SHARE EXCHANGE AGREEMENT
THIS
SHARE EXCHANGE AGREEMENT, dated as of the 3rd day of March, 2009 (the “Agreement”), by and
among SRKP 21, Inc., a Delaware corporation (the “Company”); Attainment
Holdings Limited, a British Virgin Islands corporation (“Attainment”) and
Excel Profit Global Group Limited, a British Virgin Islands corporation (“EPGG”); and, as to
Sections 4.2 and Articles X only, each of the designees listed on Schedule I
hereto (the “Designees”). The
Company, Attainment and EPGG are collectively referred to herein as the “Parties”.
WITNESSETH:
WHEREAS,
EPGG owns all of the issued and outstanding shares of the capital of Attainment;
which is the 100% parent of Luck Loyal International Investment Limited, a Hong
Kong corporation (“LLIIL”); which is the
100% parent of Shenzhen Yue Xxxx Xxxxx Motor Co., Ltd., a company organized
under the laws of the People’s Republic of China (the “SYPCM”).
WHEREAS,
the Company desires to acquire from EPGG, and EPGG desires to sell to the
Company, all of the issued and outstanding capital shares of Attainment (the
“Attainment
Shares”) in exchange for the issuance by the Company of an aggregate of
17,029,630 shares (the “Company Shares”) of
the Company’s common stock, $0.0001 par value (“Common Stock”) to the
EPGG and/or Designees on the terms and conditions set forth herein (the “Exchange”).
WHEREAS,
after giving effect to the Exchange, the Share and Warrant Cancellation, and
Equity Financing, as described herein, there will be approximately 25,035,556
shares of Company Common Stock and 964,444 warrants to purchase shares of
Company Common Stock issued and outstanding.
WHEREAS,
the Parties intend, by executing this Agreement, to implement a tax-deferred
exchange of property governed by Xxxxxxx 000 xx xxx Xxxxxx Xxxxxx Internal
Revenue Code of 1986, as amended (the “Code”).
NOW,
THEREFORE, in consideration, of the promises and of the mutual representations,
warranties and agreements set forth herein, the Parties hereto agree as
follows:
ARTICLE
I
THE
EXCHANGE
1.1 The
Exchange. Subject to the terms and conditions of this
Agreement, on the Closing Date (as hereinafter defined):
(a) the
Company shall issue and deliver to EPGG and the Designees the number of
authorized but unissued shares of Company Common Stock set forth opposite EPGG’s
and each of the Designees’ names set forth on Schedule I hereto or
pursuant to separate instructions to be delivered prior to Closing,
and
(b) EPGG
agrees to deliver to the Company duly endorsed certificates representing the
Attainment Shares.
- i
-
1.2 Time and Place of
Closing. The closing of the transactions contemplated hereby
(the “Closing”)
shall take place at the offices of K&L Gates LLP, or at such place and time
as mutually agreed upon by the Parties hereto. The date upon which
the Closing occurs is defined as the “Closing
Date.”
1.3 Effective
Time. The Exchange shall become effective (the “Effective Time”) at
such time as all of the conditions to set forth in Article VII hereof
have been satisfied or waived by the Parties hereto.
1.4 Tax
Consequences. It is intended by the Parties hereto that for
United States income tax purposes, the contribution and transfer of the
Attainment Shares by EPGG to the Company in exchange for Company Shares
constitutes a tax-deferred exchange within the meaning of Section 351 of the
Code.
ARTICLE
II
REPRESENTATIONS
AND WARRANTIES OF THE COMPANY
The
Company represents and warrants to Attainment and EPGG that now and/or as of the
Closing:
2.1 Due
Organization and Qualification; Due Authorization.
(a) The
Company is a corporation duly incorporated, validly existing and in good
standing under the laws of the State of Delaware, with full corporate power and
authority to own, lease and operate its respective business and properties and
to carry on its business in the places and in the manner as presently conducted
or proposed to be conducted. The Company is in good standing as a
foreign corporation in each jurisdiction in which the properties owned, leased
or operated, or the business conducted, by it requires such qualification except
for any such failure, which when taken together with all other failures, is not
likely to have a material adverse effect on the business of the
Company.
(b) The
Company does not own, directly or indirectly, any capital stock, equity or
interest in any corporation, firm, partnership, joint venture or other
entity.
(c) The
Company has all requisite corporate power and authority to execute and deliver
this Agreement, and to consummate the transactions contemplated hereby and
thereby. The Company has taken all corporate action necessary for the
execution and delivery of this Agreement and the consummation of the
transactions contemplated hereby, and this Agreement constitutes the valid and
binding obligation of the Company, enforceable against the Company in accordance
with its terms, except as may be affected by bankruptcy, insolvency, moratoria
or other similar laws affecting the enforcement of creditors’ rights generally
and subject to the qualification that the availability of equitable remedies is
subject to the discretion of the court before which any proceeding therefore may
be brought, equitable remedies is subject to the discretion of the court before
which any proceeding therefore may be brought.
- ii
-
2.2 No Conflicts or
Defaults. The execution and delivery of this Agreement by the
Company and the consummation of the transactions contemplated hereby do not and
shall not (a) contravene the Certificate of Incorporation or By-laws of the
Company or (b) with or without the giving of notice or the passage of time (i)
violate, conflict with, or result in a breach of, or a default or loss of rights
under, any material covenant, agreement, mortgage, indenture, lease, instrument,
permit or license to which the Company is a party or by which the Company is
bound, or any judgment, order or decree, or any law, rule or regulation to which
the Company is subject, (ii) result in the creation of, or give any party the
right to create, any lien, charge, encumbrance or any other right or adverse
interest (“Liens”) upon any of
the assets of the Company, (iii) terminate or give any party the right to
terminate, amend, abandon or refuse to perform, any material agreement,
arrangement or commitment to which the Company is a party or by which the
Company’s assets are bound, or (iv) accelerate or modify, or give any party the
right to accelerate or modify, the time within which, or the terms under which,
the Company is to perform any duties or obligations or receive any rights or
benefits under any material agreement, arrangement or commitment to which it is
a party.
