Contract
Exhibit 10.10
ASSET PURCHASE AGREEMENT This ! \ sset Purcha se , \ gre eme nt (t his " Agreement "), d ated as of December 19 1 1 \ 2022 , is entered into between, , \ nth ony Xxxxxx, a n incfo - idual residing in the State of Ca li forn i a, d . b . a . " .. - \ T TEC H SYST F l \ ( S" (" Seller "), an <l Focus L·ni, - e r xxx I nc . , a Nevada co rp o rari on (" Buyer ") . Capitafo : ed terms used in this . - \ gree menr have the meanings gi , ·en to s u ch te r ms herein, as such definitions arc identified by the c r oss - references set forth in Exhibit _ \ attached hereto . RECITALS WHEREAS , Xxxxxx is engaged in t h e business of pro \ ·iJing effic i enr and cosr - effect . iYe integrated ne r ,vork, sec urity , and mu l timedia design so lution s (the " Business ") ; and WHEREAS , Seller wishes to se ll and assign to B uyer, and uyer wis h es to purchase a nd assume from S xxxxx, s ubsrnntially all the assets, and certain s p ec i fied 1 . ia b il iries, of rhe Business, subject ru the terms and co nditi u n s set forth h ere in ; NOW, THEREFORE , in comiderntion of the mumal cm·cnants and agr ee ment s hereinafter set fo rth a nd for othe r goo d and valuable co n s id eration, the receipt and sufficiency of wh i c h arc here!), · acknowkdgcd, the parrit : s heret o agree as follows : ARTICLE I Pur c ha se and Sale Section 1 . 01 Purchase and Xxx e of Assets . Su b ject to the terms and conditions set forrh herein, art h e X x xxxxx, Se ll xx x xxxx se ll , com·cy, ass i gn, tra n sfer, and dc li \ ·er to B uyer, and Buyer shall purchase from Seller, all of Seller's r i ghc, tirk, and int e r es t in, t o, and w 1 dcr all of the tangible and intangible as sets, properties, and rights of every kind and n a t u r e and whc r eYc r located (or h er than the F . xclu<lcd . \ ssc ts ), ,vh . ic h rc . .: l ate to, o r arc u se d or h e ld fo r use in co nn ectjon with, the Business (co l kctin· l y, the " Xxxxxxx x x Assets "), including the fo ll o \ \ ·i . ng : (a) all c a s h and cas h equivalents ; (b) all accounts r ece ivable held b y Seller (" Accounts Re ce ivabl e "), which the buyer belieYes to amoum t o roughly S80,000 or murc (t his must exceed S80,000 upon pur c h ase); (c) a ll prof ess i o nal lic e nse s , including righr to rhe C - 7 co n rrncror li ce n se assigned ro the company; (d) all customer lists and corresponding clie nt relation s hips ; (e) trad e m a rk s, trade names, and br a nd name s associated wit h . \ T TEC f r S Y S TL::.i \ f S; (f) goo d w ill and mark e t rel ate d intangibl e assets related with rhc co mpany . \ T TFCH S Y S TEi \ lS ;
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(g) all i . i 1 Yc 11 tory, fmi s h e d goods, raw mate . ri a l s, ,v ork in pro xxxxx, p ackaging, st 1 pplie s, parts, an<l other inY entorics (" In ve nt ory' ') ; 1) all othe r , \ ssigned Contrac t s ( the " As s i g n e d C o ntr a ct s ") l i sted o n the Ass ign ed Contrac t s Exhibit attached h ereto . The rerm " Co ntr ac t s" means all contracts, lea ses, li ce n ses, in stru ment s, notes, commi tment s, undertakings , i ndentures, joint YCnturcs, and a ll othe r agreements, commitments, a nd lega ll y b i ndin g arrange m e nt s, ,vhcther written or ora l ; (i) all furniture, fo ;. turc s, equ i pme n t, ma chine r y, tools , \ ·c hicl es, office equip m ent, s uppli es, co mputer s, telephones, and ot h er t angible per xxxxx property (t he " T ang ib l e P erso n a l Pr o p e r ty ") ; 0 ) all prepaid expen s e s, credits, ad va n ce payments, claims, security, refunds, rights of re covery, ri g ht s of set - off, 1 ights of re cou pment , deposits, charges, su m s, and fees ( including any s u c h item relating to tl 1 x x xxxx nt of Taxes ) ; (k) all of Se ll e r 's 1i g ht s Lmd er warrantie s, ind emnities, and all si mil ar rights aga in st tlur<l parties to die extent relate d to an · Pur c h ased . \ ssets; 0 ) a ll ins urance ben efits, including tight s and proceeds, a ri s in g fr om or relating to the Rusinc!,S , the Pur c ha se d _ \ ss et s, or the . \ ssumed Liabi liti es ; (m) origi n a l s or, where not a, · ailablc , copies, of all book s and records, including books o f account, l edgers, and general, financial, and acco u nting record s, rn xxxxxxxx and eguip m c nt maintenance fi le s, c u stome r li s ts, c u sto m e r purcha si n g histories , price li s ts, distribution lists , s up plier lists , producrion d ata, qua xx xx co ntr o l record s and procedures, custome r comp laii 1 ts and xxxxx . ry files, research and development files , r ecords, and data ( including all corresponde n ce with a n y fcdernl , state, . lo ca l , or foreign gO \ ·crnmen t or p o liti c al su bdivi s i o n thereof , or any agcnc · or in s trum e ntality of suc h xxxx rnm ent or political s ubdivi s i o n , o r anr a rbi trator, court, or tribunal of competent j uri s di ctio n (co llc c r i, · xxx, " Xxxx rnm e nt a l A uth or i ty ")), s ale s ma xxxx al a n d records , strate g ic plan s and marketing , a n d p romotional su rYcy s, materia l , and re sea rch (" Boo k s a nd R eco rd s ") ; (n) a ll mean s all I n tellectual Pr ope rt y that i s o \ \ · xxx by Se ll e r an<l exclusively used i n connection wi th t he Busi n ess, i ncluding the Int ellectual Property re g i stratio n s ( the " Int e ll ectua l P ro p e r ty Asse t s ") . For pu rp oses of t hi s , - \ grce m ent : " Int e ll ec tu a l P ro p erty " mean s any and all of r h e follmving arising pursua n t to the J ,aws of any jur i sdiction throughout the w o rld : (a) trademarks , serY - icc marks , trad e name s, and sim ilar indi c i a of source of or i g in , a ll registrations and applications for re gis trar . xxx x x xxxxx, and the good, vill connecrc <l w i th the use of and svmbolizcd by the foregoi n g ; 0 ) ) copyrights and all registrntio n s and application s for regi str ati o n thereof ; (c) trade sec r ets and kn o w - h o w ; ( d ) patents a nd patent applicatio n s ; ( e ) int(· 1 · 1 u't dotn :: tin name rcgi , ; rrari ons : a nd ( t ) orhcr intt : Uccrual pr op< .: rt) · and n .: latcd propri etary ri g ht s ; and (o) a D good,v ill a nd the go in g concern , · aluc of t he Purcha s ed . \ ssets an<l the Bu s iness . 2
