Common use of PURCHASE AND SALE 1 Clause in Contracts

PURCHASE AND SALE 1. SECTION 2.1. Purchase and Sale of the Shares 1 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 ARTICLE III THE CLOSING 5 SECTION 3.1. Closing Date 5 SECTION 3.2. Transactions to be Effected at the Closing 6 ARTICLE IV REPRESENTATIONS AND WARRANTIES OF THE SELLERS 7 ARTICLE V REPRESENTATIONS AND WARRANTIES OF GC, ASIA GC, GC NORTH AMERICA AND SATURN 10 SECTION 5.1. Organization and Standing 10 SECTION 5.2. Capital Stock and Share Capital of the Companies 10 SECTION 5.3. Subsidiaries 11 SECTION 5.4. Financial Statements 11 SECTION 5.5. Absence of Certain Changes 12 SECTION 5.6. Litigation 14 SECTION 5.7. Compliance with Applicable Laws 14 SECTION 5.8. Material Contracts 14 SECTION 5.9. Intellectual Property 15 SECTION 5.10. Benefit Plans 16 SECTION 5.11. Taxes 19 SECTION 5.12. Environmental Matters 20 SECTION 5.13. Insurance 21 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 6.5. Litigation 24 SECTION 6.6. Brokers and Intermediaries 24 SECTION 6.7. Investment Intent 24 SECTION 6.8. Investigation 24 SECTION 6.9. Funding 24

PURCHASE AND SALE 1. SECTION 2.1. Purchase and Sale of the Shares Purchased Interests 1 SECTION 2.2. Purchase and Sale of the Assets Section 2.2 Closing 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 ARTICLE III THE CLOSING 5 SECTION 3.1. Closing Date 5 SECTION 3.2. Section 2.3 Transactions to be Be Effected at the Closing 6 2 Section 2.4 Purchase Price Adjustment 4 Section 2.5 Withholding 7 ARTICLE IV III REPRESENTATIONS AND WARRANTIES OF THE SELLERS SELLER 7 ARTICLE V REPRESENTATIONS AND WARRANTIES OF GC, ASIA GC, GC NORTH AMERICA AND SATURN 10 SECTION 5.1. Section 3.1 Organization and Standing 10 SECTION 5.2. Capital Stock Existence 8 Section 3.2 Authority and Share Capital Enforceability 8 Section 3.3 Capitalization of the Companies Company; Title to Purchased Interests 8 Section 3.4 Company Subsidiaries 9 Section 3.5 Noncontravention 10 SECTION 5.3. Subsidiaries 11 SECTION 5.4. Section 3.6 Financial Statements 11 SECTION 5.5. 10 Section 3.7 Absence of Certain Undisclosed Liabilities 11 Section 3.8 Absence of Changes 12 SECTION 5.6. Litigation 14 SECTION 5.7. 11 Section 3.9 Proceedings and Orders 13 Section 3.10 Compliance with Applicable Laws 14 SECTION 5.8. Laws; Permits 13 Section 3.11 Material Contracts 14 SECTION 5.915 Section 3.12 Real and Personal Property 17 Section 3.13 Employee Benefits 18 Section 3.14 Labor and Employment Matters 20 Section 3.15 Environmental Matters 21 Section 3.16 Insurance 22 Section 3.17 Taxes. 22 Section 3.18 Intellectual Property 15 SECTION 5.10. Benefit Plans 16 SECTION 5.11. Taxes 19 SECTION 5.12. Environmental Matters 20 SECTION 5.13. Insurance 21 SECTION 5.14. 24 Section 3.19 Affiliate Transactions 27 Section 3.20 Major Customers and Suppliers 22 SECTION 5.15. Labor Matters 22 SECTION 5.16. Major Vendors 27 Section 3.21 Brokers 28 Section 3.22 Product Warranty 22 SECTION 5.17. Fairness Opinions 23 SECTION 5.18. Certain IPC Entity Guarantees Liability 28 Section 3.23 Accounts 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 6.5. Litigation 24 SECTION 6.6. Brokers and Intermediaries 24 SECTION 6.7. Investment Intent 24 SECTION 6.8. Investigation 24 SECTION 6.9. Funding 24Notes Receivable; Accounts Payable 28 Section 3.24 Inventory 29 Section 3.25 Disclaimer of Warranties 29