2.3 Capitalization. The
authorized capital stock of the Company immediately prior to giving effect to
the transactions contemplated hereby consists of 110,000,000 shares of which
100,000,000 have been designated as Company Common Stock and 10,000,000 shares
have been designated as preferred stock, $0.0001 par value (“Preferred
Stock”). As of the date hereof, there are 7,096,390 shares of
Company Common Stock issued and outstanding, no shares of Preferred Stock
outstanding, and 7,096,390 warrants outstanding with an exercise price of
$0.0001 (the “Warrants”). All of
the outstanding shares of Company Common Stock are, and the Company Shares when
issued in accordance with the terms hereof, will be, duly authorized, validly
issued, fully paid and nonassessable, and have not been or, with respect to the
Company Shares will not be issued in violation of any preemptive right of
stockholders. Other than as set forth in this Agreement, there is no
outstanding voting trust agreement or other contract, agreement, arrangement,
option, warrant, call, commitment or other right of any character obligating or
entitling the Company to issue, sell, redeem or repurchase any of its
securities, and there is no outstanding security of any kind convertible into or
exchangeable for Company Common Stock. The Company has not granted registration
rights to any person.
2.4 Financial
Statements. The Company has provided Attainment and EPGG
copies of the (i) balance sheet of the Company at December 31, 2007, and the
related statements of operations, stockholders’ equity (deficit) and cash flows
for the period from October 11, 2007 (inception) to December 31, 2007, including
the notes thereto, as audited by AJ. Xxxxxxx, PC, independent registered public
accounting firm and (ii) balance sheet of the Company at September 30, 2008, and
the related statements of operations, and cash flows for the nine month period
then ended (the “Financial
Statements”). The Financial Statements, together with the
notes thereto, have been prepared in accordance with U.S. generally accepted
accounting principles applied on a basis consistent throughout all periods
presented. The Financial Statements present fairly the financial
position of the Company as of the dates and for the periods
indicated. The books of account and other financial records of the
Company have been maintained in accordance with good business
practices.
2.5 No Assets or
Liabilities. As of the Closing, the Company shall have no more
than $50,000 in liabilities. Except for the foregoing or as set forth
on the Financial Statements, the Company does not have any (a) assets of any
kind or (b) liabilities or obligations, whether secured or unsecured, accrued,
determined, absolute or contingent, asserted or unasserted or
otherwise.
- iii
-
2.6 Taxes. The
Company has filed all United States federal, state, county and local returns and
reports which were required to be filed on or prior to the date hereof in
respect of all income, withholding, franchise, payroll, excise, property, sales,
use, value-added or other taxes or levies, imposts, duties, license and
registration fees, charges, assessments or withholdings of any nature whatsoever
(together, “Taxes”), and has paid
all Taxes (and any related penalties, fines and interest) which have become due
pursuant to such returns or reports or pursuant to any assessment which has
become payable, or, to the extent its liability for any Taxes (and any related
penalties, fines and interest) has not been fully discharged, the same have been
properly reflected as a liability on the books and records of the Company and
adequate reserves therefore have been established.
2.7 Indebtedness; Contracts; No
Defaults. Other than as set forth in Item 2.7 of the
Disclosure Schedule or as described in the Financial Statements, the Company has
no material instruments, agreements, indentures, mortgages, guarantees, notes,
commitments, accommodations, letters of credit or other arrangements or
understandings, whether written or oral, to which the Company is a
party.
2.8 Real
Property. The Company does not own or lease any real
property.
2.9 Compliance with
Law. The Company is in compliance with all applicable federal,
state, local and foreign laws and regulations relating to the protection of the
environment and human health. There are no claims, notices, actions,
suits, hearings, investigations, inquiries or proceedings pending or, to the
knowledge of the Company, threatened against the Company that are based on or
related to any environmental matters or the failure to have any required
environmental permits, and there are no past or present conditions that the
Company has reason to believe are likely to give rise to any material liability
or other obligations of the Company under any environmental laws.
2.10 Permits and
Licenses. The Company has all certificates of occupancy,
rights, permits, certificates, licenses, franchises, approvals and other
authorizations as are reasonably necessary to conduct its respective business
and to own, lease, use, operate and occupy its assets, at the places and in the
manner now conducted and operated, except those the absence of which would not
materially adversely affect its respective business.
2.11 Litigation. There
is no claim, dispute, action, suit, proceeding or investigation pending or, to
the knowledge of the Company, threatened, against or affecting the business of
the Company, or challenging the validity or propriety of the transactions
contemplated by this Agreement, at law or in equity or admiralty or before any
federal, state, local, foreign or other governmental authority, board, agency,
commission or instrumentality, nor to the knowledge of the Company, has any such
claim, dispute, action, suit, proceeding or investigation been pending or
threatened, during the twelve month period preceding the date
hereof. There is no outstanding judgment, order, writ, ruling,
injunction, stipulation or decree of any court, arbitrator or federal, state,
local, foreign or other governmental authority, board, agency, commission or
instrumentality, against or materially affecting the business of the
Company. The Company has not received any written or verbal inquiry
from any federal, state, local, foreign or other governmental authority, board,
agency, commission or instrumentality concerning the possible violation of any
law, rule or regulation or any matter disclosed in respect of its
business.
- iv
-
2.12 Insurance. The
Company does not currently maintain any form of insurance.
2.13 Patents; Trademarks and
Intellectual Property Rights. The Company does not own or
possess any patents, trademarks, service marks, trade names, copyrights, trade
secrets, licenses, information, Internet web site(s) or proprietary rights of
any nature.
2.14 Securities Law
Compliance. The Company has complied with all of the
applicable requirements of the Securities Exchange Act of 1934, as amended (the
“Exchange Act”)
and the Securities Act of 1933, as amended (the “Securities Act”), and
has complied with all applicable blue sky laws.
2.15 Conflicts of
Interest. The Company acknowledges that it is aware and
understands the facts and circumstances of the Conflicts of Interest, as defined
in Section 3.7,
that may, individually and in the aggregate, create a Conflict of
Interest. The Company hereby waives each and all of the Conflicts of
Interest, in addition to any other conflicts of interest that may arise may
exist or arise by virtue of the Conflicts of Interest and acknowledges that it
has carefully read this Agreement, that it is consistent with the terms
previously negotiated by the parties, and understands that it is free at any
time to obtain independent counsel for further guidance.
ARTICLE
III
REPRESENTATIONS
AND WARRANTIES OF ATTAINMENT
Attainment
represents and warrants to the Company that now and/or as of the
Closing:
3.1 Due Organization and
Qualification; Due Authorization.
(a) Attainment
is a corporation duly incorporated, validly existing and in good standing under
the laws of the British Virgin Islands, with full corporate power and authority
to own, lease and operate its business and properties and to carry on its
business in the places and in the manner as presently conducted or proposed to
be conducted. Attainment is in good standing as a foreign corporation
in each jurisdiction in which the properties owned, leased or operated, or the
business conducted, by it requires such qualification except for any such
failure, which when taken together with all other failures, is not likely to
have a material adverse effect on the business of Attainment.
