PHOENIX INK, LLC
Contract for sale and purchase of Business Assets
This contract for sale and purchase, hereinafter referred to
as "Contract" or "Agreement", is executed this 20th day of
November, 2000, by and between Phoenix Ink, LLC., (a limited
liability company) hereinafter referred to as "Seller", and e
Nutrition, Inc. (a Nevada corporation) hereinafter referred to as
"Buyer".
WITNESSETH:
WHEREAS, Seller is the owner of Seller's property more
particularly described in Exhibit "A" attached hereto and made a
part hereof, hereinafter referred to as the "Property"; and Buyer
desires to purchase Seller's property and Seller desires to sell
said property to Buyer;
NOW, THEREFORE, for and in consideration of the mutual
covenants and promises hereinafter contained, the Seller agrees
to sell and the Buyer agrees to buy the "Property" upon the
following terms and conditions.
1. PURCHASE PRICE AND METHOD OF PAYMENT. Buyer shall pay and
Seller shall accept the purchase price of Ten Thousand
Dollars ($10,000) payable in two installments of Five
Thousand Dollars ($5,000) each. The first installment
immediately upon execution of this agreement and the final
installment within thirty (30) days of today's date.
2. REPRESENTATIONS AND WARRANTIES OF SELLER. Seller
represents and warrants to Buyer that it indeed owns the
"Property," and has title to it, and there are no
encumbrances, liens, or attachments to said "Property."
Seller also warrants that it has not sold or otherwise
granted authority to any other entity to use the "Property"
in any way.
3. DISCONTINUANCE OF ROYALTY. All royalties accruing to
the Seller of the "Property" are deemed paid in full and shall no
longer accrue, upon final payment. The Seller relinquishes any
claim or right to any royalty for the use or sale of the
"Property."
IN WITNESS WHEREOF, this Agreement has been executed by
each of the individual parties hereto and signed by an officer
thereunto duly authorized and attested under the corporate seal
of the Secretary of the Corporate party hereto, if any, all on
the date and year first above written.
/s/ Xxxxxx Xxxx /s/ Xxxxxx X. Xxxxx
Xxxxxx Xxxx, for Phoenix Ink, LLC Xxxxxx X. Xxxxx, eNutrition, Inc.
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EXHIBIT "A"
PROPERTY DESCRIPTION
All assets, benefits, rights, royalties, and uses
associated with or relating to the trademark, trade name, and
formulation of HI-Q products including, but no limited to, the
product names and formulations of HI-Q Golden, HI-Q Prime, HI-Q
Junior, HI-Q Teen, HI-Q Smart Start, HI-Q Weigh Dux and HI-Q
Weigh Dux II, and any other HI-Q product names or formulations
used or owned by Seller.
Initials:
Seller /s/ HR
Buyer /s/ SW
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