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S ec ti o n 1 . 0 2 Ex clud e d A s s e t s . l' \ orw ith sta ndin g the foregoi ng, the Purcha se d . \ sse t s s hall not include the asse t s, properties, and right s s pecificall y li s xxx on the Excl uded , \ ss ets Exhibit atta c hed herem ( collecrfrcly, the " Ex clud e d Asse t s ") . Sec ti o n 1 . 0 3 Ass um x x Xx x x x xxxx es . (a) S ubje ct to the terms and co nditi ons se t forth he rein, Bu ye x x xxxx assume and agree to p ay, p e r form, and di sc h arge only the following T . i a biliries of Se ller ( col k c civcl y, the " Ass um x x Xx a xxxxxx xx "), a nd n o o ther I . iabilitic s : · J . all xx xxx accounts payable o f Sdle r to third parti es in connection with the Bu si n cs!" that r e main unpaid and arc not delinqu e nt a s o f the Closi n g Date ; and u . a ll J . iabilities in r es pe cr of th e . \ ssig xxx Contrac t s but on ly to the ex t e nt that s uch Liabilitie s th ere under arc required to be performed after the C l os in g Dare, we r e in c urr ed in the ord i n ary course of bu s in ess, an d d o n o t relate to any failure co perform, improper performance , warranty , o r ot h er breach, d efau lt , or vi o lation b y Se ll e r o n o r pri o r to the Cl os in g . Q ) ) F or p urposes of this . \ gree ment , " Li ab iliti es" mean s liabilitie s, ob xx xx t io n s, or commionents of any natur e whatsoen : r , whet h er a sse rt e <l o r u na ssc rt e d, kn own o r unknown, ab solurc o r xxxxx n ge nt , acc ru e d o r unaccrued, matured or unmarure<l , or o th e rwi se . ( c ) ocwirhsran<ling a n y pro, · i sion i n thi s . \ g r ec ment ro the conmu)·, 13 u ycr s h a ll n ot assume anJ sha ll n or bc respo 11 siblt .: t o p a y, perform , or di chargc any T . iabiliric : - o f Seller nr any o f in : . \ ffi J iatcs of an y kind or narurc w h atsoeYer ot h er th a n the . \ ss um e d,i J abilitie s ( the· " Excl ud x x Xx a xxxxxx xx ") . F o r purpo ses of thi s . \ g r ee m e n t : ( i ) " Affi li a t e " of a P erson 1 n cans a ny other P e rson t h at directl y o r indi . rec d y, throu g h o n e o r m o re intermedi aries, co nr rols, i s conrrollcd b y, or is under com m o n contro l with, s u c h P e r son ; and ( ii ) the term " co ntr o l " ( including t h e term s " controlled b, · " an<l " und e r co mm o n conr . r o l wit h ") m ea n s the po ssess i o n , din : ctly or indirectly, of tl - w p o . wer to direct o r cause th e direction of the management and policies of a P erson, whether through rhc ow ner s hip of , · oring secu ri ties, h y con tr ac r , or othen , ; i : - e . S e c t ion 1 . 04 Pur chase Pr ice . The agg r ega te purchase p 1 ice for chc Purchased . \ ssets sha ll be . i 1 ( th e " P u rc h ase Pri ce "), p l u s t he a ss umption of the . \ ss umcd ] . i abilities, whi c h we belien· to be zero . Sec ti o n 1 . 0 5 All oca ti o n o f Pur c h ase P r i ce . Th e Pur c ha se Pric e and t h e . \ s : rn mcd I . iabi liti cs shall be allocan : d a m o n g the Pur c h ased . \ s ::: er s for al l pu 1 voses ( includin g Tax a nd financia l accou nrin g ) a :: s l w \ \ · n o n t he a ll oca cion sc h e dule attac h e d h erero ( the " All oca ti o n Sc h e dul e " ) . T h e . \ ll ocation S chedule s h a ll be prepared in accordance with Sec ti on 1060 of the lnr e rnal R e \ 'enue Co de of 1986 , as amrndcd . Bu yer and S xxxxx s h a ll file all returns, <l e cl ararions, r eports, infom 1 ation ffturns and statcmc· nr s . : rnd o th e r documents rel ating ro Taxes ( inclu<ling amended re tu rns an d cl a im s fo r refund ) (" Tax R et u r n s " ) in a mruu 1 er co n s i s renr with th e . \ !l oc ati o n Sc heduJ e . Sec t io n 1 . 0 6 W ithh o ldin g Tax . Bu yer s h a ll be entitled to d educt and \ \ ; th x x xx from r h e Purchase Price a ll Ta xes th a t Bu ye r ma y be re t 1 uired to deduct and \ \ ithhold under any prm · i s i o n o f Tax J . aw . . \ ll : - u c h \ \ ·irhhcld amounts s h a ll bt .: trcare d a s <lcliYer e <l to Sc : ller hereun<ler . 3
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Section 1 . 07 Third Party Consents . To the extent that Selle r 's rights under any Purchased . \ sset may not be assigned to Buyer without the consent of another Person which has not been obtained, this , \ grcemenc sha ll not constitute an agreement to assig n t he same if an attempted assignment would constinite a breach th ereof or be unla \ \ 'ful, and Seller, at its expe n se, sha ll use it s reasonable best efforts to obtain any such rcc 1 u irccl conscnt(s) as prompt l y as pos xxxx . If any such cc m sent shall not be obtained or if any attemp xxx assignment would be ineffectiYe or would impair Buyer's rights u nd e r rhc Purchased . \ sset in qu es ti on so that Buyer would not in effect acquire the benefit of a ll such rights, Selle r, t"o the maximum extent permitted by Law and the Purchased, \ ssct, sha ll act after the Closing as Xxxxx's agent in order to obtain for it the benefits thereunder a nd sha ll coopera t e, to the maxi . mum extent pcmuttcd by Law and the Purchased , \ sset, \ Vi . t h Buyer in any o ther reasonable arra n ge m ent designed to proYide such benefits t o Buyer . ARTICLE II Closing Section 2 . 01 Closing . Subject to the terms and conditions of this . \ greemcnt, the consummation of the n : ansacrions contemp l ated b y this . \ g re ement (the " Closing ") shall rake place rcm . orcly by exc xxx xx of documents and signatures (or their electronic counterpa r ts), after a ll of the conclirions to Closing set forth in this . \ grecmcnt arc either satisfied o r waiYed (other than conditions which , by t h eir nature, are to be sacisfic<l on the Closing Date), or a t such other tin 1 c or place or in such other manner as Seller and Xxxxx may mutually agree upon in writing . Th e date on \ \ ·hich the Closing is to occur is her ein referred to as the "Clos ing D a t e . " Section 2 . 