(b) Attainment
does not have any subsidiaries other than those set forth in Item 3.1(b) of the
Disclosure Schedule (the “Subsidiaries”) and
Attainment does not own, directly or indirectly, any capital stock, equity or
interest in any corporation, firm, partnership, joint venture or other
entity. Other than as set forth in Item 3.1(b), each
Subsidiary is wholly owned by Attainment, free and clear of all liens, and there
is no contract, agreement, arrangement, option, warrant, call, commitment or
other right of any character obligating or entitling Attainment to issue, sell,
redeem or repurchase any of its securities, and there is no outstanding security
of any kind convertible into or exchangeable for securities of Attainment or any
of the Subsidiaries.
- v
-
(c) Attainment
has all requisite power and authority to execute and deliver this Agreement, and
to consummate the transactions contemplated hereby and
thereby. Attainment has taken all corporate action necessary for the
execution and delivery of this Agreement and the consummation of the
transactions contemplated hereby, and this Agreement constitutes the valid and
binding obligation of Attainment, enforceable against Attainment in accordance
with its terms, except as may be affected by bankruptcy, insolvency, moratoria
or other similar laws affecting the enforcement of creditors’ rights generally
and subject to the qualification that the availability of equitable remedies is
subject to the discretion of the court before which any proceeding therefore may
be brought.
3.2 No Conflicts or
Defaults. The execution and delivery of this Agreement by
Attainment and the consummation of the transactions contemplated hereby do not
and shall not (a) contravene the governing documents of Attainment or its
Subsidiaries, or (b) with or without the giving of notice or the passage of
time, (i) violate, conflict with, or result in a breach of, or a default or loss
of rights under, any material covenant, agreement, mortgage, indenture, lease,
instrument, permit or license to which Attainment or its Subsidiaries is a party
or by which Attainment or its Subsidiaries or any of their respective assets are
bound, or any judgment, order or decree, or any law, rule or regulation to which
their assets are subject, (ii) result in the creation of, or give any party the
right to create, any lien upon any of the assets of Attainment or its
Subsidiaries, (iii) terminate or give any party the right to terminate, amend,
abandon or refuse to perform any material agreement, arrangement or commitment
to which Attainment or any of its Subsidiaries is a party or by which Attainment
or any of its Subsidiaries or any of their respective assets are bound, or (iv)
accelerate or modify, or give any party the right to accelerate or modify, the
time within which, or the terms under which Attainment or any of its
Subsidiaries is to perform any duties or obligations or receive any rights or
benefits under any material agreement, arrangement or commitment to which it is
a party.
3.3 Capitalization. The
authorized capital stock of Attainment immediately prior to giving effect to the
transactions contemplated hereby consists of 50,000 ordinary shares, of which,
as of the date hereof, there were 50,000 shares issued and
outstanding. Except as set forth herein, all of the outstanding
shares of Attainment are duly authorized, validly issued, fully paid and
nonassessable, and have not been or, with respect to Attainment Shares, will not
be transferred in violation of any rights of third parties. The
Attainment Shares are not subject to any preemptive or subscription right, any
voting trust agreement or other contract, agreement, arrangement, option,
warrant, call, commitment or other right of any character obligating or
entitling Attainment to issue, sell, redeem or repurchase any of its securities
that will survive Closing and there is no outstanding security of any kind
convertible into or exchangeable for common shares. All of the
Attainment Shares are owned of record and beneficially by EPGG and free and
clear of any liens, claims, encumbrances, or restrictions of any
kind.
- vi
-
3.4 Taxes. Attainment
has filed all returns and reports which were required to be filed on or prior to
the date hereof, and has paid all Taxes (and any related penalties, fines and
interest) which have become due pursuant to such returns or reports or pursuant
to any assessment which has become payable, or, to the extent its liability for
any Taxes (and any related penalties, fines and interest) has not been fully
discharged, the same have been properly reflected as a liability on the books
and records of Attainment and adequate reserves therefore have been
established. All such returns and reports filed on or prior to the
date hereof have been properly prepared and are true, correct (and to the extent
such returns reflect judgments made by Attainment such judgments were reasonable
under the circumstances) and complete in all material respects. No
extension for the filing of any such return or report is currently in
effect. No tax return or tax return liability of Attainment has been
audited or, presently under audit. All taxes and any penalties, fines
and interest which have been asserted to be payable as a result of any audits
have been paid. Attainment has not given or been requested to give
waivers of any statute of limitations relating to the payment of any Taxes (or
any related penalties, fines and interest). There are no claims
pending for past due Taxes. All payments for withholding taxes,
unemployment insurance and other amounts required to be paid for periods prior
to the date hereof to any governmental authority in respect of employment
obligations of Attainment have been paid or shall be paid prior to the Closing
and have been duly provided for on the books and records of Attainment and in
the Attainment Financial Statements.
3.5 Indebtedness; Contracts; No
Defaults. Other than as set forth in Item 3.5 of the
Disclosure Schedule, neither Attainment nor any of its Subsidiaries have any
material instruments, agreements, indentures, mortgages, guarantees, notes,
commitments, accommodations, letters of credit or other arrangements or
understandings, whether written or oral, to which Attainment or any of its
Subsidiaries is a party.
3.6 Compliance with
Law. Except as specified in Item 3.6 of the
Disclosure Schedule, Attainment and its Subsidiaries are conducting their
respective businesses in material compliance with all applicable law, ordinance,
rule, regulation, court or administrative order, decree or process, or any
requirement of insurance carriers material to its business. Except as
specified in Item
3.6 of the Disclosure Schedule, neither Attainment nor any of its
Subsidiaries has received any notice of violation or claimed violation of any
such law, ordinance, rule, regulation, order, decree, process or
requirement.
3.7 Litigation.
(a) There
is no claim, dispute, action, suit, proceeding or investigation pending or
threatened, against or affecting Attainment or any of its Subsidiaries or
challenging the validity or propriety of the transactions contemplated by this
Agreement, at law or in equity or admiralty or before any federal, state, local,
foreign or other governmental authority, board, agency, commission or
instrumentality, has any such claim, dispute, action, suit, proceeding or
investigation been pending or threatened, during the 12-month period preceding
the date hereof, except as specified in Item 3.7 of the
Disclosure Schedule;
(b) there
is no outstanding judgment, order, writ, ruling, injunction, stipulation or
decree of any court, arbitrator or federal, state, local, foreign or other
governmental authority, board, agency, commission or instrumentality, against or
materially affecting Attainment or any of its Subsidiaries; and
(c) neither
Attainment nor any of its Subsidiaries has received any written or verbal
inquiry from any federal, state, local, foreign or other governmental authority,
board, agency, commission or instrumentality concerning the possible violation
of any law, rule or regulation or any matter disclosed in respect of its
business.
