Common use of PURCHASE AND SALE 1 Clause in Contracts

PURCHASE AND SALE 1. Section 1.1 Purchase and Sale of the Membership Interests 1 Section 1.2 Earn Out 5 Section 1.3 Closing 7 ARTICLE II REPRESENTATIONS AND WARRANTIES OF THE COMPANY AND THE MEMBERS 8 Section 2.1 Organization, Etc 8 Section 2.2 Capitalization 8 Section 2.3 Authority Relative to this Agreement 9 Section 2.4 Consents and Approvals; No Violations 9 Section 2.5 Financial Statements 9 Section 2.6 No Undisclosed Liabilities; Discharge of Obligations 10 Section 2.7 Absence of Certain Changes 10 Section 2.8 Compliance with Law 11 Section 2.9 Material Contracts 11 Section 2.10 Permits 12 Section 2.11 Litigation 12 Section 2.12 Taxes 12 Section 2.13 Owned and Leased Properties; Sufficiency of Assets 14 Section 2.14 Intellectual Property; Personal Information 17 Section 2.15 Insurance 19 Section 2.16 Environmental Matters 19 Section 2.17 Employee and Labor Matters 21 Section 2.18 Employee Plans 21 Section 2.19 Brokers and Finders 23 Section 2.20 Member Vote Required 23 Section 2.21 Absence of Questionable Payments 23 Section 2.22 Books and Records 24 Section 2.23 Bank Accounts; Powers of Attorney 24 Section 2.24 Customers and Suppliers 24 Section 2.25 Accounts Receivable 24 Section 2.26 Accounts Payable 24 Section 2.27 Certain Transactions 24 Section 2.28 No Other Representations and Warranties. 25 Section 2.29 Disclosure 25

PURCHASE AND SALE 1. Section 1.1 2.1 Purchase and Sale of the Membership Purchased Interests 1 Section 1.2 Earn Out 5 2.2 Closing 2 Section 1.3 2.3 Transactions to Be Effected at the Closing 2 Section 2.4 Purchase Price Adjustment 4 Section 2.5 Withholding 7 ARTICLE II III REPRESENTATIONS AND WARRANTIES OF THE COMPANY AND THE MEMBERS SELLER 7 Section 3.1 Organization and Existence 8 Section 2.1 Organization, Etc 3.2 Authority and Enforceability 8 Section 2.2 3.3 Capitalization of the Company; Title to Purchased Interests 8 Section 2.3 Authority Relative to this Agreement 3.4 Company Subsidiaries 9 Section 2.4 Consents and Approvals; No Violations 9 3.5 Noncontravention 10 Section 2.5 3.6 Financial Statements 9 Section 2.6 No Undisclosed Liabilities; Discharge of Obligations 10 Section 2.7 3.7 Absence of Certain Undisclosed Liabilities 11 Section 3.8 Absence of Changes 10 11 Section 2.8 3.9 Proceedings and Orders 13 Section 3.10 Compliance with Law 11 Laws; Permits 13 Section 2.9 3.11 Material Contracts 11 15 Section 2.10 Permits 12 Section 2.11 Litigation 12 Section 2.12 Taxes 12 Section 2.13 Owned 3.12 Real and Leased Properties; Sufficiency of Assets 14 Section 2.14 Intellectual Property; Personal Information Property 17 Section 2.15 Insurance 19 3.13 Employee Benefits 18 Section 2.16 3.14 Labor and Employment Matters 20 Section 3.15 Environmental Matters 19 Section 2.17 Employee and Labor Matters 21 Section 2.18 Employee Plans 21 3.16 Insurance 22 Section 2.19 Brokers and Finders 23 3.17 Taxes. 22 Section 2.20 Member Vote Required 23 Section 2.21 Absence of Questionable Payments 23 Section 2.22 Books and Records 3.18 Intellectual Property 24 Section 2.23 Bank Accounts; Powers of Attorney 24 3.19 Affiliate Transactions 27 Section 2.24 3.20 Major Customers and Suppliers 24 Major Vendors 27 Section 2.25 3.21 Brokers 28 Section 3.22 Product Liability 28 Section 3.23 Accounts Receivable 24 Section 2.26 and Notes Receivable; Accounts Payable 24 28 Section 2.27 Certain Transactions 24 3.24 Inventory 29 Section 2.28 No Other Representations and Warranties. 25 Section 2.29 Disclosure 253.25 Disclaimer of Warranties 29

