REPRESENTATIONS AND WARRANTIES OF BUYER 27. 4.1 Status of Buyer 27 4.2 Authorization; No Conflicts 27 4.3 Litigation 28 4.4 Independent Investigation 28 4.5 Brokers and Commissions 28 Article 5 COVENANTS 29 5.1 Conduct of Business by Seller 29 5.2 Affirmative Covenants Relating to Seller 30 5.3 Consents and Closing Conditions 30 5.4 Access to Information 31 5.5 Confidentiality 32 5.6 Exclusivity 32 5.7 Maintenance of Books and Records 33 5.8 Update of Disclosure Schedules 33 5.9 Restrictive Covenants 33 5.10 Further Assurances 34 Article 6 TAX MATTERS 34 6.1 Proration of Taxes 34 6.2 Cooperation on Tax Matters 35 6.3 Tax Proceedings 36 Article 7 EMPLOYEE MATTERS 36 7.1 Employment of Transferred Employees 36 7.2 Third Party Rights; Amendments to Employee Plans 36 Article 8 BUYER’S CONDITIONS TO CLOSING 37 8.1 Representations and Warranties 37 8.2 Performance of Covenants 37 8.3 No Litigation 37 8.4 No Orders 37 8.5 Material Adverse Effect 37 8.6 Consents 37 8.7 Closing Documents 37 8.8 Financing 37 8.9 Audit Financials 37 Article 9 SELLER’S CONDITIONS TO CLOSING 38 9.1 Representations and Warranties 38 9.2 Performance of Covenants 38 9.3 No Litigation 38 9.4 No Orders 38 9.5 Closing Documents 38
REPRESENTATIONS AND WARRANTIES OF BUYER 27. Section 5.01 Organization of Buyer. 27
REPRESENTATIONS AND WARRANTIES OF BUYER 27. 4.1 Making of Representations and Warranties. 27 4.2 Organization, Standing and Authority 28 4.3 Capitalization 28 4.4 Corporate Power 28 4.5 Corporate Authority 28 4.6 Non-Contravention. 29 4.7 Articles of Incorporation; Bylaws 29 4.8 Compliance with Laws 29 4.9 Litigation. 30 4.10 SEC Documents; Financial Reports; and Regulatory Reports. 30 4.11 Absence of Certain Changes or Events 31 4.12 Tax Treatment 32 4.13 Employee Benefit Plans 32 4.14 Regulatory Capitalization 32 4.15 CRA, Anti-money Laundering and Customer Information Security 32 4.16 Brokers 33 4.17 Deposit Insurance 33 4.18 Sufficient Funds 33 4.19 Disclosure 33 ARTICLE V - COVENANTS RELATING TO CONDUCT OF BUSINESS 33 5.1 Company Forbearances 33 5.2 Buyer Forbearances 36 ARTICLE VI - ADDITIONAL AGREEMENTS 36 6.1 Reasonable Best Efforts 36 6.2 Shareholder Approval. 37 6.3 Registration Statement. 37 6.4 Press Releases 38 6.5 Access; Information. 38 6.6 No Solicitation. 39 6.7 Affiliate Agreements 42 6.8 Takeover Laws 42 6.9 Shares Listed 42
REPRESENTATIONS AND WARRANTIES OF BUYER 27. Section 4.1 Organization of Buyer 27 Section 4.2 Authority; No Conflict 27 Section 4.3 Proceedings 28 Section 4.4 Brokers or Finders 28 Section 4.5 Financing 28 Section 4.6 Investment Representation 28 ARTICLE 5. PRE-CLOSING COVENANTS 28 Section 5.1 Access and Investigation 29 Section 5.2 Conduct of Business 30 Section 5.3 Required Consents and Approvals; Separation of Contracts 33 Section 5.4 Notification 35 Section 5.5 No Negotiation 35 Section 5.6 Intercompany Arrangements 36 Section 5.7 Commercially Reasonable Efforts 36 Section 5.8 Replacement of Bonds, Letters of Credit and Guarantees 36 Section 5.9 Title Insurance, Zoning Reports and Surveys 36 Section 5.10 Hull 242 37 Section 5.11 Transferred Drilling Assets; Assumed Drilling Liabilities; Retained Assets; Retained Liabilities 37
REPRESENTATIONS AND WARRANTIES OF BUYER 27. 5.1 Organization 27 5.2 Due Authorization, Execution and Delivery; Enforceability 27 5.3 Governmental Approvals 28 5.4 No Conflicts 28 5.5 Sufficiency of Funds 28 5.6 Adequate Assurances Regarding Executory Contracts 28 5.7 Exclusive Representations and Warranties 28 5.8 No Outside Reliance 29
REPRESENTATIONS AND WARRANTIES OF BUYER 27. Section 5.1 Organization and Qualification 27 Section 5.2 Authority 27 Section 5.3 Consents and Approvals; No Violations 28 Section 5.4 Valid Issuance; Listing 28
REPRESENTATIONS AND WARRANTIES OF BUYER 27. 4.1 Organization; Authority 27 4.2 No Violation; Consents and Approvals. 28 4.3 Litigation 28 4.4 Financing 29 4.5 Acquisition of the Shares for Investment; Securities Act 29 4.6 Vote/Approval Required 29 4.7 Solvency 29 SURGERY CENTERS DIVISION 4.8 Investigation by Buyer 30 4.9 Brokers 30
REPRESENTATIONS AND WARRANTIES OF BUYER 27. 5.1 Organization and Good Standing 27 5.2 Authority; No Conflict 27 5.3 Investment Intent 27 5.4 Certain Proceedings 27 5.5 Buyer’s Investigation 27 5.6 Brokers or Finders 27
REPRESENTATIONS AND WARRANTIES OF BUYER 27. 5.1. Organization 27 5.2. Corporate Power and Authority 27 5.3. No Conflict 28 5.4. Consents 28 5.5. Brokers 28 5.6. Purchase for Investment 28 ARTICLE VI COVENANTS 29 6.1. Ongoing Management of the Company 29 6.2. Access to Information; Retention of Company Information 30 6.3. Cooperation 31 6.4. Exclusivity 31 6.5. Resignations 32 6.6. Confidentiality 32 6.7. Non-Compete 32 6.8. Further Assurances 33 6.9. Termination of Contracts 33 6.10. D&O Insurance 34 6.11. Release of Encumbrances 34 6.12. Notification of Events 34
REPRESENTATIONS AND WARRANTIES OF BUYER 27. Section 4.1 ORGANIZATION AND GOOD STANDING 27 Section 4.2 AUTHORITY; NO CONFLICT. 27 Section 4.3 INVESTMENT INTENT; ACCREDITED INVESTOR 28 Section 4.4 CERTAIN PROCEEDINGS 28 Section 4.5 NO BROKERS OR FINDERS 28 ARTICLE 5 ADDITIONAL AGREEMENTS 28 Section 5.1 RESTRICTIVE COVENANTS 28 Section 5.2 CERTAIN TAX MATTERS 29 Section 5.3 EMPLOYEE COMPENSATION AND BENEFITS 30 Section 5.4 RELEASE 31