- vii
-
3.8 Conflict of
Interest. Attainment and its Subsidiaries each acknowledge
that it is aware and understands the following facts and circumstances that may,
individually and in the aggregate, create a conflict of interest:
(i)
WestPark Capital, Inc., a FINRA member (“WestPark”), is the
placement agent for the Equity Financing and WestPark will be paid a commission
of the gross proceeds from the Equity Financing for its services;
(ii)
Xxxxxxx Xxxxxxxxx, who is the founder, Chief Executive, and President and
indirectly holds a 100% interest in WestPark, is also the President, a Director
and a controlling stockholder of the Company beneficially holding approximately
40.0% of the Company’s Common Stock and Warrants (prior to the Share Exchange
and excluding shares and warrants held by WestPark Financial Services LLC as
described below);
(iii)
Xxxxxxx X. Xxxxxxxxxxxx, who is the President and Chief Financial Officer of
WestPark, is also the Secretary, Chief Financial Officer, and a Director and a
controlling stockholder of the Company beneficially holding approximately 18.2%
of the Company’s Common Stock and Warrants (prior to the Share
Exchange);
(iv)
Xxxxxx Xxxxxxxxxxxx is a noteholder of the WestPark Capital Financial Services,
LLC (“WestPark LLC”), one of our principal stockholders, and the parent of
WestPark, which entitles her to a 1.5% interest in the net profits of the parent
company of WestPark, and is also a controlling stockholder of the Company
beneficially holding approximately 28.9% of the Company’s outstanding Common
Stock and Warrants (prior to the Share Exchange);
(v) Xxxxx
XxXxxxxx, who is the Vice President of Corporate Finance of WestPark, is a
stockholder of the Company beneficially holding approximately 6.8% of the
Company’s Common Stock and Warrants (prior to the Share Exchange);
(vi)
Xxxxx Xxxxx, who is an employee of WestPark, is a stockholder of the Company
beneficially holding approximately 3.9% of the Company’s outstanding Common
Stock and Warrants (prior to the Share Exchange);
(vii)
Xxxxxx Xxxxxxx, who is a partner of K&L Gates LLP, legal counsel for EPGG,
was, prior to the date of this Agreement, a stockholder of the Company
beneficially holding approximately 6.8% of the Company’s outstanding Common
Stock and Warrants (prior to the Share Exchange). The securities previously held
by Xx. Xxxxxxx were transferred to an immediate family member and Xx. Xxxxxxx
currently disclaims beneficial ownership of such securities; and
(viii)
WestPark Financial Services LLC, which is the parent of WestPark and of which
Xxxxxxx Xxxxxxxxx serves as CEO and Chairman, is a controlling stockholder of
the Company beneficially holding approximately 56.2% of the Company’s Common
Stock and Warrants (prior to the Share Exchange) ((i) through (viii) in this
Section are herein referred to as, the “Conflicts of
Interest”).
- viii
-
Attainment
hereby waives each and all of the Conflicts of Interest, in addition to any
other conflicts of interest that may arise, may exist or arise by virtue of the
Conflicts of Interest and acknowledges that it has carefully read this
Agreement, that it is consistent with the terms previously negotiated by the
parties, and understands that it is free at any time to obtain independent
counsel for further guidance.
ARTICLE
IV
REPRESENTATION
AND WARRANTIES OF EPGG AND THE DESIGNEES
4.1 EPGG
Representations: EPGG hereby represents and warrants to the
Company that now and/or as of the Closing:
(a) Title to
Shares. EPGG is the legal and beneficial owner of the
Attainment Shares to be transferred to the Company as set forth opposite EPGG’s
name in Schedule
II hereto, and upon consummation of the exchange contemplated herein, the
Company will acquire from the EPGG good and marketable title to the Attainment
Shares, free and clear of all liens excepting only such restrictions hereunder
upon future transfers by the Company, if any, as may be imposed by applicable
law. The information set forth on Schedule II with
respect to the EPGG is accurate and complete.
(b) Due
Authorization. EPGG has all requisite power and authority to
execute and deliver this Agreement, and to consummate the transactions
contemplated hereby and thereby. This Agreement constitutes the valid
and binding obligation of EPGG, enforceable against EPGG in accordance with its
terms, except as may be affected by bankruptcy, insolvency, moratoria or other
similar laws affecting the enforcement of creditors’ rights generally and
subject to the qualification that the availability of equitable remedies is
subject to the discretion of the court before which any proceeding therefore may
be brought.
4.2 EPGG and Designee
Representations: EPGG and each of the Designees hereby
represent and warrant to the Company that now and/or as of the
Closing:
(a) Purchase for
Investment.
(i) EPGG
and each Designee is acquiring the Company Shares for investment for his, her or
its own account and not as a nominee or agent, and not with a view to the resale
or distribution of any part thereof, and neither EPGG nor any Designee has any
present intention of selling, granting any participation in, or otherwise
distributing the same. EPGG and each Designee further represents that
he, she or it does not have any contract, undertaking, agreement or arrangement
with any person to sell, transfer or grant participation to such person or to
any third person, with respect to any of the Company Shares.
(ii) EPGG
and each Designee understands that the Company Shares are not registered under
the Securities Act on the ground that the sale and the issuance of securities
hereunder is exempt from registration under the Securities Act pursuant to
Section 4(2) thereof, and that the Company’s reliance on such exemption is
predicated on EPGG’s and each Designee’s representations set forth
herein.
- ix
-
(b) Investment
Experience. EPGG and each Designee acknowledges that he, she
or it can bear the economic risk of his, her or its investment, and has such
knowledge and experience in financial and business matters that he, she or it is
capable of evaluating the merits and risks of the investment in the Company
Shares.
(c) Information. EPGG
and each Designee has carefully reviewed such information as such he, she or it
deemed necessary to evaluate an investment in the Company Shares. To
the full satisfaction of EPGG and each Designee, he, she or it has been
furnished all materials that he, she or it has requested relating to the Company
and the issuance of the Company Shares hereunder, and EPGG and each Designee has
been afforded the opportunity to ask questions of representatives of the Company
to obtain any information necessary to verify the accuracy of any
representations or information made or given to him, her or
it. Notwithstanding the foregoing, nothing herein shall derogate from
or otherwise modify the representations and warranties of the Company set forth
in this Agreement, on which EPGG has relied in making an exchange of the
Attainment Shares for the Company Shares.
