Purchaser Buyer true and complete copies, of:copies of each of the Applicable Contracts or other documents listed in Exhibits 3.17(a)(i) through 3.17(a)(xv):
(i) each Each FCS Services Agreement is described and listed on Exhibit 3.17(a)(i);
(ii) Each Applicable Contract that involves performance of services or delivery of goods or materials of an amount or value in excess of $25,000to the FCS Companies is described and listed on Exhibit 3.17(a)(ii);
(iiiii) each Each Applicable Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less Business and that involves expenditures or receipts of Stronghold in excess of $25,000the FCS Companies is described and listed on Exhibit 3.17(a)(iii);
(iiiiv) each Each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases is described and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 and with terms of less than one yearlisted on Exhibit 3.17(a)(iv);
(ivv) each Each licensing agreement or other Applicable Contract with respect to patents, trademarks, copyrights, or other intellectual property, including agreements with current or former employees, consultants, or contractors regarding the appropriation or the non-disclosure of any of the Intellectual Property Assets is to be described and listed on Closing Exhibit 3.17(a)(v);
(vi) Each employment agreement to which an FCS Company is a party and any other Applicable Contract relating to the provision of services, and compensation therefor, by any employee, agent, director, independent contractor, or consultant of any of the FCS Companies is described and listed on Exhibit 3.17(a)(vi); any collective bargaining agreement and other Applicable Contract to or with any labor union or other employee representative of a group of employees is described and listed on Exhibit 3.17(a)(vi);
(vii) Each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold the FCS Companies with any other person or entityPerson is described and listed on Exhibit 3.17(a)(vii);
(vviii) each Each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold the FCS Companies or any affiliate Affiliate of the foregoing FCS Companies or limit the freedom of Stronghold the FCS Companies or any affiliate Affiliate of the foregoing FCS Companies to engage in any line of business or to compete with any person or entityPerson is described and listed on Exhibit 3.17(a)(viii);
(viix) each employment or consulting agreement of Stronghold;
(vii) each Each Applicable Contract providing for payments to or by any person or entity Person based on sales, purchases, or profitsprofits in excess of $10,000, other than direct payments for goodsgoods is described and listed on Exhibit 3.17(a)(ix);
(viiix) each Each power of attorney executed by Stronghold that is currently effective and outstandingoutstanding is described and listed on Exhibit 3.17(a)(x);
(ixxi) each Each Applicable Contract entered into other than in the ordinary course Ordinary Course of business Business that contains or provides for an express undertaking by Stronghold the FCS Companies to be responsible for consequential damages, is described and listed on Exhibit 3.17(a)(xi);
(xxii) each Each Applicable Contract for capital expenditures in excess of $25,0002,500 is described and listed on Exhibit 3.17
(a) (xii);
(xixiii) each Each written warranty, guaranty, and or other similar undertaking with respect to contractual performance extended by Stronghold the FCS Companies other than in the ordinary course Ordinary Course of business; andBusiness is described and listed on Exhibit 3.17(a)(xiii);
(xiixiv) each Each Applicable Contract evidencing the obligation of any of the FCS Companies to repay borrowed money, including any obligations as the maker or guarantor of a promissory note is described and listed on Exhibit 3.17
(a) (xiv);
(xv) Each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. foregoing Contracts is described and listed on Exhibit 3.17(a)(xv).
(b) Except as set forth in Schedule 4(tExhibit 3.17(b) attached hereto, hereof:
(i) Stronghold isno Seller has or may acquire any rights under, and no Seller has or may become subject to any obligation or liability under, any Contract that relates to the business of, or any of the assets owned or used by, the FCS Companies; and
(ii) no officer, director, agent, employee, consultant, or contractor of the FCS Companies is bound by any Contract that purports to limit the ability of such officer, director, agent, employee, consultant, or contractor to (A) engage in or continue any conduct, activity, or practice relating to the business of the FCS Companies, or (B) assign to the FCS Companies or to any other Person any rights to any invention, improvement, or discovery.
(c) Except as set forth in Exhibit 3.17(c) hereof, each Contract identified or required to be identified in Exhibit 3.17(a)(i) through Exhibit 3.17(a)(xv) hereof is in full force and effect and is valid and enforceable in accordance with its terms.
(d) Except as set forth in Exhibit 3.17(d) hereof:
(i) the FCS Companies are, and at all times since January 1, 1993 have been, in material full compliance with all applicable terms and requirements of each Contract under which such company has the FCS Companies have or had any obligation or liability or by which such company the FCS Companies or any of the assets owned or used by such company is the FCS Companies are or was were bound; , except for any non-compliance which did not have or will not have a Material Adverse Effect;
(ii) to the Knowledge of any of the Sellers or any of the FCS Companies, each other person or entity Person that has or had any obligation or liability under any Contract under which Stronghold has the FCS Companies have or had any rights is, and at all times since January 1, 1996 has been, in material full compliance with all applicable terms and requirements of such Contract; , except for any non- compliance which did not have or will not have a Material Adverse Effect;
(iii) to the Knowledge of Stronghold, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravenecontravenes, conflict conflicts with, or could reasonably be expected to result in a material violation or breach of, or give Stronghold the FCS Companies or other person or entity Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and and
(iv) Stronghold has the FCS Companies have not been given to or received from any other person or entity Person, at any time since January 1, 1993, any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential material violation or breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t.
(e) attached hereto, there There are no renegotiation renegotiations of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold the FCS Companies under current or completed Contracts with any person or entity and, to the Knowledge of Stronghold, Person and no such person or entity Person has made written demand for such renegotiation. The Contracts relating to the sale, design, or provision of products or services by Stronghold have been entered into in the ordinary course of business and have been entered into without the commission of any act alone or in concert with any other person or entity, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.
Appears in 1 contract
Samples: Stock Purchase Agreement (Insignia Financial Group Inc)
Contracts; No Defaults. (a) To the extent such documents are located in the Cincinnati metropolitan area, Part 3.17(a) of the Disclosure Schedule 4(t) attached hereto contains a complete and accurate list, list and Stronghold CIC has made available to the Purchaser PAS true and complete copies, ofcorrect copies of :
(i) except for CDA/CMA agreements with customers, each Applicable Contract that involves performance of services or delivery of goods goods, materials or materials money by one or more Acquired Companies of an amount or value in excess of $25,000100,000 on an annual basis;
(ii) except for CDA/CMA agreements with customers, each Applicable Contract that involves performance of services or delivery of goods, materials or money to one or more Acquired Companies of an amount or value in excess of $100,000 on an annual basis;
(iii) each Applicable Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less Business and that involves expenditures or receipts of Stronghold one or more Acquired Companies in excess of $25,000100,000 on an annual basis;
(iiiiv) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, : any real or personal property that involves expenditures or receipts of one or more Acquired Companies in excess of $100,000 or (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments for Applicable Contracts relating to the placement of less than $25,000 and with terms of less than one year)vending machines) real property;
(ivv) each licensing agreement or other Applicable Contract with respect to patents, trademarks, copyrights, or other intellectual property, including, except for the standard confidentiality agreement(s) entered into with certain employees, agreements with current or former employees, consultants, or contractors regarding the appropriation or the non-disclosure of any of the Intellectual Property Assets;
(vi) each collective bargaining agreement currently in effect and other Applicable Contract to or with any labor union or other employee representative of a group of employees;
(vii) each joint venture, partnership, and other Applicable Contract (however named) ), currently in effect, involving a sharing of profits, losses, costs, or liabilities by Stronghold any Acquired Company with any other person or entityPerson;
(vviii) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold or any affiliate of the foregoing Acquired Company or limit the freedom of Stronghold or any affiliate of the foregoing Acquired Company to engage in any line of business or to compete with any person or entity;
(vi) each employment or consulting agreement of Stronghold;
(vii) each Applicable Contract providing for payments to or by any person or entity based on sales, purchases, or profits, other than direct payments for goods;
(viii) each power of attorney executed by Stronghold that is currently effective and outstandingPerson;
(ix) each Applicable Contract entered into other than in the ordinary course of business that contains or provides for an express undertaking by Stronghold to be responsible for consequential damages;
(x) each Applicable Contract for capital expenditures in excess of $25,000100,000;
(xix) each written warranty, guaranty, and guaranty or other similar undertaking with respect to contractual performance extended by Stronghold other than in the ordinary course of businessany Acquired Company; and
(xiixi) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. .
(b) Each Applicable Contract identified or required to be identified in Part 3.17(a) of the Disclosure Schedule is in full force and effect and is valid and enforceable in accordance with its terms.
(c) Except as set forth in Schedule 4(tPart 3.17(c) attached hereto, of the Disclosure Schedule:
(i) Stronghold is, and has been, each Acquired Company is in material compliance with all applicable terms and requirements of each Applicable Contract under which such company Acquired Company has or had any obligation or liability or by which such company Acquired Company or any of the assets owned or used by such company Acquired Company is or was bound; ;
(ii) each other person or entity Person that has or had any obligation or liability under any Applicable Contract under which Stronghold an Acquired Company has or had any rights is, and has been, is in material full compliance with all applicable terms and requirements of such Contract; ;
(iii) to the Knowledge of Stronghold, no event has occurred or circumstance exists that (with or without notice or lapse of time) may would or is reasonably likely to contravene, conflict with, or result in a material violation or breach of, or give Stronghold any Acquired Company or other person or entity Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and and
(iv) Stronghold no Acquired Company has not been given to or received from any other person or entity Person, any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any existing Applicable Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. .
(d) Except as disclosed on Schedule 4(tset forth in Part 3.17(d) attached heretoof the Disclosure Schedule, there are no renegotiation renegotiations of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold Acquired Company under current or completed Applicable Contracts with any person or entity and, to the Knowledge of Stronghold, Person and no such person or entity Person has made written demand for such renegotiation. .
(e) The Applicable Contracts relating to the sale, design, bottling, distribution or provision of products or services by Stronghold the Acquired Companies have been entered into in the ordinary course Ordinary Course of business Business and have been entered into without the commission of any act alone or in concert with any other person or entityact, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.
Appears in 1 contract
Contracts; No Defaults. Schedule 4(t(a) attached hereto Part 4.15(a) of the Disclosure Letter contains a complete and accurate list, and Stronghold the Company has made available delivered to the Purchaser Buyer true and complete copies, of:of (each a "Material Contract"):
(i) each Applicable Contract that involves performance of services or delivery of goods or materials to one or more Acquired Companies of an amount or value in excess of $25,000100,000;
(ii) each Each Applicable Contract that was not entered into in the ordinary course of business pursuant to which an Acquired Company is currently receiving services or is not cancelable by Stronghold has outstanding obligations with any director, officer, employee, consultant, agent or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less and that involves expenditures or receipts of Stronghold in excess of $25,000any other independent contractor;
(iii) each Applicable Contract involving any indebtedness for borrowed money of any Acquired Company (including any mortgages, security agreements, pledge agreements or similar Contracts executed in connection therewith) and any guarantee by an Acquired Company of indebtedness, obligations or liability of another Person;
(iv) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 and with terms of less than one year100,000);
(ivv) each licensing agreement or other Applicable Contract with respect to patents, trademarks, copyrights, or other intellectual property, including agreements with current or former employees, consultants, or contractors regarding the appropriation or the non-disclosure of any of the Intellectual Property Assets;
(vi) each collective bargaining agreement and other Applicable Contract to or with any labor union or other employee representative of a group of employees;
(vii) each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold any Acquired Company with any other person or entityPerson;
(vviii) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold any Acquired Company or any affiliate Affiliate of the foregoing an Acquired Company or limit the freedom of Stronghold any Acquired Company or any affiliate Affiliate of the foregoing an Acquired Company to engage in any line of business anywhere in the world or to compete with any person or entityPerson anywhere in the world;
(vi) each employment or consulting agreement of Stronghold;
(viiix) each Applicable Contract providing for payments to or by any person or entity Person based on sales, purchases, or profits, other than direct payments for goods;
(viiix) each power of attorney executed by Stronghold that is currently effective and outstanding;
(ixxi) each Each Applicable Contract relating to indemnification or contribution for liabilities, including, without limitation, any liability relating to environmental matters;
(xii) Each Applicable Contract relating to the disposal of surplus or waste products;
(xiii) Each Applicable Contract and related documentation relating to the sale of any Subsidiary, division or line of business (assets or stock) by any Acquired Company or former Subsidiary of the Company (or any divisions) since June 19, 1987;
(xiv) Each Applicable Contract entered into other than in the ordinary course Ordinary Course of business Business that contains or provides for an express undertaking by Stronghold any Acquired Company to be responsible for consequential damages;
(xxv) each Each Applicable Contract for capital expenditures in excess granting any right of $25,000first refusal to acquire any business or assets, or pursuant to which any Acquired Company has granted any such rights;
(xixvi) Each Applicable Contract relating to the acquisition of any real estate or the construction of any improvements on real estate since June 19, 1987;
(xvii) The form of each written warranty, guaranty, and or other similar undertaking with respect to products sold or contractual performance extended by Stronghold any Acquired Company during the past five years (other than as set forth in the ordinary course standard terms and conditions in purchase orders from customers);
(xviii) Each other Applicable Contract (other than Applicable Contracts not required to be listed above by reason of businessnot meeting dollar amounts) that is material to any Acquired Company; and
(xiixix) each amendment, supplement, and modification Any contracts in process of negotiation that would be included in the foregoing if in force.
(whether oral or writtenb) in respect of any of the foregoing. Except as set forth in Schedule 4(tPart 4.15(b) attached hereto, of the Disclosure Letter:
(i) Stronghold no Seller (and no Related Person of a Seller) has or may acquire any rights under, and no Seller has or may become subject to any obligation or liability under, any Contract that relates to the business of, or any of the assets owned or used by, any Acquired Company; and
(ii) no officer, agent, employee, consultant, or contractor of any Acquired Company is bound by any Contract that purports to limit the ability of such officer, agent, employee, consultant, or contractor to (A) engage in or continue any conduct, activity, or practice relating to the business of any Acquired Company, or (B) assign to any Acquired Company or to any other Person any rights to any invention, improvement, or discovery.
(c) Except as set forth in Part 4.15(c) of the Disclosure Letter, each Contract identified or required to be identified in Part 4.15(a) of the Disclosure Letter (other than under Section 4.15(a)(xx)) is in full force and effect and is valid and enforceable in accordance with its terms.
(d) Except as set forth in Part 4.15(d) of the Disclosure Letter:
(i) each Acquired Company is, and at all times has been, in material full compliance with all applicable terms and requirements of each Contract under which such company Acquired Company has or had any obligation or liability or by which such company Acquired Company or any of the assets owned or used by such company Acquired Company is or was bound; ;
(ii) to the Knowledge of the Acquired Companies, each Person other person or entity than an Acquired Company that has or had any obligation or liability under any Contract under which Stronghold an Acquired Company currently has or had during the past five (5) years any rights is, and at all times has been, in material full compliance with all applicable terms and requirements of such Contract; ;
(iii) to the Knowledge of Stronghold, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold any Acquired Company or other person or entity Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and ;
(iv) Stronghold no Acquired Company has not been given to or received from any other person or entity Person, at any time since January 1, 1994, any notice or other communication (whether oral or writtenwritten or, to the Knowledge of the Acquired Companies, oral) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid; and
(v) neither the execution and delivery of this Agreement nor the consummation or performance of any of the Contemplated Transactions will, directly or indirectly (with or without notice or lapse of time) contravene, conflict with, or result in full force, and binding on and enforceable against the other party a violation or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t) attached hereto, there are no renegotiation breach of any provision of, attempts or give any Person the right to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold under current or completed Contracts with any person or entity and, to the Knowledge of Stronghold, no such person or entity has made written demand for such renegotiation. The Contracts relating to the sale, design, or provision of products or services by Stronghold have been entered into in the ordinary course of business and have been entered into without the commission of any act alone or in concert with any other person or entity, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.declare a default or
Appears in 1 contract
Samples: Stock Purchase Agreement (Eagle Picher Technologies LLC)
Contracts; No Defaults. 4.18.1. The Xxxxxxxx Corresponding Schedule 4(t) attached hereto contains a complete and accurate list, and Stronghold has made available to the Purchaser true and complete copies, list of:
(i) each Applicable Contract that involves performance of services or delivery of goods or materials of an amount or value in excess of $25,000;
(iia) each Applicable Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less and that involves expenditures or receipts of Stronghold in excess of $25,000Business;
(iiib) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, of any real property, and each Material Contract involving the purchase or leasing of any personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 and with terms of less than one year)property;
(ivc) each Applicable Contract, including any joint venture, partnershippartnership or limited liability company agreement, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, Taxes or other liabilities by Stronghold any Acquired Company with any other person or entityPerson;
(vd) each Applicable Contract containing covenants that in any material way purport to restrict the business activity of Stronghold any Acquired Company or any affiliate Affiliate of the foregoing an Acquired Company or limit in any material way the freedom of Stronghold any Acquired Company or any affiliate Affiliate of the foregoing an Acquired Company to engage in any line of business, to do business or enter into relationships with other Persons, or to compete with any person or entityPerson;
(vi) each employment or consulting agreement of Stronghold;
(viie) each Applicable Contract providing for non-optional payments to or by any person or entity Person based on sales, purchases, or profitsprofits (including commissions), other than (i) agreements to make such payments to Persons in connection with referrals of business that is within the discretion of the Acquired Companies to accept or reject, (ii) to employees, and (iii) direct payments for goodsgoods or services;
(viiif) each power of attorney executed by Stronghold of Xxxxxxxx or any stockholder, officer or director of an Acquired Company relating to any of the Acquired Companies that is currently effective and outstanding;
(ix) each Applicable Contract entered into other than in the ordinary course of business that contains or provides for an express undertaking by Stronghold to be responsible for consequential damages;
(xg) each Applicable Contract for capital expenditures in excess of $25,00050,000;
(xih) each written warrantyMaterial Contract made since July 31, guaranty2001, and other similar undertaking with respect or that has any continuing limiting effect on the Acquired Companies, involving the settlement, release, compromise or waiver of any material rights, claims, obligations, duties or liabilities;
(i) each Applicable Contract relating to contractual performance extended by Stronghold other than in the ordinary course of businessindebtedness for borrowed money or guarantees related to indebtedness for borrowed money; and
(xiij) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing.
4.18.2. The Xxxxxxxx Corresponding Schedule sets forth the parties to the Applicable Contracts described in Section 4.18.1.
4.18.3. Except as set forth in Schedule 4(tthe Xxxxxxxx Corresponding Schedule:
(a) attached heretono Stockholder (and no Related Person of any Stockholder) has or may acquire any rights under, and no Stockholder has any current obligation or liability under, any Applicable Contract (excluding any Applicable Contract related to employment, consulting, or a similar relationship, and also excluding any agreement related to the Merger and/or any Contemplated Transaction); and
(b) to the Knowledge of Xxxxxxxx, no officer, director, or employee of any Acquired Company is bound by any Contract that purports to limit the ability of such Person to (i) Stronghold engage in or continue any conduct, activity, or practice relating to the business of any Acquired Company, or (ii) assign to any Acquired Company or to any other Person any rights to any invention, improvement, or discovery other than standard confidentiality or similar agreements with employees that are generally sought from all similarly situated employees and which do not materially interfere with the performance of normal duties of the applicable employee for the applicable Acquired Company.
4.18.4. Except as set forth in the Xxxxxxxx Corresponding Schedule, with respect to each Applicable Contract identified in Section 4.18.1 and each other Material Contract:
(a) each such Applicable Contract and Material Contract is in full force and effect and is valid and enforceable in accordance with its terms;
(b) each Acquired Company is, and at all times since July 31, 2001 has been, in material full compliance (or has timely cured any non-compliance) with all applicable terms and requirements of each Contract under which such company has or had any obligation or liability or by which such company or any of the assets owned or used by such company is or was bound; (ii) each other person or entity that has or had any obligation or liability under any Contract under which Stronghold has or had any rights is, and has been, in material compliance with all applicable terms and requirements of such Contract; (iii) to the Knowledge of Stronghold, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold or other person or entity the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and (iv) Stronghold has not been given or received from any other person or entity any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t) attached hereto, there are no renegotiation of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold under current or completed Contracts with any person or entity and, to the Knowledge of Stronghold, no such person or entity has made written demand for such renegotiation. The Contracts relating to the sale, design, or provision of products or services by Stronghold have been entered into in the ordinary course of business and have been entered into without the commission of any act alone or in concert with any other person or entity, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.Material Contract;
Appears in 1 contract
Contracts; No Defaults. Schedule 4(t) 5.18.1 The attached hereto SCHEDULE 5.18 contains a complete and accurate list, and Stronghold has Sellers have delivered or made available to the Purchaser true Crown Parties complete and complete copies, accurate copies of:
(a) Each Company Contract that relates to (i) each Applicable Contract that involves performance any indebtedness of services the Company for borrowed money, including indebtedness owed to either Seller or delivery to any Related Party of goods either Seller, or materials (ii) any Lien on any Leased Real Property leased to the Company by either Seller or by any Related Party of an amount or value in excess of $25,000either Seller;
(iib) each Applicable Each Company Contract that was not entered into in the ordinary course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less and that involves expenditures or receipts of Stronghold in excess of $25,000;
(iii) each lease, rental or occupancy joint venture agreement, license, installment and conditional sale a partnership agreement, and any other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 and with terms of less than one year);
(iv) each joint venture, partnership, and other Applicable Company Contract (however named) involving that involves a sharing of profits, losses, costs, or liabilities by Stronghold the Company with any other person or entityPerson;
(vc) each Applicable Each Company Contract that is a real property lease or sublease or a rental or occupancy agreement, whether the Company is the lessor or the lessee thereunder;
(d) Each Company Contract providing for the acquisition or sale of real property by the Company, including any Company Contract containing covenants an option or right of first refusal with respect to real property;
(e) Each Company Contract that is a personal property lease (whether or not a capital lease), rental agreement, or installment financing Contract, except for any such Company Contract that involves property with a value or aggregate payments of less than $50,000 and has a term of less than one year;
(f) Each Company Contract that is a collective bargaining agreement or other Contract with any labor union or other employee representative;
(g) Each Company Contract that is an employment or similar contract, and a written summary of each oral employment obligation with any officer or senior management employee of the Company;
(h) Each Company Contract that provides for any payment or other benefit to any Person upon a sale of capital stock or equity securities of the Company;
(i) Each Company Contract that grants to any Person a power of attorney on behalf of the Company;
(j) Each Company Contract entered into other than in the Ordinary Course of Business that contains or provides for an express undertaking by the Company to be liable or responsible for consequential damages;
(k) Each Company Contract that contains any way purport provision or covenant that purports to restrict the business activity of Stronghold or any affiliate of the foregoing or limit the freedom of Stronghold or any affiliate business activities of the foregoing Company or the Company's freedom to engage in any line of business or to compete with any person or entityPerson;
(vil) each employment or consulting agreement of Stronghold;
(vii) each Applicable Each Company Contract providing for payments to or by any person or entity based on sales, purchases, or profits, other than direct payments for goods;
(viii) each power of attorney executed by Stronghold that is currently effective and outstanding;
(ix) each Applicable Contract entered into other than in the ordinary course of business that contains or provides for an express undertaking by Stronghold to be responsible for consequential damages;
(x) each Applicable Contract for capital expenditures by the Company in excess of $25,00050,000;
(xim) each written warrantyEach Company Contract that provides for the license or use by the Company of any technology, guarantyproprietary information, and or Intellectual Property of another Person or for the license or use by any other similar undertaking Person of any technology, proprietary information, or Intellectual Property of the Company;
(n) Each Company Contract that contains a commitment of suretyship, guarantee, or indemnification by the Company, other than endorsements of instruments for deposit or collection;
(o) Each Company Contract that contains restrictions with respect to contractual performance extended by Stronghold dividends or other than distributions in respect of the capital stock or equity securities of the Company;
(p) Each Company Contract that was not entered into in the ordinary course Ordinary Course of businessBusiness and that involves receipts or expenditures of the Company in excess of $50,000; and
(xiiq) each amendmentEach Company Contract, supplement, and modification (whether oral or written) in respect of not within any of the foregoingforegoing categories, that involves the performance of services or the delivery of goods or materials to or by the Company of an amount or value in excess of $50,000, other than price sheets issued by the Company in the Ordinary Course of Business. SCHEDULE 5.18 sets forth with respect to each such Company Contract the name and date of and parties to the Contract, including the date(s) of any amendment(s), modification(s), or supplement(s).
5.18.2 Except as set forth in Schedule 4(t) attached heretoon SCHEDULE 5.18, (i) Stronghold neither Seller (and no Related Person of either Seller) has or may acquire any rights under, and neither Seller (and no Related Person of either Seller) has or may become subject to any obligation or liability under, any Contract that relates to the business of, or any of the properties owned or used by, the Company; and (ii) to the Knowledge of each Seller and the Company, no officer, director, agent, employee, consultant, or contractor of the Company is bound by any Contract that purports to limit the ability of such officer, director, agent, employee, consultant, or contractor (a) to engage in or continue any conduct, activity, or practice relating to the business of the Company, or (b) to assign to the Company or to any other Person any rights to any invention, improvement, or discovery.
5.18.3 Except as set forth on SCHEDULE 5.18, each Contract identified or required to be identified on SCHEDULE 5.18 is in full force and effect and is valid and enforceable in accordance with its terms.