0 2 Closing Deli xxxx xx es . (a) . \ r the Closi n g, Se ll e r shall deliYer t0 Buyer the following: 4 1. a bill of sale in form and substance satisfactory to Buyer (t h e " Bill o f Sale ") and duly executed by Se ll er, transforring the Tangible Personal Property included in the P urchased , \ ssecs co Huyer; u . an assignment and assumption agreement in form and substance satisfactory to Buyer (the " Ass i gnment and Assumption Ag re e m e nt ") and duly executed b · Seller, effecting the assignment to an<l assumption b \ " Buyer of the Pur chased . \ ssets and the Assumed J . i abilitics ; lll. the Emp lo yment . \ greement in the form of Exhibit [A] attached hereto (the "E mplo yme nt Agree ment ") and duly executed hr Se ller ; 1 \ ·. the No n - Compete a nd Non - Solicitatjon . \ greemeut in t h e form of Exhibit [BJ attac h ed hereto (the " Non - Compete Agree m e nt ") an<l duly executed by Seller; "· rax clearance cc 1 : tificarcs from the taxing aut h o ritie s i n the juri : d . iccions char impose Taxes on Seller or where Se ll e r h as a dut \ " to file Tax Returns in connection \ vith r h c transactions conremplared by this , \ gree 1 cnt a nd e \ ·idence of the payment in full or other satisfaction of any Taxes owed by Seller in those jurisdictions : and
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n . such or h er customary instruments of transfer or assumption, filing s , or docum e nt s , in form an<l substance rca so nabl r s atisfa c tory to Buyer, as ma y be r e quir e d to gin : effect ro t h e rrn n saccions contemp l are<lby this . \ greeme n t . 5 , • u. up o n closi n g of the asset pur c h ase agreement, a new entiry : \ T TEC H SYSTE [S LLC \ vill be formed to r eceiYe the as sets . The cncit : ,, - will n ·o t assume am· liability of t h e pre , · ious e nti ty . , \ ,rvhic h po i nt , the previou s so l p roprietor entit)' operati n g . as a DB . \ will n o long e r exist and th e company s hall as s ume no re s pon si bilin · or liabi li n · for t h e p reviou s company or work assoc i ated. · , 0)) . \ t rhcClosing, 13uycr shall deli, · er to Se ll er the follo \ \ 'ing : 1. th e Pur c ha se Price ; u. the . \ ssignment and . \ ss umption . \ xxxxxxxx xxx y executed by Xxx er; x. xxx Employment . \ gr ee menr du l y executed by Xxxx r ; 1 v. the on - Compete . \ grecment dul y executed by Xxx e r ; a nd , - . a ce rtificate of the Sec retary (o r equi,·aknt officer) of Buyer certifying as co (. \ ) rhc re so lution s of the board of dir ecto r s of Bu ye r , which a uthori z<.: the execu ti on, xxxxx:r · , and performance of du :; . \ gr ec ment nn<l rhc Xxxx x x ction D ocu ment am l rhc consummation of the transactions co ntemplated her e by a n d t h ereb · , and (13 ) the name s and s i g n atures of the officers of B u · cr authorized to s i g n rhis _ \ g reem c nr and the o th xx Xxxx sac ti o n D ocu ment s . ARTICL E III R e pr e sent a tion s a nd wa rr a ntie s o f Sell xx X xxxxx re p resents and warran ts ro Buyer that rhc state ment s contained in this . \ rticle I ll arc true a nd correct as of the d a r e h e re o f . Sec tion 3 . 01 Or g anization and Auth o ri ty o f S e ll e r . Seller has full p owe r and authority to enter int o thi s . \ grccmcnt and rhe orhcr Tra n s act . xxx X xxx ment ::; ro \ \ 'hich Sel ler is a p arry, to carry out it s ob li g ation s lwr eu n<l er a n<lthereund e r , an <l co consummate chc transactions co nt em plated h e r e b y and rh < .: r c by . The exec u ti o n and dcli, · cry b · Se ller of rhi s . \ g rccmcnr and an y other Transacti o n D oc um e nt ro which Se ll e r i s a xxxx y, the performance b y Se ller of it s o bli gatio n s hereunder a nd ther e under , and the co nsumm ario n by Se ller o f rJ 1 c transactions co nt em pl a t e d her xxx and thereby ha, c b ee n duly aurhori 7 . e d b y all requi s i te action o n t he pan of S xxxxx . Xxx x . \ gr ce m e nr a nd rhc Transaction Document s co nstitute l ega l , , · alid, a nd bi n ding obli ga cions of S clkr e xx xxxx able abr - iinsr Scl kr in accordance \ \ ' ith rheir re s pe ccin term s . S ec ti o n 3 . 0 2 N o Confli c t s or Co n se nt s. Th e exec uti o n. deli, · c1 - y, and pcrformnn ce br Se ll e r of thi s . \ gree m e nr and t he other T ra n saction Docume n t s ro which it i s n xxxx y, and the co nsummar jo n of th e transa c tion s co n t e mplat e d h e reby a nd thereby, <lo n ot and will n o r : ( a , ) · iolare o r co nflict with any
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pro, -- ision of any s ta t ute, l aw, ordinance, regulati o n, rule, c o de , constitution , treary, common l aw, o ther requirement , or rule of l aw of any Go,·ernmental . \ uchorit y ( coHecti, · xxx , " L aw ") or an · o rder , writ, judgment, injunction , de c re e, stipulation, determination , penalty, or award entered by o r w - ith an y Gon rn mental . \ uthori t y (" Governmenta l Order ") applicable to Seller, the Busines s, or th e Pur c hased . \ ssets ; (b) require the consent, noti c e, declaration, or filin g with or other action by any i . ndiYidual, cor p o rati o n, partners h ip , j o int Y c ntu r e, limired liability company, GoYernmcntal : \ uthorit y, uni n corporated organization, u 1 . 1 st , association, or other entity (" Per s on ") or ret 1 uire any permit, li cense, or G o Yernmenta l Order ; ( c ) Yiolate or conflict with , re x x x x in the acceleration o f , or c r eate in any party the right to accelerate , tenninate, m o dify , or cancel a n y Contract to whjch Se ller i s a party or by which Seller or the Bu s xxxx s i s bo u nd o r to whi c h any of the Purcha s ed . \ ss et s arc xx xx ect ( including an y Assigned Co nrract ) ; o r ( <l ) re su lt in the creation or impos i t ion of an x x xxxxx , claim, pledge, e qui ta ble intere st , lien , sec urity i ntere sr, re str iction of an y ki . n<l , or other encumbrance (" En c umbrance ") o n th e l'urcha se d . \ ssers . Section 3 . 03 Financial St a tement s . Co m pkte co pie s o f t h e financial statements co n s istin g of rhc ba l ance sheet of the Busine ss a s at Decemb e r 3 1 , 2021 , 2 020 and 20 1 9 , and the related sta t e ments of income an<l retained earnings, s hareh o lder s' ec 1 uity, and cash flow for xx x xx a r s rhcn ended (the " F i nan c i a l Stat e ments ") haYe b een dcfo ·e red to Buyer . T h e Xxxxx c ial Stateme nt s h an : be e n prepared in ac c o rdance with generally accepted accounting principle s in effect in the l i nite<x X xxxx s from xxx e to time, applied on a consistent ba s is through o ut the period im·oh - ed . The Financial State ment s fairl y p r esent in a ll material re s pe c t s th e financial condition of the Bu s in ess as o f the rc spec ciYc dates they were prepared and th e results of the o perati o ns o f the Bu s ine ss for t he p c ri o <l s indi cated . The balance shee t of th e Busine ss as D ecem ber 31 , 202 1 i s referred to h ere in as t h e " B x x x x ce Sh ee t " an<l the d are thereof a s the " Xxxxx x x Sh ee t Dat e" . Sect i o n 3 . 