(d) Restricted
Securities. EPGG and each Designee understands that the
Company Shares may not be sold, transferred, or otherwise disposed of without
registration under the Securities Act or an exemption there from, and that in
the absence of an effective registration statement covering the Company Shares
or any available exemption from registration under the Securities Act, the
Company Shares must be held indefinitely. EPGG and each Designee is
aware that the Company Shares may not be sold pursuant to Rule 144 promulgated
under the Securities Act unless all of the conditions of that Rule are
met. Among the conditions for use of Rule 144 may be the availability
of current information to the public about the Company.
(e) Exempt
Issuance. EPGG and each Designee acknowledges that he, she or
it must assure the Company that the offer and sale of the Company Shares to EPGG
and each Designee qualifies for an exemption from the registration requirements
imposed by the Securities Act and from applicable securities laws of any state
of the United States. EPGG and each Designee agrees that he, she or
it meets the criteria established in one or more of subsections (i) or (ii),
below.
(i) Accredited Investor, Section
4(2) of the Securities Act and/or Rule 506 of Regulation
D. EPGG or Designee qualifies as an “accredited investor”, as
that term is defined in Rule 501 of Regulation D, promulgated under the
Securities Act.
(ii) Offshore Investor, Rule 903
of Regulation S. EPGG or Designee is not a U.S. Person, as
defined in Rule 901 of Regulation S, promulgated under the Securities Act,
and EPGG and Designees, severally but not jointly, represents and warrants to
the Company that:
|
(1)
|
EPGG
or Designee is not acquiring the Company Shares as a result of, and EPGG
or Designee covenants that he will not engage in any “directed selling
efforts” (as defined in Regulation S under the Securities Act) in the
United States in respect of the Company Shares which would include any
activities undertaken for the purpose of, or that could reasonably be
expected to have the effect of, conditioning the market in the United
States for the resale of any of the Company
Shares;
|
- x
-
|
(2)
|
EPGG
or Designee is not acquiring the Company Shares for the account or benefit
of, directly or indirectly, any U.S.
Person;
|
|
(3)
|
EPGG
or Designee is a resident of Hong Kong or Canada or is incorporated or
organized in the British Virgin Islands or the Seychelles
Islands;
|
|
(4)
|
the
offer and the sale of the Company Shares to EPGG or Designee as
contemplated in this Agreement complies with or is exempt from the
applicable securities legislation of the British Virgin Islands, Canada,
Hong Kong and the Seychelles
Islands;
|
|
(5)
|
EPGG
or Designee is outside the United States when receiving and executing this
Agreement and that EPGG or Designee will be outside the United States when
acquiring the Company Shares,
|
|
(6)
|
and
EPGG and Designee covenants with Company
that:
|
|
a.
|
offers
and sales of any of the Company Shares prior to the expiration of a period
of one year after the date of original issuance of the Company Shares (the
six-month period hereinafter referred to as the “Distribution
Compliance Period”) shall only be made in compliance with the safe
harbor provisions set forth in Regulation S, pursuant to the registration
provisions of the Securities Act or an exemption therefrom, and that all
offers and sales after the Distribution Compliance Period shall be made
only in compliance with the registration provisions of the Securities Act
or an exemption therefrom and in each case only in accordance with
applicable state securities laws;
and
|
|
b.
|
EPGG
or Designee will not engage in hedging transactions with respect to the
Company Shares until after the expiration of the Distribution Compliance
Period.
|
- xi
-
(f) Conflict of
Interest. EPGG and each Designee acknowledges that he, she or
it is aware and understands the facts and circumstances of the Conflicts of
Interest, as defined in Section 3.8 that may,
individually and in the aggregate, create a conflict of
interest. EPGG and each Designee hereby waives each and all of the
Conflicts of Interest, in addition to any other conflicts of interest that may
arise may exist or arise by virtue of the Conflicts of Interest and acknowledges
that he, she or it has carefully read this Agreement, that it is consistent with
the terms previously negotiated by the Parties, and understands that he, she or
it is free at any time to obtain independent counsel for further
guidance.
ARTICLE
V
COVENANTS
5.1 Further
Assurances. Each of the Parties shall use its reasonable
commercial efforts to proceed promptly with the transactions contemplated
herein, to fulfill the conditions precedent for such party’s benefit or to cause
the same to be fulfilled and to execute such further documents and other papers
and perform such further acts as may be reasonably required or desirable to
carry out the provisions of this Agreement and to consummate the transactions
contemplated herein.
ARTICLE
VI
DELIVERIES
6.1 Items to be delivered to
EPGG prior to or at Closing by the Company.
(a)
Certificate of Incorporation and amendments thereto, By-laws and
amendments thereto, and certificate of good standing of the Company in
Delaware;
(b)
all applicable schedules hereto;
(c) all
minutes and resolutions of board of director and shareholder meetings in
possession of the Company;
(d) shareholder
list;
(e) all
financial statements and all tax returns in possession of the
Company;
(f) resolution
from the Company’s Board appointing the designees of EPGG to the Company’s Board
of Directors;
(g) resolution
from the Company’s Board, and if applicable, shareholder resolutions approving
this transaction and authorizing the issuances of the shares
hereto;
(h) letters
of resignation from the Company’s current officers and directors to be effective
upon Closing and after the appointments described in this section;
(i) certificates
representing the shares of the Company Shares issued in the denominations set
forth opposite the names of EPGG and/or the Designees on Schedule I to this
Agreement; and
- xii
-
(j) any
other document reasonably requested by EPGG that he deems necessary for the
consummation of this transaction.
6.2 Items to be delivered to the
Company prior to or at Closing by Attainment and EPGG.
(a) all
applicable schedules hereto;
(b) instructions
from EPGG appointing its designees to the Company’s Board of
Directors;
(c) share
certificates and duly executed instruments of transfer and bought and sold notes
from EPGG transferring the Attainment Shares to the Company;
(d) resolutions
from the Board of Directors of EPGG, if applicable, and shareholder resolutions
approving the transactions contemplated hereby
(e) payment
of all liabilities of the Company of up to $50,000 directly out of the proceeds
of the Equity Financing (as defined in Section 7.1(f) herein) to the appropriate
creditors of the company which shall include indebtedness owed to Company
shareholders and fees owing to Company lawyers, accountants and similar parties;
and
(f)
any other document reasonably requested by the Company that it deems
necessary for the consummation of this transaction.