PURCHASE AND SALE 1. Section 1.1 Purchase and Sale of the Membership Interests 1 Section 1.2 Earn Out 5 Assets 1 Section 1.3 Closing Excluded Assets 3 Section 1.4 Effective Time 4 ARTICLE 2 PURCHASE PRICE 6 Section 2.1 Purchase Price 6 Section 2.2 Adjustment to Purchase Price 6 Section 2.3 Allocation of Purchase Price 7 Section 2.4 Earn-Out 7 ARTICLE II 3 POST-CLOSING CONSENTS 8 Section 3.1 Post-Closing Consents 8 ARTICLE 4 REPRESENTATIONS AND WARRANTIES OF THE COMPANY AND THE MEMBERS 8 Section 2.1 Organization, Etc 8 Section 2.2 Capitalization 8 Section 2.3 Authority Relative to this Agreement SELLER 9 Section 2.4 Consents 4.1 Existence and Approvals; No Violations Qualification 9 Section 2.5 Financial Statements 4.2 Power 9 Section 2.6 4.3 Authorization and Enforceability 9 Section 4.4 No Undisclosed Liabilities; Discharge of Obligations Conflicts 9 Section 4.5 Broker’s or Finder’s Fees 9 Section 4.6 Leases and Unit 9 Section 4.7 Compliance with Laws 10 Section 2.7 Absence of Certain Changes 4.8 Environmental Matters 10 Section 2.8 Compliance with Law 4.9 Preferential Purchase Rights and Material Required Consents 10 Section 4.10 Litigation 10 Section 4.11 Bankruptcy 11 Section 2.9 Material Contracts 4.12 Taxes 11 Section 2.10 Permits 4.13 Certain Disclaimers 11 ARTICLE 5 REPRESENTATIONS AND WARRANTIES OF PURCHASER 12 Section 2.11 Litigation 5.1 Existence 12 Section 2.12 Taxes 5.2 Power 12 Section 2.13 Owned 5.3 Authorization and Leased Properties; Sufficiency of Assets 14 Enforceability 12 Section 2.14 Intellectual Property; Personal Information 17 5.4 No Conflicts 13 Section 2.15 Insurance 19 5.5 Broker’s and Finder’s Fees 13 Section 2.16 Environmental Matters 19 Section 2.17 Employee and Labor Matters 21 Section 2.18 Employee Plans 21 Section 2.19 Brokers and Finders 23 Section 2.20 Member Vote Required 23 Section 2.21 Absence of Questionable Payments 23 Section 2.22 Books and Records 24 Section 2.23 Bank Accounts; Powers of Attorney 24 Section 2.24 Customers and Suppliers 24 Section 2.25 Accounts Receivable 24 Section 2.26 Accounts Payable 24 Section 2.27 Certain Transactions 24 Section 2.28 No Other Representations and Warranties. 25 Section 2.29 Disclosure 255.6 Bankruptcy 13