5.18.4 Except as set forth on SCHEDULE 5.18, (i) the Company is, and at all times since January 1, 1992 has been, in material full compliance with all applicable terms and requirements of each Contract under which such company the Company has or had any obligation or liability or by which such company the Company or any of the assets properties owned or used by such company the Company is or was bound; (ii) each other person or entity that has or had any obligation or liability under any Contract under which Stronghold has or had any rights is, and has been, in material compliance with all applicable terms and requirements of such Contract; (iii) to the Knowledge of Stronghold, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold or other person or entity the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and (iv) Stronghold has not been given or received from any other person or entity any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t) attached hereto, there are no renegotiation of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold under current or completed Contracts with any person or entity and, to the Knowledge of Stronghold, no such person or entity has made written demand for such renegotiation. The Contracts relating to the sale, design, or provision of products or services by Stronghold have been entered into in the ordinary course of business and have been entered into without the commission of any act alone or in concert with any other person or entity, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.;
Appears in 1 contract
Samples: Stock Acquisition Agreement (Crown Pacific Partners L P)
Contracts; No Defaults. (a) Section 3.15(a) of Sellers’ Disclosure Schedule 4(t) attached hereto contains a complete and an accurate list, and Stronghold has made available to the Purchaser true and complete copies, list of:
(i) each Applicable material Company Contract that involves performance of services or delivery of goods or materials by the Company;
(ii) each Company Contract that involves performance of services for or delivery of goods or materials to the Company of an amount or value in excess of $25,000US$50,000;
(iiiii) each Applicable Company Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less Business and that involves expenditures the expenditure or receipts receipt by the Company of Stronghold an amount or value in excess of $25,000US$50,000;
(iiiiv) each leaseCompany Contract that is a (A) mortgage, rental or occupancy agreementindenture, licensenote, installment and conditional sale obligation or other instrument relating to the borrowing of money, (B) letter of credit, bond or other indemnity (including letters of credit, bonds or other indemnities as to which the Company is the beneficiary but excluding endorsements of instruments for collection in the Ordinary Course of Business) or (C) currency or interest rate swap, collar or hedge agreement, and other Applicable ;
(v) each Company Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, in any real or personal property (except personal property leases and installment and conditional sales agreements having (A) a value per item or aggregate payments of less than $25,000 US$50,000 and with terms (B) a term of less than one year);
(ivvi) each joint ventureCompany Contract with respect to Intellectual Property (including Contracts with current or former employees, partnershipconsultants or contractors regarding the appropriation or the non-disclosure of any of the Intellectual Property), except for any license implied by the sale of a product and perpetual, paid-up licenses for commonly available software programs with a value of less than US$50,000 under which the Company is the licensee, and the list identifies those pursuant to which the Company uses Intellectual Property owned by a third party;
(vii) each Company Contract with any labor union or other Applicable employee representative of a group of employees;
(viii) each Company Contract (however named) involving a sharing of profits, losses, costs, costs or liabilities Liabilities by Stronghold the Company with any other person or entityPerson;
(vix) each Applicable Company Contract containing covenants that in any way purport to restrict the business activity of Stronghold or any affiliate of the foregoing Company or limit the freedom of Stronghold or any affiliate of the foregoing Company to engage in any line of business or to compete with any person or entityPerson;
(vix) each employment or consulting agreement of Stronghold;
(vii) each Applicable Company Contract providing for payments to or by any person or entity Person based on or determined by reference to sales, purchases, purchases or profits, other than direct payments for goods; outstanding;
(viiixi) each power of attorney executed by Stronghold that is currently effective and outstanding;and
(ixxii) each Applicable Company Contract entered into other than in the ordinary course Ordinary Course of business Business that contains or provides for an express undertaking by Stronghold the Company to be responsible for consequential damages;
(xxiii) each Applicable Company Contract for capital expenditures in excess of $25,000;US$50,000; and
(xixiv) each written warranty, guaranty, and guaranty or other similar undertaking with respect to contractual performance extended by Stronghold the Company other than in the ordinary course Ordinary Course of business; andBusiness.
(xiib) Sellers have delivered to Buyer a true and complete copy (in the case of each amendment, supplement, written Company Contract) or an accurate and modification complete written summary (whether in the case of each oral or writtenCompany Contract) of each of the Company Contracts listed on Section 3.15(a) of Sellers’ Disclosure Schedule.
(c) Each Company Contract is in respect of full force and effect and is valid and enforceable in accordance with its terms. Neither the Company nor any other party to a Company Contract has Contravened any of the foregoing. Except as set forth in Schedule 4(t) attached hereto, (i) Stronghold is, and has been, in material compliance with all applicable terms and requirements of each Contract under which such company has or had any obligation or liability or by which such company or any of the assets owned or used by such company is or was bound; (ii) each other person or entity that has or had any obligation or liability under any Contract under which Stronghold has or had any rights is, and has been, in material compliance with all applicable terms and requirements of such a Company Contract; (iii) to the Knowledge of Stronghold, no . No event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, constitute or result directly or indirectly in a material violation or breach ofContravention of any Company Contract. To Sellers’ Knowledge, or give Stronghold or other person or entity the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and (iv) Stronghold Company has not been given or received from any other person or entity any notice or other communication (whether oral written or writtenoral) regarding any actual, alleged, possible, alleged or potential violation or breach of, or default under, Contravention of any Company Contract.
(d) No party to a Company Contract has repudiated any provision of it. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t) attached hereto, there There currently are no renegotiation renegotiations of, attempts to renegotiate, renegotiate or outstanding rights to renegotiate any material amounts paid or payable to Company Contracts, nor has any of Stronghold under current or completed Contracts with any person or entity and, to the Knowledge of Stronghold, no such person or entity has made written demand for such renegotiationrenegotiation been made. The Contracts relating No Seller has Knowledge that any party to the sale, design, or provision of products or services by Stronghold have been entered into in the ordinary course of business and have been entered into without the commission of any act alone or in concert with any other person or entity, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirementa Company Contract does not intend to renew it.
Appears in 1 contract
Samples: Stock Purchase Agreement
Contracts; No Defaults. Schedule 4(t(a) attached hereto Part 3.17(a) of the Disclosure Letter contains a complete and accurate list, and Stronghold has Sellers have heretofore delivered or made available to the Purchaser Buyer true and complete copies, of:
(i) each Applicable Company Contract that involves performance of services or delivery of goods or materials by the Company of an amount or value in excess of $25,000100,000;
(ii) each Applicable Company Contract that involves performance of services or delivery of goods or materials to the Company of an amount or value in excess of $100,000;
(iii) each Company Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less Business and that involves expenditures or receipts of Stronghold the Company in excess of $25,00050,000;
(iiiiv) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Company Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 50,000 and with terms of less than one year);
(ivv) each licensing agreement or other Company Contract with respect to patents, trademarks, copyrights, or other intellectual property, including agreements with current or former employees, consultants, or contractors regarding the appropriation or the nondisclosure of any of the Intellectual Property Assets;
(vi) each collective bargaining agreement and other Company Contract to or with any labor union or other employee representative of a group of employees;
(vii) each joint venture, partnership, and other Applicable Company Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold the Company with any other person or entityPerson;
(vviii) each Applicable Company Contract containing covenants that in any way purport to restrict the business activity of Stronghold the Company or any affiliate Affiliate of the foregoing Company or limit the freedom of Stronghold the Company or any affiliate Affiliate of the foregoing Company to engage in any line of business or to compete with any person or entityPerson;
(viix) each employment or consulting agreement of Stronghold;
(vii) each Applicable Company Contract providing for payments to or by any person or entity Person based on sales, purchases, or profits, other than direct payments for goods;
(viiix) each power of attorney executed by Stronghold affecting the Company that is currently effective and outstanding;
(ixxi) each Applicable Company Contract entered into other than in the ordinary course Ordinary Course of business Business that contains or provides for an express undertaking by Stronghold the Company to be responsible for consequential damages;
(xxii) each Applicable Company Contract for capital expenditures in excess of $25,00050,000;
(xixiii) each written warranty, guaranty, and or other similar undertaking with respect to contractual performance extended by Stronghold the Company;
(xiv) each Company Contract that involves a bank loan, line of credit or other than in agreement regarding the ordinary course borrowing of businessmoney; and
(xiixv) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. .
(a) of the Disclosure Letter sets forth, where applicable, reasonably complete details concerning such Contracts (including the parties to the Contracts, the amount of the remaining commitment of the Company under the Contracts) and any oral modifications of such Contracts.
(b) Except as set forth in Schedule 4(tPart 3.17(b) attached hereto, of the Disclosure Letter:
(i) Stronghold none of the Sellers (and no Related Person of any Seller) has or may acquire any rights under or has or may become subject to any obligation or liability under, any Contract that relates to the business of, or any of the assets owned or used by, the Company; and
(ii) no Key Personnel, or to Sellers' Knowledge, no other agent, employee, consultant, or contractor of the Company is bound by any Contract that purports to limit the ability of such officer, director, agent, employee, consultant, or contractor to (A) engage in or continue any conduct, activity, or practice relating to the business of the Company, or (B) assign to the Company or to any other Person any rights to any invention, improvement, or discovery.
(c) To Sellers' Knowledge, except as set forth in Part 3.17(c) of the Disclosure Letter, each Contract identified or required to be identified in Part 3.17(a) of the Disclosure Letter is in full force and effect and is valid and enforceable in accordance with its terms.
(d) Except as set forth in Part 3.17(d) of the Disclosure Letter:
(i) the Company is, and at all times since the date of the respective Contracts (including any Contracts which have been superseded by the present Contracts) (A) has been, in material full compliance with all applicable material terms and requirements of each Contract under which such company the Company has or had any obligation or liability or by which such company the Company or any of the assets owned or used by such company the Company is or was bound; , (B) has complied in all respects with all requirements for all Legal Requirements pertaining to each Contract, and (C) any representations and certifications executed, acknowledged or set forth in or pertaining to each Contract were complete and correct in all material respects as of their effective date, except, in each case, where noncompliance will not have a Material Adverse Effect;
(ii) to Sellers' Knowledge, each other person or entity Person that has or had any obligation or liability under any Contract under which Stronghold the Company has or had any rights is, and at all times since March 30, 1987, has been, in material full compliance with all applicable terms and requirements of such Contract; ;
(iii) to the Knowledge of Stronghold, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold the Company or any other person or entity Person the contractual right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable ContractCompany Contract except where the consequences of such event will not have a Material Adverse Effect; and and
(iv) Stronghold the Company, since the date of the respective Contracts (including any Contracts which have been superseded by the present Contracts), has not been given or to nor received from any other person or entity Person any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t.
(e) attached hereto, there There are no renegotiation renegotiations of, attempts to renegotiate, or outstanding rights to renegotiate any any, or to Seller's Knowledge attempts to renegotiate, material amounts paid or payable to any of Stronghold the Company under current or completed Contracts with any person or entity and, to the Knowledge of Stronghold, Person and no such person or entity Person has made written demand for such renegotiation. renegotiations.
(f) The Contracts relating to the sale, design, manufacture, or provision of products or services by Stronghold the Company have been entered into in the ordinary course Ordinary Course of business Business and have been entered into without the commission of any act alone or in concert with any other person or entityPerson, or any consideration having been paid or promised, that is or to Sellers' Knowledge would be in violation of any Legal Requirement. To Sellers' Knowledge, all such Contracts can be completed at a profit, within the time specified therein, utilizing only personnel now employed by and assets now owned by the Company.
(g) Except as set forth in Part 3.17(g) of the Disclosure Letter:
(A) the Company has complied with all material terms and conditions of each Government Contract or Government Subcontract, and (B) all representations and certifications executed, acknowledged or set forth in or pertaining to each Government Contract or Government Subcontract were complete and correct in all respects as of their effective date or as subsequently modified prior to the Effective Date and the Company has complied in all material respects with all such representations and certifications;
(ii) (A) neither the U.S. Government nor any prime contractor, subcontractor or other Person has notified the Company, either in writing or orally, that the Company has breached or violated any Legal Requirement, certification, representation, clause, provision or other requirement pertaining to any Government Contract or Government Subcontract, (B) no termination for convenience, termination for default, cure notice or show cause notice is currently in effect pertaining to any Government Contract or Government Subcontract, (C) no material cost incurred by the Company pertaining to any Government Contract or Government Subcontract has been questioned or challenged by representatives of the Administrative Contracting Officer or the Defense Contract Audit Agency, has been disallowed by the U.S. Government, or has been or, to Sellers' Knowledge, now is, the subject of any investigation, and (D) no amount of money due to the Company, pertaining to any Government Contract or Government Subcontract has been withheld or set off nor to Sellers' Knowledge, has any claim been made to withhold or set off money, and to Sellers' Knowledge, the Company is entitled to all progress payments received with respect thereto;
(A) To Sellers' Knowledge, neither the Company nor any of its directors, officers or employees or, to Sellers' Knowledge, its consultants or agents is or during the past three years has been under administrative, civil or criminal investigation, indictment or information by any Governmental Body with respect to any alleged irregularity, misstatement or omission arising under or relating to any Government Contract or Government Subcontract, and (B) during the past five (5) years, the Company has not conducted or initiated any internal investigation or made a voluntary disclosure to any Governmental Body with respect to any alleged irregularity, misstatement or omission arising under or relating to a Government Contract or Government Subcontract;
(iv) to Sellers' Knowledge, there exist (A) no outstanding claims against the Company, either by any Governmental Body or by any prime contractor, subcontractor, vendor or other Person, arising under or relating to any Government Contract or Government Subcontract and (B) no material disputes between the Company and any Governmental Body under the Contract Disputes Act or any other federal statute or regulation or between the Company and any prime contractor, subcontractor or vendor arising under or relating to any Government Contract or Government Subcontract;
(v) to Sellers' Knowledge, the Company has no interest in any pending or potential claim against any Governmental Body or any prime contractor, subcontractor or vendor arising under or relating to any Government Contract or Government Subcontract, and Part 3.17(g) of the Disclosure Letter lists each Government Contract or Government Subcontract which is currently under audit by any Governmental Body or any other person that is a party to such Government Contract or Government Subcontract;
(vi) the Company has not been debarred or suspended from participation in the award of contracts with the DOD or any other Governmental Body (excluding for this purpose ineligibility to bid on certain contracts due to generally applicable bidding requirements), there exist no facts or circumstances that would warrant suspension or debarment or the finding of non-responsibility or ineligibility on the part of the Company, no payment has been made by the Company or by any Person on behalf of the Company in connection with any Governmental Contract or Governmental Subcontract in violation of applicable procurement Legal Requirements or in violation of, or requiring disclosure pursuant to, the Foreign Corrupt Practices Act, and the Company's cost accounting and procurement systems and the associated entries reflected in the Company's financial records with respect to the Government Contracts and Government Subcontracts are in compliance in all material respects with all Legal Requirements.
(h) The EDS Contract referenced in Part 3.17(g)(i) of the Disclosure Letter was not granted because of any characterization of the Company as a "Small Disadvantaged Business," and such contract was not part of any set-aside for Small Disadvantaged Businesses.
Appears in 1 contract
Samples: Stock Purchase Agreement (Edo Corp)
Contracts; No Defaults. (a) Schedule 4(t3.16(a) attached hereto contains a complete and accurate list, and Stronghold Seller has made available delivered to the Purchaser Buyer true and complete copies, of:
(i) each Applicable Contract relating to the business of the Network that involves performance of services or delivery of goods or materials by Seller or a Company of an amount or value in excess of $25,00050,000;
(ii) each Applicable Contract relating to the business of the Network that involves performance of services or delivery of goods or materials to Seller or a Company of an amount or value in excess of $50,000;
(iii) each Contract relating to the business of the Network that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less Business and that involves expenditures or receipts of Stronghold Seller or a Company in excess of $25,00050,000;
(iiiiv) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract relating to the business of the Network affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 50,000 and with terms of less than one year);
(ivv) each licensing agreement or other Contract relating to the business of the Network with respect to patents, trademarks, copyrights, or other intellectual property, including agreements with current or former employees, consultants, or contractors regarding the appropriation or the non-disclosure of any Intellectual Property Assets;
(vi) each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold Seller or a Company or with respect to the Network business with any other person or entityPerson;
(vvii) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold Seller or a Company or any affiliate Affiliate of the foregoing a Company or limit the freedom of Stronghold Seller or a Company or any affiliate Affiliate of the foregoing a Company to engage in any line of business or to compete with any person or entityPerson;
(viviii) each employment or consulting agreement of Stronghold;
(vii) each Applicable Contract providing for payments to or by any person or entity Person based on sales, purchases, or profits, other than direct payments for goods;
(viiiix) each power of attorney executed by Stronghold binding on Seller (as relates to the Network) or a Company that is currently effective and outstanding;
(ixx) each Applicable Contract entered into other than in the ordinary course Ordinary Course of business Business that contains or provides for an express undertaking by Stronghold Seller (as relates to the Network) or a Company to be responsible for consequential damages;
(xxi) each Applicable Contract for capital expenditures by Seller or a Company with respect to the Network business in excess of $25,00050,000;
(xixii) each written warranty, guaranty, and or other similar undertaking with respect to contractual performance extended by Stronghold Seller or a Company with respect to the Network business other than in the ordinary course Ordinary Course of businessBusiness;
(xiii) each Contract that is a talent or programming Contract or in any way obligates Seller to pay any royalty, residual, license fee or other similar payment in respect of any third parties’ literary, artistic, trademark, copyright, music performance, master use, synchronization and other similar intellectual property rights and their publicity, privacy and publishing rights; and
(xiixiv) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. .
(b) Except as set forth in Schedule 4(t3.16(b), no officer, director, or employee of Seller is bound by any Contract that purports to limit the ability of such Person to (A) attached heretoengage in or continue any conduct, activity, or practice relating to the business of the Network, or (B) assign to a Company or to any other Person any rights to any invention, improvement, or discovery.
(c) Except as set forth in Schedule 3.16(c), each Contract listed or required to be listed in Schedule 3.16(a) is in full force and effect and is valid and enforceable in accordance with its terms.
(d) Except as set forth in Schedule 3.16(d):
(i) Stronghold is, each of Seller and each Company is and has been, been in material full compliance with all applicable terms and requirements of each Contract under which listed or required to be listed in Schedule 3.16(a), including, without limitation, all “most favored nations” provisions of such company has or had any obligation or liability or by which such company or any of the assets owned or used by such company is or was bound; Contracts;
(ii) each other person party to each Contract listed or entity that has or had any obligation or liability under any Contract under which Stronghold has or had any rights required to be listed in Schedule 3.16(a) is, and has beento Seller’s Knowledge, in material full compliance with all applicable terms and requirements of such Contract; ;
(iii) to the Knowledge of Stronghold, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold Seller or a Company or other person or entity Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable ContractContract listed or required to be listed in Schedule 3.16(a); and and
(iv) Stronghold neither Seller nor a Company has not been given to or received from any other person or entity Person, at any time since June 30, 1999, any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is validlisted or required to be listed in Schedule 3.16(a), except for notices of violations, breaches or defaults, the results of which would not result in full force, and binding on and enforceable against the ability for the other party or parties to such contract in accordance with its terms and provisions. Except Contract to exercise a right or remedy that could have a material adverse effect on Seller or the Company, as disclosed on Schedule 4(tthe case may be.
(e) attached heretoTo Seller’s Knowledge, there are no renegotiation renegotiations of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold a Company or with respect to the Companies’ business under current or completed Contracts with any person or entity and, to the Knowledge of Stronghold, Person and no such person or entity Person has made written demand for such renegotiation. .
(f) The Contracts relating to the sale, design, manufacture, or provision of products or services by Stronghold the Companies have been entered into in the ordinary course Ordinary Course of business Business and have been entered into without the commission of any act alone or in concert with any other person or entityPerson, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.
Appears in 1 contract
Contracts; No Defaults. Schedule 4(t(a) attached hereto Part 3.17(a) of the Disclosure Letter contains a complete and accurate list, and Stronghold has made available Sellers have delivered to the Purchaser Buyer true and complete copies, of:
(i) each Applicable Contract that involves performance of services or delivery of goods or materials by one or more Acquired Companies of an amount or value in excess of $25,000$ ;
(ii) each Applicable Contract that involves performance of services or delivery of goods or materials to one or more Acquired Companies of an amount or value in excess of $ ;
(iii) each Applicable Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less Business and that involves expenditures or receipts of Stronghold one or more Acquired Companies in excess of $25,000$ ;
(iiiiv) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 $ year); and with terms of less than one year)one
(v) each licensing agreement or other Applicable Contract with respect to patents, trademarks, copyrights, or other intellectual property, including agreements with current or former employees, consultants, or contractors regarding the appropriation or the non-disclosure of any of the Intellectual Property Assets;
(ivvi) each collective bargaining agreement and other Applicable Contract to or with any labor union or other employee representative of a group of employees;
(vii) each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold any Acquired Company with any other person or entityPerson;
(vviii) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold any Acquired Company or any affiliate Affiliate of the foregoing an Acquired Company or limit the freedom of Stronghold any Acquired Company or any affiliate Affiliate of the foregoing an Acquired Company to engage in any line of business or to compete with any person or entityPerson;
(vi) each employment or consulting agreement of Stronghold;
(viiix) each Applicable Contract providing for payments to or by any person or entity Person based on sales, purchases, or profits, other than direct payments for goods;
(viiix) each power of attorney executed by Stronghold that is currently effective and outstanding;
(ixxi) each Applicable Contract entered into other than in the ordinary course Ordinary Course of business Business that contains or provides for an express undertaking by Stronghold any Acquired Company to be responsible for consequential damages;
(xxii) each Applicable Contract for capital expenditures in excess of $25,000$ ;
(xixiii) each written warranty, guaranty, and or other similar undertaking with respect to contractual performance extended by Stronghold any Acquired Company other than in the ordinary course Ordinary Course of businessBusiness; and
(xiixiv) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. Part 3.17(a) of the Disclosure Letter sets forth reasonably complete details concerning such Contracts, including the parties to the Contracts, the amount of the remaining commitment of the Acquired Companies under the Contracts, and the Acquired Companies' office where details relating to the Contracts are located.
(b) Except as set forth in Schedule 4(tPart 3.17(b) attached hereto, of the Disclosure Letter:
(i) Stronghold neither Seller (and no Related Person of either Seller) has or may acquire any rights under, and neither Seller has or may become subject to any obligation or liability under, any Contract that relates to the business of, or any of the assets owned or used by, any Acquired Company; and
(ii) [to the Knowledge of Sellers and the Acquired Companies,] no officer, director, agent, employee, consultant, or contractor of any Acquired Company is bound by any Contract that purports to limit the ability of such officer, director, agent, employee, consultant, or contractor to (A) engage in or continue any conduct, activity, or practice relating to the business of any Acquired Company, or (B) assign to any Acquired Company or to any other Person any rights to any invention, improvement, or discovery.
(c) Except as set forth in Part 3.17(c) of the Disclosure Letter, each Contract identified or required to be identified in Part 3.17(a) of the Disclosure Letter is in full force and effect and is valid and enforceable in accordance with its terms.
(d) Except as set forth in Part 3.17(d) of the Disclosure Letter:
(i) each Acquired Company is, and at all times since , 19 has been, in material full compliance with all applicable terms and requirements of each Contract under which such company Acquired Company has or had any obligation or liability or by which such company Acquired Company or any of the assets owned or used by such company Acquired Company is or was bound; ;
(ii) each other person or entity Person that has or had any obligation or liability under any Contract under which Stronghold an Acquired Company has or had any rights is, and at all times since , 19 has been, in material full compliance with all applicable terms and requirements of such Contract; ;
(iii) to the Knowledge of Stronghold, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold any Acquired Company or other person or entity Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and and
(iv) Stronghold no Acquired Company has not been given to or received from any other person or entity Person, at any time since , 19 , any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t.
(e) attached hereto, there There are no renegotiation renegotiations of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold Acquired Company under current or completed Contracts with any person or entity andPerson and [, to the Knowledge of Stronghold, Sellers and the Acquired Companies,] no such person or entity Person has made written demand for such renegotiation. .
(f) The Contracts relating to the sale, design, manufacture, or provision of products or services by Stronghold the Acquired Companies have been entered into in the ordinary course Ordinary Course of business Business and have been entered into without the commission of any act alone or in concert with any other person or entityPerson, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.
Appears in 1 contract
Samples: Stock Purchase Agreement
Contracts; No Defaults. (a) Item 3.14(a) of the Vanguard Disclosure Schedule 4(t) attached hereto contains a an accurate and complete and accurate list, and Stronghold has made available the Vanguard Stockholders have delivered to the Purchaser true TACT accurate and complete copies, of:
(i) each Applicable Contract that involves the payment of money, performance of services or delivery of goods or materials by one or more Vanguard Companies of an amount or value in excess of $25,00050,000;
(ii) each Applicable Contract that involves performance of services or delivery of goods or materials to one or more Vanguard Companies of an amount or value in excess of $50,000;
(iii) each Applicable Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less Business and that involves expenditures or receipts of Stronghold one or more Vanguard Companies in excess of $25,00050,000;
(iiiiv) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, in any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 50,000 and with terms a term of less than one year);
(ivv) each joint ventureApplicable Contract with any labor union or other employee representative of a group of employees relating to wages, partnership, hours and other conditions of employment;
(vi) each Applicable Contract (however named) involving a sharing of profits, losses, costs, costs or liabilities by Stronghold any one or more Vanguard Companies with any other person or entityPerson;
(vvii) each Applicable Contract containing covenants that in any way purport to restrict the any Vanguard Company's business activity of Stronghold or any affiliate of the foregoing or limit the freedom of Stronghold or any affiliate of the foregoing Vanguard Company to engage in any line of business or to compete with any person or entityPerson;
(vi) each employment or consulting agreement of Stronghold;
(viiviii) each Applicable Contract providing for payments to or by any person or entity Person based on sales, purchases, purchases or profits, other than direct payments for goods;
(viiiix) each power of attorney executed by Stronghold of any Vanguard Company that is currently effective and outstanding;
(ixx) each Applicable Contract entered into other than in the ordinary course Ordinary Course of business Business that contains or provides for an express undertaking by Stronghold any one or more Vanguard Companies to be responsible for consequential damages;
(xxi) each Applicable Contract for capital expenditures in excess of $25,00050,000;
(xixii) each written warranty, guaranty, and guaranty and/or other similar undertaking with respect to contractual performance extended by Stronghold any one or more Vanguard Companies other than in the Ordinary Course of Business;
(xiii) any Applicable Contract for the development, modification or enhancement of computer software products;
(xiv) any Applicable Contract that is a license (whether as licensor or licensee), or sublicense, royalty, permit, franchise agreement, including, without limitation, any agreement pursuant to which any Vanguard Company licenses any Intellectual Property Assets or licenses or delivers any of its software or other products and services to any Third Party (other than ordinary course licenses to end-users);
(xv) Applicable Contract that provides for the employment of businessany officer, employee, consultant or agent or any other type of Contract, commitment or understanding with any officer, employee, consultant or agent which (except as otherwise generally provided by applicable law) is not immediately terminable without cost or other Liability at or at any time after the Closing Date;
(xvi) Applicable Contract that provides for any profit-sharing, bonus, stock option, stock appreciation right, pension, retirement, disability, stock purchase, hospitalization, insurance or similar plan or agreement, formal or informal, providing benefits to any current or former director, officer, employee, agent or consultant;
(xvii) any Applicable Contract that is a material indenture, mortgage, promissory note, loan agreement, guarantee or other material agreement or commitment for the borrowing of money, for a line of credit or for a leasing transaction of a type required to be capitalized in accordance with Statement of Financial Accounting Standards No. 13 of the Financial Accounting Standards Board;
(xviii) each Applicable Contract that is a material agreement, instrument or other arrangement granting or permitting any Encumbrance on any of the properties, assets or rights of any Vanguard Company;
(xix) each Applicable Contract that is a contract or commitment for charitable contributions;
(xx) each Applicable Contract that is an agreement or contract with a "disqualified individual" (as defined in Section 280G(c) of the Code), which could result in a disallowance of the deduction for any "excess parachute payment" (as defined in Section 280G(b)(i) of the Code) under Section 280G of the Code;
(xxi) each Applicable Contract that restricts any Vanguard Company from engaging in any aspect of its business or competing in any line of business in any geographic area;
(xxii) any other Applicable Contract that is material to any Vanguard Company; and
(xiixxiii) each amendment, supplementsupplement and modification, and each agreement to enter into any such amendment, supplement or modification (whether oral or written) ), in respect of any of the foregoing. .