ARTICLE
VII
CONDITIONS
PRECEDENT
7.1 Conditions Precedent to
Closing. The obligations of the Parties under this Agreement
shall be and are subject to fulfillment, prior to or at the Closing, of each of
the following conditions:
(a) That
each of the representations and warranties of the Parties contained herein shall
be true and correct at the time of the Closing Date as if such representations
and warranties were made at such time except for changes permitted or
contemplated by this Agreement;
(b)
That the Parties shall have performed or complied with all agreements,
terms and conditions required by this Agreement to be performed or complied with
by them prior to or at the time of the Closing;
(c) That
Attainment shall have received, and provided a copy to the Company, an opinion
of each of the Han Kun Law Offices, Attainment’s counsel in the
People’s Republic of China, and张, Attainment’s
counsel in the British Virgin Islands, substantially in the forms attached
hereto as Exhibits
A and B;
- xiii
-
(d) The
Company shall have cancelled 5,016,390 shares of Common Stock and 6,131,945
warrants owned by certain of the Company’s original stockholders (the “Share and Warrant
Cancellation”) as set forth on Schedule
III;
(e) That
prior to Closing the Company shall have engaged a public relations firm, which
shall conduct two (2) non-Share Exchange related road shows each year for two
(2) years, that is mutually acceptable to the Company and
Attainment;
(f) That
prior to Closing the Company shall have engaged a Company-sponsored equity
research firm that is mutually acceptable to the Company and Attainment;
and
(g) The
Company shall have concluded an equity financing of at least $8.0 million at the
time of Closing (the “Equity
Financing”).
7.2 Conditions to Obligations of
EPGG. The obligations of EPGG shall be subject to fulfillment
prior to or at the Closing, of each of the following conditions:
(a) The
Company shall have received all of the regulatory, shareholder and other third
party consents, permits, approvals and authorizations necessary to consummate
the transactions contemplated by this Agreement;
(b)
The Company shall have
complied with Rule 14(f)(1) of the Exchange Act, if required; and
(c) To
the extent that the liabilities of the Company exceed $50,000 as of the Closing,
the Company shareholders shall have satisfied and paid such excess liabilities
in full.
7.3 Conditions to Obligations of
the Company. The obligations of the Company shall be subject
to fulfillment at or prior to or at the Closing, of each of the following
conditions:
(a) Attainment
and EPGG shall have received all of the regulatory, shareholder and other third
party consents, permits, approvals and authorizations necessary to consummate
the transactions contemplated by this Agreement;
(b) EPGG
shall have delivered to the Company the share certificates and duly executed
instruments of transfer and bought and sold notes from EPGG transferring the
Attainment Shares to the Company; and
(c) All
liabilities of the Company up to $50,000 shall be paid directly out of the
proceeds of the Equity Financing to the appropriate creditors, which shall
include indebtedness owed to the Company shareholders and fees owing to lawyers,
accountants and similar parties.
ARTICLE
VIII
TERMINATION
8.1 Termination. This
Agreement may be terminated at any time before or, at Closing,
by:
- xiv
-
(a) The
mutual agreement of the Parties;
(b) Any
party if:
(i) Any
provision of this Agreement applicable to a party shall be materially untrue or
fail to be accomplished; or
(ii) Any
legal proceeding shall have been instituted or shall be imminently threatening
to delay, restrain or prevent the consummation of this Agreement;
(c) Upon
termination of this Agreement for any reason, in accordance with the terms and
conditions set forth in this paragraph, each said party shall bear all costs and
expenses as each party has incurred.
ARTICLE
IX
COVENANTS
SUBSEQUENT TO CLOSING
9.1 Registration
Rights. The Company shall file, within sixty (60) days after
the Closing and at its expense, with the U.S. Securities and Exchange Commission
(the “Commission”) a
registration statement (the “Initial Registration
Statement”) covering the resale of Common Shares held by those persons
(and/or their designees) that are shareholders of the Company immediately prior
to the Closing (“Pre-Existing
Shareholders”), provided however,
that the Company shall not be required to register the Common Stock held
by such shareholders who are affiliates of WestPark Capital, Inc. (“WestPark
Affiliates”), as specified in Item 9.1 of the
Disclosure Schedule, who shall instead receive registration rights to require
the Company to file a registration statement (the “Second Registration
Statement”) to register such Common Shares within ten (10) days following
the end of the six (6) month period that immediately follows the date on which
the Company files Initial Registration Statement with the
Commission. The Company shall enter into a Registration Rights
Agreement acceptable to the WestPark Affiliates with respect to rights described
in this Section
9.1. In the event the Second Registration Statement is not
timely filed to register the shares held by the WestPark Affiliates, or if the
Second Registration Statement is not timely declared effective by the
Commission, as described in the Registration Rights Agreement, the Company shall
issue to such holders penalty shares (the “Penalty Shares”)
equal to one percent (1%) of the shares on a monthly basis until the Second
Registration Statement is filed with or declared effective by the Commission, as
applicable. However, no Penalty Shares shall be due to the WestPark
Affiliates if the Company is using best efforts to cause the Second Registration
Statement to be filed and declared effective in a timely manner.
9.2 NYSE Alternext U.S.
Listing. The Company shall take reasonable efforts to cause
the Company’s securities to be listed on the NYSE Alternext U.S. as soon as
practicable after the Closing.
- xv
-
ARTICLE
X
MISCELLANEOUS
10.1 Survival of Representations,
Warranties and Agreements. Each of the Parties and each
Designee hereto is executing and carrying out the provisions of this Agreement
in reliance upon the representations, warranties and covenants and agreements
contained in this Agreement or at the closing of the transactions herein
provided for and not upon any investigation which it might have made or any
representations, warranty, agreement, promise or information, written or oral,
made by the other party or any other person other than as specifically set forth
herein. Except as specifically set forth in this Agreement,
representations and warranties and statements made by a party to in this
Agreement or in any document or certificate delivered pursuant hereto shall not
survive the Closing Date, and no claims made by virtue of such representations,
warranties, agreements and covenants shall be made or commenced by any party
hereto from and after the Closing Date.
10.2 Access to Books and
Records. During the course of this transaction through
Closing, each party agrees to make available for inspection all corporate books,
records and assets, and otherwise afford to each other and their respective
representatives, reasonable access to all documentation and other information
concerning the business, financial and legal conditions of each other for the
purpose of conducting a due diligence investigation thereof. Such due
diligence investigation shall be for the purpose of satisfying each party as to
the business, financial and legal condition of each other for the purpose of
determining the desirability of consummating the proposed
transaction. The Parties further agree to keep confidential and not
use for their own benefit, except in accordance with this Agreement any
information or documentation obtained in connection with any such
investigation.