04 Undi s cl o s e d Liabiliti es . Se ller h as no Liabi . liti es w i th r es pe c t to th e Bu si ne ss , c : - ; cc pt ( a) those w h i c h arc adequately refl xx x x x x x re se n · c d against . in the B a lan c e Sh eer as of the Xx xxxx e S h ee r Dat e, an d (b) tho se which ha, ·e been incurred in th e or<li nar r course of busincs :; consistent with pa s t practi xx x xxxx the Ba l ance S h e et Date and \ \ ·hicl 1 arc not, indi, · iduall y o r in the aggrega t e , material in amou n t . S ec ti o n 3 . 0 5 Abs e nc e o f C e rt a in C han ges , Events, a nd Conditi o n s . Si nc e the Balance : S h ee t Date , an d orher than in the ordi nar y course of business consistent with pa st practic e, there has not been an x x xxx ge, e,·ent, condition, o r d c , ·clopmc nt that i s, or cou x x xxxxxxx xxx b e ex p ecte d to be, indiY i dually or in the aggre g ate, mat e ri a lly ad,·erse to : (a) the bu s ine ss . results of operatio ns, co n c lition ( fi n a n cia l or othcnvi se), or assets of the Bu s ine ss ; or )) the nluc of rhe Purch ased . \ ssets . Sec ti o n 3 . 06 A ss ign e d Co ntra c t s . Each . \ ss i g n ed Conu : act i s , ·a lid and bindin g o n Se ll er in accorda nce with it s term s and i s in full force a nd effecte . it h e r S ell er n or, to Se ll er's knowkJge, any other parry the r eto i s in breach of or d efou l t u nd er ( o r i s alleged t o be in breach of o r default u nJcr ) in any materia l re s p ec t , or ha s pr o, ·idc<l or rc cei , - cd any n o ti ce of any intention to termina te, an y Ass igned Cona : act . No e ,·cnt u r cin : umsrancc lia :; (Jt : cu . rn : d Lhar would consrirurc a n cn : nt of <lcfaulr un<lcr an , y \ ss igncd Co ntra ct or result in a termination thereof . Co mplete an<l correct co pi es of each , \ ssig n ed Co ntr act ( includin g aU modificati o n s, amendment s , a nd supplements thereto and ,, · ai,·ers th e r e u nder ) h a , ·e b ee n made arnilable to Buyer. Th e re arc n o mat e i:ial di s putc.:s pending or t hreat e n ed under any r \ ss igncd Co ntract. 6
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Section 3 . 07 Title to Purchased Assets . Seller has goo<l a n d valid title to all of the P urchased . \ sscts, free and clear of Encwn bra nccs . Section 3 . 08 Condition and Sufficiency of Assets . b \ ch i te m of Tangible Personal Propcrtr i s srructt u : a ll y sound, i s in gom 1 operating condition and repair , and is xxx xxxxx for the uses to which it is being put , and no item of T angible P e r so nal P roperty i s i n need of maintenance or t· epairs except for ordinary, routine mainrenance an d repairs t h at are not mat e rial in nature o r cost . The Purcha se d . - \ ssets arc s uffici e nt fo r the continued concluc r of the Business after the X x xxxxx in substantially the same manner as co ndu cted pri or r o the Closing a nd consriruce all of t he Lights, property , an d assets nccessru : y to conduct the Bu siness as currently conducte d . . i one of the Exclu<le<l Assets are materia l to the Bu siness . Section 3 . 09 Inventory . A ll In xxxxx x x, x x ether or not reflected in the Balance S heet , consis t s of a quality a nd qu a n tity u sa ble and sa l able in tl 1 c ordinary course o f busine ss consistent wit h past p rac xxxx, exce p t for obsole te , damaged, defective , or slow - mm - ing items t hat have been wr i tte n off or w ri tten d ow n to fair marker Yalue or for wh i ch adequate rese 1 Tes ha,·e been estab li shed . Section 3 . 10 Accounts Receivable . The . \ ccouncs R ccei \ 'able : (a) han : arisen from bona fide transact i ons entered into by Se l ler im·oh ; ng the sale of goo d s or the rendering of sen - ices in the ordinary c o ur se of busines s cons i stent with pa st practi ce ; and (b) co n sti tute on ly va lid , undi sp uted cla im s of Se ll er not xx xx ect to claims of scr - off or ot h er defenses or co un te rcl aims othe r than normal cash discount s accrued in t h e ordi n ary comse of business co n s i stent with p ast practice ; and (c) arc collectible in full witlun ni nety ( 90 ) dars after billin g . Section 3.11 Intellectual Property. (a) all I ntc ll ecmal Pr operty regi sa: ati o ns and ( ii ) all I ntell ecrua l Pr o pert y ag r eements tl1at arc materi a l tC> the conduct of the B usi n ess ( excluding s hrink - wrap , click - ,, - rap, or o ther si xxxxx agreem e nt s fo r co n unerciaUy arnilablc off - the - shelf soft ware ). 1 - '.xccpr as woul<l nor ha \ - e a [ \ fare ri al . \ c ke r se I ·'.ffect, Seller owns o r h as the ri ght to u se all lntclkc t ua1 P roperty . - \ sscts an d t h e lntcllcctual Prop e r ty lic ensed to Se ller und e r the In te ll ectua l Propeny agreements. l xcc pr a s ,vm1ld n or ha YCa materia l ach - ersc effect, xx Xxxxx r' s Knowledge: ( i ) rhc co mluct of the Business as cm rcntlY conducrcJ doc s nor in fringe, tnisa pp ropriatc , dilute or othe rwi se Yiolare the In tc ll ccrual Pro p erty of any person; a nd ( ii ) no person i s infringin g, misapp ro priating or ot hcn, · ise \ · i o IBtin g any lnr e llcctual P ro p er ty . \ sscrs . Not wirhsranding a nythin g co the contrary in thi s . \ greeme nt, t hi s Sectio n 3 .1 2 ( b ) constitutes the sole representation and wa.rranry of t he Seller under this . \ greem enr with r e \ ' - pcct to any actual or a !J cged infringement , mi sa ppropriarion or other , - i oln ti o n by S xxxxx of any Tnrellectual Property of any othe r person. Section 3 . 12 Lega l Proceedings ; Governmental Orders . There arc no claim , actions, causes of action, demands, law s uit s, arb i mnions, im 1 uir i es, audits , notices o , f · i o lati on, pro ceedi n gs, liri gatio n , c i tat i ons, su mmons , sub p oenas, or i . i 1 Y estigations of any naru 1 : e, whether at law or in e guir y ( collecLiYcly, " Actions ") pending or, to Selkr's kn O \ dc<lge, threate xxx aga insr or by Selle r : ( i ) relating to or affec tin g t h e Bu si n ess, t h e P urchased . \ ssets, or the . \ ss um c d Liabilitie s ; or (i i ) th a t challenge or 7