(b) Except as set forth in Schedule 4(tItem 3.14(b) attached heretoof the Vanguard Disclosure Schedule, no Vanguard Stockholder (and no Related Person of any Vanguard Stockholder) has or may acquire any rights under, and no Vanguard Stockholder has or may become subject to any obligation or liability under, any Contract that relates to the business or any of the properties or assets owned or used by any Vanguard Company.
(c) To the Knowledge of the Vanguard Companies and the Vanguard Stockholders, no officer, director, agent, employee, consultant or contractor of any Vanguard Company is bound by any Contract that purports to limit the ability of such Person to (i) Stronghold isengage in or continue any conduct, activity or practice relating to the business of any Vanguard Company, or (ii) assign to any Vanguard Company or to any other Person any rights to any invention, improvement or discovery.
(d) Except as set forth in Item 3.14(d) of the Vanguard Disclosure Schedule, each Contract identified or required to be identified in Section 3.14(a) of the Vanguard Disclosure Schedule is in full force and effect and is valid and enforceable in accordance with its terms.
(e) Except as set forth in Item 3.14(e)of the Vanguard Disclosure Schedule, and has beenother than with regard to any Applicable Contract, the termination of which would not, individually or in material the aggregate, have a Material Adverse Effect on the Vanguard Companies:
(i) Each Vanguard Company is in compliance with all applicable terms and requirements of each Contract under which such company Vanguard Company has or had any obligation or liability Liability or by which such company Vanguard Company or any of the assets owned or used by such company Vanguard Company is or was bound; ;
(ii) each other person or entity Person that has or had any obligation or liability Liability under any Contract under which Stronghold any Vanguard Company has or had any rights is, and has been, is in material compliance with all applicable terms and requirements of such Contract; ;
(iii) to the Knowledge of Stronghold, no event has occurred or circumstance exists that (with or without notice or lapse of timetime or both) may contravene, conflict with, with or result in a material violation or breach Breach of, or give Stronghold any Vanguard Company or other person or entity Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or payment under, or to cancel, terminate, terminate or modify, any Applicable Contract; and and
(iv) Stronghold no Vanguard Company has not been given to or received from any other person or entity Person, any notice or other communication (whether oral or written) regarding any actual, alleged, possible, possible or potential violation or breach Breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t.
(f) attached hereto, there There are no renegotiation renegotiations of, attempts to renegotiate, renegotiate or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold Vanguard Company under current or completed Applicable Contracts with any person Person having the contractual or entity and, statutory right to the Knowledge of Stronghold, demand or require such renegotiation and no such person or entity Person has made written demand for such renegotiation. The Contracts .
(g) Each Contract relating to the sale, design, or provision of products or services by Stronghold have to which any Vanguard Company is a party has been entered into in the ordinary course Ordinary Course of business Business of such Vanguard Company and have has been entered into without the commission of any act alone or in concert with any other person or entityPerson, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.
Appears in 1 contract
Contracts; No Defaults. (a) Schedule 4(t3.17(a) attached hereto contains a complete and accurate list, and Stronghold has made available Sellers have delivered to the Purchaser Buyer true and complete copies, of:
(i) each Applicable Contract that involves performance of services or delivery of goods or materials by the Company of an amount or value in excess of $25,0005,000 (CAD);
(ii) each Applicable Contract that involves performance of services or delivery of goods or materials to the Company of an amount or value in excess of $5,000 (CAD);
(iii) each Applicable Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less Business and that involves expenditures or receipts of Stronghold the Company in excess of $25,0005,000 (CAD);
(iiiiv) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 5,000 (CAD) and with terms of less than one year);
(ivv) each licensing agreement or other Applicable Contract with respect to patents, trademarks, copyrights, or other intellectual property, including agreements with current or former employees, consultants, or contractors regarding the appropriation or the non-disclosure of any of the Intellectual Property Assets;
(vi) each collective bargaining agreement and other Applicable Contract to or with any labor union or other employee representative of a group of employees;
(vii) each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold the Company with any other person or entityPerson;
(vviii) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold the Company or any affiliate Affiliate of the foregoing Company or limit the freedom of Stronghold the Company or any affiliate Affiliate of the foregoing Company to engage in any line of business or to compete with any person or entityPerson;
(vi) each employment or consulting agreement of Stronghold;
(viiix) each Applicable Contract providing for payments to or by any person or entity Person based on sales, purchases, or profits, other than direct payments for goods;
(viiix) each power of attorney executed by Stronghold that is currently effective and outstanding;
(ixxi) each Applicable Contract entered into other than in the ordinary course Ordinary Course of business Business that contains or provides for an express undertaking by Stronghold the Company to be responsible for consequential damages;
(xxii) each Applicable Contract for capital expenditures in excess of $25,0005,000 (CAD);
(xixiii) each written warranty, guaranty, and or other similar undertaking with respect to contractual performance extended by Stronghold the Company other than in the ordinary course Ordinary Course of businessBusiness; and
(xiixiv) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. Schedule 3.17(a) sets forth reasonably complete details concerning such Contracts, including the parties to the Contracts, the amount of the remaining commitment of the Company under the Contracts, and the Company’s office where details relating to the Contracts are located.
(b) Except as set forth in Schedule 4(t) attached hereto, 3.17(b):
(i) Stronghold neither Seller (and no Related Person of either Seller) has or may acquire any rights under, and neither Seller has or may become subject to any obligation or liability under, any Contract that relates to the business of, or any of the assets owned or used by, the Company; and
(ii) to the Knowledge of Sellers and the Company, no officer, director, agent, employee, consultant, or contractor of the Company is bound by any Contract that purports to limit the ability of such officer, director, agent, employee, consultant, or contractor to (A) engage in or continue any conduct, activity, or practice relating to the business of the Company, or (B) assign to the Company or to any other Person any rights to any invention, improvement, or discovery.
(c) Except as set forth in Schedule 3.17(c), each Contract identified or required to be identified in Schedule 3.17(a) is in full force and effect and is valid and enforceable in accordance with its terms.
(d) Except as set forth in Schedule 3.17(d):
(i) the Company is, and at all times since December 31, 2003 has been, in material full compliance with all applicable terms and requirements of each Contract under which such company the Company has or had any obligation or liability or by which such company the Company or any of the assets owned or used by such company the Company is or was bound; ;
(ii) to the Knowledge of the Sellers, each other person or entity counterparty that has or had any obligation or liability under any Contract under which Stronghold the Company has or had any rights is, and at all times since December 31, 2003 has been, in material full compliance with all applicable terms and requirements of such Contract; ;
(iii) to the Knowledge of Stronghold, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold the Company or other person or entity Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and and
(iv) Stronghold the Company has not been given to or received from any other person or entity Person, at any time since December 31, 2003, any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t.
(e) attached hereto, there There are no renegotiation renegotiations of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold the Company under current or completed Contracts with any person or entity and, to the Knowledge of Stronghold, Person and no such person or entity Person has made written demand for such renegotiation. .
(f) The Contracts relating to the sale, design, manufacture, or provision of products or services by Stronghold the Company have been entered into in the ordinary course Ordinary Course of business Business and have been entered into without the commission of any act alone or in concert with any other person or entityPerson, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.
Appears in 1 contract
Samples: Stock Purchase Agreement (Wireless Ronin Technologies Inc)
Contracts; No Defaults. (a) Schedule 4(t3.15(a) attached hereto contains a complete and accurate list, and Stronghold the Company has made available delivered to the Per-Se and Purchaser true and complete copies, of:
(i) each Applicable Contract that involves performance of services or delivery of goods or materials by the Company of an amount or value in excess of $25,00010,000;
(ii) each Applicable Contract that involves performance of services or delivery of goods or materials to the Company of an amount or value in excess of $5,000;
(iii) each Contract pursuant to which the Company licenses other persons to use any of the Software or has agreed to support, maintain, upgrade, enhance, modify, or consult with respect to any of the Software, or pursuant to which other persons license Company to use the Licensed Software;
(iv) each Contract by which the Company has agreed to design, develop, author or create any new custom, or customized software for any third party;
(v) each Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less Business and that involves expenditures or receipts of Stronghold the Company in excess of $25,00010,000;
(iiivi) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 5,000 and with terms of less than one year);
(ivvii) each Contract with respect to Intellectual Property Assets, and each form of Contract with former employees, consultants, or contractors regarding the appropriation or the non-disclosure of any of the Intellectual Property Assets;
(viii) each collective bargaining agreement and other Contract to or with any labor union or other employee representative of a group of employees;
(ix) each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold the Company with any other person or entityPerson;
(vx) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold the Company or any affiliate of the foregoing Owner or limit the freedom of Stronghold the Company or any affiliate of the foregoing Owner to engage in any line of business or to compete with any person or entityPerson;
(vixi) each employment or consulting agreement of Stronghold;
(vii) each Applicable Contract providing for payments to or by any person or entity Person based on sales, purchases, or profits, other than direct payments for goodsgoods and other than commission arrangements with sales employees of the Company entered into in the Ordinary Course of Business;
(viiixii) each power of attorney executed by Stronghold that is currently effective and outstanding;
(ixxiii) each Applicable Contract entered into other than in the ordinary course of business that contains or provides for an express undertaking by Stronghold to be responsible for consequential damagescapital expenditures;
(x) each Applicable Contract for capital expenditures in excess of $25,000;
(xixiv) each written warranty, guaranty, and or other similar undertaking with respect to contractual performance extended by Stronghold the Company other than in the ordinary course Ordinary Course of businessBusiness; and
(xiixv) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. Except as set forth in Schedule 4(tforegoing Contracts, identified or required to be identified.
(b) attached hereto, No Owner (iand no Related Person of any Owner) Stronghold is, and has been, in material compliance with all applicable terms and requirements of each Contract under which such company has or had may acquire any rights under, or has or may become subject to any obligation or liability or by which such company under, any Contract that relates to the Business of, or any of the assets owned or used by such company by, the Company, including any Acquired Asset or Assumed Liability.
(c) Each Assumed Contract is or was bound; in full force and effect and is valid and enforceable in accordance with its terms.
(iid) Except as set forth in Schedule 3.15(d):
(i) The Company has complied with all applicable material terms and requirements of each other person or entity that Assumed Contract under which the Company has or had any obligation or liability under any Contract under which Stronghold has or had any rights is, and has been, in material compliance with all applicable terms and requirements of such Contract; liability;
(iiiii) to the Knowledge of Strongholdthe Company, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold the Company or other person or entity Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Assumed Contract; and and
(iviii) Stronghold The Company has not been given to or received from any other person or entity Person any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Assumed Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t.
(e) attached hereto, there There are no renegotiation renegotiations of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold the Company under current or completed Assumed Contracts with any person or entity and, Person and to the Knowledge of Stronghold, the Company and the Owners no such person or entity Person has made written demand for such renegotiation. .
(f) The Contracts relating Company has no existing obligations, and the transactions contemplated by this Agreement will not result in the creation of any obligations, to the saleImperial Bank pursuant to (i) that certain Letter Agreement by and between SoftLinc, designInc. and Imperial Bank dated September 1, 1997, (ii) that certain Software License Agreement by and between SoftLinc, Inc. and Imperial Bank dated October 15, 1997, or provision of products or services (iii) that certain Software Bailment Agreement by Stronghold have been entered into in the ordinary course of business and have been entered into without the commission of any act alone or in concert with any other person or entitybetween SoftLinc, or any consideration having been paid or promisedInc., that is or would be in violation of any Legal RequirementFort Knox Xxxrow Services, Inc., and Imperial Bank dated October 15, 1997.
Appears in 1 contract
Contracts; No Defaults. Schedule 4(t(a) attached hereto Part 3.16(a) of the Disclosure Letter contains a complete and accurate list, and Stronghold the Company has made available delivered to the Purchaser Parent true and complete copies, of:
(i) each Applicable Contract that involves performance of services or delivery of goods or materials by the Company of an amount or value in excess of $25,000;
(ii) each Applicable Contract that was not entered into in involves performance of services or delivery of goods or materials to the ordinary course Company of business an amount or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less and that involves expenditures or receipts of Stronghold value in excess of $25,000;
(iii) each Applicable Contract that was not entered into in the Ordinary Course of Business and that involves expenditures or receipts of the Company in excess of $10,000;
(iv) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 and with terms of less than one year);
(ivv) each licensing agreement or other Applicable Contract with respect to patents, trademarks, copyrights, or other intellectual property, including agreements with current or former Employees, consultants, or contractors regarding the appropriation or the non-disclosure of any of the Intellectual Property Assets;
(vi) each collective bargaining agreement and other Applicable Contract to or with any labor union or other Employee representative of a group of Employees;
(vii) each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold the Company with any other person or entityPerson;
(vviii) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold the Company or any affiliate Affiliate of the foregoing Company or limit the freedom of Stronghold the Company or any affiliate Affiliate of the foregoing Company to engage in any line of business or to compete with any person or entityPerson;
(vi) each employment or consulting agreement of Stronghold;
(viiix) each Applicable Contract providing for payments to or by any person or entity Person based on sales, purchases, or profits, other than direct payments for goods;
(viiix) each power of attorney executed by Stronghold the Company that is currently effective and outstanding;
(ixxi) each Applicable Contract entered into other than in the ordinary course Ordinary Course of business Business that contains or provides for an express undertaking by Stronghold the Company to be responsible for consequential damages;
(xxii) each Applicable Contract for capital expenditures in excess of $25,00010,000;
(xixiii) each written warranty, guaranty, and or other similar undertaking with respect to contractual performance extended by Stronghold the Company other than in the ordinary course Ordinary Course of businessBusiness; and
(xiixiv) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. .
(b) Except as set forth in Schedule 4(tPart 3.16(b) attached heretoof the Disclosure Letter, each Applicable Contract identified or required to be identified in Part 3.16(a) of the Disclosure Letter is in full force and effect and is valid and enforceable against the Company in accordance with its terms.
(c) Except as set forth in Part 3.16(c) of the Disclosure Letter:
(i) Stronghold the Company is, and at all times since February 5, 1997 has been, in material compliance with all applicable terms and requirements of each Applicable Contract under which such company the Company has or had any obligation or liability or by which such company the Company or any of the assets owned or used by such company the Company is or was bound; ;
(ii) to the Knowledge of the Company, each other person or entity Person that has or had any obligation or liability under any Applicable Contract under which Stronghold the Company has or had any rights is, and at all times since the Company's inception has been, in material compliance with all applicable terms and requirements of such Applicable Contract; ;
(iii) to the Knowledge of Strongholdthe Company, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold the Company or other person or entity Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and and
(iv) Stronghold the Company has not been given or received from any other person or entity Person, any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Applicable Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t.
(d) attached hereto, there There are no renegotiation renegotiations of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold the Company under current or completed Applicable Contracts with any person or entity and, to the Knowledge of Stronghold, Person and no such person or entity Person has made written demand to the Company for such renegotiation. The Contracts relating to the sale, design, or provision of products or services by Stronghold have been entered into in the ordinary course of business and have been entered into without the commission of any act alone or in concert with any other person or entity, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.
Appears in 1 contract
Samples: Agreement and Plan of Acquisition and Arrangement (Infospace Com Inc)
Contracts; No Defaults. (a) Schedule 4(t3.17(a) attached hereto contains a complete and accurate list, and Stronghold has made available and, with respect to the Purchaser written agreements, Sellers have delivered to Buyer true and complete copiescopies thereof, of:
(i) each Applicable Contract that involves performance of services or delivery of goods or materials by an Acquired Company of an amount or value in excess of $25,0002,000;
(ii) each Applicable Contract that involves performance of services or delivery of goods or materials to an Acquired Company of an amount or value in excess of $2,000;
(iii) each Applicable Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less Business and that involves expenditures or receipts of Stronghold an Acquired Company in excess of $25,0002,000;
(iiiiv) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 2,000 and with terms of less than one year);
(ivv) each licensing agreement or other Applicable Contract with respect to patents, trademarks, copyrights or other intellectual property, including agreements with current or former employees, consultants or contractors of the Company regarding the appropriation or the non-disclosure of any such intellectual property;
(vi) each collective bargaining agreement and other Applicable Contract to or with any labor union or other employee representative of a group of employees;
(vii) each joint venture, partnership, partnership and other Applicable Contract (however named) involving a sharing of profits, losses, costs, costs or liabilities by Stronghold an Acquired Company with any other person or entityPerson;
(vviii) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold or any affiliate of the foregoing an Acquired Company or limit the freedom of Stronghold or any affiliate of the foregoing an Acquired Company to engage in any line of business or to compete with any person or entityPerson;
(vi) each employment or consulting agreement of Stronghold;
(vii) each Applicable Contract providing for payments to or by any person or entity based on sales, purchases, or profits, other than direct payments for goods;
(viiiix) each power of attorney executed granted by Stronghold an Acquired Company that is currently effective and outstanding;
(ixx) each Applicable Contract entered into other than in the ordinary course Ordinary Course of business Business that contains or provides for an express undertaking by Stronghold an Acquired Company to be responsible for consequential damages;
(xxi) each Applicable Contract for capital expenditures in excess of $25,0002,000;
(xixii) each written warranty, guaranty, guaranty and or other similar undertaking with respect to contractual performance extended by Stronghold an Acquired Company other than in the ordinary course Ordinary Course of businessBusiness; and
(xiixiii) each amendment, supplement, supplement and modification (whether oral or written) in respect of any of the foregoing. .
(b) Except as set forth in Schedule 4(t) attached hereto, 3.17(b):
(i) Stronghold no Seller and no Related Person of any Seller (other than the Acquired Companies) has or may acquire any rights under, and no Seller and no Related Person of any Seller (other than the Acquired Companies) has or may become subject to any obligation or liability under, any Contract that relates to the business of, or any of the assets owned or used by, the Acquired Companies; and
(ii) to Sellers’ Knowledge, no officer, manager, agent, employee, consultant or contractor of an Acquired Company is bound by any Contract that purports to limit the ability of such officer, manager, agent, employee, consultant or contractor to (A) engage in or continue any conduct, activity or practice relating to the business of the Acquired Companies, or (B) assign to an Acquired Company or to any other Person any rights to any invention, improvement or discovery.
(c) Except as set forth in Schedule 3.17(c), each Contract identified or required to be identified in Schedule 3.17(a) is in full force and effect and is valid and enforceable against the applicable Acquired Company and, to Sellers’ Knowledge, the other party thereto, in accordance with its terms except as such enforceability may be limited by bankruptcy, insolvency, moratorium, reorganization or other similar laws affecting creditors rights generally and subject to general equitable principles.
(d) Except as set forth in Schedule 3.17(d), no Seller and no Acquired Company is or will be required to give any notice to or obtain any Consent from any Person under any of the Applicable Contracts listed or required to be listed in Schedule 3.17(a) in connection with the execution and delivery of this Agreement or the consummation or performance of any of the Proposed Transactions.
(e) Except as set forth in Schedule 3.17(e):
(i) each Acquired Company is, and at all times since January 1, 2011 has been, and to Sellers’ actual knowledge (without inquiry), at all time prior to January 1, 2011, has been in compliance in all material compliance respects with all applicable terms and requirements of each Contract required to be set forth on Schedule 3.17(a) under which such company Acquired Company has or had any obligation or liability or by which such company Acquired Company or any of the assets owned or used by such company it is or was bound; ;
(ii) to Sellers’ Knowledge, each other person or entity Person that has or had any obligation or liability under any Contract required to be set forth on Schedule 3.17(a) under which Stronghold an Acquired Company has or had any rights is, and has been, is in compliance in all material compliance respects with all applicable terms and requirements of such Contract; ;
(iii) to the Knowledge of StrongholdSellers’ Knowledge, no event has occurred or circumstance exists that (with or without notice or lapse of time) may would contravene, conflict with, or result in a material violation or breach of, or give Stronghold the applicable Acquired Company or other person or entity Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, terminate or modify, any Applicable ContractContract required to be set forth on Schedule 3.17(a); and and
(iv) Stronghold since January 1, 2011, no Acquired Company has not been given to or received from any other person or entity Person any written notice or other written communication (whether oral or written) regarding any actual, alleged, possible, possible or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties required to such contract in accordance with its terms and provisions. Except as disclosed be set forth on Schedule 4(t3.17(a), which remains outstanding and has not been cured or otherwise resolved.
(f) attached hereto, there There are no renegotiation renegotiations of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold an Acquired Company under current or completed Contracts with any person or entity and, to the Knowledge of Stronghold, Person and no such person or entity Person has made written demand for such renegotiation. The .
(g) Except as set forth on Schedule 3.17(g), the Contracts relating to the sale, design, or provision of products or services by Stronghold an Acquired Company have been entered into in the ordinary course Ordinary Course of business Business and have been entered into without the commission of any act alone or in concert with any other person or entityPerson, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.
Appears in 1 contract
Samples: Membership Interest Purchase Agreement (National Commerce Corp)
Contracts; No Defaults. (a) Schedule 4(t2.20(a) attached hereto contains a complete and accurate list, and Stronghold Seller has made available delivered to the Purchaser true and complete Buyer copies, of:
: (i) each Applicable Contract that involves performance of services or delivery of goods or materials of an amount or value in excess of $25,000;
by the Company to the Major Customers; (ii) each Applicable Contract that involves performance of services or delivery of goods or materials to the Company by the Major Suppliers; (iii) each Applicable Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less Business and that involves expenditures or receipts of Stronghold the Company in excess of $25,000;
; (iiiiv) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 and with terms of less than one year);
; (ivv) each licensing agreement or other Applicable Contract with respect to patents, trademarks, copyrights, or other intellectual property (other than licenses to use “shrink-wrap” or “off-the-shelf” software or any other software which is generally commercially available), including agreements with current or former employees, consultants, or contractors regarding the appropriation or the non-disclosure of any of the Intellectual Property Assets; (vi) each collective bargaining agreement and other Applicable Contract to or with any labor union or other employee representative of a group of employees of the Company; (vii) each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold the Company with any other person or entity;
Person; (vviii) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold the Company or any affiliate Related Person of the foregoing Company or limit the freedom of Stronghold the Company or any affiliate Related Person of the foregoing Company to engage in any line of business or to compete with any person or entity;
Person; (vi) each employment or consulting agreement of Stronghold;
(viiix) each Applicable Contract providing for payments to or by any person or entity Person based on sales, purchases, or profits, other than direct payments for goods;
; (viiix) each power of attorney executed by Stronghold that is currently effective and outstanding;
; (ixxi) each Applicable Contract entered into other than in the ordinary course Ordinary Course of business Business that contains or provides for an express undertaking by Stronghold the Company to be responsible for consequential damages;
; (xxii) each Applicable Contract for capital expenditures in excess of $25,000;
; (xixiii) each written warranty, guaranty, and or other similar undertaking with respect to contractual performance extended by Stronghold the Company other than in the ordinary course Ordinary Course of businessBusiness; and
and (xiixiv) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. .
(b) Except as set forth on Schedule 2.20(b), to Seller’s and the Company’s Knowledge, no officer, director, agent, employee, consultant, or contractor of the Company is bound by any Contract that purports to limit the ability of such officer, director, agent, employee, consultant, or contractor to (A) engage in or continue any conduct, activity, or practice relating to the Business, or (B) assign to the Company any rights to any invention, improvement, or discovery.
(c) Except as set forth on Schedule 4(t2.20(c), each Contract identified or required to be identified on Schedule 2.20(a) attached hereto, is in full force and effect and is valid and enforceable in accordance with its terms (except as such enforceability may be limited by (i) Stronghold bankruptcy, insolvency, moratorium, reorganization and other similar Legal Requirements affecting creditors’ rights generally and (ii) the general principles of equity, regardless of whether asserted in a Proceeding in equity or at law).