10.3 Further
Assurances. If, at any time after the Closing, the Parties or
any Designee shall consider or be advised that any further deeds, assignments or
assurances in law or that any other things are necessary, desirable or proper to
complete the merger in accordance with the terms of this agreement or to vest,
perfect or confirm, of record or otherwise, the title to any property or rights
of the parties hereto, the Parties and Designees agree that their proper
officers and directors shall execute and deliver all such proper deeds,
assignments and assurances in law and do all things necessary, desirable or
proper to vest, perfect or confirm title to such property or rights and
otherwise to carry out the purpose of this Agreement, and that the proper
officers and directors of the parties or Designees are fully authorized to take
any and all such action.
10.4 Notice. All
communications, notices, requests, consents or demands given or required under
this Agreement shall be in writing and shall be deemed to have been duly given
when delivered to, or received by prepaid registered or certified mail or
recognized overnight courier addressed to, or upon receipt of a facsimile sent
to, the party for whom intended, as follows, or to such other address or
facsimile number as may be furnished by such party by notice in the manner
provided herein:
Attention:
If to
Attainment and EPGG:
Excel
Profit Global Group Limited
c/o
Shenzhen Yuepengcheng Motor Co., Ltd.
Sunna
Motor Industry Park,
Jian’an
Fuyong Hi-Tech Park, Baoan District
Shenzhen,
Guangdong, China
- xvi
-
Attention: Xxx
Xxxx
With
a copy to:
K&L
Gates LLP
00000
Xxxxx Xxxxxx Xxxx., Xxxxxxx Xxxxx
Xxx
Xxxxxxx, Xxxxxxxxxx 00000
Attn: Xxxxxx
X. Xxxxxxx, Esq.
Fax.:
(000) 000-0000
If
to the Company:
SRKP 21, Inc.
0000 Xxxxxx xx xxx Xxxxx, Xxxxx
000
Xxx Xxxxxxx, XX 00000
Attn: Xxxxxxx Xxxxxxxxx
Fax: (000) 000-0000
10.5 Entire
Agreement. This Agreement, the Disclosure Schedule and any
instruments and agreements to be executed pursuant to this Agreement, sets forth
the entire understanding of the Parties hereto with respect to its subject
matter, merges and supersedes all prior and contemporaneous understandings with
respect to its subject matter and may not be waived or modified, in whole or in
part, except by a writing signed by each of the Parties hereto. No
waiver of any provision of this Agreement in any instance shall be deemed to be
a waiver of the same or any other provision in any other
instance. Failure of any party to enforce any provision of this
Agreement shall not be construed as a waiver of its rights under such
provision.
10.6 Successors and
Assigns. This Agreement shall be binding upon, enforceable
against and inure to the benefit of, the parties and Designees hereto and their
respective heirs, administrators, executors, personal representatives,
successors and assigns, and nothing herein is intended to confer any right,
remedy or benefit upon any other person. This Agreement may not be
assigned by any party hereto except with the prior written consent of the other
parties, which consent shall not be unreasonably withheld.
10.7 Governing
Law. This Agreement shall in all respects be governed by and
construed in accordance with the laws of the State of Delaware are applicable to
agreements made and fully to be performed in such state, without giving effect
to conflicts of law principles.
10.8 Counterparts. This
Agreement may be executed in multiple counterparts, each of which shall be
deemed an original, but all of which together shall constitute one and the same
instrument.
10.9 Construction. Headings
contained in this Agreement are for convenience only and shall not be used in
the interpretation of this Agreement. References herein to Articles,
Sections and Exhibits are to the articles, sections and exhibits, respectively,
of this Agreement. The Disclosure Schedule is hereby incorporated
herein by reference and made a part of this Agreement. As used
herein, the singular includes the plural, and the masculine, feminine and neuter
gender each includes the others where the context so indicates.
- xvii
-
10.10 Severability. If
any provision of this Agreement is held to be invalid or unenforceable by a
court of competent jurisdiction, this Agreement shall be interpreted and
enforceable as if such provision were severed or limited, but only to the extent
necessary to render such provision and this Agreement enforceable.
[SIGNATURE PAGE FOLLOWS]
- xviii
-
IN
WITNESS WHEREOF, each of the parties hereto has executed this Agreement as of
the date first set forth above.
SRKP 21, INC. | ||||
By
|
/s/
Xxxxxxx Xxxxxxxxx
|
|||
Name:
Xxxxxxx Xxxxxxxxx
|
||||
Title:
President
|
||||
ATTAINMENT HOLDINGS LIMITED | ||||
By:
|
/s/
To Chao Sum
|
|||
Name:
|
To
Chao Sum
|
|||
Title:
|
||||
EXCEL PROFIT GLOBAL GROUP LIMITED | ||||
By:
|
/s/
Xx XxxxXxxx
|
|||
Name:
|
Xx
XxxxXxxx
|
|||
Title:
|
Director
of Board
|
|||
Solely
for purposes of Section 4.2 and
|
||||
Article X, XXXX
XXXX
|
||||
/s/
Xxxx Xxxx
|
||||
By: Xxxx
Xxxx
|
||||
Solely
for purposes of Section 4.2 and
|
||||
Article X, XXXXXX
XXXXX
|
||||
/s/
Xxxxxx Xxxxx
|
||||
By: Xxxxxx
Xxxxx
|
- xix
-
[SIGNATURE
PAGE CONTINUED ON NEXT PAGE]
Solely for purposes of Section 4.2
and
|
||
Article X, XXXX
XXX
|
||
/s/ Xxxx Xxx
|
||
By: Xxxx
Xxx
|
||
Solely for purposes of Section 4.2
and
|
||
Article X,
JOYRISE HOLDINGS LIMITED
|
||
/s/ ZhangYura Ming
|
||
By: Zhang
Yura Ming
|
||
Its:
|
||
Solely for purposes of Section 4.2
and
|
||
Article X, KEEN
DRAGON GROUP LIMITED
|
||
/s/ Xxxxx Xxxx Xxxx
|
||
By: Xxxxx
Xxxx Rong
|
||
Its:
|
||
Solely for purposes of Section 4.2
and
|
||
Article X,
GOLDWIDE HOLDINGS LIMITED
|
||
/s/ Xxxxx Xxxx Xxxx
|
||
By: Xxxxx
Xxxx Rong
|
||
Its:
|
||
Solely for purposes of Section 4.2
and
|
||
Article X,
RICHEVER LIMITED
|
||
/s/ Xxxxxxx Xx
|
||
By: Xxxxxxx
Xx
|
||
Its:
Director
|
- xx
-
EXHIBIT
A
FORM OF OPINION
LETTER
- xxi
-
SCHEDULE
I
SHAREHOLDERS AND COMPANY
SHARES
Name
|
Number of Company Shares
|
|||
Excel
Profit Global Group Limited
|
14,194,890 | |||
Xxxx
Xxxx
|
624,740 | |||
Keen
Dragon Group Limited
|
600,000 | |||
Joyrise
Holdings Limited
|
600,000 | |||
Xxxxxx
Xxxxx
|
600,000 | |||
Goldwide
Holdings Limited
|
200,000 | |||
Richever
Limited
|
110,000 | |||
Xxxx
Xxx
|
100,000 | |||
Total
|
17,029,630 |
- xxii
-
SCHEDULE
II
ATTAINMENT
SHARES
Name
|
Number of Attainment Shares
|
|||
Excel
Profit Global Group Ltd.