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seek to pre \ ·ent, enjoin, or othC' nvi se delay the transactions xxxxx mplat ed by r his . - \ grecmcnt . No event has occurred or circumstances exist chat may give rise ro, or sc rn : as a basis for, any such . \ crion . Seller is in compliance with all Governmental Orders against, relating to, or affecting the B mincss or the Purchased _, \ ssets . Section 3 . 13 C o mpliance with Laws . Seller is in comp xxxx xx w i th all Laws applicable to the co ndu ct of the Business as currently conducted or tl 1 e owners hip a n d use of the Purchased . \ sscrs . Section 3 . 14 T axes . r \ U Taxes due and ow in g by Se ller have been, or · will be, timely paid . No ex ten sions or wai, · ers of statutes of limitations have been give n or requested with respect to any Taxes of Seller . All Tax Returns with respect to the Business r ec . 1 uired to be filed by Seller for any tax periods prior to C lo sing ha ve b een, or will be, ti . mcly filed . Such Tax Returns are, or will be, true, complete, and correct in all respects . T he term "T axes " means all federal, s t ate, l ocal, foreign, a nd other income, gross receipts, sales, use, production, ad ,·alorem, tra n sfer, docu . n 1 entary, franchise, regi $ tration, profits, lic e n se, withholding, payroll, employment, unemp l oyment, excise, scYerancc, stamp, occupation, premium, property (real or personal), customs, dutie $ , or othe r taxes, fees, assessmcnrs, or charges of any kind whatsocn : r, together with any interest, additions, or penalties w i rh respect thereto . Section 3 . 15 Own Account . Thi : \ greemenr is made with the Selle r in reliance upon rhe Seller's representation to the Buyer, ,vhich by t h< .: Selle r 's execution of this . \ greement, the Seller hereb : · confirms, that the cash to be r eceived by the Seller as payment for the Purchase Price, will be acquired for i . i 1 Yestment for the Se ll er's own accou nt , not as a nominee or agent, and not ,, - ith a ,·iew to the re $ a l e or <listriburion of any part thereof, and that the Seller has n o present intention of selling, granting any participation in, or otherw i se distributing rhe same . I 3 y executing thi , s - \ grecmcnt, the Sc 11 er further represents that the Seller docs not presently ha \ 'C any contract, undertaking, agreement or auangemcnt with any person to sell, transfer or grant participations to such person or to any third person, \ \ , 1 . th n : specc to any of the cash . The Seller has not been formed for the specific pmposc of acquiring the cash . Section 3 . 16 Di s clo s ure oflnformation . The Seller has had an oppommity to discuss the Bu : ·cr's business, m anage ment , financial affairs an<l the terms and conditions of th e cash wir . h rhc Ru : ·cr's management and has ha<l an opportunir : · to re,·iew the Buyer's fa . cilitics . 8 Section 3 . 17 Full Di s clo s ure . No representation or y .; - arranty by Seller i . i 1 this . \ grecmcnt and no stat< .: mcnt contained in the Disclosure Schedub, to this . \ grecment or an : · certificate or ot h er document furnished or to be furnished to Buyer pursuant to this , \ grecmcnt contains any untrue statement of a material fact, or omits to srate a material fact necessary to make the statemcnrs contai . i 1 ed therein, in li gh t of the circ um stances in which they arc made, not misleading . ARTICLE VI Representations a nd warranties of Bu yer Buyer represents and warrants to Seller rhar the staremcnts contained in this . \ nick l \ ' arc rrue nn<l correct as of the .: <late h ereof .
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Section 4 . 01 Organizati o n and Authority of Bu ye r . Buyer is a corporation duly organized, Yalidly existi n g, and in good standing under the Laws of che Stare of Nenda . Xxxxx has full cor p orate power and aut xxxx xx to enter into this Agreement and the other Xxxx xx ction Documents to which Xxxxx is a xxxxx, to carry out it s obligations hereunder and thereunc . xxx , a nd to con sum mate the xxxx s ; ctions xxxxx mpla xxx h ere b y and thereby . Th e execution and deliver y by Buyer of rhis , \ gre ement and any other Xxxx saction Docum e nt t o which Buyer i s a party, the performance by B u yer of irs obliga ti ons hereunder and thereunder, and chc consummation by Xxxxx of the transaction s xxxxx mplated hereby a n<l thereby ha ve been dul y authot zed by all retiuisire corporate action on the part of Buyer . This , \ greemenr and th e Xxxx saction D oc uments co n stitute legal Ya lid and binding obligations of Buver c forccable agai n s t Buyer in accordance \ ,·ith th cir rcspccti, - term . ' ' Section 4 . 02 No Conflict s ; Consents . The execution, d diwry, and per formance by Buyer of thi s Agreement and the ot h e r Transaction Documents ro w h ich it i s a party, and the consummation o f the transactio n : , ; co nt emp lated hereby and thereby , do not and will not : (a) , · i o l ate o r con fli ct wich a n y prO \ ·is i on of the certificate of i . nco 171 oration, by - laws , or other organizational Jocumenrs of Bu yer ; 0 ) ) violate or conflict with any prO \ · i sio n of any J ,aw or Governme n t al Order applicable to Hu ycr ; or (c) require th e consent, notice, declaration , or filing wit h or other action by any P erson or require any permit , licen se, or GoYernmental Order . Section 4 . 03 Brokers . No broker, finder, or inn .: stmenc banker is entitled co a n y b r okerage, finder ' s, or other fee or comm i ssion in co n nection with rhe transactions contemplated by xxx x • \ grecmenr ot a ny ot her Transaction Document based upon arrangements made by or on behalf of B u ye r . Sectio n 4 . 04 Le ga l Pro cee dings . There arc no . - \ ctions pending or, co 13 uycr 's xx xxxx dge, tbn·arened against or by Xxxxx that cha ll enge or see k to pre,·enc, enjoin . or otl 1 < .: rwise delay the transactions contemplated by thi s, \ g reemcnt . >io cn : nt ha s occurred or circumstances exi st that may gi,·c rise to, or sCT - ve as a bas i s for, any s uch • \ ction . ARTICLE V Covenants Section 5 . 