(d) Except as set forth on Schedule 2.20(d): (i) the Company is, and at all times since January 1, 2003 has been, in compliance in all material compliance respects with all applicable terms and requirements of each Contract under which such company has identified or had any obligation or liability or by which such company or any of the assets owned or used by such company is or was boundrequired to be identified on Schedule 2.20(a); (ii) to the Knowledge of Seller and the Company, each other person or entity Person that has or had any obligation Liability under each Contract identified or liability under any Contract under which Stronghold has or had any rights required to be identified on Schedule 2.20(a) is, and at all times since January 1, 2003 has been, in compliance in all material compliance respects with all applicable terms and requirements of such Contract; (iii) to the Knowledge of Stronghold, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold or the Company or, to the Knowledge of Seller and the Company, any other person or entity Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable ContractContract identified or required to be identified on Schedule 2.20(a); and (iv) Stronghold the Company has not been given to or received from any other person or entity Person, at any time since January 1, 2003, any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party identified or parties required to such contract in accordance with its terms and provisions. Except as disclosed be identified on Schedule 4(t) attached hereto2.20(a), there are no renegotiation of, attempts to renegotiate, or outstanding rights to renegotiate except where any material amounts paid or payable to any of Stronghold under current or completed Contracts with any person or entity and, to the Knowledge of Stronghold, no such person or entity has made written demand for such renegotiation. The Contracts relating to the sale, design, or provision of products or services by Stronghold failure would not have been entered into in the ordinary course of business and have been entered into without the commission of any act alone or in concert with any other person or entity, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirementa Material Adverse Effect.
Appears in 1 contract
Contracts; No Defaults. 37 39 (a) Schedule 4(t) attached hereto 5.16 contains a complete and accurate list, and Stronghold has the Sellers have made available to the Purchaser true and complete copies, of:
(i) each written Applicable Contract that involves performance of services or delivery of goods by any of the Subject Companies of an amount or value, individually or, for a series of related Applicable Contracts, in the aggregate, in excess of $10,000;
(ii) each Applicable Contract that involves performance of services or delivery of goods or materials to any of the Subject Companies of an amount or value value, individually or, for a series of related Applicable Contracts, in the aggregate, in excess of $25,00020,000;
(iiiii) each Applicable Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less Business and that involves expenditures or receipts of Stronghold any of the Subject Companies, individually or, for a series of related Applicable Contracts, in the aggregate, in excess of $25,00010,000, or receipts of any of the Subject Companies, individually or, for a series of related Applicable Contracts, in the aggregate, in excess of $20,000;
(iiiiv) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract of any of the Subject Companies affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 10,000 and with terms of less than one year);
(ivv) each licensing agreement or other Applicable Contract of any of the Subject Companies with respect to patents, trademarks, copyrights or other intellectual property, except agreements with current or former employees, regarding the appropriation or the non-disclosure of any of the Intellectual Property Assets;
(vi) each collective bargaining agreement and other Applicable Contract of any of the Subject Companies to or with any labor union or other employee representative of a group of employees and each other written employment or consulting agreement with any employees or consultants;
(vii) each joint venture, partnership, partnership and other Applicable Contract of any of the Subject Companies (however named) involving a sharing of profits, losses, costs, costs or liabilities by Stronghold any of the Subject Companies with any other person or entityPerson;
(vviii) each Applicable Contract of any of the Subject Companies containing covenants that in any way purport to restrict the business activity of Stronghold any of the Subject Companies or any affiliate Affiliate of any of the foregoing Subject Companies or limit the 38 40 freedom of Stronghold any of the Subject Companies or any affiliate Affiliate of any of the foregoing Subject Companies to engage in any line of business or to compete with any person or entityPerson;
(vi) each employment or consulting agreement of Stronghold;
(viiix) each Applicable Contract of any of the Subject Companies providing for payments to or by any person or entity Person based on sales, purchases, purchases or profits, other than direct payments for goods;
(viiix) each power of attorney executed by Stronghold that is currently effective and outstanding;
(ixxi) each Applicable Contract entered into other than in the ordinary course Ordinary Course of business Business that contains or provides for an express undertaking by Stronghold any of the Subject Companies to be responsible for consequential damages;
(xxii) each Applicable Contract of any of the Subject Companies for capital expenditures in excess of $25,00010,000;
(xixiii) each Applicable Contract which, to the Knowledge of the Sellers, will result in a material loss to the Subject Companies;
(xiv) each Applicable Contract between a Subject Company and its former or current stockholders, directors, officers and employees (other than standard employment agreements previously furnished to or approved by the Purchaser);
(xv) each written warranty, guaranty, and or other similar undertaking with respect to contractual performance extended by Stronghold any of the Subject Companies other than in the ordinary course Ordinary Course of businessBusiness; and
(xiixvi) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. Except as set Schedule 5.16 sets forth in Schedule 4(t) attached heretoreasonably complete details concerning such Contracts, (i) Stronghold isincluding the parties to the Contracts, and has been, in material compliance with all applicable terms and requirements the amount of each Contract under which such company has or had any obligation or liability or by which such company or the remaining commitment of any of the assets owned or used by such company is or was bound; (ii) each other person or entity that has or had any obligation or liability Subject Companies under any Contract under which Stronghold has or had any rights isthe Contracts, and has been, in material compliance with all applicable terms and requirements of such Contract; (iii) to the Knowledge of Stronghold, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold or other person or entity the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and (iv) Stronghold has not been given or received from any other person or entity any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t) attached hereto, there are no renegotiation of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold under current or completed Contracts with any person or entity and, to the Knowledge of Stronghold, no such person or entity has made written demand for such renegotiation. The Contracts place where details relating to the sale, design, or provision of products or services by Stronghold have been entered into in the ordinary course of business and have been entered into without the commission of any act alone or in concert with any other person or entity, or any consideration having been paid or promised, that is or would be in violation of any Legal RequirementContracts are located.
Appears in 1 contract
Samples: Stock Purchase Agreement (Corporate Staffing Resources Inc)
Contracts; No Defaults. Schedule 4(t(a) attached hereto Part 4.16(a) of the Disclosure Letter contains a complete and accurate list, and Stronghold has made available Principals have delivered to the Purchaser true and complete Buyer copies, of:
(i) each Applicable Contract that involves performance of services or delivery of goods or materials by one or more Acquired Companies of an amount or value in excess of $25,000100,000;
(ii) each Applicable Contract that involves performance of services or delivery of goods or materials to one or more Acquired Companies of an amount or value in excess of (a) $100,000 with respect to zinc or zinc bearing materials to be processed, and (b) $50,000 for all other services, goods or materials;
(iii) each Applicable Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less Business and that involves expenditures or receipts of Stronghold one or more Acquired Companies in excess of $25,00010,000;
(iiiiv) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 10,000 and with terms of less than one year);
(ivv) each licensing agreement or other Applicable Contract with respect to patents, trademarks, copyrights, or other intellectual property, including agreements with current or former employees, consultants, or contractors regarding the appropriation or the non-disclosure of any of the Intellectual Property Assets;
(vi) each collective bargaining agreement and other Applicable Contract to or with any labor union or other employee representative of a group of employees;
(vii) each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold any Acquired Company with any other person or entityPerson;
(vviii) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold any Acquired Company or any affiliate Affiliate of the foregoing any Acquired Company or limit the freedom of Stronghold any Acquired Company or any affiliate Affiliate of the foregoing an Acquired Company to engage in any line of business or to compete with any person or entityPerson;
(vi) each employment or consulting agreement of Stronghold;
(viiix) each Applicable Contract providing for payments to or by any person or entity Person based on sales, purchases, or profits, other than direct payments for goods;
; (viiix) each power of attorney executed by Stronghold that is currently effective and outstanding;
(ix) each Applicable Contract entered into other than in the ordinary course of business that contains or provides for an express undertaking by Stronghold to be responsible for consequential damages;
(x) each Applicable Contract for capital expenditures in excess of $25,000;
(xi) each written warranty, guaranty, and other similar undertaking with respect to contractual performance extended by Stronghold other than in the ordinary course of business; and
(xii) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. Except as set forth in Schedule 4(t) attached hereto, (i) Stronghold is, and has been, in material compliance with all applicable terms and requirements of each Contract under which such company has or had any obligation or liability or by which such company or any of the assets owned or used by such company is or was bound; (ii) each other person or entity that has or had any obligation or liability under any Contract under which Stronghold has or had any rights is, and has been, in material compliance with all applicable terms and requirements of such Contract; (iii) to the Knowledge of Stronghold, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold or other person or entity the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and (iv) Stronghold has not been given or received from any other person or entity any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t) attached hereto, there are no renegotiation of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold under current or completed Contracts with any person or entity and, to the Knowledge of Stronghold, no such person or entity has made written demand for such renegotiation. The Contracts relating to the sale, design, or provision of products or services by Stronghold have been entered into in the ordinary course of business and have been entered into without the commission of any act alone or in concert with any other person or entity, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.
Appears in 1 contract
Contracts; No Defaults. Schedule 4(t(a) attached hereto Other than the Seller Contracts set forth in Section 2.2(e) of the Seller Disclosure Letter, Section 3.17(a) of the Seller Disclosure Letter contains a an accurate and complete and accurate list, and Stronghold has Sellers have made available to the Purchaser true Buyer accurate and complete copies, of:
(i) each Applicable Seller Contract (A) that involves performance of services or delivery of goods or materials by any Seller of an amount or of value in excess of $25,000100,000; or (B) that has a remaining term of more than one (1) year and that involves performance of services or delivery of goods or materials by any Seller of an amount of value in excess of $50,000;
(ii) each Applicable Seller Contract (A) that involves performance of services or delivery of goods or materials to any Seller of an amount of value in excess of $100,000, or (B) that has a remaining term of more than one (1) year and that involves performance of services or delivery of goods or materials to any Seller of an amount of value in excess of $50,000;
(iii) each Seller Contract that was not entered into in the ordinary course of business or is not cancelable by Stronghold or a subsidiary of Stronghold the Business consistent with no penalty upon advance notice of 30 days or less past practices and that (A) involves an amount of value or expenditures or receipts of Stronghold any Seller in excess of $25,000100,000, or (B) has a remaining term of more than one (1) year, and is not subject to termination without penalty;
(iiiiv) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Seller Contract affecting the ownership of, leasing of, title to, use of, of or any leasehold or other interest in, in any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 75,000 and with terms a term of less than one year);
(ivv) each joint ventureSeller Contract with any labor union or other employee representative of a group of employees relating to wages, partnership, hours and other Applicable conditions of employment;
(vi) each Seller Contract (however named) involving a sharing of profits, losses, costs, costs or liabilities by Stronghold any Seller with any other person or entityPerson;
(vvii) each Applicable Seller Contract containing covenants that in restrict any way purport to restrict the Seller’s business activity of Stronghold or any affiliate of the foregoing or limit the freedom of Stronghold or any affiliate of the foregoing such Seller to engage in any line of business or to compete with any person or entityPerson;
(viviii) each employment or consulting agreement of Stronghold;
(vii) each Applicable Seller Contract providing for payments to or by any person or entity Person based on sales, purchases, purchases or profits, other than direct payments for goods;
(viiiix) each power of attorney executed by Stronghold of any Seller relating to the Business or the Assets that is currently effective and outstanding;
(ix) each Applicable Contract entered into other than in the ordinary course of business that contains or provides for an express undertaking by Stronghold to be responsible for consequential damages;
(x) each Applicable Seller Contract for capital expenditures in excess of $25,000100,000;
(xi) each Seller Contract not denominated in U.S. dollars;
(xii) each written warranty, guaranty, and guaranty and/or other similar undertaking with respect to contractual performance extended by Stronghold any Seller with respect to the Business other than in the ordinary course of businessthe Business consistent with past practices;
(xiii) each Bid that involves the performance of services or delivery of goods or materials by any Seller of an amount of value in excess of $100,000, or that has a remaining term of more than one (1) year and that involves performance of services or delivery of goods or materials by any Seller of an amount of value in excess of $50,000; and
(xiixiv) each amendment, supplement, supplement and modification (whether oral or written) in respect of any of the foregoing. .
(b) Except as set forth in Schedule 4(tSection 3.17(b) attached hereto, of the Seller Disclosure Letter:
(i) Stronghold iseach Seller Contract or Bid identified or required to be identified in Section 3.17(a) of the Seller Disclosure Letter or which is to be assumed by Buyer under this Agreement is in full force and effect and is valid, binding and has been, enforceable in material accordance with its terms; and
(ii) each Seller Contract or Bid identified or required to be identified in Section 3.17(a) of the Seller Disclosure Letter or which is being assumed by Buyer under this Agreement is assignable by the applicable Seller to Buyer without the Consent of any other Person except as disclosed in or pursuant to Section 3.2(c).
(c) Except as set forth in Section 3.17(c) of the Seller Disclosure Letter:
(i) each Seller is in compliance with all applicable terms and requirements of each Seller Contract under which such company has or had any obligation or liability or is being assumed by which such company or any of the assets owned or used by such company is or was bound; Buyer;
(ii) no Seller has released any of its rights under a Seller Contract which is assumed by Buyer under this Agreement;
(iii) to Sellers’ Knowledge, each other person or entity Person that has or had any obligation or liability under any Seller Contract under which Stronghold has or had any rights is, and has been, is being assumed by Buyer is in material compliance with all applicable terms and requirements of such Seller Contract; ;
(iiiiv) to the Knowledge of StrongholdSellers’ Knowledge, no event has occurred or circumstance exists that (with or without notice or lapse of time) may would reasonably be expected to contravene, conflict with, with or result in a material violation or breach of, or give Stronghold any Seller or other person or entity Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or payment under, or to cancel, terminate, terminate or modify, any Applicable Contract; and Seller Contract that is being assumed by Buyer under this Agreement;
(ivv) Stronghold to Sellers’ Knowledge, no event has not been given occurred or received from circumstance exists under or by virtue of any other person Contract that (with or entity any without notice or lapse of time) would cause the creation of any Encumbrance (other communication than a Permitted Encumbrance) affecting any of the Assets; and
(whether oral or writtenvi) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t) attached heretoSellers’ Knowledge, there is no Seller Contract listed in Section 3.17(a) of the Seller Disclosure Letter to be assumed by Buyer on which Sellers are no renegotiation of, attempts behind schedule with respect to renegotiate, the timely delivery of any products or outstanding rights to renegotiate services.
(d) Section 3.17(d) of the Seller Disclosure Letter sets forth a list of the Seller Contracts described in Section 3.17(a)(i)(A) in respect of which any material amounts paid or payable to any of Stronghold under Seller has current or completed Contracts with any person or entity future warranty obligations and, to Sellers’ Knowledge, a list of all warranty claims of customers of the Knowledge Business asserted in writing (including by facsimile or electronic mail) against Sellers in respect of Strongholdwhich the necessary repairs or replacement have not been completed.
(e) Each of the Seller Contracts or Bids entered into since August 5, no such person or entity has made written demand for such renegotiation. The Contracts relating to 2005 through the sale, design, or provision of products or services by Stronghold date hereof have been entered into or issued in the ordinary course of business and have been entered into without the commission of any act alone or in concert consistent with any other person or entity, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirementpast practice.
Appears in 1 contract
Samples: Asset Purchase Agreement (Stewart & Stevenson Services Inc)
Contracts; No Defaults. (a) Schedule 4(t2.21(a) attached hereto contains a list, and Seller has delivered to Buyer complete and accurate listcopies, and Stronghold has made available of all Assigned Contracts. Other than as set forth in Schedule 2.21(a), there exists no Contract that is used in connection with or relates to the Purchaser true and complete copiesBusiness, of:
including without limitation any Contract that (i) each Applicable Contract that involves performance of services or delivery of goods or materials by Seller, any Shareholder or any of an amount their respective Affiliates or value in excess of $25,000;
the Business; (ii) each Applicable Contract that involves performance of services or delivery of goods or materials to Seller, any Shareholder or any of their respective Affiliates or the Business; (iii) was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less Business and that involves expenditures or receipts of Stronghold in excess Seller, any Shareholder or any of $25,000;
their respective Affiliates or the Business; (iiiiv) each is a lease, rental or occupancy agreement, license, installment and conditional sale agreement, and or other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property property; (except personal property leases and installment and conditional sales v) is a licensing agreement or other Contract with respect to patents, trademarks, copyrights, or other intellectual property, including agreements having with current or former employees, consultants, or contractors regarding the appropriation or the non-disclosure of any of the Intellectual Property Assets; (vi) is a value per item collective bargaining agreement or aggregate payments other Contract to or with any labor union or other employee representative of less than $25,000 and with terms a group of less than one year);
employees; (ivvii) each is a joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold Seller, any Shareholder or any of their respective Affiliates with any other person or entity;
Person; (vviii) each Applicable Contract containing contains covenants that in any way purport to restrict the business activity of Stronghold Seller, any Shareholder or any affiliate of their respective Affiliates or the foregoing Business or limit the freedom of Stronghold Seller, any Shareholder or any affiliate of their respective Affiliates or the foregoing Business to engage in any line of business or to compete with any person or entity;
Person; (viix) each employment or consulting agreement of Stronghold;
(vii) each Applicable Contract providing provides for payments to or by any person or entity Person based on sales, purchases, or profits, other than direct payments for goods;
; (viiix) each includes a power of attorney executed by Stronghold that is currently effective and outstanding;
outstanding related to the Business; (ixxi) each Applicable Contract was entered into other than in the ordinary course Ordinary Course of business Business that contains or provides for an express undertaking by Stronghold Seller, any Shareholder or any of their respective Affiliates to be responsible for consequential damages;
; (xxii) each Applicable Contract for relates to capital expenditures in excess of $25,000;
expenditures; (xixiii) each contains a written warranty, guaranty, and or other similar undertaking with respect to contractual performance extended by Stronghold other than in the ordinary course Seller, any Shareholder or any of businesstheir respective Affiliates; and
and (xiixiv) each is an amendment, supplement, and or modification (whether oral or written) in respect of any of the foregoing. Schedule 2.21(a) sets forth reasonably complete details concerning such Assigned Contracts, including the parties to the Assigned Contracts, the amount of the remaining commitment of Seller or the Business under the Contracts, and Seller’s or the Business’ office where details relating to such Assigned Contracts are located.
(b) Except as set forth on Schedule 2.21(b): (i) Seller, no Shareholder or any of their respective Affiliates has or may acquire any rights under, and Seller, no Shareholder or any of their respective Affiliates has and will not become subject to any Liability under, any Contract that relates to the Business; and (ii) no Representative of Seller or the Business is bound by any Contract that purports to limit the ability of such Representative to (A) engage in or continue any conduct, activity, or practice relating to the Business, or (B) assign to any Person any rights to any invention, improvement, or discovery.
(c) Except as set forth on Schedule 4(t) attached hereto2.21(c), (i) Stronghold each Assigned Contract identified or required to be identified on Schedule 2.21(a) is in full force and effect and is valid and enforceable in accordance with its terms (ii) each Assigned Contract identified or required to be identified on Schedule 2.21(a) is assignable by Seller to Buyer without the consent of any other Person; and (iii) to the Knowledge of Seller and the Shareholders, no Assigned Contract identified or required to be identified on Schedule 2.21(a) will upon completion or performance thereof have a material adverse affect on the business, assets or condition of Buyer or the Business.
(d) Except as set forth on Schedule 2.21(d): (i) Seller, the Shareholders and each of their respective Affiliates, as applicable, is, and has at all times since January 1, 2000 Seller, the Shareholders and each of their respective Affiliates, as applicable, have been, in material full compliance with all applicable terms and requirements of each Assigned Contract under which such company Person has or had any obligation or liability Liability or by which such company the Business or any of the assets owned or used by such company Assets is or was bound; (ii) each other person or entity Person that has or had any obligation or liability Liability under any such Assigned Contract under which Stronghold has or had any rights is, and at all times since January 1, 2000 has been, in material full compliance with all applicable terms and requirements of such Contract; (iii) to the Knowledge of Stronghold, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold Seller or any other person or entity Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Assigned Contract; and (iv) Stronghold Seller, any Shareholder or any of their respective Affiliates has not been given to or received from any other person or entity Person, at any time since January 1, 2000, any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Assigned Contract or received notice or has any reason to believe that any Person party to an Assigned Contract will cease to procure the services of the Business, will substantially reduce the procurement of services of the Business in the future or modify the terms of the Assigned Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t.
(e) attached hereto, there There are no renegotiation renegotiations of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold Seller or to the Business under current or completed Assigned Contracts with any person or entity and, to the Knowledge of Stronghold, Person and no such person or entity Person has made written demand for such renegotiation. The Contracts relating to the sale, design, or provision of products or services by Stronghold have been entered into in the ordinary course of business and have been entered into without the commission of any act alone or in concert with any other person or entity, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.
Appears in 1 contract
Contracts; No Defaults. (a) Part 3.17(a) of the Disclosure Schedule 4(t) attached hereto contains a complete and accurate list, and Stronghold has made available Seller and Xxxx have delivered to the Purchaser Buyer true and complete copies, of:
(i) each Applicable Contract that involves performance of services or delivery of goods or materials by Xxxx of an amount or value in excess of $25,000US Dollars 50,000 (USD fifty thousand);
(ii) each Applicable Contract that involves performance of services or delivery of goods or materials to Xxxx of an amount or value in excess of US Dollars 50,000 (USD fifty thousand);
(iii) each Applicable Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less Business and that involves expenditures or receipts of Stronghold Xxxx in excess of $25,000US Dollars 50,000 (USD fifty thousand);
(iiiiv) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 US Dollars 10,000 (USD ten thousand) and with terms of less than one year);
(ivv) each licensing agreement or other Applicable Contract with respect to patents, trademarks, copyrights, or other intellectual property, including agreements with current or former employees, consultants, or contractors regarding the appropriation or the non-disclosure of any of the Intellectual Property Assets;
(vi) each collective bargaining agreement and other Applicable Contract to or with any labor union or other employee representative of a group of employees;
(vii) each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold Xxxx with any other person or entityPerson;
(vviii) each Applicable Contract containing covenants contract and agreement that in any way purport limits or purports to restrict the business activity of Stronghold or any affiliate of the foregoing or limit the freedom ability of Stronghold or any affiliate of the foregoing Xxxx to engage compete in any line of business or to compete with any person Person or entityin any geographic area or during any period of time;
(vi) each employment or consulting agreement of Stronghold;
(viiix) each Applicable Contract providing for payments to or by any person or entity Person based on sales, purchases, or profits, other than direct payments for goods;
(viiix) each Contract between Xxxx and each of Seller and its Affiliates;
(xi) each Contract providing for a negative profit margin;
(xii) each Contract which provides for a “purchase on approval” or any other option for the purchaser to consummate the purchase of a Xxxx product after a period of one month or longer following receipt of such product;
(xiii) each power of attorney executed by Stronghold that is currently effective and outstanding;
(ixxiv) each Applicable Contract entered into other than in the ordinary course Ordinary Course of business Business that contains or provides for an express undertaking by Stronghold Xxxx to be responsible for consequential damages;
(xxv) each Applicable Contract for capital expenditures in excess of $25,000US Dollars 50,000 (USD fifty thousand);
(xixvi) each written warranty, guaranty, and or other similar undertaking with respect to contractual performance extended by Stronghold Xxxx other than in the ordinary course Ordinary Course of Business;
(xvii) each Applicable Contract providing for a commitment of employment for a specified or unspecified term or otherwise relating to employment or the termination of employment;
(xviii) each Applicable Contract relating to the future disposition or acquisition of any assets and properties individually or in the aggregate in excess of US Dollars 50,000 (USD fifty thousand);
(xix) each Applicable Contract relating to collective bargaining or similar labor Applicable Contract;
(xx) each other Applicable Contract that is material to Xxxx or the non-performance of which would be reasonably likely to have a material adverse change in the business; , operations, properties, prospects, assets or condition of Xxxx;
(xxi) each other Applicable Contract with a term of greater than one year and
(xiixxii) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. Part 3.17(a) of the Disclosure Schedule sets forth reasonably complete details concerning such Contracts that are not written, if any, including the parties to such Contracts, the amount of the remaining commitment of Xxxx under such Contracts, and the other material terms respecting such Contracts.
(b) Except as set forth in Schedule 4(tPart 3.17(b) attached hereto, of the Disclosure Schedule:
(i) Stronghold Seller does not have any rights or obligations or liabilities under, any Contract that relates to the business of, or any of the assets owned or used by, Xxxx; and
(ii) to the Knowledge of Seller and Xxxx, no officer, director, agent, employee, consultant, or contractor of Xxxx is bound by any Contract that purports to limit the ability of such officer, director, agent, employee, consultant, or contractor to (A) engage in or continue any conduct, activity, or practice relating to the Business, or (B) assign to Xxxx or to any other Person any rights to any invention, improvement, or discovery.
(c) Except as set forth in Part 3.17(c) of the Disclosure Schedule, each Contract identified or required to be identified in Part 3.17(a) of the Disclosure Schedule is in full force and effect and is valid and enforceable in accordance with its terms.
(d) Except as set forth in Part 3.17(d) of the Disclosure Schedule:
(i) Xxxx is, and at all times since inception of such Applicable Contract, has been, been in material compliance with all applicable terms and requirements of each Contract under which such company has or had any obligation or liability or by which such company or any of the assets owned or used by such company is or was bound; Applicable Contract;
(ii) each other person or entity Person that has or had any obligation or liability under any Applicable Contract under which Stronghold has or had any rights is, to the Knowledge of Seller and has beenXxxx, in material compliance with all applicable terms and requirements of such Applicable Contract; ;
(iii) to the Knowledge of Stronghold, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict withwith in any material respect, or result in a material violation or breach of, or give Stronghold Xxxx or other person or entity Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and and
(iv) Stronghold Xxxx has not been given to or received from any other person or entity Person, any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Applicable Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t.
(e) attached hereto, there There are no renegotiation renegotiations of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold Xxxx under current or completed Contracts with any person or entity Person and, to the Knowledge of StrongholdSeller and Xxxx, no such person or entity Person has made written demand for such renegotiation. .