PURCHASE AND SALE 1. Section 1.1 SECTION 2.1. Purchase and Sale of the Membership Interests Shares 1 Section 1.2 Earn Out SECTION 2.2. Purchase and Sale of the Assets 2 SECTION 2.3. Determination of Closing Date Net Working Capital Amount 2 SECTION 2.4. Adjustments 4 SECTION 2.5. Allocation of Purchase Price 5 Section 1.3 ARTICLE III THE CLOSING 5 SECTION 3.1. Closing 7 Date 5 SECTION 3.2. Transactions to be Effected at the Closing 6 ARTICLE II IV REPRESENTATIONS AND WARRANTIES OF THE COMPANY SELLERS 7 ARTICLE V REPRESENTATIONS AND THE MEMBERS 8 Section 2.1 OrganizationWARRANTIES OF GC, Etc 8 Section 2.2 Capitalization 8 Section 2.3 Authority Relative to this Agreement 9 Section 2.4 Consents ASIA GC, GC NORTH AMERICA AND SATURN 10 SECTION 5.1. Organization and Approvals; No Violations 9 Section 2.5 Standing 10 SECTION 5.2. Capital Stock and Share Capital of the Companies 10 SECTION 5.3. Subsidiaries 11 SECTION 5.4. Financial Statements 9 Section 2.6 No Undisclosed Liabilities; Discharge of Obligations 10 Section 2.7 11 SECTION 5.5. Absence of Certain Changes 10 Section 2.8 12 SECTION 5.6. Litigation 14 SECTION 5.7. Compliance with Law 11 Section 2.9 Applicable Laws 14 SECTION 5.8. Material Contracts 11 Section 2.10 Permits 12 Section 2.11 Litigation 12 Section 2.12 14 SECTION 5.9. Intellectual Property 15 SECTION 5.10. Benefit Plans 16 SECTION 5.11. Taxes 12 Section 2.13 Owned and Leased Properties; Sufficiency of Assets 14 Section 2.14 Intellectual Property; Personal Information 17 Section 2.15 Insurance 19 Section 2.16 SECTION 5.12. Environmental Matters 19 Section 2.17 Employee and Labor Matters 20 SECTION 5.13. Insurance 21 Section 2.18 Employee Plans 21 Section 2.19 Brokers and Finders 23 Section 2.20 Member Vote Required 23 Section 2.21 Absence of Questionable Payments 23 Section 2.22 Books and Records 24 Section 2.23 Bank Accounts; Powers of Attorney 24 Section 2.24 SECTION 5.14. Major Customers and Suppliers 22 SECTION 5.15. Labor Matters 22 SECTION 5.16. Product Warranty 22 SECTION 5.17. Fairness Opinions 23 SECTION 5.18. Certain IPC Entity Guarantees and Obligations 23 ARTICLE VI REPRESENTATIONS AND WARRANTIES OF THE BUYER 23 SECTION 6.1. Organization and Existence 23 SECTION 6.2. Authorization 23 SECTION 6.3. Consent and Filings 23 SECTION 6.4. Noncontravention 24 Section 2.25 Accounts Receivable SECTION 6.5. Litigation 24 Section 2.26 Accounts Payable SECTION 6.6. Brokers and Intermediaries 24 Section 2.27 Certain Transactions SECTION 6.7. Investment Intent 24 Section 2.28 No Other Representations and WarrantiesSECTION 6.8. 25 Section 2.29 Disclosure 25Investigation 24 SECTION 6.9. Funding 24

PURCHASE AND SALE 1. Section 1.1 Purchase and Sale of the Membership Interests 1 Section 1.2 Earn Out 5 Working Capital Adjustment 2 Section 1.3 Closing 7 2 ARTICLE II REPRESENTATIONS AND WARRANTIES OF THE COMPANY AND THE MEMBERS 8 MEMBER 3 Section 2.1 Organization, Etc 8 3 Section 2.2 Capitalization 8 3 Section 2.3 Authority Relative to this Agreement 9 3 Section 2.4 Consents and Approvals; No Violations 9 4 Section 2.5 Financial Statements 9 4 Section 2.6 No Undisclosed Liabilities; Discharge of Obligations 10 4 Section 2.7 Absence of Certain Changes 10 Section 2.8 Compliance with Law 11 4 Section 2.8 Material Contracts 5 Section 2.9 Material Contracts 11 Litigation 5 Section 2.10 Permits 12 Taxes 5 Section 2.11 Litigation 12 Section 2.12 Taxes 12 Section 2.13 Owned and Leased Properties; Sufficiency of Assets 14 Properties 6 Section 2.14 2.12 Intellectual Property; Personal Information 17 7 Section 2.13 Insurance 7 Section 2.14 Environmental Laws 7 Section 2.15 Insurance 19 Section 2.16 Environmental Matters 19 Section 2.17 Employee and Labor Matters 21 8 Section 2.18 2.16 Employee Plans 21 8 Section 2.19 2.17 Brokers and Finders 23 9 Section 2.20 Member Vote Required 23 Section 2.21 2.18 Absence of Questionable Payments 23 9 Section 2.22 2.19 Books and Records 24 10 Section 2.23 2.20 Bank Accounts; Powers of Attorney 24 10 Section 2.24 Customers and Suppliers 24 Section 2.25 Accounts Receivable 24 Section 2.26 Accounts Payable 24 Section 2.27 2.21 Certain Transactions 24 10 ARTICLE III REPRESENTATIONS AND WARRANTIES OF THE MEMBER 10 Section 2.28 3.1 Ownership of Membership Interests 10 Section 3.2 Authority Relative to this Agreement 11 Section 3.3 Consents and Approvals; No Other Representations Violations 11 Section 3.4 Litigation 11 Section 3.5 Brokers and Warranties. 25 Section 2.29 Disclosure 25Finders 11