01 Confidentiality . From and afrer rhe C lo s ing, Seller shall, and shall ca us< . i : t s - \ ffi . liates to , xx xx , and x x rnll u s e i ts reasonable be s t efforts to came ics o r their respcctin : directors, officers, employe( : S, co n su ltants, counsel, accountants, an<l o tl 1 er age n ts (" R ep r ese ntati ves ") ro hold, in confidence anv and all i nformation, ,vhcthcr written or ora l , conce rni xx xx 1 c Busines s, excep t to t he extentt h at Sc licr ca n show char s uch information : (a) i s generally a ... - ailabk ro and known by the public through n o fault of Seller, any of it s . \ ffiliatcs, or th eir respecti, · e R ep r cscntatiYcs ; or (b) is l awfully actJuirecl b · Se ller , any of it - s \ ffiliatcs, or their rcspccti, ·e Represenrnti, - c s from and after the Closing from sou r ces which ar c n ot prohibited from disclosing such information b y a legal, conrracrua l , or fiduciary obligation . I f Sel l er or any of it s . - \ ffiliarc s o r their respecti,·c Rcpre senraciYcs arc compe ll ed to clisclo s c any information by Go,·ernmental Order or J . aw, Seller s hall promptly notify Buyer i n w r iting and s hall disclo se only ,hat pon . ion of such information which is legally rcc 1 uir cd t o be disclosed, p 1 YJ/ 1 ided Iha! Se ll xx x xxxx use reasonable best efforts to obtain as promptly as possible an appro pri ate protccti ... - e order o r xx x x x x easonable assw : a nce that co nfidential treatm ent \ Viii be accorded such in fo rm ation . Sec ti o n 5 . 02 Publi c Announcements . l . nle ss ot hen, · ise required by applicable T . a \ v, no parry to th i s . - \ gree m e nr s h a ll make any public announcements in respect of this . \ grce menr or the transactions 9
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contemplat e d hereb y wid 10 ut the pri o r written consent of the ot he r party ( \ \ · hi c h conse nt shall n ot be unrea so nably ,virhhcld o r dela y ed), and th e parti xx x xxxx cooperate as to the timing and co nt e nt s o f anysuc h announ ce m en t . Sec ti o n 5 . 0 3 Bulk S a le s L aws . The pa rties hereby wai, ·e co mplian c e wit h t h e provi si on s of a n bulk s ales , bulk xxxx sfe r , or s imilar J . aws of any jur i sdiction that may o th e rwis e be applicable wirh r es pec t to the sa le of a n y or a ll of the Purch ase d Assets to Bu ye r . r \ n y Liabilities arising out o f th e failur e of Se ller ro comply with the requirement s and pr o,· i s i o n s o f a ny bulk sa le s , xxxx transfer , or s imi l ar J . aw s of an y jurisdiction wh i c h wou ld n o t oth e rwi s e c o n s titute . \ s s xxxx Xxxx iliti es sha ll be tr e ated a s Excluded T . iab il itie s . S e ction 5 . 04 R ece i v abl es . From a n d aft er the C lo s in g, if Se ll e r or any of it s ; \ ffiliatcs recciYe s or collects a n y fund s re l ating to an y 1 \ cco unts Rece inbk or a n y other Pu rc ha se d . · \ sse t, Se ll er o r in ; Xxxx li ate s hall remit s u c h funds to Buyer within five ( 5 ) bu siness day s a ft er its r ece ipt th ereof . Fro m a n<l after the C l osi n g, i f Bu ye r o r i ts 1 \ ffi liatc recciYe s or co l lect s any fund s relating to any Fxcluckd : \ set, Bu ye r o r it s : \ ffilia te s h all remit any s uch funds to Se ller wit h in fo ·e ( 5 ) bu s iness days afte r i t : reccipt ther eof . S ec ti on 5 . 0 5 T ran s f e r T ax es . All sales, use, r egistn 1 tion, a nd o th e r s u c h Taxes and fe es (incl udin g a ny p e nalti es and intere st) in cu rr e d in connecti o n witl, thi s 1 - \ grcc m cnt and the other Xxxx xx cti o n Docum e nt s, i f any , s hall b e borne and pai<l by S xxxxx when due . Se ll xx x xxxx , at it s ow n ex p e n se, xxx xxx file any Tax Return or o tl 1 er d o cument with res pect t o s uch Taxes or fee s (a nd Xxxxx s hall coo p erate with re s pect there to as ne cessary) . Sec ti o n 5 . 06 F u r th e r Ass u ra n ces . F o llowing the C l os in g, eac h of t he parties h ereto s hall, a nd shal l ca u s e tl 1 eir r cs p ccti,·e r \ ffi xx xxxx t o, e x ecute and deliY e r s uch additio n a l document s, i nstruments . co 1 n - e \ 'a n ces, a n d a xx xxxx ces and take s n c h further actions as may be reasonably r eq u ire d t o cru - r · o m the p m· isi ons here o f and g i, · c effec t to the transactions contemplated by xxx x . \ gr ee m e nr an d the o ther Transa c ti o n Document s . AR T IC L E VI Ind e mnifi ca ti o n S e c ti on 6 . 01 S u rv i v al • . \ ll repres e ntation s, warranties, co, - en ant s, and agreement s co nrained h ere in and al l relat e d ri g hts to ind emnificatio x x xxxx s un ; , • e th e C l osi ng . Sec ti o n 6 . 02 Ind e mnific atio n b y Se ll e r . Subject to t he o xxxx terms and cond iti o n s of thi s . \ rtic lc \ ' I , Xxx ler s hall ind em ni fy and defend ea c h of Buy e r and i ts . \ fftliat es and th e ir r cspecti \ - C R e pr ese nt a ciYc s ( collectively, t h e " Bu ye r lnd e mnit ees ") aga in s t, and s h a ll x x xx eac h o f rhnn harmle ss from a nd aga i n st, any and all l oss es, damages, li abilities, d eficie n c i es, : \ c 6 o ns , j u <l g mcnt s . interest, award s, penaltie s, fme s, co s ts, or ex pense s o f whate, ·e r kind , includin g reasonable att or nc · s' f ees (co llc c ti \ · c :; l · , " Losse s"), i . n currc<l o r , ; u s t a in cd b - , or impos e d upon , th e 13 u yc r l n xx x .: mJ 1 ic cc : s based up o n, aris in g out of, or w ith re s pe c t to : (a) a 1 w inaccurac y in or breach of an y o f rhe representati o n s o r warranti es of Se ll e r co ntain e d in thi :; . · \ grecment, a n y o ther T ransaction D oc ument , o r a n y sc h e dule , ce rtificate , or exhibit related t h ereto, as o f t h e date such repre se ntation or warranty wa s made o r a s if s uch represc : nrar . ion o r warra nt y wa s made on and as of t he Clos in g Dat e (exce pt for r e pre senr . ations 10