(f) The Contracts relating to the sale, design, manufacture, or provision of products or services by Stronghold Xxxx have been entered into in the ordinary course Ordinary Course of business Business and have been entered into without the commission of any act alone or in concert with any other person or entityPerson, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.
Appears in 1 contract
Samples: Stock Purchase Agreement (Cardiotech International Inc)
Contracts; No Defaults. Schedule 4(t(a) attached hereto Part 3.17(a) of the Disclosure Letter contains a complete and accurate list, and Stronghold the Company has made available delivered to the Purchaser Buyer true and complete copies, of:
(i) each Applicable Contract that involves performance of services or delivery of goods or materials by one or more Acquired Companies of an amount or value in excess of $25,00050,000;
(ii) each Applicable Contract that involves performance of services or delivery of goods or materials to one or more Acquired Companies of an amount or value in excess of $50,000;
(iii) each Applicable Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less Business and that involves expenditures or receipts of Stronghold one or more Acquired Companies in excess of $25,00050,000;
(iiiiv) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 and with terms of less than one year);
(ivv) each licensing agreement or other Applicable Contract with respect to patents, trademarks, copyrights, or other intellectual property, including agreements with current or former employees, consultants, or contractors regarding the appropriation or the non-disclosure of any of the Intellectual Property Assets;
(vi) each collective bargaining agreement and other Applicable Contract to or with any labor union or other employee representative of a group of employees;
(vii) each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold any Acquired Company with any other person or entityPerson;
(vviii) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold any Acquired Company or any affiliate Affiliate of the foregoing an Acquired Company or limit the freedom of Stronghold any Acquired Company or any affiliate Affiliate of the foregoing an Acquired Company to engage in any line of business or to compete with any person or entityPerson;
(vi) each employment or consulting agreement of Stronghold;
(viiix) each Applicable Contract providing for payments to or by any person or entity Person based on sales, purchases, or profits, other than direct payments for goods;
(viiix) each power of attorney executed by Stronghold that is currently effective and outstanding;
(ixxi) each Applicable Contract entered into other than in the ordinary course Ordinary Course of business Business that contains or provides for an express undertaking by Stronghold any Acquired Company to be responsible for consequential damages;
(xxii) each Applicable Contract for capital expenditures in excess of $25,00050,000;
(xixiii) each written warranty, guaranty, and or other similar undertaking with respect to contractual performance extended by Stronghold any Acquired Company other than in the ordinary course Ordinary Course of businessBusiness; and
(xiixiv) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. .
(b) Except as set forth in Schedule 4(tPart 3.17(b) attached heretoof the Disclosure Letter, neither Seller (iand no Related Person of either Seller) Stronghold ishas or may acquire any rights under, and has been, in material compliance with all applicable terms and requirements of each Contract under which such company neither Seller has or had may become subject to any obligation or liability or by which such company under, any Contract that relates to the business of, or any of the assets owned or used by such company is or was bound; (ii) each other person or entity that has or had any obligation or liability under any Contract under which Stronghold has or had any rights is, and has been, in material compliance with all applicable terms and requirements of such Contract; (iii) to the Knowledge of Stronghold, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold or other person or entity the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modifyby, any Applicable Contract; and Acquired Company.
(ivc) Stronghold has not been given Except as set forth in Part 3.17(c) of the Disclosure Letter, each Contract identified or received from any other person or entity any notice or other communication (whether oral or writtenrequired to be identified in Part 3.17(a) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract of the Disclosure Letter is valid, in full force, force and binding on effect and is valid and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t) attached hereto, there are no renegotiation of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold under current or completed Contracts with any person or entity Acquired Companies and, to the Knowledge of StrongholdSeller and the Acquired Companies, no such person or entity has made written demand for such renegotiation. The Contracts relating to each other party thereto, in accordance with its terms.
(d) Except as set forth in Part 3.17(d) of the sale, design, or provision of products or services by Stronghold have been entered into in the ordinary course of business and have been entered into without the commission of any act alone or in concert with any other person or entity, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.Disclosure Letter:
Appears in 1 contract
Contracts; No Defaults. Schedule 4(t(a) attached hereto Part 4.12(a) of the Wxxxxxxxxx Disclosure Letter contains a complete and accurate list, and Stronghold Wxxxxxxxxx has made available delivered to the Purchaser Concierge true and complete copies, of:of the following Contracts to which any of the Acquired Companies is a party or by which the assets of any of the Acquired Companies are bound (other than Fund Material Contracts, which are addressed in Section 4.9) (collectively, the “Material Contracts”):
(i) each Applicable Contract that involves performance of services by one or delivery of goods or materials more Acquired Companies of an amount or value in excess of $25,000250,000;
(ii) each Applicable Contract that involves performance of services for to one or more Acquired Companies of an amount or value in excess of $250,000;
(iii) each Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less Business and that involves expenditures or receipts of Stronghold one or more Acquired Companies in excess of $25,000250,000;
(iiiiv) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 250,000 and with terms of less than one year);
(ivv) each licensing agreement or other Contract, in each case to the extent material to the Acquired Companies, taken as a whole, with respect to Intellectual Property;
(vi) each collective bargaining agreement and other Contract to or with any labor union or other employee representative of a group of employees;
(vii) each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold any of the Acquired Companies with any other person or entityPerson;
(vviii) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold or any affiliate of the foregoing Acquired Companies or limit the freedom of Stronghold or any affiliate of the foregoing Acquired Companies to engage in any line of business or to compete with any person or entity;
(vi) each employment or consulting agreement of Stronghold;
(vii) each Applicable Contract providing for payments to or by any person or entity based on sales, purchases, or profits, other than direct payments for goods;
(viii) each power of attorney executed by Stronghold that is currently effective and outstandingPerson;
(ix) each Applicable Contract entered into other than in the ordinary course of business that contains or provides for an express undertaking by Stronghold to be responsible for consequential damages;
(x) each Applicable Contract for capital expenditures in excess of $25,000250,000;
(x) each Contract that provides for the indemnification by any of the Acquired Companies of any Person or the assumption of any Tax, environmental or other liability of any Person;
(xi) each written warranty, guaranty, and other similar undertaking Contract with respect any Governmental Body to contractual performance extended by Stronghold other than which any of the Acquired Companies is a party;
(xii) each Contract that limits or purports to limit the ability of any of the Acquired Companies to compete in the ordinary course any line of businessbusiness or with any Person or in any geographic area or during any period of time; and
(xiixiii) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. .
(b) Except as set forth in Schedule 4(tPart 4.12(b) attached heretoof the Wxxxxxxxxx Disclosure Letter, no Seller or Related Person of any Seller) has or may acquire any rights under, and no Seller has or may become subject to any obligation or liability under, any Material Contract.
(c) Except as set forth in Part 4.12(c) of the Wxxxxxxxxx Disclosure Letter, each Material Contract is in full force and effect and is valid and enforceable in accordance with its terms, except as may be limited by the Bankruptcy and Equity Exception. None of the Acquired Companies is in breach of or default under, or has provided or received any notice of any intention to terminate any Material Contract.
(d) Except as set forth in Part 4.12(d) of the Wxxxxxxxxx Disclosure Letter:
(i) Stronghold each of the Acquired Companies is, and at all times since January 1, 2015 has been, in compliance in all material compliance respects with all applicable terms and requirements of each Contract under which such company has or had any obligation or liability or by which such company or any of the assets owned or used by such company is or was bound; Material Contract;
(ii) to Wxxxxxxxxx’x Knowledge, each other person or entity Person that has or had is a party to any obligation or liability under any Material Contract under which Stronghold has or had any rights is, and at all times since January 1, 2015 has been, in compliance in all material compliance respects with all applicable terms and requirements of such Material Contract; and
(iii) to the Knowledge of StrongholdWxxxxxxxxx’x Knowledge, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold any of the Acquired Companies or other person or entity Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Material Contract; and (iv) Stronghold has not been given or received from any other person or entity any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t) attached hereto, there are no renegotiation of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold under current or completed Contracts with any person or entity and, to the Knowledge of Stronghold, no such person or entity has made written demand for such renegotiation. The Contracts relating to the sale, design, or provision of products or services by Stronghold have been entered into in the ordinary course of business and have been entered into without the commission of any act alone or in concert with any other person or entity, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.
Appears in 1 contract
Samples: Stock Purchase Agreement (Concierge Technologies Inc)
Contracts; No Defaults. (a) Schedule 4(t) attached hereto 5.14 contains a complete and accurate list, and Stronghold Seller has made available delivered to the Purchaser Buyer true and complete copies, of:
(i) each Applicable Contract licensing agreement or other contract with respect to software (collectively, the “Software Licenses”);
(ii) each contract with respect to the providing of consulting services by Seller or any of its employees or agents, excluding those related exclusively to the New Business (collectively, the “Consulting Contracts”);
(iii) each contract that involves performance of services or delivery of goods or materials to Seller of an amount or value in excess of $25,00010,000, excluding those related exclusively to the New Business;
(iiiv) each Applicable Contract contract (other than the Software Licenses and the Consulting Contracts) that was not entered into in the ordinary course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less the Business and that involves expenditures or receipts of Stronghold Seller in excess of $25,00010,000;
(iiiv) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract contracts affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 10,000 and with terms of less than one year), excluding those related exclusively to the New Business;
(ivvi) each licensing agreement or other contract (other than the Software Licenses) with respect to patents, trademarks, copyrights, or other intellectual property, including agreements with current or former employees, consultants, or contractors regarding the appropriation or the non-disclosure of any of the Intellectual Property;
(vii) each collective bargaining agreement and other contract to or with any labor union or other employee representative of a group of employees, excluding those related exclusively to the New Business;
(viii) each joint venture, partnership, and other Applicable Contract contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold Seller with any other person or entityperson, excluding those related exclusively to the New Business;
(vix) each Applicable Contract contract containing covenants that in any way purport to restrict the business activity Business of Stronghold Seller or any affiliate of the foregoing its affiliates or limit the freedom of Stronghold Seller or any affiliate of the foregoing its affiliates to engage in any line of business the Business or to compete with any person or entityperson;
(vix) each employment or consulting agreement of Stronghold;
(vii) each Applicable Contract contract providing for payments to or by any person or entity based on sales, purchases, or profits, other than direct payments for goods, excluding those related exclusively to the New Business;
(viiixi) each power of attorney executed by Stronghold that is currently effective and outstanding;
(ix) each Applicable Contract contract entered into other than in the ordinary course of business the Business that contains or provides for an express undertaking by Stronghold Seller to be responsible for consequential damages;
(xxii) each Applicable Contract contract for capital expenditures in excess of $25,00010,000, excluding those related exclusively to the New Business;
(xixiii) each written warranty, guaranty, and or other similar undertaking with respect to contractual performance extended by Stronghold Seller other than in the ordinary course of businessthe Business; and
(xiixiv) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. Except as set Schedule 5.14 sets forth in Schedule 4(t) attached heretoreasonably complete details concerning such contracts, including the parties to the contracts, the amount of the remaining commitment of Seller under the contracts, and Seller’s office where details relating to the contracts are located.
(i) Stronghold No stockholder of Seller (and no affiliate of any stockholder of Seller) has or may acquire any rights under, and no stockholder of Seller has or may become subject to any obligation or liability under, any contract that relates to the business of, or any of the Purchased Assets owned or used by, Seller; and (ii) to the knowledge of the Seller, no officer, agent, employee, consultant, or contractor of Seller is bound by any contract that purports to limit the ability of such officer, agent, employee, consultant, or contractor to (A) engage in or continue any conduct, activity, or practice relating to the Business, or (B) assign to Seller or to any other person any rights to any invention, improvement, or discovery.
(c) Each contract identified or required to be identified in Schedule 5.14 is in full force and effect and, to the knowledge of Seller, is valid and enforceable in accordance with its terms.
(d) (i) Seller is, and at all times since January 31, 2008, has been, in material full compliance with all applicable terms and requirements of each Contract contract under which such company it has or had any obligation or liability or by which such company it or any of the assets owned or used by such company it is or was bound, except where the failure to so comply would not reasonably be expected to have a Material Adverse Effect on the Business or the Purchased Assets; (ii) to the knowledge of Seller, each other person or entity that has or had any obligation or liability under any Contract contract under which Stronghold it has or had any rights is, and at all times since January 31, 2008, has been, in material full compliance with all applicable terms and requirements of such Contractcontract, except where the failure to so comply would not reasonably be expected to have a Material Adverse Effect on the Business or the Purchased Assets; (iii) to the Knowledge knowledge of StrongholdSeller, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold Seller or other person or entity the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contractcontract; and (iv) Stronghold Seller has not been given to or received from any other person or entity person, at any time since January 31, 2008, any written notice or other written communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(tcontract.
(e) attached hereto, there There are no renegotiation renegotiations of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold Seller under current or completed Contracts contracts with any person or entity and, to the Knowledge knowledge of Strongholdthe Seller, no such person or entity has made written demand for such renegotiation. .
(f) The Contracts contracts relating to the sale, design, manufacture, or provision of products or services by Stronghold Seller have been entered into in the ordinary course of business and the Business and, to the knowledge of the Seller, have been entered into without the commission of any act alone or in concert with any other person or entityperson, or any consideration having been paid or promised, that is or would be in violation of any Legal RequirementFederal or state law.
Appears in 1 contract
Contracts; No Defaults. (a) Section 3.17(a) of the Disclosure Schedule 4(t) attached hereto contains a complete and accurate list, and Stronghold has made available the Principal Shareholders have delivered to the Purchaser Buyer true and complete copies, of:
(i) each Applicable Contract that involves performance of services or delivery of goods or materials by one or more Acquired Companies of an amount or value in excess of $25,000;
(ii) each Applicable Contract that was not entered into in the ordinary course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less and that involves expenditures or receipts of Stronghold one or more Acquired Companies in excess of $25,000;
(iii) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 10,000 and with terms of less than one year);
(iv) each licensing agreement or other Applicable Contract with respect to patents, trademarks, service marks, copyrights, or other intellectual property, including agreements with current or former employees, consultants, or contractors regarding the appropriation or the non-disclosure of any of the Acquired Companies' Proprietary Rights;
(v) each collective bargaining agreement and other Applicable Contract to or with any labor union or other employee representative of a group of employees;
(vi) each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold any Acquired Company with any other person or entityPerson;
(vvii) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold any Acquired Company or any affiliate Affiliate of the foregoing an Acquired Company or limit the freedom of Stronghold any Acquired Company or any affiliate Affiliate of the foregoing an Acquired Company to engage in any line of business or to compete with any person or entityPerson;
(vi) each employment or consulting agreement of Stronghold;
(viiviii) each Applicable Contract providing for payments to or by any person or entity Person based on sales, purchases, or profits, other than direct payments for goods;
(viiiix) each power of attorney executed by Stronghold that is currently effective and outstanding;
(ixx) each Applicable Contract entered into other than in the ordinary course of business that contains or provides for an express undertaking by Stronghold any Acquired Company to be responsible for consequential damages;
(xxi) each Applicable Contract for capital expenditures in excess of $25,000;
(xixii) each written warranty, guaranty, and or other similar undertaking with respect to contractual performance extended by Stronghold any Acquired Company other than in the ordinary course of business; and
(xiixiii) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. .
(b) Except as set forth in Schedule 4(tSection 3.17(b) attached hereto, (i) Stronghold is, and has been, in material compliance with all applicable terms and requirements of each Contract under which such company has or had any obligation or liability or by which such company or any of the assets owned or used by such company is or was bound; (ii) each other person or entity that has or had any obligation or liability under any Contract under which Stronghold has or had any rights isDisclosure Schedule, and has been, in material compliance with all applicable terms and requirements of such Contract; (iii) to the Knowledge of Strongholdthe Principal Shareholders and the Acquired Companies, no officer, director, agent, employee, consultant, or contractor of any Acquired Company is bound by any Contract that purports to limit the ability of such officer, director, agent, employee, consultant, or contractor to: (i) engage in or continue any conduct, activity, or practice relating to the business of any Acquired Company; or (ii) assign to any Acquired Company or to any other Person any rights to any invention, improvement, or discovery.
(c) Except as set forth in Section 3.17(c) of the Disclosure Schedule, each Contract identified or required to be identified in Section 3.17(a) of the Disclosure Schedule is in full force and effect and is valid and enforceable in accordance with its terms.
(d) To the Knowledge of the Principal Shareholders and the Acquired Companies, except as set forth in Section 3.17(d) of the Disclosure Schedule, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold any Acquired Company or other person or entity Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, modify any Applicable Contract; and contract identified in Section 3.17(a) of the Disclosure Schedule.
(ive) Stronghold has not been given or received from any other person or entity any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on set forth in Section 3.17(a) of the Disclosure Schedule, none of the Acquired Companies is party to an agency agreement, has terminated an agency agreement giving rise to an outstanding liability or is obliged to enter into any such agreement. None of the distribution agreements which are set forth in Section 3.17(a) of the Disclosure Schedule 4(t) attached hereto, there are no renegotiation of, attempts likely to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold under current or completed Contracts with any person or entity and, to the Knowledge of Stronghold, no such person or entity has made written demand for such renegotiation. The Contracts relating to the sale, design, or provision of products or services be requalified into an agency agreement as defined by Stronghold have been entered into in the ordinary course of business and have been entered into without the commission of any act alone or in concert with any other person or entity, or any consideration having been paid or promised, that is or would be in violation of any EU Legal RequirementRequirements.
Appears in 1 contract
Samples: Stock Purchase Agreement (Measurement Specialties Inc)
Contracts; No Defaults. 3.15.1. Part 3.15(1) of the Disclosure Schedule 4(t) attached hereto contains a complete and accurate list, and Stronghold has made available Page and the Stockholders have delivered to the Purchaser IPI true and complete copies, of:
(ia) each Applicable Contract that involves performance of services or delivery of goods or materials by Page of an aggregate amount or value in excess of $25,0001,000;
(iib) each Applicable Contract that involves performance of services or delivery of goods or materials to Page of an aggregate amount or value in excess of $1,000;
(c) each Applicable Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less Business and that involves expenditures or receipts of Stronghold Page in excess of $25,0001,000;
(iiid) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 1,000 and with terms of less than one year);
(ive) each licensing agreement or other Applicable Contract with respect to patents, trademarks, copyrights, or other intellectual property, including agreements with current or former employees, consultants, or contractors regarding the appropriation or the nondisclosure of any of the Intellectual Property Assets;
(f) each collective bargaining agreement and other Applicable Contract to or with any labor union or other employee representative of a group of employees;
(g) each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold Page with any other person or entityPerson;
(vh) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold or any affiliate of the foregoing Page or limit the freedom of Stronghold or any affiliate of the foregoing Page to engage in any line of business or to compete with any person or entityPerson;
(vi) each employment or consulting agreement of Stronghold;
(viii) each Applicable Contract providing for payments to or by any person or entity Person based on sales, purchases, or profits, other than direct payments for goods;
(viiij) each power of attorney executed by Stronghold that is currently effective and outstanding;
(ixk) each Applicable Contract entered into other than in the ordinary course Ordinary Course of business Business that contains or provides for an express undertaking by Stronghold Page to be responsible for consequential damages;
(xl) each Applicable Contract for capital expenditures in excess of $25,0001,000;
(xim) each written warranty, guaranty, and and/or other similar undertaking with respect to contractual performance extended by Stronghold Page other than in the ordinary course Ordinary Course of businessBusiness; and
(xiin) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. Part 3.15 of the Disclosure Schedule sets forth reasonably complete details concerning such Contracts, including the parties to the Contracts, the amount of the remaining commitment of Page under the Contracts, and the location in Page's office where details relating to the Contracts are located.
3.15.2. Except as set forth in Schedule 4(tPart 3.15.2 of the Disclosure Schedule:
(a) attached hereto, no stockholder of Page (inor any Related Person of any stockholder) Stronghold ishas or may acquire any rights under, and no stockholder of Page has beenor may become subject to any obligation or liability under, any Contract that relates to the business of, or any of the assets owned or used by, Page; and
(b) no officer, director, agent, employee, consultant, or contractor of Page is bound by any Contract that purports to limit the ability of such officer, director, agent, employee, consultant, or contractor to (A) engage in material or continue any conduct, activity, or practice relating to the business of Page, or (B) assign to Page or to any other Person any rights to any invention, improvement, or discovery.
3.15.3. Except as set forth in Part 3.15.3 of the Disclosure Schedule, each Contract identified or required to be identified in Part 3.15.1 of the Disclosure Schedule is in full force and effect and is valid and enforceable in accordance with its terms.
3.15.4. Except as set forth in Part 3.15.4 of the Disclosure Schedule:
(a) Page is in full compliance with all applicable terms and requirements of each material Contract under which such company Page has or had any obligation or liability or by which such company Page or any of the assets owned or used by such company Page is or was bound; ;
(iib) to the knowledge of Page and the Stockholders, each other person or entity Person that has or had any obligation or liability under any material Contract under which Stronghold Page has or had any rights is, and has been, is in material full compliance with all applicable terms and requirements of such Contract; ;
(iiic) to the Knowledge of Stronghold, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold Page or other person or entity Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any material Applicable Contract; and and
(ivd) Stronghold Page has not been neither given or received to, nor received, from any other person or entity Person at any time any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract.
3.15.5. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t) attached hereto, there There are no renegotiation renegotiations of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold Page under current or completed Contracts with any person or entity and, to the Knowledge of Stronghold, Person and no such person or entity Person has made written demand for such renegotiation.
3.15.6. The Contracts relating to the sale, design, manufacture, or provision of products or services by Stronghold Page have been entered into in the ordinary course Ordinary Course of business Business and have been entered into without the commission of any act alone or in concert with any other person or entityPerson, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.
Appears in 1 contract
Contracts; No Defaults. Schedule 4(t(a) attached hereto Part 3.17(a) of the Disclosure Letter contains a complete and accurate list, and Stronghold has made available Seller have delivered to the Purchaser Buyer true and complete copies, of:
(i) each Applicable Contract that involves performance of services or delivery of goods or materials by one or more Acquired Companies of an amount or value in excess of $25,00010,000;
(ii) each Applicable Contract that involves performance of services or delivery of goods or materials to one or more Acquired Companies of an amount or value in excess of $10,000;
(iii) each Applicable Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less Business and that involves expenditures or receipts of Stronghold one or more Acquired Companies in excess of $25,00010,000;
(iiiiv) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 5,000 and with terms of less than one year);
(ivv) each licensing agreement or other Applicable Contract with respect to patents, trademarks, copyrights, or other intellectual property, including agreements with current or former employees, consultants, or contractors regarding the appropriation or the non-disclosure of any of the Intellectual Property Assets;
(vi) each collective bargaining agreement and other Applicable Contract to or with any labor union or other employee representative of a group of employees;
(vii) each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold any Acquired Company with any other person or entityPerson;
(vviii) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold any Acquired Company or any affiliate Affiliate of the foregoing an Acquired Company or limit the freedom of Stronghold any Acquired Company or any affiliate Affiliate of the foregoing an Acquired Company to engage in any line of business or to compete with any person or entityPerson;
(vi) each employment or consulting agreement of Stronghold;
(viiix) each Applicable Contract providing for payments to or by any person or entity Person based on sales, purchases, or profits, other than direct payments for goods;
(viiix) each power of attorney executed by Stronghold that is currently effective and outstanding;
(ixxi) each Applicable Contract entered into other than in the ordinary course Ordinary Course of business Business that contains or provides for an express undertaking by Stronghold any Acquired Company to be responsible for consequential damages;
(xxii) each Applicable Contract for capital expenditures in excess of $25,00010,000;
(xixiii) each written warranty, guaranty, and or other similar undertaking with respect to contractual performance extended by Stronghold any Acquired Company other than in the ordinary course Ordinary Course of businessBusiness; and
(xiixiv) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. Except as set Part 3.17(a) of the Disclosure Letter sets forth in Schedule 4(t) attached heretoreasonably complete details concerning such Contracts, (i) Stronghold isincluding the parties to the Contracts, the amount of the remaining commitment of the Acquired Companies under the Contracts, and has been, in material compliance with all applicable terms and requirements of each Contract under which such company has or had any obligation or liability or by which such company or any of the assets owned or used by such company is or was bound; (ii) each other person or entity that has or had any obligation or liability under any Contract under which Stronghold has or had any rights is, and has been, in material compliance with all applicable terms and requirements of such Contract; (iii) to the Knowledge of Stronghold, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold or other person or entity the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and (iv) Stronghold has not been given or received from any other person or entity any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t) attached hereto, there are no renegotiation of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold under current or completed Contracts with any person or entity and, to the Knowledge of Stronghold, no such person or entity has made written demand for such renegotiation. The Contracts Acquired Companies' office where details relating to the sale, design, or provision of products or services by Stronghold have been entered into in the ordinary course of business and have been entered into without the commission of any act alone or in concert with any other person or entity, or any consideration having been paid or promised, that is or would be in violation of any Legal RequirementContracts are located.
Appears in 1 contract
Samples: Stock Exchange Agreement (American Resources & Development Co)
Contracts; No Defaults. Schedule 4(t(a) attached hereto Part 3.17(a) of the Disclosure Letter contains a complete and accurate list, and Stronghold has made available Sellers have delivered to the Purchaser Buyer true and complete copies, of:
(i) each Applicable Contract that involves performance of services or delivery of goods or materials by the Company of an amount or value in excess of $25,00015,000;
(ii) each Applicable Contract that involves performance of services or delivery of goods or materials to the Company of an amount or value in excess of $15,000;
(iii) each Applicable Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less Business and that involves expenditures or receipts of Stronghold the Company in excess of $25,00015,000;
(iiiiv) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 15,000 and with terms of less than one year);
(ivv) each licensing agreement or other Applicable Contract with respect to patents, trademarks, copyrights, or other intellectual property, including agreements with current or former employees, consultants, or contractors
(vi) each collective bargaining agreement and other Applicable Contract to or with any labor union or other employee representative of a group of employees;
(vii) each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold the Company with any other person or entityPerson;
(vviii) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold the Company or any affiliate Affiliate of the foregoing Company or limit the freedom of Stronghold the Company or any affiliate Affiliate of the foregoing Company to engage in any line of business or to compete with any person or entityPerson;
(vi) each employment or consulting agreement of Stronghold;
(viiix) each Applicable Contract providing for payments to or by any person or entity Person based on sales, purchases, or profits, other than direct payments for goodsgoods and sales commission arrangements for employees;
(viiix) each power of attorney executed granted by Stronghold the Company that is currently effective and outstanding;
(ixxi) each Applicable Contract entered into other than in the ordinary course Ordinary Course of business Business that contains or provides for an express undertaking by Stronghold the Company to be responsible for consequential damages;
(xxii) each Applicable Contract for future capital expenditures in excess of $25,00015,000;
(xixiii) each currently effective written warranty, guaranty, indemnity, and or other similar undertaking with respect to contractual performance extended by Stronghold the Company other than in the ordinary course Ordinary Course of businessBusiness;
(xiv) each Contract for indebtedness of the Company involving future aggregate payments of more than $15,000; and
(xiixv) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. .