PURCHASE AND SALE 1. SECTION 2.1. Section 1.1 Agreement to Purchase and Sale of the Shares 1 SECTION 2.2. Purchase and Sale of the Sell 1 Section 1.2 Assets 2 SECTION 2.3. Determination Section 1.3 Excluded Assets 3 Section 1.4 Assumption of Closing Date Net Working Capital Amount Assumed Liabilities 3 Section 1.5 Excluded Liabilities 4 Section 1.6 Purchaser Designee 5 ARTICLE 2 SECTION 2.4. Adjustments 4 SECTION 2.5. PURCHASE PRICE; ADJUSTMENTS AND ALLOCATIONS 5 Section 2.1 Purchase Price 5 Section 2.2 Payment of Purchase Price 6 Section 2.3 Adjustment of Purchase Price 6 Section 2.4 Earnout Payments 8 Section 2.5 Allocation of Purchase Price 5 13 ARTICLE III THE CLOSING 5 SECTION 3.1. Closing Date 5 SECTION 3.2. Transactions to be Effected at the Closing 6 ARTICLE IV 3 REPRESENTATIONS AND WARRANTIES OF THE SELLERS 7 ARTICLE V REPRESENTATIONS COMPANIES AND WARRANTIES OF GC, ASIA GC, GC NORTH AMERICA AND SATURN 10 SECTION 5.1. THE OWNERS 13 Section 3.1 Organization 13 Section 3.2 Authorization 13 Section 3.3 Absence of Restrictions and Standing 10 SECTION 5.2. Capital Stock and Share Capital of the Companies 10 SECTION 5.3. Subsidiaries 11 SECTION 5.4. Conflicts 14 Section 3.4 Capitalization 14 Section 3.5 Title to Assets; Related Matters 15 Section 3.6 Financial Statements 11 SECTION 5.5. 15 Section 3.7 No Undisclosed Liabilities 16 Section 3.8 Absence of Certain Changes 12 SECTION 5.6. Litigation 14 SECTION 5.7. 16 Section 3.9 Legal Proceedings 16 Section 3.10 Compliance with Applicable Laws 14 SECTION 5.8. Material and Regulations 16 Section 3.11 Company Contracts 14 SECTION 5.9. 17 Section 3.12 Tax Returns; Taxes 19 Section 3.13 Employees 20 Section 3.14 Benefit Plans 20 Section 3.15 Insurance Policies 21 Section 3.16 Intellectual Property 15 SECTION 5.10. Benefit Plans 16 SECTION 5.11. Taxes 19 SECTION 5.12. Environmental Matters 20 SECTION 5.13. Insurance 21 SECTION 5.14. Major Customers Section 3.17 Transactions with Affiliates 23 Section 3.18 Merchant 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 Partner Relations 24 Section 3.19 Licenses and Obligations 23 Permits 24 Section 3.20 Ethical Practices 24 Section 3.21 Sensitive Data 24 Section 3.22 Brokers, Finders and Investment Bankers 24 Section 3.23 No Other Representations or Warranties 24 ARTICLE VI 4 REPRESENTATIONS AND WARRANTIES OF THE BUYER 23 SECTION 6.1. PURCHASER 25 Section 4.1 Organization 25 Section 4.2 Authorization 25 Section 4.3 Absence of Restrictions and Existence 23 SECTION 6.2. Authorization 23 SECTION 6.3. Consent Conflicts 25 ARTICLE 5 CERTAIN COVENANTS AND AGREEMENTS 25 Section 5.1 Non-Assigned Contracts 25 Section 5.2 Public Announcements 26 Section 5.3 Employees 27 Section 5.4 Transfer Taxes; Expenses 29 Section 5.5 Insurance 29 Section 5.6 Accounts Receivable and Filings 23 SECTION 6.4. Noncontravention 24 SECTION 6.5. Litigation 24 SECTION 6.6. Brokers Other Items 29 Section 5.7 Name Change 29 ARTICLE 6 CLOSING; CLOSING DELIVERIES 29 Section 6.1 Closing 29 Section 6.2 Closing Deliveries of the Companies and Intermediaries 24 SECTION 6.7. Investment Intent 24 SECTION 6.8. Investigation 24 SECTION 6.9. Funding 24the Owners 29 Section 6.3 Closing Deliveries of the Purchaser 31 ARTICLE 7 INDEMNIFICATION 31 Section 7.1 Indemnification Obligations of the Companies and the Owners 31 Section 7.2 Indemnification Obligations of the Purchaser 32 Section 7.3 Indemnification Procedure 32 Section 7.4 Survival 34 Section 7.5 Liability Limits 34 Section 7.6 Investigations 35 Section 7.7 Tax Treatment of Indemnification 35 Section 7.8 Exclusive Remedy 35