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and ,,·arranties that expressly relate to a spec ified <late, the inaccuracy in or breach of which 11 ,,·ill be determined ,,·ith reference ro such s pe cified da t e); · (b) ny breach or n o n - fulfillmcnr of any coYenant, agreeme nt , or obligacion to be pcrfom 1 ed by Sel l r pur sua nt r _o . rh 1 s , \ grcemcnt, any other T ran saction Document, o r any schedule, certtficatc, or exh 1 h 1 t related thereto ; (c) any xclu ded . \ sset or any Excluded Liability; or (d) any Thi r d P arry C l aim ba:;cd upon, resulring from, or arising out of rhe business, operations, properties, assets, or obligatio n s of Se ll er or any of irs Affiliates (othe r than the Pur c ha sed • ssets or : \ ssumed ( - iab ilirie s) conducted, existing, or ar i sing on or prior to the Clos i ng Date. ! ·o r purposes of tlu s 1 \ grecmenr, " Third Party Claim " m ean notice of the assertion or commencement of any . \ cti o n made or brought by any Per son who i s not a part y to thi s Agreement or an Af filiat e of a part y to thi s Agreement or a R epresentatiYe of the fo egoing . Section 6 . 02 Indemnification by Buyer . Subjec t ro th e otl 1 er te rm s and conditions of this . \ niclc \ · 1 , Buyer shall indemnify and de fend each of Se ll er and irs 1 \ ffiliares and their respecti, · e Repre sentatives ( collcctiYcly, the " Seller Indemnitees ") against, and s h all hold eac h of them harmle ss from and agaimt any and all Losses incurred or sustained by, or imposed upon, th e Seller lnd emnirees based up o n, arisi n g out of, or with respect ro : ( a ) any inaccuracy in o r breach of a n y of the representations or warranties of Bu,·er contai n ed in this . \ greement, a n y other Transaction Document, or any schedule, ccrtificarc , o r e xhib ir n .: latc : d thereto, a : s of rhc date such rc : prcscntarjon or ,varranr - wa : s m . adc or a : - - if such representation or warranry was made on and as of rhe Closing Dare ( except for representations and ,varranties thar expre % l · rdate to a specified <late, the inaccuracy in or breach of ,vhich ,, · ill be determined with reference to s uch s p ecified date) ; 0> ) an y breach or non - fulfillment of any co, · enant, agreement, or obligation robe performed b Bu xxx x xxxxx nt to xxxx . \ greemcnt ; or ( c ) any . \ s sumcd I .iabilicy. S ect ion 6 . 03 Indemnification Proc e dur es . Whene,·er any cl aim shall arise for indemnification hcrcumkr, the parry entitled to indemnification ( the " Ind e mnified Party " ) shall promptly prm·ide written not i ce of such claim to the other parry ( the " Indemnifying Party " ) . In co nne ction \ \ ith an · clnim gi, · i ng i - isc ro i ndemniry h ereunder resulting from or a ri sing our of any . \ crion by a Per s on ,vho is not a p arty ro this , \ grccmcnt, th e In demnifying Xxxx y , ar its sole cosr and expense .: a nd upon ,,Titren notice to the ln<lemnified Xxxxx, may assume the defense of an - s uch . \ ctio , n , · ith counsel reasonably sati facrory ro the ]nd emnified Par ry . The 1 n<lemn _ ificd Xxxxx s h a ll be entitled to participate in the defense of any such , \ ct . ion, wirh its cou n sel and at its own cost and expense . I f the In demnifying P arty docs n ot assume the d efense of any such . \ ctio n , the I ndemnified Parry may, bur s h a ll not be obl i garcd to, defend against such . \ ction i . n such manner as it may deem appropriacc, includin g settli n g such , \ ction, after giY in g notice of it to the Indemnifying Pa . rty, on such terms a s the Indemnified Party may deem nppropriate and no action taken by the Indemn ifie d P arry i . n accordance .: with such defense and settlement shall rclie, · e t h e I ndemnifying Part · o f its indcmnification obligations herein prO \ · idc<lwirh respect to any damages n .: sul t ing ther efrom . The Ind emnifying Party s h a ll not settle any
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- \ ccion without tJ 1 e 1 n<lemnified P arty's pri or written consent ( which ccmsent s hall not be unr easo nab l y , \ · ithhcld or delayed ) . Section 6 . 05 Cumulative Rem ed ie s . The rights and remedies prm·idcd in this 1 \ rticle \ 'J arc cumulatiYc and arc in addition to and not in substitution fo r any other rights and remedies an . ilablc at la,v or in equity o r othetwise . ARTICLE VII Mi sce llaneou s Section 7 . 01 Expenses . , . - \ ll costs an<l expenses incw : re< l in connection with thi s . \ grecmcnt and the transactions contemplated hereby s hall be paid by tJ 1 c p arty i n curring such costs and expenses . Section 7 . 02 Notices . All notice s , claims, demands, and ot h er communications hcrcundcr s hall be in writing and s hall be deemed to have been giYen : (a) when deliYete<l by hand ( with written confirmation of receipt ) ; (b) when receiYcd by the addressee if se nt by a nationall y recognizcd o,·ernight courier ( receipt rcqucstcd) ; (c) on th e date sent by email of a PDF document (, , · ith confirmat i o n of trans mis sio n ) if sent during normal business hours of the recipient , and on the ne : xr business day i f se n t after normal business hours of the recipient, or ( d ) on the third da · after the date mailed, by certified or registered mail , return receipt requested, postage prepa i d . Such commu ni cations mu st be sent to the re s pecti, - c parties at the following addresses (o r at such other address for a parry as shall be specified in a n oti ce gi \ ·en in accordance ,v - - ith this 0 ) : 12 If to Seller: , \ ddrcss: Fmail : . \ ttcntio n: . \ nrhony Xxxxxx \ Vith a copy to: Ifto Buy er: with a copy to: : \ ddrcs s : E mail: . \ teen tion: 2311 E. L ocus r Court, Ontario, C \ Email: xxxxxxx@xxxxxxxxxxxxxx.xxx A.trention: D es h cng \ Xxxx 18818 Teller . \ vc. , Sui te 115, ln ·i ne, C. \ 92612 Email: gbradshaw@wbc - xxx.xxx . \ ttention: Xxxxxx Xxxxxxxx Section 7 . 03 Int e rpr e t a tion ; Headings . Thi s . \ grccmcnt sha ll be com trued without regard to any pre s umption or rule re c 1 u irin g construction or interpretation against the party drafting an instrument o r causing any i . nstrutnc n t to be draft ed . The h eadi n g!" i . n thi s . \ g rccmcnt arc for reference o nl y and shall nor affe ct the int cr pn : tatio n of this : \ greement . Section 7 . 04 Severability . lf any term or proYision o f thi s . \ gn : cment is i . nYalid , illegaL or unenforceable in any jurisdiction, such invalidity, illegalit y, or um : nforceabi lir y :; hall not affect any other term o r pro, - ision of this , \ grecmcnt .