(b) Except as set forth in Schedule 4(tPart 3.17(b) attached hereto, of the Disclosure Letter:
23 (i) Stronghold isSellers (and no Related Person of the Sellers) do not have or may acquire any rights under, and has beenSellers do not have or may become subject to, in material compliance with all applicable terms and requirements of each Contract under which such company has or had any obligation or liability or by which such company under, any Contract that relates to the business of, or any of the assets owned or used by such company is or was boundby, the Company; (ii) each other person or entity that has or had any obligation or liability under any Contract under which Stronghold has or had any rights is, and has been, in material compliance with all applicable terms and requirements of such Contract; (iii) to the Knowledge of Stronghold, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold or other person or entity the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and (iv) Stronghold has not been given or received from any other person or entity any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t) attached hereto, there are no renegotiation of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold under current or completed Contracts with any person or entity and, to the Knowledge of Stronghold, no such person or entity has made written demand for such renegotiation. The Contracts relating to the sale, design, or provision of products or services by Stronghold have been entered into in the ordinary course of business and have been entered into without the commission of any act alone or in concert with any other person or entity, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.
Appears in 1 contract
Contracts; No Defaults. (a) Schedule 4(t3.17(a) attached hereto contains a complete and accurate list, and Stronghold has made available Sellers have delivered to the Purchaser Buyer true and complete copies, of:
(i) each Applicable Contract that involves performance of services or delivery of goods or materials by the Acquired Company taken together or to the Acquired Company taken together of an amount or value in excess of Five Thousand Dollars ($25,0005,000.00);
(ii) each Applicable Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less Business and that involves expenditures or receipts of Stronghold the Acquired Company taken together in excess of Five Thousand Dollars ($25,0005,000.00);
(iii) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than Five Thousand Dollars ($25,000 5,000.00) and with terms of less than one year);
(iv) each licensing agreement or other Applicable Contract with respect to patents, trademarks, copyrights, or other intellectual property, including agreements with current or former employees, consultants, or contractors regarding the appropriation or the non-disclosure any of the Intellectual Property Assets;
(v) each collective bargaining agreement and other Applicable Contract to or with any labor union or other employee representative of a group of employees relating to wages, hours, and other conditions of employment;
(vi) each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold the Acquired Company with any other person or entityPerson;
(vvii) each Applicable Contract containing covenants that in any way purport to restrict the Acquired Company's business activity of Stronghold or any affiliate of the foregoing or limit the freedom of Stronghold or any affiliate of the foregoing Acquired Company to engage in any line of business or to compete with any person or entityPerson;
(vi) each employment or consulting agreement of Stronghold;
(viiviii) each Applicable Contract providing for payments to or by any person or entity Person based on sales, purchases, or profits, other than direct payments for goods;
(viiiix) each power of attorney executed by Stronghold that is currently effective and outstanding;
(ixx) each Applicable Contract entered into other than in the ordinary course Ordinary Course of business Business that contains or provides for an express undertaking by Stronghold the Acquired Company to be responsible for consequential damages;
(xxi) each Applicable Contract for capital expenditures in excess of Five Thousand Dollars ($25,0005,000.00);
(xixii) each written warranty, guaranty, and or other similar undertaking with respect to contractual performance extended by Stronghold the Acquired Company other than in the ordinary course Ordinary Course of businessBusiness; and
(xiixiii) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. .
(a) sets forth reasonably complete details concerning such Contracts, including the parties to the Contracts, the amount of the remaining commitment of the Acquired Company under the Contracts, and the Acquired Company's offices where details relating to the Contracts are located.
(b) Except as set forth in Schedule 4(t3.17(b) attached hereto, or as is set forth in the Contemplated Transactions:
(i) Stronghold no Seller nor any Related Person of Seller has or may acquire any rights under, and no Seller has or may become subject to any obligation or liability under, any Contract that relates to the business of, or any of the assets owned or used by, the Acquired Company; and
(ii) to the Knowledge of Sellers and the Acquired Company, no officer, director, agent, employee, consultant, or contractor of the Acquired Company is bound by any Contract that purports to limit the ability of such officer, director, agent, employee, consultant, or contractor to (A) engage in or continue any conduct, activity, or practice relating to the business of the Acquired Company, or (B) assign to the Acquired Company or to any other Person any rights to any invention, improvement, or discovery.
(c) Except as set forth in Schedule 3.17(c):
(i) each Contract identified or required to be identified in Schedule 3.17(a) is in full force and effect and is valid and enforceable in accordance with its terms and that no arrangements exist which are not reflected on the Financial Statements and the Interim Financial Statements, and that no default exists under any such agreements; and
(ii) no Contract identified or required to be identified in Schedule 3.17(a) contains any term or requirement that is unreasonable, extraordinary, or not customary in the industries in which the Acquired Company operates.
(d) Except as set forth in Schedule 3.17(d):
(i) Acquired Company is, and at all times since January 1, 1995 has been, in material full compliance with all applicable terms and requirements of each Contract under which such company Acquired Company has or had any obligation or liability in excess of Five Thousand Dollars ($5,000.00) or by which such company Acquired Company or any of the assets owned or used by such company Acquired Company with a value in excess of Five Thousand Dollars ($5,000.00) is or was bound; ;
(ii) each other person or entity Person that has or had any obligation or liability under any Contract under which Stronghold the Acquired Company has or had any rights and involving any obligation or liability in excess of Five Thousand Dollars ($5,000.00) is, and at all times since January 1, 1995 has been, in material full compliance with all applicable terms and requirements of such Contract; ;
(iii) to the Knowledge of Stronghold, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold the Acquired Company or other person or entity Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and and
(iv) Stronghold the Acquired Company has not been given to or received from any other person or entity Person, at any time since January 1, 1995, any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, involving any obligation or liability in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(texcess of Five Thousand Dollars ($5,000.00);
(e) attached hereto, there There are no renegotiation renegotiations of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold the Acquired Company under current or completed Contracts with any person or entity and, to the Knowledge of Stronghold, Person and no such person or entity Person has made written demand for such renegotiation. .
(f) The Contracts relating to the sale, design, manufacture, or provision of products or services by Stronghold the Acquired Company have been entered into in the ordinary course Ordinary Course of business Business and have been entered into without the commission of any act alone or in concert with any other person or entityPerson, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.
Appears in 1 contract
Samples: Stock Purchase Agreement (Integrated Orthopedics Inc)
Contracts; No Defaults. Schedule 4(t(1) attached hereto Part 3.17(a) of the Disclosure Letter contains a complete and accurate list, and Stronghold Seller has made available delivered to the Purchaser Buyer true and complete copies, of:
(i1) each Applicable Contract that involves performance of services or delivery of goods or materials by the Company of an amount or value in excess of $25,000;
(ii2) each Applicable Contract that involves performance of services or delivery of goods or materials to the Company of an amount or value in excess of $25,000;
(3) each Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less Business and that involves expenditures or receipts of Stronghold one or more The Company in excess of $25,000;
(iii4) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 and with terms of less than one year);
(iv5) each licensing agreement or other Applicable Contract with respect to patents, trademarks, copyrights, or other intellectual property, including agreements with current or former employees, consultants, or contractors regarding the appropriation or the non-disclosure of any of the Intellectual Property Assets;
(6) each collective bargaining agreement and other Applicable Contract to or with any labor union or other employee representative of a group of employees;
(7) each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold the Company with any other person or entityPerson;
(v) 8) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold or any affiliate of the foregoing Company or limit the freedom of Stronghold or any affiliate of the foregoing Company to engage in any line of business or to compete with any person or entityPerson;
(vi) each employment or consulting agreement of Stronghold;
(vii9) each Applicable Contract providing for payments to or by any person or entity Person based on sales, purchases, or profits, other than direct payments for goods;
(viii10) each power of attorney executed by Stronghold that is currently effective and outstanding;
(ix11) each Applicable Contract entered into other than in the ordinary course Ordinary Course of business Business that contains or provides for an express undertaking by Stronghold the Company to be responsible for consequential damages;
(x12) each Applicable Contract for capital expenditures in excess of $25,000;
(xi13) each written warranty, guaranty, and or other similar undertaking with respect to contractual performance extended by Stronghold the Company other than in the ordinary course Ordinary Course of businessBusiness; and
(xii14) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. Part 3.17(a) of the Disclosure Letter sets forth reasonably complete details concerning such Contracts, including the parties to the Contracts, the amount of the remaining commitment of the Company under the Contracts, and the Company's office where details relating to the Contracts are located.
(2) Except as set forth in Schedule 4(tPart 3.17(b) attached heretoof the Disclosure Letter:
(1) Seller (and no Related Person of either Seller) neither has nor may acquire any rights under, and Seller neither has nor may become subject to any obligation or liability under, any Contract that relates to the business of, or any of the assets owned or used by, the Company; and
(i2) Stronghold to the Knowledge of Seller and the Company, no officer, director, agent, employee, consultant, or contractor of the Company is bound by any Contract that purports to limit the ability of such officer, director, agent, employee, consultant, or contractor to (A) engage in or continue any conduct, activity, or practice relating to the business of the Company, or (B) assign to the Company or to any other Person any rights to any invention, improvement, or discovery.
(3) Except as set forth in Part 3.17(c) of the Disclosure Letter, each Contract identified or required to be identified in Part 3.17(a) of the Disclosure Letter is in full force and effect and is valid and enforceable in accordance with its terms.
(4) Except as set forth in Part 3.17(d) of the Disclosure Letter:
(1) the Company is, and at all times since March 31, 1999 has been, in material full compliance with all applicable terms and requirements of each Contract under which such company the Company has or had any obligation or liability or by which such company the Company or any of the assets owned or used by such company the Company is or was bound; ;
(ii2) each other person or entity Person that has or had any obligation or liability under any Contract under which Stronghold an the Company has or had any rights is, and at all times since March 31, 1999 has been, in material full compliance with all applicable terms and requirements of such Contract; ;
(iii3) to the Knowledge of Stronghold, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold the Company or other person or entity Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and and
(iv4) Stronghold the Company has not been given to or received from any other person or entity Person, at any time since March 31, 1999, any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t.
(5) attached hereto, there There are no renegotiation renegotiations of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold the Company under current or completed Contracts with any person or entity Person and, to the Knowledge of StrongholdSeller and the Company, no such person or entity Person has made written demand for such renegotiation. .
(6) The Contracts relating to the sale, design, manufacture, or provision of products or services by Stronghold the Company have been entered into in the ordinary course Ordinary Course of business Business and have been entered into without the commission of any act alone or in concert with any other person or entityPerson, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.
Appears in 1 contract
Samples: Agreement and Plan of Reorganization (Dynamic Health Products Inc)
Contracts; No Defaults. Schedule 4(t(a) attached hereto To each Seller's Knowledge, part 3.17(a) of the Disclosure Letter contains a complete and accurate list, and Stronghold has made available Sellers have delivered to the Purchaser Buyer true and complete copies, of:
(i) each Applicable Contract that involves performance of services or delivery of goods or materials by the Company of an amount or value in excess of $25,000;
(ii) each Applicable Contract that was not entered into in involves performance of services or delivery of goods or materials to the ordinary course Company of business an amount or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less and that involves expenditures or receipts of Stronghold value in excess of $25,000;
(iii) each Applicable Contract that was not entered into in the Ordinary Course of Business and that involves expenditures or receipts of the Company in excess of $10,000;
(iv) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 10,000 and with terms of less than one year);
(ivv) each licensing agreement or other Applicable Contract with respect to patents, trademarks, copyrights, or other intellectual property, including agreements with current or former employees, consultants, or contractors regarding the appropriation or the non- disclosure of any of the Intellectual Property Assets, other than agreements providing for the use of software and similar property;
(vi) each collective bargaining agreement and other Applicable Contract to or with any labor union or other employee representative of a group of employees;
(vii) each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold the Company with any other person or entityPerson;
(vviii) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold or any affiliate of the foregoing Company or limit the freedom of Stronghold or any affiliate of the foregoing Company to engage in any line of business or to compete with any person or entityPerson;
(vi) each employment or consulting agreement of Stronghold;
(viiix) each Applicable Contract providing for payments to or by any person or entity Person based on sales, purchases, or profits, other than direct payments for goods;
(viiix) each power of attorney executed by Stronghold that is currently effective and outstanding;
(ixxi) each Applicable Contract entered into other than in the ordinary course Ordinary Course of business Business that contains or provides for an express undertaking by Stronghold the Company to be responsible for consequential damages;
(xxii) each Applicable Contract for capital expenditures in excess of $25,000;; and
(xixiii) each written warranty, guaranty, and or other similar undertaking with respect to contractual performance extended by Stronghold the Company other than in the ordinary course Ordinary Course of businessBusiness.
(b) To each Seller's Knowledge, except as set forth in Part 3.17(b) of the Disclosure Letter:
(i) no Seller (nor any Related Person of a Seller) has or may acquire any rights under, or has or may become subject to any obligation or liability under, any Contract that relates to the business of, or any of the assets owned or used by, the Company; and
(xiiii) each amendmentno officer, supplementdirector, and modification (whether oral agent, employee, consultant, or written) in respect of any contractor of the foregoing. Except Company is bound by any Contract that purports to limit the ability of such officer, director, agent, employee, consultant, or contractor to (A) engage in or continue any conduct, activity, or practice relating to the business of the Company, or (B) assign to the Company or to any other Person any rights to any invention, improvement, or discovery.
(c) To each Seller's Knowledge, except as set forth in Schedule 4(tPart 3.17(c) attached heretoof the Disclosure Letter, each Contract identified or required to be identified in Part 3.17(a) of the Disclosure Letter is in full force and effect and is valid and enforceable in accordance with its terms except that enforceability thereof may be limited by bankruptcy, insolvency, reorganization or other similar laws affecting creditors' rights generally and principles of equity regarding the availability of remedies.
(d) To each Seller's Knowledge, except as set forth in Part 3.17(d) of the Disclosure Letter:
(i) Stronghold the Company is, and has been, in material full compliance with all applicable terms and requirements of each Contract under which such company it has or had any obligation or liability or by which such company the Company or any of the assets owned or used by such company the Company is or was bound; ;
(ii) each other person or entity Person that has or had any obligation or liability under any Contract under which Stronghold the Company has or had any rights is, and has been, in full compliance in all material compliance respects with all applicable terms and requirements of such Contract; ;
(iii) to the Knowledge of Stronghold, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold the Company or other person or entity Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and and
(iv) Stronghold The Company has not been given to or received from any other person or entity Person, any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. .
(e) Except as disclosed on Schedule 4(tset forth in Part 3.17(e) attached heretoof the Disclosure Letter, to each Seller's Knowledge, there are no renegotiation renegotiations of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold the Company under current or completed Contracts with any person or entity andPerson, to the Knowledge of Stronghold, and no such person or entity Person has made written demand for such renegotiation. The .
(f) To each Seller's Knowledge, the Contracts relating to the sale, design, sale or provision of products or services by Stronghold the Company have been entered into in the ordinary course Ordinary Course of business Business and have been entered into without the commission of any act alone or in concert with any other person or entityPerson, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.
Appears in 1 contract
Contracts; No Defaults. Schedule 4(t(a) attached hereto Part 3.15(a) of the Disclosure Letter contains a complete and accurate list, and Stronghold the Company has made available delivered to the Purchaser Purchasers true and complete copies, of:
(i) each Applicable Contract that involves performance of services or delivery of goods or materials by the Company reasonably expected by the Company to be for an annual amount or value in excess of $500,000, including, for purposes of this clause (a)(i), each Contract with group purchasing organizations (GPOs), Integrated Delivery Networks (IDNs) and Contracts relating to asset management partnership programs (AMPPs), regardless of annual amount or value;
(ii) each Contract that involves performance of services or delivery of goods or materials to the Company of an amount or value in excess of $25,000;
(ii) each Applicable Contract that was not entered into in the ordinary course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less and that involves expenditures or receipts of Stronghold in excess of $25,000500,000;
(iii) each Contract that would be a "material contract" (as defined in Item 601(b)(10) of Regulation S-K promulgated by the SEC and assuming the Company was obligated to file applicable reports under the Exchange Act) to be performed after the date of this Agreement;
(iv) each (A) lease, sub-lease, rental or occupancy agreementagreement and other Contract affecting the leasing or use of, or any leasehold or other interest in, any real property used or occupied by the Company, by office location and (B) each lease, license, installment and conditional sale agreement, agreement and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 500,000 and with terms of less than one year);
(ivv) each licensing agreement or other Contract with respect to patents, trademarks, copyrights, or other intellectual property, excluding (A) agreements with current and former employees, consultants, or contractors regarding the appropriation or the non-disclosure of any of the Company's Intellectual Property Rights and (B) perpetual, paid-up licenses for commonly available software programs;
(vi) each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold the Company with any other person or entityPerson;
(vvii) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold or any affiliate of the foregoing Company or limit the freedom of Stronghold or any affiliate of the foregoing Company to engage in any line of business or to compete with any person or entityPerson;
(viviii) each employment or consulting agreement of Stronghold;
(vii) each Applicable Contract providing for payments to or by any person or entity Person based on sales, purchases, or profits, other than direct payments for goods;
(viiiix) each power of attorney executed by Stronghold that is currently effective and outstanding;
(ix) each Applicable Contract entered into other than in the ordinary course of business that contains or provides for an express undertaking by Stronghold to be responsible for consequential damages;
(x) each Applicable Contract for capital expenditures in excess of $25,000500,000;
(xi) each written warranty, guaranty, and or other similar undertaking with respect to contractual performance extended by Stronghold the Company other than in the ordinary course Ordinary Course of businessBusiness; and
(xii) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. .
(b) Except as set forth in Schedule 4(tPart 3.15(b) attached heretoof the Disclosure Letter, each Contract identified or required to be identified in Part 3.15(a) of the Disclosure Letter is in full force and effect and is valid and enforceable in accordance with its terms, except as limited by applicable bankruptcy, insolvency, reorganization, moratorium or other laws of general application affecting enforcement of creditors' rights and general principles of equity that restrict the availability of equitable remedies.
(c) Except as set forth in Part 3.15(c) of the Disclosure Letter:
(i) Stronghold is, and has been, the Company is in compliance in all material compliance respects with all applicable the terms and requirements of each Contract under which such company has or had any obligation or liability or by which such company or any of the assets owned or used by such company is or was bound; Contract;
(ii) to the Knowledge of the Company, each other person or entity Person that has or had any obligation or liability under any Contract under which Stronghold has or had any rights is, and has been, is in compliance in all material compliance respects with all applicable the terms and requirements of such Contract; ;
(iii) to the Knowledge of Strongholdthe Company, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or material breach of, or give Stronghold the Company or other person or entity Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and and
(iv) Stronghold the Company has not been given to or received from any other person or entity Person any written notice or other communication regarding (whether oral or writtenA) regarding any actual, alleged, possible, or potential material violation or material breach of, or default under, any Contract or (B) termination or non-renewal of any Contract. Each Applicable Contract is valid.
(d) The Company has received no written demands to renegotiate, in full forceand, and binding on and enforceable against to the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t) attached heretoKnowledge of the Company, there are no renegotiation of, attempts outstanding rights to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold the Company under current or completed Contracts with any person or entity and, to the Knowledge of Stronghold, no such person or entity has made written demand for such renegotiation. Person.
(e) The Contracts relating to the sale, design, sale or provision of products or services by Stronghold the Company have been entered into in the ordinary course Ordinary Course of business Business and have been entered into without the commission of any act alone or in concert with any other person or entityPerson, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.
Appears in 1 contract
Samples: Stock Purchase Agreement (Universal Hospital Services Inc)
Contracts; No Defaults. Schedule 4(t) attached hereto contains a complete and accurate list, and Stronghold has made available to the Purchaser true and complete copies, of:
(i) each Applicable Contract that involves contract or arrangement with any of the customers of the Company listed on Schedule 2.15 involving performance of services or ------------- delivery of goods or materials by the Company of an amount or value in excess of $25,000100,000, other than purchase orders received by the Company in the ordinary course of business requiring the Company to perform services or deliver goods;
(ii) each Applicable Contract that was not contract or arrangement with any of the suppliers to the Company listed on Schedule 2.16 involving performance of services or ------------- delivery of goods or materials to the Company of an amount or value in excess of $100,000, other than purchase orders entered into by the Company in the ordinary course of business for the purchase of services or is not cancelable goods by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less and that involves expenditures or receipts of Stronghold in excess of $25,000the Company;
(iii) each note, debenture, other evidence of indebtedness, guarantee, loan, letter of credit, surety bond or financing agreement or instrument or other contract for money borrowed, including any agreement or commitment for future loans, credit or financing entered into by the Company or by which the Company or any of its properties or assets are bound;
(iv) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract contract or arrangement affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or involving aggregate payments in excess of less than $25,000 and with terms of less than one year)100,000;
(ivv) each licensing agreement or other agreement with respect to patents, trademarks, copyrights, or other intellectual property and involving aggregate payments in excess of $100,000, and each agreement with current or former employees, consultants, or contractors regarding the appropriation or the nondisclosure of any Intellectual Property;
(vi) each collective bargaining agreement or other agreement to or with any labor union or other employee representative of a group of employees relating to wages, hours and other conditions of employment;
(vii) each joint ventureventure agreement, partnershippartnership agreement, and or limited liability company agreement or other Applicable Contract agreement (however named) involving a sharing of profits, losses, costs, costs or liabilities by Stronghold the Company with any other person or entity;
(v) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold or any affiliate of the foregoing or limit the freedom of Stronghold or any affiliate of the foregoing to engage in any line of business or to compete with any person or entity;
(vi) each employment or consulting agreement of Stronghold;
(vii) each Applicable Contract providing for payments to or by any person or entity based on sales, purchases, or profits, other than direct payments for goodsPerson;
(viii) each power agreement that commits capital expenditures after the date hereof in an amount in excess of attorney executed by Stronghold that is currently effective and outstanding$100,000;
(ix) each Applicable Contract entered into other than in the ordinary course power of business that contains or provides for an express undertaking by Stronghold to be responsible for consequential damages;attorney which is currently effective and outstanding; and
(x) each Applicable Contract for capital expenditures in excess of $25,000;
(xi) each written warranty, guaranty, and guaranty or other similar undertaking with respect to contractual performance extended by Stronghold the Company other than in the ordinary course of business; and.
(xiib) True and correct copies of each amendmentwritten Contract have been delivered to Purchaser.
(c) Except as set forth on Schedule 2.20, supplementeach of the Contracts listed on ------------- Schedule 2.20: (i) is in full force and effect, (ii) represents the legally ------------- valid and binding obligation of the Company and is enforceable against the Company in accordance with its terms, and modification (whether oral or writteniii) in respect of any to the Seller's Knowledge, represents the legally valid and binding obligation of the foregoingother parties thereto and is enforceable against such parties in accordance with its terms. Except as set forth in on Schedule 4(t) attached hereto2.20, (i) Stronghold is, and has been, the Company is not in material compliance with all applicable terms and requirements breach of each any ------------- Contract under which such company has or had any obligation or liability or by which such company or any of the assets owned or used by such company is or was bound; (ii) each other person or entity that has or had any obligation or liability under any Contract under which Stronghold has or had any rights isand, and has been, in material compliance with all applicable terms and requirements of such Contract; (iii) to the Knowledge of StrongholdSeller's Knowledge, no condition exists or event has occurred or circumstance exists that (which, with or without notice or lapse of time) may contravenetime or both, conflict with, or result in would constitute a material violation or breach of, or give Stronghold or other person or entity the right to declare a default or exercise any remedy under, a basis for force majeure or to accelerate the maturity claim of excusable delay or performance of, or to cancel, terminate, or modify, any Applicable Contract; and nonperformance under such Contracts.
(ivd) Stronghold has not been given or received from any other person or entity any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed set forth on Schedule 4(t) attached hereto2.20, there are no renegotiation renegotiations of, ------------- or, to the Seller's Knowledge, attempts to renegotiate, or outstanding rights to renegotiate renegotiate, any material amounts paid or payable to any of Stronghold the Company under current or completed Contracts Contracts, with any person Person or entity and, having the contractual or statutory right to the Knowledge of Stronghold, no demand or require such person or entity renegotiation. The Company has made not received any written demand for such renegotiation. The Contracts relating to the sale, design, or provision of products or services by Stronghold have been entered into renegotiation in the ordinary course of business and have been entered into without the commission respect of any act alone such Contract.
(e) Except as specifically noted on Schedule 2.5, no notice, consent or in concert with any other person or entity, or any consideration having been paid or promised, that is or would be in violation ------------ approval of any Legal Requirementpart to any Contract is required in connection with the purchase of the Shares or the consummation of the other transactions contemplated hereby.
(f) Except as set forth on Schedule 2.20, the Company has not committed ------------- any act or omission which would result in, and there has been no occurrence which would give rise to, any material product liability or liability for breach of warranty on the part of the Company.