PURCHASE AND SALE 1. SECTION 2.1. Section 1.1 Purchase and Sale of the Shares 1 SECTION 2.2. Section 1.2 Assets 1 Section 1.3 Excluded Assets 3 Section 1.4 Effective Time 4 ARTICLE 2 PURCHASE PRICE 6 Section 2.1 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. Price 6 Section 2.2 Adjustment to Purchase Price 6 Section 2.3 Allocation of Purchase Price 5 7 Section 2.4 Earn-Out 7 ARTICLE III THE 3 POST-CLOSING 5 SECTION 3.1. CONSENTS 8 Section 3.1 Post-Closing Date 5 SECTION 3.2. Transactions to be Effected at the Closing 6 Consents 8 ARTICLE IV 4 REPRESENTATIONS AND WARRANTIES OF THE SELLERS 7 SELLER 9 Section 4.1 Existence and Qualification 9 Section 4.2 Power 9 Section 4.3 Authorization and Enforceability 9 Section 4.4 No 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 4.8 Environmental Matters 10 Section 4.9 Preferential Purchase Rights and Material Required Consents 10 Section 4.10 Litigation 10 Section 4.11 Bankruptcy 11 Section 4.12 Taxes 11 Section 4.13 Certain Disclaimers 11 ARTICLE V 5 REPRESENTATIONS AND WARRANTIES OF GCPURCHASER 12 Section 5.1 Existence 12 Section 5.2 Power 12 Section 5.3 Authorization and Enforceability 12 Section 5.4 No Conflicts 13 Section 5.5 Broker’s and Finder’s Fees 13 Section 5.6 Bankruptcy 13 Section 5.7 Financing 13 Section 5.8 Litigation 13 Section 5.9 Consents, ASIA GC, GC NORTH AMERICA AND SATURN 10 SECTION 5.1. Organization and Standing 10 SECTION 5.2. Capital Stock and Share Capital of the Companies 10 SECTION 5.3. Subsidiaries 11 SECTION 5.4. Financial Statements 11 SECTION 5.5. Absence of Certain Changes 12 SECTION 5.6. Litigation Approvals or Waivers 13 Section 5.10 Investment Intent 14 SECTION 5.7. Compliance with Applicable Laws Section 5.11 Independent Investigation 14 SECTION 5.8. Material Contracts 14 SECTION 5.9. Intellectual Property 15 SECTION 5.10. Benefit Plans 16 SECTION 5.11. Taxes 19 SECTION 5.12. Environmental Matters 20 SECTION 5.13. Insurance 21 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 6 COVENANTS OF THE BUYER 23 SECTION 6.1. Organization PARTIES 14 Section 6.1 Assumption of Obligations 14 Section 6.2 Retained Obligations 14 Section 6.3 Public Announcements 15 Section 6.4 Recording 15 Section 6.5 Records 15 Section 6.6 Replacement of Bonds, Letters of Credit and Existence 23 SECTION 6.2. Authorization 23 SECTION 6.3. Consent and Filings 23 SECTION 6.4. Noncontravention 24 SECTION 6.5. Litigation 24 SECTION 6.6. Brokers and Intermediaries 24 SECTION 6.7. Investment Intent 24 SECTION 6.8. Investigation 24 SECTION 6.9. Funding 24Guarantees 15 Section 6.7 Termination of Affiliate Contracts 16 Section 6.8 Further Assurances 16

PURCHASE AND SALE 1. SECTION 2.1. Section 1.1 Purchase and Sale of the Shares Membership Interests 1 SECTION 2.2. Purchase and Sale of the Assets 2 SECTION 2.3. Determination of Section 1.2 Earn Out 5 Section 1.3 Closing Date Net Working Capital Amount 2 SECTION 2.4. Adjustments 4 SECTION 2.5. Allocation of Purchase Price 5 7 ARTICLE III THE CLOSING 5 SECTION 3.1. Closing Date 5 SECTION 3.2. Transactions to be Effected at the Closing 6 ARTICLE IV II REPRESENTATIONS AND WARRANTIES OF THE SELLERS 7 ARTICLE V REPRESENTATIONS COMPANY AND WARRANTIES OF GCTHE MEMBERS 8 Section 2.1 Organization, ASIA GC, GC NORTH AMERICA AND SATURN 10 SECTION 5.1. Organization Etc 8 Section 2.2 Capitalization 8 Section 2.3 Authority Relative to this Agreement 9 Section 2.4 Consents and Standing 10 SECTION 5.2. Capital Stock and Share Capital of the Companies 10 SECTION 5.3. Subsidiaries 11 SECTION 5.4. Approvals; No Violations 9 Section 2.5 Financial Statements 11 SECTION 5.5. 