|
50,000 |
- xxiii
-
SCHEDULE
III
SHARES AND WARRANTS FOR
CANCELLATION
Name
|
Number of Shares
to be Cancelled
|
Number of Warrants
to be Cancelled
|
||||||
WestPark
Financial Services, LLC
|
1,960,907 | 2,396,978 | ||||||
Xxxxxxx
Xxxxxxxxx
|
802,621 | 981,109 | ||||||
Xxxxxx
Xxxxxxxxxxxx
|
706,893 | 864,094 | ||||||
The
Xxxxx Xxxxxxxxxxxx Trust dated 2/9/2000
|
70,689 | 86,409 | ||||||
The
Xxxxx X. Xxxxxxxx Trust dated 2/3/2000
|
70,689 | 86,409 | ||||||
Xxxxxxx
Xxxxxxxxxxxx
|
501,639 | 613,195 | ||||||
The
Xxxxxx Xxxxxxxxx Trust
|
225,738 | 275,938 | ||||||
The
Xxxxxx Xxxxxxxxx Trust
|
225,738 | 275,938 | ||||||
Xxxxxx
Xxxxxx
|
175,574 | 214,618 | ||||||
Xxxxx
XxXxxxxx
|
175,574 | 214,618 | ||||||
Xxxxx
Xxxxx
|
100,328 | 122,639 | ||||||
TOTAL
|
5,016,390 | 6,131,945 |
- xxiv
-
TABLE OF
CONTENTS
Page
|
||
ARTICLE
I THE EXCHANGE
|
i
|
|
1.1
|
The
Exchange
|
i
|
1.2
|
Time and Place of
Closing
|
ii
|
1.3
|
Effective
Time
|
ii
|
1.4
|
Tax
Consequences
|
ii
|
ARTICLE
II
|
ii
|
|
2.1
|
Due Organization and
Qualification; Due Authorization
|
ii
|
2.2
|
No Conflicts or
Defaults
|
ii
|
2.3
|
Capitalization
|
iii
|
2.4
|
Financial
Statements
|
iii
|
2.5
|
No Assets or
Liabilities
|
iii
|
2.6
|
Taxes
|
iv
|
2.7
|
Indebtedness;
Contracts; No Defaults
|
iv
|
2.8
|
Real
Property
|
iv
|
2.9
|
Compliance with
Law
|
iv
|
2.10
|
Permits and
Licenses
|
iv
|
2.11
|
Litigation
|
iv
|
2.12
|
Insurance
|
v
|
2.13
|
Patents; Trademarks
and Intellectual Property Rights
|
v
|
2.14
|
Securities Law
Compliance
|
v
|
2.15
|
Conflicts of
Interest
|
v
|
ARTICLE
III REPRESENTATIONS AND WARRANTIES OF ATTAINMENT
|
v
|
|
3.1
|
Due Organization and
Qualification; Due Authorization
|
v
|
3.2
|
No Conflicts or
Defaults
|
vi
|
3.3
|
Capitalization
|
vi
|
3.4
|
Taxes
|
vi
|
3.5
|
Indebtedness;
Contracts; No Defaults
|
vii
|
3.6
|
Compliance with
Law
|
vii
|
3.7
|
Litigation
|
vii
|
3.8
|
Conflict of
Interest
|
ix
|
ARTICLE
IV REPRESENTATION AND WARRANTIES OF EPGG AND DESIGNEES
|
ix
|
|
4.1
|
Title to
Shares
|
ix
|
4.2
|
Due
Authorization
|
ix
|
4.3
|
Purchase for
Investment
|
ix
|
4.4
|
Investment
Experience
|
x
|
4.5
|
Information
|
x
|
4.6
|
Restricted
Securities
|
x
|
4.7
|
Exempt
Issuance
|
x
|
4.8
|
Conflict of
Interest
|
xi
|
- xxv
-
ARTICLE
V COVENANTS
|
xii
|
|
5.1
|
Further
Assurances
|
xii
|
ARTICLE
VI DELIVERIES
|
xii
|
|
6.1
|
Items to be delivered
to EPGG prior to or at Closing by the Company
|
xii
|
6.2
|
Items to be delivered
to the Company prior to or at Closing by Attainment and
EPGG
|
xiii
|
ARTICLE
VII CONDITIONS PRECEDENT
|
xiii
|
|
7.1
|
Conditions Precedent
to Closing
|
xiii
|
7.2
|
Conditions to
Obligations of EPGG
|
xiv
|
7.3
|
Conditions to
Obligations of the Company
|
xiv
|
ARTICLE
VIII TERMINATION
|
xv
|
|
8.1
|
Termination
|
xv
|
ARTICLE
IX COVENANTS SUBSEQUENT TO CLOSING
|
xv
|
|
9.1
|
Registration
Rights
|
xv
|
9.2
|
NYSE Alternext U.S.
Listing
|
xv
|
ARTICLE
X MISCELLANEOUS
|
xv
|
|
10.1
|
Survival of
Representations, Warranties and Agreements
|
xv
|
10.2
|
Access to Books and
Records
|
xvi
|
10.3
|
Further
Assurances
|
xvi
|
10.4
|
Notice
|
xvi
|
10.5
|
Entire
Agreement
|
xvii
|
10.6
|
Successors and
Assigns
|
xvii
|
10.7
|
Governing
Law
|
xvii
|
10.8
|
Counterparts
|
xvii
|
10.9
|
Construction
|
xvii
|
10.10
|
Severability
|
xviii
|
- xxvi
-