Appears in 1 contract
Contracts; No Defaults. Schedule 4(t(a) attached hereto Part 3.17(a) of the Disclosure Letter contains a complete and accurate list, and Stronghold has made available Sellers have delivered to the Purchaser Buyer true and complete copies, of:
(i) each Applicable Contract that involves performance of services or delivery of goods or materials by the Company of an amount or value in excess of $25,00010,000.00;
(ii) each Applicable Contract that involves performance of services or delivery of goods or materials to the Company of an amount or value in excess of $10,000.00;
(iii) each Applicable Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less Business and that involves expenditures or receipts of Stronghold the Company in excess of $25,00010,000.00;
(iiiiv) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 5,000.00 and with terms of less than one year);
(ivv) each licensing agreement or other Applicable Contract with respect to patents, trademarks, copyrights, or other intellectual property, including agreements with current or former employees, consultants, or contractors regarding the appropriation or the non-disclosure of any of the Intellectual Property Assets;
(vi) each collective bargaining agreement and other Applicable Contract to or with any labor union or other employee representative of a group of employees;
(vii) each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold the Company with any other person or entityPerson;
(vviii) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold the Company or any affiliate Affiliate of the foregoing Company or limit the freedom of Stronghold the Company or any affiliate Affiliate of the foregoing Company to engage in any line of business or to compete with any person or entityPerson;
(vi) each employment or consulting agreement of Stronghold;
(viiix) each Applicable Contract providing for payments to or by any person or entity Person based on sales, purchases, or profits, other than direct payments for goods;
(viiix) each power of attorney executed by Stronghold that is currently effective and outstanding;
(ixxi) each Applicable Contract entered into other than in the ordinary course Ordinary Course of business Business that contains or provides for an express undertaking by Stronghold the Company to be responsible for consequential damages;
(xxii) each Applicable Contract for capital expenditures in excess of $25,00010,000.00;
(xixiii) each written warranty, guaranty, and or other similar undertaking with respect to contractual performance extended by Stronghold the Company other than in the ordinary course Ordinary Course of businessBusiness; and
(xiixiv) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. Part 3.17(a) of the Disclosure Letter sets forth reasonably complete details concerning such Contracts, including the parties to the Contracts, the amount of the remaining commitment of the Company under the Contracts, and the Company's office where details relating to the Contracts are located.
(b) Except as set forth in Schedule 4(tPart 3.17(b) attached hereto, of the Disclosure Letter:
(i) Stronghold none of Sellers (and no Related Person of Sellers) have or may acquire any rights under, and no Seller has or may become subject to any obligation or liability under, any Contract that relates to the business of, or any of the assets owned or used by, the Company; and
(ii) to the Knowledge of Sellers and the Company, no officer, director, agent, employee, consultant, or contractor of the Company is bound by any Contract that purports to limit the ability of such officer, member, manager, agent, employee, consultant, or contractor to (A) engage in or continue any conduct, activity, or practice relating to the business of the Company, or (B) assign to the Company or to any other Person any rights to any invention, improvement, or discovery.
(c) Except as set forth in Part 3.17(c) of the Disclosure Letter, each Contract identified or required to be identified in Part 3.17(a) of the Disclosure Letter is in full force and effect and is valid and enforceable in accordance with its terms.
(d) Except as set forth in Part 3.17(d) of the Disclosure Letter:
(i) the Company is, and at all times since January 1, 2004, has been, in material full compliance with all applicable terms and requirements of each Contract under which such company the Company has or had any obligation or liability or by which such company the Company or any of the assets owned or used by such company the Company is or was bound; ;
(ii) each other person or entity Person that has or had any obligation or liability under any Contract under which Stronghold the Company has or had any rights is, and at all times since January 1, 2004, has been, in material full compliance with all applicable terms and requirements of such Contract; ;
(iii) to the Knowledge of Stronghold, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold the Company or other person or entity Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and and
(iv) Stronghold the Company has not been given to or received from any other person or entity Person, at any time since January 1, 2004, any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t.
(e) attached hereto, there There are no renegotiation renegotiations of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold the Company under current or completed Contracts with any person or entity and, to the Knowledge of Stronghold, Person and no such person or entity Person has made written demand for such renegotiation. .
(f) The Contracts relating to the sale, design, manufacture, or provision of products or services by Stronghold the Company have been entered into in the ordinary course Ordinary Course of business Business and have been entered into without the commission of any act alone or in concert with any other person or entityPerson, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.
Appears in 1 contract
Contracts; No Defaults. (a) Schedule 4(t3.16(a) attached hereto contains a complete and accurate list, and Stronghold Seller has made available delivered or caused to the Purchaser be delivered to Buyer true and complete copies, of:
(i) each Applicable Contract that involves performance of services or delivery of goods or materials by the Company of an amount or value in excess of $25,0005,000;
(ii) each Applicable Contract that involves performance of services or delivery of goods or materials to the Company of an amount or value in excess of $5,000;
(iii) each Applicable Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less Business and that involves expenditures or receipts of Stronghold the Company in excess of $25,0005,000;
(iiiiv) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 1,000 and with terms of less than one year);
(ivv) each licensing agreement or other Applicable Contract with respect to patents, trademarks, copyrights, or other intellectual property, including agreements with current or former employees, consultants, or contractors regarding the appropriation or the non-disclosure of any of the Intellectual Property Assets;
(vi) each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold the Company with any other person or entityPerson;
(vvii) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold the Company or any affiliate Affiliate of the foregoing Company or limit the freedom of Stronghold the Company or any affiliate Affiliate of the foregoing Company to engage in any line of business or to compete with any person or entityPerson;
(vi) each employment or consulting agreement of Stronghold;
(viiviii) each Applicable Contract providing for payments to or by any person or entity Person based on sales, purchases, or profits, other than direct payments for goods;
(viiiix) each power of attorney executed granted by Stronghold or to the Company that is currently effective and outstanding;
(ixx) each Applicable Contract entered into other than in the ordinary course Ordinary Course of business Business that contains or provides for an express undertaking by Stronghold the Company to be responsible for consequential damages;
(xxi) each Applicable Contract for capital expenditures in excess of $25,0002,500;
(xixii) each written warranty, guaranty, and or other similar undertaking with respect to contractual performance extended by Stronghold the Company other than in the ordinary course Ordinary Course of businessBusiness; and
(xiixiii) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. .
(b) Except as set forth in Schedule 4(t) attached hereto, 3.16(b):
(i) Stronghold isNo Seller (nor any Related Person of any Seller) has or may acquire any rights under, and has been, in material compliance with all applicable terms and requirements of each Contract under which such company no Seller has or had may become subject to any obligation or liability or by which such company liability under, any Contract that relates to the business of, or any of the assets owned or used by such company is or was boundby, the Company; and
(ii) each other person No officer or entity that has or had any obligation or liability under employee of the Company is bound by any Contract under which Stronghold has that purports to limit the ability of such officer or had employee to (A) engage in or continue any conduct, activity, or practice relating to the business of the Company, or (B) assign to the Company any rights isto any invention, and has been, in material compliance with all applicable terms and requirements of such Contract; (iii) to the Knowledge of Stronghold, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict withimprovement, or result discovery.
(c) Except as set forth in a material violation Schedule 3.16(c), each Contract identified or breach of, or give Stronghold or other person or entity the right required to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and be identified in Schedule 3.16
(iva) Stronghold has not been given or received from any other person or entity any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, force and binding on effect and is valid and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t) attached hereto, there are no renegotiation of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold under current or completed Contracts with any person or entity and, to the Knowledge of Stronghold, no such person or entity has made written demand for such renegotiation. The Contracts relating to the sale, design, or provision of products or services by Stronghold have been entered into in the ordinary course of business and have been entered into without the commission of any act alone or in concert with any other person or entity, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirementterms.
Appears in 1 contract
Contracts; No Defaults. Schedule 4(t(1) attached hereto Part 4.17(1) of the Disclosure Letter contains a complete and accurate list, and Stronghold MCC has made available caused CMCC to the Purchaser deliver to Calgon true and complete copies, of:
: (i) each Applicable Contract that involves performance of services or delivery of goods or materials of an amount or value in excess of $25,000;
CMCC has entered into with the top eight (8) customers with respect to transaction amounts); (ii) each Applicable Contract that CMCC has entered into with the top eight (8) suppliers with respect to transaction amounts); (iii) each Applicable Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less and that involves expenditures or receipts of Stronghold in excess of $25,000;
Business; (iiiiv) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property; (v) each licensing agreement or other Applicable Contract with respect to patents, trademarks, copyrights, or other intellectual property, including agreements with current or former employees, consultants, or contractors regarding the appropriation or the non-disclosure of any of CMCC’s intellectual property assets; (except personal property leases vi) each collective bargaining agreement and installment and conditional sales agreements having other Applicable Contract to or with any labor union or other employee representative of a value per item or aggregate payments group of less than $25,000 and with terms of less than one year);
employees; (ivvii) each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold CMCC with any other person or entity;
Person; (vviii) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold or any affiliate of the foregoing CMCC or limit the freedom of Stronghold CMCC or any affiliate of the foregoing CMCC to engage in any line of business or to compete with any person or entity;
Person; (vi) each employment or consulting agreement of Stronghold;
(viiix) each Applicable Contract providing for payments to or by any person or entity Person based on sales, purchases, or profits, other than direct payments for goods;
; (viiix) each power of attorney executed by Stronghold that is currently effective and outstanding;
; (ixxi) each Applicable Contract entered into other than in the ordinary course Ordinary Course of business Business that contains or provides for an express undertaking by Stronghold CMCC to be responsible for consequential damages;
; (xxii) each Applicable Contract for capital expenditures in excess of $25,000;
¥30,000,000; (xixiii) each written warranty, guaranty, and or other similar undertaking with respect to contractual performance extended by Stronghold CMCC other than in the ordinary course Ordinary Course of businessBusiness; and
and (xiixiv) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. .
(i) Except as set forth in Schedule 4(tPart 4.17(2) attached heretoof the Disclosure Letter, neither MCC nor any Related Person of MCC has or may acquire any rights under, and MCC does not have or may not become subject to any obligation or liability under, any Contract that relates to the business of, or any of the assets owned or used by, CMCC; and (ii) to the Knowledge of MCC, no officer, director, agent, employee, consultant, or contractor of CMCC is bound by any Contract that purports to limit the ability of such officer, director, agent, employee, consultant, or contractor to (A) engage in or continue any conduct, activity, or practice relating to the business of CMCC, or (B) assign to CMCC or to any other Person any rights to any invention, improvement, or discovery.
(3) Each Applicable Contract identified or required to be identified in Part 4.17(1) of the Disclosure Letter or that involves performance of services or delivery of goods or materials of an amount or value in excess of ¥10,000,000 is in full force and effect and is valid and enforceable in accordance with its terms.
(4) Except as set forth in Part 4.17(4) of the Disclosure Letter, (i) Stronghold CMCC is, and at all times since the Share Acquisition Date has been, in material full compliance with all applicable terms and requirements of each Contract under which such company CMCC has or had any obligation or liability or by which such company CMCC or any of the assets owned or used by such company CMCC is or was bound; (ii) to the Knowledge of MCC, each other person or entity Person that has or had any obligation or liability under any Contract under which Stronghold CMCC has or had any rights is, and at all times since the Share Acquisition Date has been, in material full compliance with all applicable terms and requirements of such Contract; and (iii) to the Knowledge of Stronghold, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold CMCC or any other person or entity Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and .
(iv5) Stronghold has not been given or received from any other person or entity any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t) attached hereto, there There are no renegotiation renegotiations of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold CMCC under current or completed Contracts with any person or entity Person and, to the Knowledge of Stronghold, no such person or entity Person has made written demand for such renegotiation. MCC does not have any Knowledge of any termination of, or intent to terminate, any current Contracts with CMCC.
(6) The Contracts relating to the sale, design, manufacture, or provision of products or services by Stronghold CMCC have been entered into in the ordinary course Ordinary Course of business Business and have been entered into without the commission of any act alone or in concert with any other person or entityPerson, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.
(7) All security and other deposits or prepaid amounts paid in satisfaction of or to secure an obligation to CMCC were paid directly to and are currently held directly by CMCC. All rights and interests in any deposits or other prepaid amounts paid by or on behalf of CMCC, including the right to the return of such amounts is held directly and exclusively by CMCC.
Appears in 1 contract
Samples: Redemption, Asset Transfer and Contribution Agreement (Calgon Carbon Corporation)
Contracts; No Defaults. Schedule 4(t(a) attached hereto contains a complete To the best of the Company’s and accurate listthe Company’s Knowledge, and Stronghold the Company or the Company Shareholder has made available to the Purchaser Axxxxxxx true and complete copies, of:
(i) each Applicable Contract that involves performance of services or delivery of goods or materials by the Company of an amount or value in excess of $25,0005,000;
(ii) each Applicable Contract that involves performance of services or delivery of goods or materials to the Company of an amount or value in excess of $5,000;
(iii) each Applicable Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less Business and that involves expenditures or receipts of Stronghold the Company in excess of $25,0005,000;
(iiiiv) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 5,000 and with terms of less than one year);
(ivv) each licensing agreement or other Applicable Contract with respect to patents, trademarks, copyrights, or other intellectual property, including agreements with current or former employees, consultants, or contractors regarding the appropriation or the non-disclosure of any of the Intellectual Property Assets;
(vi) each collective bargaining agreement and other Applicable Contract to or with any labor union or other employee representative of a group of employees;
(vii) each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold the Company with any other person or entityPerson;
(vviii) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold the Company or any affiliate Affiliate of the foregoing Company or limit the freedom of Stronghold the Company or any affiliate Affiliate of the foregoing Company to engage in any line of business or to compete with any person or entityPerson;
(vi) each employment or consulting agreement of Stronghold;
(viiix) each Applicable Contract providing for payments to or by any person or entity Person based on sales, purchases, or profits, other than direct payments for goods;
(viiix) each power of attorney executed by Stronghold that is currently effective and outstanding;
(ixxi) each Applicable Contract entered into other than in the ordinary course Ordinary Course of business Business that contains or provides for an express undertaking by Stronghold the Company to be responsible for consequential damages;
(xxii) each Applicable Contract for capital expenditures in excess of $25,0005,000;
(xixiii) each written warranty, guaranty, and or other similar undertaking with respect to contractual performance extended by Stronghold the Company other than in the ordinary course Ordinary Course of businessBusiness; and
(xiixiv) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. Except as set forth in Schedule 4(t.
(b) attached hereto, To the best of the Company’s or the Company Shareholder’s Knowledge:
(i) Stronghold isneither the Company, the Company Shareholder nor any Related Person of either has or may acquire any rights under, and neither the Company nor the Company Shareholder has beenor will become subject to any obligation or liability under, any Contract that relates to the business of, or any of the assets owned or used by, the Company; and
(ii) To the best of the Company’s or the Company Shareholder’s Knowledge, no officer, director, agent, employee, consultant, or contractor of the Company is bound by any Contract that purports to limit the ability of such officer, director, agent, employee, consultant, or contractor to (A) engage in material or continue any conduct, activity, or practice relating to the business of the Company, or (B) assign to the Company or to any other Person any rights to any invention, improvement, or discovery.
(c) To the best of the Company’s or the Company Shareholder’s Knowledge, each Contract of the Company is in full force and effect and is valid and enforceable in accordance with its terms.
(d) To the best of the Company’s or the Company Shareholder’s Knowledge:
(i) the Company is in full compliance with all applicable terms and requirements of each Contract under which such company the Company has or had any obligation or liability or by which such company the Company or any of the assets owned or used by such company the Company is or was bound; ;
(ii) each other person or entity Person that has or had any obligation or liability under any Contract under which Stronghold the Company has or had any rights is, and has been, is in material full compliance with all applicable terms and requirements of such Contract; ;
(iii) to the Knowledge of Stronghold, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold the Company or other person or entity Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and and
(iv) Stronghold the Company has not been given to or received from any other person or entity Person any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against .
(e) To the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t) attached heretobest of the Company Shareholder’s Knowledge, there are no renegotiation renegotiations of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold the Company under current or completed Contracts with any person or entity and, to the Knowledge of Stronghold, Person and no such person or entity Person has made written demand for such renegotiation. The .
(f) To the best of the Company Shareholder’s Knowledge, the Contracts relating to the sale, design, manufacture, or provision of products or services by Stronghold the Company have been entered into in the ordinary course Ordinary Course of business Business and have been entered into without the commission of any act alone or in concert with any other person or entityPerson, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.
Appears in 1 contract
Contracts; No Defaults. (a) Section 3.17(a) of the Disclosure Schedule 4(t) attached hereto contains a complete and accurate list, and Stronghold has made available Sellers have delivered to the Purchaser Buyer true and complete copies, of:
(i) each Applicable Contract that involves performance of services or delivery of goods or materials by one or more Acquired Companies of an amount or value in excess of $25,000;3,000.
(ii) each Applicable Contract that involves performance of services or delivery of goods or materials to one or more Acquired Companies of an amount or value in excess of $3,000.
(iii) each Applicable Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less Business and that involves expenditures or receipts of Stronghold one or more Acquired Companies in excess of $25,000;3,000.
(iiiiv) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 1,000 and with terms of less than one year);
(ivv) each licensing agreement or other Applicable Contract with respect to patents, trademarks, service marks, copyrights, or other intellectual property, including agreements with current or former employees, consultants, or contractors regarding the appropriation or the non-disclosure of any of the Subject Proprietary Rights;
(vi) each collective bargaining agreement and other Applicable Contract to or with any labor union or other employee representative of a group of employees;
(vii) each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold any Acquired Company with any other person or entityPerson;
(vviii) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold any Acquired Company or any affiliate Affiliate of the foregoing an Acquired Company or limit the freedom of Stronghold any Acquired Company or any affiliate Affiliate of the foregoing an Acquired Company to engage in any line of business or to compete with any person or entityPerson;
(vi) each employment or consulting agreement of Stronghold;
(viiix) each Applicable Contract providing for payments to or by any person or entity Person based on sales, purchases, or profits, other than direct payments for goods;
(viiix) each power of attorney executed by Stronghold that is currently effective and outstanding;
(ixxi) each Applicable Contract entered into other than in the ordinary course Ordinary Course of business Business that contains or provides for an express undertaking by Stronghold any Acquired Company to be responsible for consequential damages;
(xxii) each Applicable Contract for capital expenditures in excess of $25,0001,000;
(xixiii) each written warranty, guaranty, and or other similar undertaking with respect to contractual performance extended by Stronghold any Acquired Company other than in the ordinary course Ordinary Course of businessBusiness; and
(xiixiv) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. .
(b) Except with respect to the Contemplated Transactions, or as otherwise set forth in Section 3.17(b) of the Disclosure Schedule:
(i) no Seller (and no Related Person of any Seller) has or may acquire any rights under, and no Seller has or may become subject to any obligation or liability under, any material Contract that relates to the business of, or any of the assets or properties owned or used by, any Acquired Company; and
(ii) to the Knowledge of Sellers and the Acquired Companies, no officer, director or employee of any Acquired Company is bound by any Contract that purports to limit the ability of such officer, director or employee to: (A) engage in or continue any conduct, activity, or practice relating to the business of any Acquired Company; or (B) assign to any Acquired Company or to any other Person any rights to any invention, improvement, or discovery.
(c) Except as set forth in Section 3.17(c) of the Disclosure Schedule, each Contract identified or required to be identified in Section 3.17(a) of the Disclosure Schedule 4(tis in full force and effect and is valid and enforceable in accordance with its terms.
(d) attached hereto, Except as set forth in Section 3.17(d) of the Disclosure Schedule:
(i) Stronghold each Acquired Company is, and at all times since January 1, 1999 has been, in material full compliance with all applicable material terms and requirements of each Contract under which such company Acquired Company has or had any obligation or liability or by which such company Acquired Company or any of the assets or properties owned or used by such company Acquired Company is or was bound; ;
(ii) to Sellers' Knowledge, each other person or entity Person that has or had any obligation or liability under any Contract under which Stronghold an Acquired Company has or had any rights is, and at all times since January 1, 1999 has been, in material compliance with all applicable material terms and requirements of such Contract; ;
(iii) to the Knowledge of Stronghold, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach Breach of, or give Stronghold any Acquired Company or, to Sellers' or the Acquired Companies' Knowledge, other person or entity Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and and
(iv) Stronghold no Acquired Company has not been given to or received from any other person or entity Person, at any time since January 1, 1999, any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach Breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. .
(e) Except as disclosed on Schedule 4(tset forth in Section 3.17(e) attached heretoof the Disclosure Schedule, there are no renegotiation renegotiations of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold Acquired Company under current or completed Contracts with any person or entity and, to the Knowledge of Stronghold, Person and no such person or entity Person has made written demand for such renegotiation. .
(f) The Contracts relating to the sale, design, manufacture, or provision of products or services by Stronghold the Acquired Companies have been entered into in the ordinary course Ordinary Course of business Business and have been entered into without the commission of any act alone or in concert with any other person or entityPerson, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.
Appears in 1 contract
Samples: Purchase and Sale Agreement (Measurement Specialties Inc)
Contracts; No Defaults. Schedule 4(t(a) attached hereto Part 3.18(a) of the Disclosure Letter contains a complete and accurate list, and Stronghold VECO has made available Provided to the Purchaser CH2M HILL true and complete copies, of:
(i) each Applicable Contract (including a series of related purchase orders or job orders) that involves performance of services by or to, or delivery of goods or materials by or to one or more Acquired Companies with revenues or costs, or expected revenues or costs of an amount or value in excess of $25,0001,000,000 at any time after March 31, 2006;
(ii) each Applicable Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less Business and that involves expenditures or receipts of Stronghold one or more Acquired Companies in excess of $25,000250,000;
(iii) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments per relevant lease or agreement of less than $25,000 and 250,000 or with terms of less than one year);
(iv) each Collective Agreement and other Applicable Contract to or with any labor union or other employee representative of a group of employees;
(v) each joint venture, venture partnership, teaming agreement and other similar Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold any Acquired Company with any other person or entityPerson;
(vvi) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold any Acquired Company or any affiliate Affiliate of the foregoing an Acquired Company or limit the freedom of Stronghold any Acquired Company or any affiliate Affiliate of the foregoing an Acquired Company to engage in any line of business or to compete with any person or entity;
(vi) each employment or consulting agreement of StrongholdPerson;
(vii) each Applicable Contract providing for payments to or by any person or entity Person based on sales, purchases, or profits, other than direct payments for goods;
(viii) each power of attorney executed by Stronghold relating to any Acquired Company that is currently effective and outstanding;
(ix) each Applicable Contract entered into other than in the ordinary course of business that contains or provides for an express undertaking by Stronghold any Acquired Company to be responsible for consequential damages; each Applicable Contract that (A) has a potential to result in a liability of any Acquired Company in excess of $500,000 and (b) that does not contain or provide for an express waiver of consequential damages and/or limitation of liability not to exceed $1,000,000;
(x) each Applicable Contract for future capital expenditures in excess of $25,000250,000;
(xi) each written warranty, guaranty, and guaranty or other similar undertaking with respect to contractual performance extended by Stronghold any Acquired Company other than any such warranty, guaranty or other similar undertaking that was made by such Acquired Company in the Ordinary Course of Business and that could not reasonably be expected to result in a Material Change as the result of honoring such Acquired Company’s obligations thereunder;
(xii) each Applicable Contract for the employment by VECO of any officer or director or relating to loans by any Acquired Company to the officers, directors, shareholders or Affiliates (or any of their respective Related Persons) of such Acquired Company (other than to another Acquiring Company);
(xiii) each Applicable Contract under which any Acquired Company has advanced or loaned any other Person (other than another Acquired Company) amounts in the aggregate exceeding $50,000;
(xiv) each Applicable Contract relating to borrowed money or other Indebtedness (other than from another Acquired Company)or the mortgaging, pledging or otherwise placing of an Encumbrance on any material asset or group of assets of any Consolidated Acquired Company (other than in favor of another Acquired Company);
(xv) each Applicable Contract pursuant to which any Acquired Company has guaranteed, endorsed or otherwise become liable (contingently or otherwise) for the debt, obligation or other liability of any other Person other than another Acquired Company (other than by endorsements of instruments in the ordinary course of businesscollection); and
(xiixvi) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. Except as set forth .
(b) Each Contract identified or required to be identified in Schedule 4(tPart 3.18(a) attached heretoof the Disclosure Letter is in full force and effect and is valid, binding and enforceable in accordance with its terms against the relevant Acquired Company and, to VECO’s Knowledge, against the other party to such contract, except that such enforceability may be subject to (i) Stronghold bankruptcy, insolvency, reorganization or other similar laws relating to enforcement of creditors’ rights generally, and (ii) general equitable principles. Each Contract identified or required to be identified in Part 3.18(a) of the Disclosure Letter has been duly approved by the applicable Acquired Company and, to VECO’s Knowledge, the other party thereto, to the extent such approval is required by applicable Legal Requirements and/or the Organizational Documents of such Parties, and, where applicable, by the applicable third parties.