9 Section 2.6 No Undisclosed Liabilities; Discharge of Obligations 10 Section 2.7 Absence of Certain Changes 12 SECTION 5.6. Litigation 14 SECTION 5.7. 10 Section 2.8 Compliance with Applicable Laws 14 SECTION 5.8. 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 5.9. Section 2.14 Intellectual Property 15 SECTION 5.10. Benefit Plans 16 SECTION 5.11. Taxes Property; Personal Information 17 Section 2.15 Insurance 19 SECTION 5.12. Section 2.16 Environmental Matters 20 SECTION 5.13. Insurance 19 Section 2.17 Employee and Labor Matters 21 SECTION 5.14. Major 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 22 SECTION 5.1524 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. 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 6.5. Litigation 24 SECTION 6.6. Brokers and Intermediaries 24 SECTION 6.7. Investment Intent 24 SECTION 6.8. Investigation 24 SECTION 6.9. Funding 2425 Section 2.29 Disclosure 25

PURCHASE AND SALE 1. SECTION 2.1. Section 1.1 Purchase and Sale of the Shares Membership Interests 1 SECTION 2.2. Purchase and Sale of the Assets 2 SECTION 2.3. Determination of Closing Date Net Section 1.2 Working Capital Amount Adjustment 2 SECTION 2.4. Adjustments 4 SECTION 2.5. Allocation of Purchase Price 5 Section 1.3 Closing 2 ARTICLE III THE CLOSING 5 SECTION 3.1. Closing Date 5 SECTION 3.2. Transactions to be Effected at the Closing 6 ARTICLE IV II REPRESENTATIONS AND WARRANTIES OF THE SELLERS 7 ARTICLE V REPRESENTATIONS COMPANY AND WARRANTIES OF GCTHE MEMBER 3 Section 2.1 Organization, ASIA GC, GC NORTH AMERICA AND SATURN 10 SECTION 5.1. Organization Etc 3 Section 2.2 Capitalization 3 Section 2.3 Authority Relative to this Agreement 3 Section 2.4 Consents and Standing 10 SECTION 5.2. Capital Stock and Share Capital of the Companies 10 SECTION 5.3. Subsidiaries 11 SECTION 5.4. Approvals; No Violations 4 Section 2.5 Financial Statements 11 SECTION 5.5. 4 Section 2.6 No Undisclosed Liabilities; Discharge of Obligations 4 Section 2.7 Compliance with Law 4 Section 2.8 Material Contracts 5 Section 2.9 Litigation 5 Section 2.10 Taxes 5 Section 2.11 Owned and Leased Properties 6 Section 2.12 Intellectual Property; Personal Information 7 Section 2.13 Insurance 7 Section 2.14 Environmental Laws 7 Section 2.15 Employee and Labor Matters 8 Section 2.16 Employee Plans 8 Section 2.17 Brokers and Finders 9 Section 2.18 Absence of Questionable Payments 9 Section 2.19 Books and Records 10 Section 2.20 Bank Accounts; Powers of Attorney 10 Section 2.21 Certain Changes 12 SECTION 5.6. Litigation 14 SECTION 5.7. Compliance with Applicable Laws 14 SECTION 5.8. Material Contracts 14 SECTION 5.9. Intellectual Property 15 SECTION 5.10. Benefit Plans 16 SECTION 5.11. Taxes 19 SECTION 5.12. Environmental Matters 20 SECTION 5.13. Insurance 21 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 Transactions 10 ARTICLE VI III REPRESENTATIONS AND WARRANTIES OF THE BUYER 23 SECTION 6.1. Organization MEMBER 10 Section 3.1 Ownership of Membership Interests 10 Section 3.2 Authority Relative to this Agreement 11 Section 3.3 Consents and Existence 23 SECTION 6.2. Authorization 23 SECTION 6.3. Consent and Filings 23 SECTION 6.4. Noncontravention 24 SECTION 6.5. Approvals; No Violations 11 Section 3.4 Litigation 24 SECTION 6.6. 11 Section 3.5 Brokers and Intermediaries 24 SECTION 6.7. Investment Intent 24 SECTION 6.8. Investigation 24 SECTION 6.9. Funding 24Finders 11