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Se c ti o n 7 . 0 5 E ntir e Ag r e em e n t . This_ \ g re c m cnr and the oth er Transaction Document s constitute the so le and entire agreement of tl, e parties to chis : \ greement witl, r espect to t he subject matter contained herein and tl , xxxxx, and s u pers ede all prior and contemporaneous unc . krstandin gs and agreements, both \ vritten a nd ora l, with r es p ect to s uch su bject matter . In the e, - enc of any inc o n s i s tenc y bern - cen tl 1 e sta t e ment s i n the b o d y of this . i \ grecmcnr and those i n the o th x x Xxxx sact ion D ocume nt s, and rht : Exhi bit s, the statements in t h e body of this . \ grcc ment will contro l . S e c tion 7 . 06 S ucc e s s or s a nd As s igns . Xxx x x \ gree menr s hall be binding up o n and shall inure to thebe n efit of the parties hereto and their respective successo rs and p erm itted assigns . ' either parry may assign its rights or obligations h ere under withou t the prior written consenr of tl 1 c otl,er part y, ,vhich consent shall not b e unreasonably withheld or delayed . : \ n y purp o rted assignment in Yiolation of this Sectio n sha ll be nu ll and , - o id . Noassignment s hall relic \ ·e the ass igning part y of any of it s o bligations hereunder . Se c ti o n 7 . 07 Am e ndm e nt a nd M o difi ca tion ; Xxx v er . Th . i s . \ gr ccrn e m may o nly be amended, modified, o r s upplemented b · a n agreement in writing signed by eac h party h e r eto . ; o \ \ "ain, : r by any part y of any of the pro \ · i s i o ns hereof s ha ll be cffectiYe u n . lcs s ex p l icitly set form in ,, - riting and s i gne d by the xxxx y so xxx,· - x . xx . c • o failure to exercise, or delay in exe rci s in g, any right or remedy ar i ing from thi s, \ greemenr sha lJ operate or be construed as a wai, ·cr thereof ; nor shalJ any s xxxxx or partial ex e rcise of any ri g xx x x x x med y h ereunder pr e clude any o ther or further exercise thereof o r rhc exercise of an · o th er ri g ht or remedy . S ec ti o n 7 . 0 8 G o v e rnin g Law ; Submi ss ion t o Juri s di c ti o n ; Xxx ve r o f Jury Tri a l . (a) This . - \ grecm ent shall be go , ·ernc d by and co n str ued i .. n a ccor d ance with rh c int xxxx l law s of the S tar e of Califo rnia without gi,·ing eff ect x x x x - x x x ic e or co nflict of law pro, · ision or rule (w hether of the Stare o f Ca lifornia or any or h er jurisdiction ) . . \ nylegal suit, actio n , proceeding, o r dispute arising out of or related t o thi s . \ greemcm , t he o tl 1 xx Xxxx sact . ion D ocume nt s, or the xxxx sact i o n s contemplated hereby or tlwr xxx ma y be in stitute d in th e fed e ral co urt s of the L " nircd St ate s of . \ . xxxxx a or tJ 1 e courts of rhc Srace of California in each ca e locaccJ in the c in - of Ontario and county of Xx x Xxxxxxxxx o, and each xxxx · i 1 - rc,·ocabh· submits t o die ex lusin : ju . risd . iction of s uch courts in any s u c h suit, : lc tio 11 , pro ceeding, or tlisputc . (b) J - :. \ CH P , \ R'l'Y . \ CK .! " \ lOW Ll DGE S . \ N D . \ GR l - : ES T H . \ T . \ '. \ '.Y CO>JTRO \ ' l ·'. RSY \ VH J C H ; - .. 1 . \ Y . - \ RlS E l"NDERTHI S . \ GREr ; - .. 11 : S : T OR T HI • : OTH ER TR . \ : \ "S . \ CTION DOCU,(E 1 TS 1 S Llh :. XXX TO l>JVOL VE COi \ I P LI C \ XXX . \ ND DIFFTCLTI" ISSL " ES . \ ' . ' - iD, THEREFORE, E . V : H P . \ R T Y IRRE \ 'O C . \ XXX . \ ND l . ">JC : O>iDfTI 0 : ' - 1 . \ lJ . Y W . - \ I VFS, TO Xx X X • : FLT . LE S T EXTEKT PERi \ IlTfL · J) 13 Y . · \ PPLJC : \ BLE L \ W, . - \ : ' - JY RIGH T IT i \ L \ Y H . \ \ T . TO . \ TR I . \ J .. BY JL"l Y I . \ NY LE( ; _ . \ J, : \ CT 10 , XXXXX L DING , C . \ C S E OF . \ CTIOK, OR COL . N TERCL . \ Evf . - \ RISIN( ; OL"T OF OR RI - J . . \ Tl N( ; TO Tl 11 S , \ G RI · : E? - . W T . T - : - ,,i C LL"DlNC . \ ? - : Y l XHII 3 TTS . \ D SC HU)L'L l •: S . \ Tf . \ CI !ED TO T H I S . \ GREEl \ Ir - : NT, THI OTHER TR . - \ : - X X . \ CT I ON DOC : L " 0 IE : - J T S, OR THE 1 ll .. \ i S . \ CT IOi \ S CON T U ' 1 PL . \ XXX HFRFBY OR THFREBY . E . \ CH P . \ RTY CERTlFJES . \ l \ : D . \ CKN 0 \ ' \ , 1 ,E DGES TH . \ T : ( I ) NO RLPR l •: S l - : : \ !T . \ Tl \ ' 1 :: oi : THE OTHER P . \ RTY H . \ S R . 1 - J>JU : S I · : N"rE D , LXPRLSSLY 13 OR OTHERW I SE, Tl··L \ T THE OTHER P . \ RTY \ VOL'L D "t \ O T Sl - '.E K TOE i fORCF THE FOREGOING W . \ I \ ' L R l N THE E \ . E"t \ T or . \ Ll C. - \ J. . · \ C TT ON; (TT ) F . - \ C:H
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PARTY H AS C 0 1 S ID ERED TH E l IPLI C \ TIO S OF TH I S \ Xi , \ f \ 'E R ; ( III ) EACH PARTY t - . L - \ K ES T HI S W .: \ l \ TER K 1 ' - J OW I NGLY AN D VO L UN T . - \ RlLY ; r \ N D ( IV ) E . AC H P . \ RTY H AS R EE . 1 :: - - JDCCE D TO E t " TE R Ir TO THIS . \ G REE i \ Il : : N T BY , , \ I \ IO NG OTH E R THI NCS, THE J \ JL 1 T L . \ X X , - \ l V XX X . AND CERTIF I C . \ T I OK S I N THfS S J C fl Ol \ . Sec ti o n 7.09 Count e rparts. Thi s . \ greeme n t may b e executed in counterparts , eac h o hd1ich shall be d ee med a n origina l , but a lJ of which together s h a ll be deemed t o b e o n e and the s ame agre e ment. . \ s i g n ed cop y of t hi s Agreeme nt c k \ in '. n .: c.1 b y email o r oth e r mean s of cl ecu - o ni c xxxx s mi ssio n s h all be deemed to ha Ye the same legal effect as d e fo · xxx of an origina l signed copy of this . \ grccmcnt. 14
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1 : - .i \ \ T E \ JES. \ ' 0 - - l fl{EOF, th e parties hereto hm·e caused xx.xx , \ grcemenr t o be execu t ed as of t h e: dare fir s t \ \ 'rittc n abm·e by their rcspecti,·c officers thereunto duly authorized. XXXXXXX XX J EDA, d.b.a AT TECH S ys tem s FO C US U NIVERSAL IN C. B) ' uJ? 15 amc: Dcsheng \ X ' ang Tide: C h ief Exccutin : Officer
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