(c) (i) Each Acquired Company is, and at all relevant times has been, in material compliance with all applicable terms and requirements of each Applicable Contract under which such company Acquired Company has or had any obligation or liability or by which such company Acquired Company or any of the assets owned or used by such company Acquired Company is or was bound; (ii) each other person or entity that has or had any obligation or liability under any Contract under which Stronghold has or had any rights is, and has been, in material compliance with all applicable terms and requirements of such Contract; (iii) to the Knowledge of Stronghold, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold or other person or entity the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and (iv) Stronghold has not been given or received from any other person or entity any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t) attached hereto, there are no renegotiation of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold under current or completed Contracts with any person or entity and, to the Knowledge of Stronghold, no such person or entity has made written demand for such renegotiation. The Contracts relating to the sale, design, or provision of products or services by Stronghold have been entered into in the ordinary course of business and have been entered into without the commission of any act alone or in concert with any other person or entity, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.;
Appears in 1 contract
Contracts; No Defaults. Schedule 4(t(a) attached hereto Part 3.16(a) of the Disclosure Letter contains a complete and accurate list, and Stronghold has made available Seller have delivered to the Purchaser Buyer true and complete copies, of:
(i) each Applicable Contract that involves performance of services or delivery of goods or materials by the Company of an amount or value in excess of $25,0005,000;
(ii) each Applicable Contract that involves performance of services or delivery of goods or materials to one or more The Company of an amount or value in excess of $5,000;
(iii) each Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less Business and that involves expenditures or receipts of Stronghold one or more The Company in excess of $25,0005,000;
(iiiiv) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 5,000 and with terms of less than one year);
(ivv) each licensing agreement or other Applicable Contract with respect to patents, trademarks, copyrights, or other intellectual property, including agreements with current or former employees, consultants, or contractors regarding the appropriation or the non-disclosure of any of the Intellectual Property Assets;
(vi) each collective bargaining agreement and other Applicable Contract to or with any labor union or other employee representative of a group of employees;
(vii) each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold the Company with any other person or entityPerson;
(vviii) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold or any affiliate of the foregoing Company or limit the freedom of Stronghold or any affiliate of the foregoing Company to engage in any line of business or to compete with any person or entityPerson;
(vi) each employment or consulting agreement of Stronghold;
(viiix) each Applicable Contract providing for payments to or by any person or entity Person based on sales, purchases, or profits, other than direct payments for goods;
(viiix) each power of attorney executed by Stronghold that is currently effective and outstanding;
(ixxi) each Applicable Contract entered into other than in the ordinary course Ordinary Course of business Business that contains or provides for an express undertaking by Stronghold the Company to be responsible for consequential damages;
(xxii) each Applicable Contract for capital expenditures in excess of $25,0005,000;
(xixiii) each written warranty, guaranty, and or other similar undertaking with respect to contractual performance extended by Stronghold the Company other than in the ordinary course Ordinary Course of businessBusiness; and
(xiixiv) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. .
(a) of the Disclosure Letter sets forth reasonably complete details concerning such Contracts, including the parties to the Contracts, the amount of the remaining commitment of the Company under the Contracts, and the Company's office where details relating to the Contracts are located.
(b) Except as set forth in Schedule 4(tPart 3.16(b) attached hereto, of the Disclosure Letter:
(i) Stronghold Seller (and no Related Person of Seller) has not nor may Seller acquire any rights under, and Seller has not nor may he become subject to any obligation or liability under, any Contract that relates to the business of, or any of the assets owned or used by, the Company; and
(ii) to the Knowledge of Seller and the Company, no officer, director, agent, employee, consultant, or contractor of the Company is bound by any Contract that purports to limit the ability of such officer, director, agent, employee, consultant, or contractor to (A) engage in or continue any conduct, activity, or practice relating to the business of the Company, or (B) assign to the Company or to any other Person any rights to any invention, improvement, or discovery.
(c) Except as set forth in Part 3.16(c) of the Disclosure Letter, each Contract identified or required to be identified in Part 3.16(a) of the Disclosure Letter is in full force and effect and is valid and enforceable in accordance with its terms.
(d) Except as set forth in Part 3.16(d) of the Disclosure Letter:
(i) the Company is, and at all times since December 31, 1995 has been, in material full compliance with all applicable terms and requirements of each Contract under which such company the Company has or had any obligation or liability or by which such company the Company or any of the assets owned or used by such company the Company is or was bound; ;
(ii) each other person or entity Person that has or had any obligation or liability under any Contract under which Stronghold an the Company has or had any rights is, and at all times since December 31, 1995 has been, in material full compliance with all applicable terms and requirements of such Contract; ;
(iii) to the Knowledge of Stronghold, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold the Company or other person or entity Person the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and and
(iv) Stronghold the Company has not been given to or received from any other person or entity Person, at any time since December 31, 1995, any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t.
(e) attached hereto, there There are no renegotiation renegotiations of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold the Company under current or completed Contracts with any person or entity Person and, to the Knowledge of StrongholdSeller and the Company, no such person or entity Person has made written demand for such renegotiation. .
(f) The Contracts relating to the sale, design, manufacture, or provision of products or services by Stronghold the Company have been entered into in the ordinary course Ordinary Course of business Business and have been entered into without the commission of any act alone or in concert with any other person or entityPerson, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.
Appears in 1 contract
Samples: Agreement and Plan of Reorganization (Dynamic Health Products Inc)
Contracts; No Defaults. Schedule 4(t(a) attached hereto contains CLDA has delivered to Buyer copies of all Contracts meeting the following descriptions (each, a complete and accurate list, and Stronghold has made available to the Purchaser true and complete copies, of:“Material Applicable Contract”):
(i) each Applicable Contract Contract, other than Contracts with suppliers and purchase orders, that involves performance of services or services, delivery of goods or materials or payments by or to VS of an amount or value in excess of one hundred and fifty thousand United States Dollars ($25,000150,000) or the equivalent in any other currency;
(ii) except as set forth in Schedule 3.14(a), each Applicable Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less and that involves expenditures or receipts of Stronghold in excess of $25,000Business;
(iii) each leaseApplicable Contract, rental or occupancy agreementother than Contracts with suppliers and purchase orders, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than one hundred and fifty thousand United States Dollars ($25,000 150,000) or the equivalent in any other currency and with remaining terms of less than one year);
(iv) each Applicable Contract with respect to Intellectual Property, including Contracts with current or former Employees or Quasi Employees (or the companies for which they work), consultants, or contractors regarding the ownership, use or non-disclosure of any of the Intellectual Property;
(v) each Applicable Contract, including any joint venture, partnership, and other Applicable Contract (however named) or limited liability company agreement, involving a sharing of profits, losses, costs, Taxes, or other liabilities by Stronghold VS with any other person or entityPerson;
(vvi) each Applicable Contract relating to indebtedness of VS in excess of one hundred and fifty thousand United States Dollars ($150,000) or the equivalent in any other currency;
(vii) each Applicable Contract relating to a distributor, reseller, OEM, dealer, manufacturer’s representative, broker, sales agency, advertising agency, finder’s, manufacturing, or assembly relationship with VS of an amount or value in excess of one hundred and fifty thousand United States Dollars ($150,000) or the equivalent in any other currency;
(viii) each Applicable Contract relating to any surety bond or letter of credit that is either (i) outside the Ordinary Course of Business or (ii) of an amount or value in excess of fifty thousand United States Dollars ($50,000) or the equivalent in any other currency;
(ix) each Applicable Contract with any labor union, Works Council or other employee representative body;
(x) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold or any affiliate of the foregoing VS or limit the freedom of Stronghold or any affiliate of the foregoing VS to engage in any line of business or to compete with any person or entityPerson;
(vi) each employment or consulting agreement of Stronghold;
(viixi) each Applicable Contract providing for payments to or by any person or entity Person based on or determined by reference to sales, purchases, purchases or profits, other than direct payments for goods;
(viiixii) each power of attorney executed by Stronghold that is currently effective and outstanding;
(ixxiii) each Applicable Contract entered into other than in the ordinary course of business that contains or provides for an express undertaking by Stronghold VS to be responsible for consequential damages;
(xxiv) each Applicable Contract for capital expenditures in excess of one hundred and fifty thousand United States Dollars ($25,000;150,000) or the equivalent in any other currency; and
(xixv) each written warranty, guaranty, and guaranty or other similar undertaking with respect to contractual performance extended by Stronghold VS other than in the ordinary course Ordinary Course of business; andBusiness.
(xiib) CLDA has delivered to Buyer a true and complete copy (in the case of each amendment, supplement, and modification written Applicable Contract) or an accurate written summary (whether in the case of each oral or writtenApplicable Contract) in respect of any each of the foregoing. Material Applicable Contracts.
(c) Except as set forth in Schedule 4(t) attached hereto3.14(c), (i) Stronghold isEach Material Applicable Contract is in full force and effect and is valid and enforceable in accordance with its terms. Neither VS nor, and has been, in material compliance with all applicable terms and requirements of each Contract under which such company has or had any obligation or liability or by which such company or any of the assets owned or used by such company is or was bound; (ii) each other person or entity that has or had any obligation or liability under any Contract under which Stronghold has or had any rights is, and has been, in material compliance with all applicable terms and requirements of such Contract; (iii) to the Knowledge of StrongholdCLDA, any other party to a Material Applicable Contract has Contravened any of the applicable terms of a Material Applicable Contract. To the Knowledge of CLDA, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict with, constitute or result directly or indirectly in a material violation or breach of, or give Stronghold or other person or entity the right to declare a default or exercise Contravention of any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Material Applicable Contract; and (iv) Stronghold . VS has not been given or received from any other person or entity any notice or other communication (whether oral written or writtenoral) regarding any actual, alleged, possible, alleged or potential violation or breach of, or default under, Contravention of any Material Applicable Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. .
(d) Except as disclosed on set forth in Schedule 4(t) attached hereto, there are no renegotiation of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold under current or completed Contracts with any person or entity and3.14(d), to the Knowledge of StrongholdCLDA, no such person party to a Material Applicable Contract has repudiated any provision of it. There currently are no renegotiations of or entity attempts to renegotiate any Material Applicable Contracts, nor has made any written demand for such renegotiationrenegotiation been made. CLDA has no Knowledge that any party to a Material Applicable Contract does not intend to renew it.
(e) The Contracts relating loan entered into by and between the Dutch State, VS and CLDA on October 4, 1996 (“Sxxxxx Loan”), sufficiently known to the saleparties to this Agreement, designis in full force and effect and is valid and enforceable in accordance with its terms. Neither the Sxxxxx Loan, or provision nor any of products or services by Stronghold the applicable terms thereof, have been entered into Contravened. To the Knowledge of CLDA, no event has occurred or circumstance exists that (with or without notice or lapse of time) may constitute or result directly or indirectly in Contravention of the ordinary course Sxxxxx Loan, and no notice or other communication (written or oral) regarding any actual, alleged or potential Contravention of business and have the Sxxxxx Loan has been entered into without received by VS as of the commission of any act alone or in concert with any other person or entity, or any consideration having been paid or promised, that is or would be in violation of any Legal RequirementClosing Date.
Appears in 1 contract
Contracts; No Defaults. Schedule 4(t(a) attached hereto Exhibit 5.10 contains a complete and accurate listlist of, and Stronghold Seller has made available delivered to the Purchaser Buyer true and complete copies, copies of:
(i) each Applicable Contract that involves performance of services or delivery of goods or materials by TBNG of an amount or value in excess of $25,000100,000;
(ii) each Applicable Contract that involves performance of services or delivery of goods or materials to TBNG of an amount or value in excess of $50,000;
(iii) each Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less Business and that involves expenditures or receipts of Stronghold TBNG in excess of $25,00050,000;
(iiiiv) each lease, rental or occupancy lease agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 and with terms of less than one year);
(ivv) each licensing agreement or other Contract with respect to patents, trademarks, copyrights, or other intellectual property, including agreements with current or former employees, consultants, or contractors regarding the appropriation or the non-disclosure of any of the Intellectual Property;
(vi) each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold TBNG with any other person or entityPerson;
(vvii) each Applicable Contract between or including TBNG and an Affiliate;
(viii) each Contract containing covenants that in any way purport to restrict the business activity of Stronghold TBNG or any affiliate Affiliate of the foregoing TBNG or limit the freedom of Stronghold TBNG or any affiliate Affiliate of the foregoing TBNG to engage in any line of business or to compete with any person or entity;
(vi) each employment or consulting agreement of Stronghold;
(vii) each Applicable Contract providing for payments to or by any person or entity based on sales, purchases, or profits, other than direct payments for goods;
(viii) each power of attorney executed by Stronghold that is currently effective and outstandingPerson;
(ix) each Applicable Contract entered into other than in the ordinary course power of business attorney granted by TBNG that contains or provides for an express undertaking by Stronghold to be responsible for consequential damagesis currently effective;
(x) each Applicable Contract for capital expenditures in excess of $25,000;
(xi) each written warranty, guaranty, and or other similar undertaking with respect to contractual performance extended by Stronghold TBNG other than in the ordinary course Ordinary Course of business; andBusiness;
(xiixi) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. Except as set forth in Schedule 4(t; and
(xii) attached hereto, the Contract between PTI and TBNG regarding sharing exploration and drilling expenses and sales proceeds
(ib) Stronghold is, Seller (and has been, in material compliance with all applicable terms and requirements each Affiliate of each Contract Seller) does not have any rights under which such company has or had any obligation or liability under and does not have the right to require or by which such company will not become subject to, any Contract that relates to the business of, or any of the assets owned or used by, TBNG;
(c) To the knowledge of Seller or TBNG, no officer, director, agent, employee, consultant, or contractor of TBNG is bound by any Contract that purports to limit the ability of such company officer, director, agent, employee, consultant, or contractor to (i) engage in or continue any conduct, activity, or practice relating to the business of TBNG, or (ii) assign to TBNG or to any other Person any rights to any invention, improvement, or discovery;
(d) With respect to each Contract identified or required to be identified in Exhibit 5.10, (i) the Contract is or was boundlegal, valid, binding, enforceable and in full force and effect; (ii) each other person or entity that has or had any obligation or liability under any the Contract under which Stronghold has or had any rights iswill continue to be legal, valid, binding, enforceable and has been, in material compliance with all applicable full force and effect on identical terms and requirements following the consummation of such Contractthe transactions contemplated hereby; (iii) to the Knowledge of Strongholdno party is in breach or default, and no event has occurred or circumstance exists that (which with or without notice or lapse of time) may contravene, conflict withtime would constitute a breach or default, or result in a material violation permit termination, modification or breach ofacceleration, or give Stronghold or other person or entity under the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and (iv) Stronghold no party has repudiated any provision of the Contract;
(e) TBNG has not been given to or received from any other person or entity Person, at any time since January 1, 2005, any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t; and
(f) attached hereto, there There are no renegotiation renegotiations of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold TBNG under current or completed Contracts with any person or entity Person and, to the Knowledge knowledge of StrongholdTBNG, no such person or entity Person has made written demand for such renegotiation. The Contracts relating to the sale, design, or provision of products or services by Stronghold have been entered into in the ordinary course of business and have been entered into without the commission of any act alone or in concert with any other person or entity, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.
Appears in 1 contract
Contracts; No Defaults. (a) Schedule 4(t) attached hereto 5.1.10 contains a complete and accurate list, and Stronghold has made available Sellers have delivered to the Purchaser Buyer true and complete copies, of:
(i) each Applicable Contract that involves performance of services or delivery of goods or materials by one or more Sellers of an amount or value in excess of $25,00050,000;
(ii) each Applicable Contract that involves performance of services or delivery of goods or materials to one or more Sellers of an amount or value in excess of $50,000;
(iii) each Contract that was not entered into in the ordinary course Ordinary Course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less Business and that involves expenditures or receipts of Stronghold one or more Sellers in excess of $25,00050,000;
(iiiiv) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract affecting the ownership of, leasing of, title to, use of, or any leasehold or other interest in, any real or personal property (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 50,000 and with terms of less than one year);
(ivv) each licensing agreement or other Contract with respect to Intellectual Property Assets, including agreements with current or former employees, consultants, or contractors regarding the appropriation or the non-disclosure of any of the Intellectual Property Assets;
(vi) each collective bargaining agreement and other Contract to or with any labor union or other employee representative of a group of employees;
(vii) each joint venture, partnership, and other Applicable Contract (however named) involving a sharing of profits, losses, costs, or liabilities by Stronghold any Seller with any other person or entityPerson;
(vviii) each Applicable Contract containing covenants that in any way purport to restrict the business activity of Stronghold any Seller or any affiliate Affiliate of the foregoing any Seller or limit the freedom of Stronghold any Seller or any affiliate of the foregoing any Seller to engage in any line of business or to compete with any person or entityPerson;
(viix) each employment or consulting agreement of Stronghold;
(vii) each Applicable Contract providing for payments to or by any person or entity Person based on sales, purchases, or profits, other than direct payments for goods;
(viiix) each power of attorney executed by Stronghold that is currently effective and outstanding;
(ix) ; each Applicable Contract entered into other than in the ordinary course Ordinary Course of business Business that contains or provides for an express undertaking by Stronghold any Seller to be responsible for special, exemplary or consequential damages;
(xxi) each Applicable Contract for capital expenditures in excess of $25,000;
(xi) 50,000; each written warranty, guaranty, and or other similar undertaking with respect to contractual performance extended by Stronghold any Seller other than in the ordinary course Ordinary Course of businessBusiness;
(xii) each warehouse, safety deposit box and other storage rental or lease agreement to which any Seller is a party or pursuant to which any assets of any Seller are stored; and
(xiixiii) each amendment, supplement, and modification (whether oral or written) in respect of any of the foregoing. .
(b) Schedule 5.1.10(b) sets forth reasonably complete details concerning the Contracts listed therein, including the parties to such Contracts, the amount of the remaining commitment of the Sellers under such Contracts, and the Sellers' office where details relating to such Contracts are located which will be delivered to Buyer at least ten days prior to the Bid Deadline.
(c) Except as set forth in Schedule 4(t) attached hereto, 5.1.10:
(i) Stronghold no Related Person of any Seller has or may acquire any rights under, and no such Related Person has or may become subject to any obligation or liability under, any Contract that relates to the business of, or any of the assets or rights owned, used or exercised by, any Seller; and
(ii) to the Knowledge of Sellers, no officer, director, agent, employee, consultant, or contractor of any Seller is bound by any Contract that purports to limit the ability of such officer, director, agent, employee, consultant, or contractor to (A) engage in or continue any conduct, activity, or practice relating to the business of any Seller, or (B) assign to any Seller or to any other Person any rights to any invention, improvement, or discovery.
(iii) Except as set forth in Schedule 5.1.10, and except for defaults by Sellers in their monetary obligations, each Contract identified or required to be identified in Schedule 5.1.10 is in full force and effect and is valid and enforceable in accordance with its terms.
(d) Except as set forth in Schedule 5.1.10 and except for defaults by Sellers in their monetary obligations:
(i) each Seller is, and at all times since June 30, 1999 has been, in material full compliance with all applicable terms and requirements of each Contract under which such company Seller has or had any obligation or liability or by which such company Seller or any of the assets owned or used by such company Seller is or was bound; ;
(ii) each other person or entity that has or had any obligation or liability under any Contract under which Stronghold has or had any rights is, and has been, in material compliance with all applicable terms and requirements of such Contract; (iii) to the Knowledge of Stronghold, no event has occurred or circumstance exists that (with or without notice or lapse of timetime or both) may contravene, conflict with, or result in a material violation or breach of, or give Stronghold or any Seller (or, to Sellers' Knowledge, any other person or entity Person) the right to declare a default or exercise any remedy under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and ;
(iviii) Stronghold no Seller has not been given to or received from any other person or entity Person, at any time since June 30, 1999, any notice or other communication (whether oral or written) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, in full force, and binding on and enforceable against ;
(iv) the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t) attached hereto, there are no renegotiation of, attempts to renegotiate, or outstanding rights to renegotiate any material amounts paid or payable to any of Stronghold under current or completed Contracts with any person or entity and, to the Knowledge of Stronghold, no such person or entity has made written demand for such renegotiation. The Contracts relating to the sale, design, manufacture, or provision of products or services by Stronghold the Sellers have been entered into in the ordinary course Ordinary Course of business Business and have been entered into without the commission of any act alone or in concert with any other person or entityPerson, or any consideration having been paid or promised, that is or would be in violation of any Legal Requirement.
Appears in 1 contract
Contracts; No Defaults. Schedule 4(t(a) attached hereto Exhibit A contains a complete and accurate listlisting of all contracts, and Stronghold has agreements or commitments (whether written or oral) described in clauses (i) through (xv) below, to which any Acquired Company is a party. Copies of contracts referred to in clauses (ii) through (xv) have been delivered or made available to the Purchaser true WMT. Copies of contracts referred to in clause (i) are available for inspection and complete copies, of:copying by WMT and its agents and representatives upon written request.
(i) each Applicable Contract that contract, agreement or commitment (whether written or oral), whether in the ordinary course of business or not, which involves performance of services or delivery of goods and/or materials, by one or materials more Acquired Companies of an any amount or value in excess of $25,000100,000 other than invoices and purchase orders for goods and services in the ordinary course of business;
(ii) each Applicable Contract that was not entered into in contract, agreement or commitment (whether written or oral) out of the ordinary course of business or is not cancelable by Stronghold or a subsidiary of Stronghold with no penalty upon advance notice of 30 days or less and that involves involving expenditures or receipts of Stronghold one or more Acquired Companies in excess of $25,000100,000;
(iii) each lease, rental or occupancy agreement, license, installment and conditional sale agreement, and other Applicable Contract contract, agreement or commitment (whether written or oral) affecting the ownership of, leasing of, title to, use of, of or any leasehold or other interest in, any real or personal property of any Acquired Company (except personal property leases and installment and conditional sales agreements having a value per item or aggregate payments of less than $25,000 100,000 and with terms of less than one (1) year);
(iv) each joint venturelicensing agreement or other agreement or commitment with respect to patents, partnershiptrademarks, copyrights or other intellectual property, including agreements with current or former employees, consultants or contractors regarding the appropriation or the nondisclosure of Intellectual Property Assets, as hereinafter defined, of any Acquired Company involving expenditures or receipts of any Acquired Company in excess of $100,000;
(v) each contract, agreement or commitment known to the Stockholders to which any employee, consultant, adviser or contractor of any Acquired Company is bound which in any manner purports to restrict such employee's, consultant's or contractor's freedom to engage in any line of business or to compete with any other person, or assign to any other person such employee's, consultant's or contractor's rights to any invention, improvement or discovery;
(vi) each collective bargaining agreement or other contract or commitment to or with any labor union or other employee representative of a group of employees relating to wages, hours and other Applicable Contract conditions of employment of any Acquired Company;
(vii) each joint venture contract, partnership arrangement or other agreement (however named) involving a sharing of profits, losses, costs, costs or liabilities by Stronghold any Acquired Company with any other person or entityparty;
(vviii) each Applicable Contract contract, agreement or commitment (whether written or oral) containing covenants that which in any way purport to restrict the any Acquired Company's business activity of Stronghold or any affiliate of the foregoing or purport to limit the freedom of Stronghold or any affiliate of the foregoing Acquired Company to engage in any line of business or to compete with any person or entityperson;
(viix) each employment contract, agreement or consulting agreement of Stronghold;
commitment (viiwhether written or oral) each Applicable Contract providing for payments to or by any person or entity based on sales, purchases, purchases or profits, other than direct payments for goodsgoods relating to any Acquired Company;
(viiix) each power of attorney executed by Stronghold that which is currently effective and outstandingoutstanding relating to any Acquired Company;
(ixxi) each Applicable Contract contract, agreement or commitment (whether written or oral) entered into other than in the ordinary course of business that which contains or provides for an express undertaking by Stronghold any Acquired Company to be responsible for consequential damages;
(xxii) each Applicable Contract contract, agreement, purchase order or commitment (whether written or oral) for capital expenditures in excess of $25,00050,000 relating to any Acquired Company;
(xixiii) each written warranty, guaranty, and guaranty or other similar undertaking with respect to contractual performance extended by Stronghold any Acquired Company other than in the ordinary course of business;
(xiv) each other material agreement to which any Acquired Company is a party or by which any Acquired Company is bound; and
(xiixv) each amendment, supplement, supplement and modification (whether oral written or writtenoral) in respect of any of the foregoing. Except as set forth .
(b) To the Stockholders' knowledge, all of the contracts, agreements or commitments listed in Schedule 4(tExhibit A pursuant to Section 4.18(a) attached heretohereof are in full force and effect, (i) Stronghold isare valid and enforceable in accordance with their terms, and has been, in material compliance with all applicable terms and requirements of each Contract under which such company has to Stockholders' knowledge no condition exists or had any obligation or liability or by which such company or any of the assets owned or used by such company is or was bound; (ii) each other person or entity that has or had any obligation or liability under any Contract under which Stronghold has or had any rights is, and has been, in material compliance with all applicable terms and requirements of such Contract; (iii) to the Knowledge of Stronghold, no event has occurred or circumstance exists that (which, with or without notice or lapse of time) may contravenetime or both, conflict with, or result in a material violation or breach of, or give Stronghold or other person or entity the right to declare would constitute a default or exercise a basis for force majeure or other claim of excusable delay or nonperformance thereunder on the part of any remedy underAcquired Company or, to the Stockholders' knowledge, a default or to accelerate a basis for force majeure or other claim of excusable delay or nonperformance thereunder on the maturity or performance of, or to cancel, terminate, or modify, any Applicable Contract; and (iv) Stronghold has not been given or received from part of any other person or entity any notice or other communication party thereto, which would have a Material Adverse Effect on the Company.
(whether oral or writtenc) regarding any actual, alleged, possible, or potential violation or breach of, or default under, any Contract. Each Applicable Contract is valid, Other than in full force, and binding on and enforceable against the other party or parties to such contract in accordance with its terms and provisions. Except as disclosed on Schedule 4(t) attached heretoordinary course of business, there are no renegotiation current renegotiations of, or attempts to renegotiate, or outstanding contractual rights to renegotiate require renegotiation of, any material amounts paid or payable to any of Stronghold Acquired Company under current or completed Contracts contracts, agreements or commitments with any person or entity and, having the contractual or statutory right to demand or require such renegotiation. To the Knowledge knowledge of Strongholdthe Stockholders, no such person or entity has made written demand for such renegotiation. .
(d) The Contracts contracts, agreements or commitments relating to the sale, design, manufacture or provision of products or services by Stronghold any Acquired Company have been entered into in the ordinary course of business and have been entered into without the commission of any act alone or in concert with any other person or entityperson, or any consideration having been paid or promised, that which is or would be in violation of any Legal Requirementapplicable law.
Appears in 1 contract
Samples: Stock Purchase Agreement (Western Micro Technology Inc)