Purchase Agreement
As of August 23, 2023,
This exclusive purchase agreement (the “Purchase Agreement”) is made between VV Markets, LLC (“Purchaser” or “us”) and Vinvesto, Inc. (“Seller” or “you”) with regard to the assets described below (each individually an “Asset”, collectively the “Assets”).
Key Deal Points
-The purchaser shall pay and deliver the purchase price following notice from the Seller that all of the Assets have been acquired and all consideration for the Assets paid to the relevant third parties by the Seller, and subject to the qualification by the SEC of the Purchaser’s investment offering and the investment of sufficient funds in that offering.
-The Purchaser and Seller agree to take reasonable steps to confirm the method and time of payment of the Purchase Price, including any information that the Purchaser requires to initiate a wire transfer to the Seller.
-We have agreed with you to a purchase price and form of consideration to be paid for each Asset, as outlined below.
Your Rights and Obligations
-You have the ability to supply the Assets listed in the Asset Table.
-Upon trade settlement, you will store, maintain, and insure the Asset(s) as part of your inventory and consistent with the manner in which they were stored, maintained, and insured prior to the date of this Purchase Agreement.
-You will provide us with reasonable access to the Asset(s) for the creation of marketing materials. Marketing materials remain our property.
-Right to possession of the Assets shall transfer to the Purchaser upon payment of the Purchase Price. It is the Seller’s duty to ensure the Assets are delivered to the Purchaser or to the Purchaser’s designated storage facility in the same condition as when purchased by the Seller.
-Upon the completion of the offering, you will continue to store, maintain, and insure the assets, in exchange for the payment of storage fees.
The Results:
-Upon the successful completion of the relevant offering through the Vint platform, you will receive payment of the Consideration for the associated Asset, as outlined below, and we will assume title in, and take possession of, the Asset(s), unless otherwise mutually agreed by you and us.
Other:
-This Purchase Agreement may be modified or amended only with the prior written consent of both Purchaser and Seller.
Asset Table
Highland Park Hogshead Collection | |||
Wine |
Vintage |
Bottles | % Weighting of Collection (as per acquisition price) |
2006 Highland Park Refill Bourbon Hogshead |
2006 |
1 |
100.00% |
Description: | Highland Park Hogshead Collection | |
Total Acquisition Cost: | $70,500.00 | |
Consideration: Cash (%) Equity (%) Total |
$70,500.00 (100%) (0%) | |
$70,500.00 |
| |
Other Terms: |
| |
Acknowledged and Agreed:
/s/Xxxxxxxx Xxxx |
| /s/Xxxxxxxx Xxxx |
|
|
|
VV Markets, LLC |
| Vinvesto, Inc. |
Name: Xxxxxxxx Xxxx |
| Name: Xxxxxxxx Xxxx |
Title: Managing Member |
| Title: CEO |
Exhibit A – Purchase Orders, Receipts, and other Agreements for Purchase of Assets
This Exhibit A, titled "Purchase Orders, Receipts, and other Agreements for Purchase of Assets," forms an integral part of the Purchase Agreement entered into between the parties (the Manager and the Initial Asset Seller). This exhibit includes sales agreements between the parties, outlines the details regarding the shipping of assets, absence of discounts, and the requirement for assets to match any sales agreements.
1.Shipping of Assets: Upon completion of the sale, the assets purchased shall be promptly shipped to a partner storage facility designated by the Manager. The Manager’s partner facilities includes, but is not limited to London City Xxxx, Xxxxxxxx, Domaine, and Xxxx Vintners. The Manager will coordinate with the initial asset seller to facilitate shipping.
2.Match with Sales Agreements: It is a condition of this Agreement that the assets acquired by the Manager must correspond to the description and specifications as set forth in any relevant sales agreements, purchase orders, receipts, or other supporting documentation.
This Exhibit A is incorporated into the Agreement and shall be binding upon the parties hereto as if fully set forth therein. Attached in this exhibit are all agreements representing the sale of the Assets to the Manager.
