Exhibit 10.2
XXXX OF SALE
THIS XXXX OF SALE ("Xxxx of Sale") is made, executed and delivered by
COSINE COMMUNICATIONS, INC., A DELAWARE CORPORATION (hereinafter referred to as
"Tenant" and/or "Seller") to WESTPORT JOINT VENTURE, A CALIFORNIA JOINT VENTURE
(herein after referred to as "Landlord" and/or "Buyer") as of the date this Xxxx
of Sale is last executed by the parties hereto. The transfer of the Assets
(defined below) are subject to the terms and conditions of this Xxxx of Sale.
1. SALE: As an accommodation to Tenant, Landlord agreed to the early
termination of Tenant's Lease, which agreement included the requirement
that Tenant transfer to Landlord, at no additional cost, the furniture and
equipment listed on Exhibit A attached hereto. Therefore, for valuable
consideration, receipt of which is hereby acknowledge, and in consideration
of the hereinafter mutual promises, and at no additional cost to Buyer,
Seller hereby assigns, transfers and conveys to Buyer, its successors and
assigns for its and their own use and benefit, all right, title and
interest in and to the assets listed on Exhibit A attached hereto and
incorporated herein by this reference (the "Assets") owned by Seller, and
Buyer hereby accepts the Assets. Seller hereby represents that the total
value of said items listed on Exhibit A is $1.00.
2. WARRANTY: The Seller hereby represents and warrants that said Assets are
owned by the Seller, and are free and clear of any liens, encumbrances, and
liabilities. Except for the foregoing, the Assets are being transferred to
Buyer without any representation or warranty, whether express or implied,
and are being transferred to Buyer on an "As-Is", "Where-Is" and "With All
Fault" basis. Buyer acknowledges that it has had a full and complete
opportunity to inspect the Assets, and it fully and unconditionally accepts
such Assets in their current used condition. Seller hereby expressly
disclaims any warranties (express or implied) as to merchantability and/or
fitness of a particular purpose, and any warranties (express or implied)
concerning the physical condition, value or utility of the Assets.
3. LOCATION OF ASSETS: It is hereby acknowledged by the parties hereto that
the Assets are currently located in the Premises located at 0000 Xxxxxx
Xxxxxxx, Xxxxxxx Xxxx, Xxxxxxxxxx, which Premises were leased by Seller
from Buyer under Lease Agreement dated May 26, 1998, as amended (the
"Lease"), and that said Assets shall remain in the Premises.
4. GENERAL: This Xxxx of Sale shall be governed by and construed under the
laws of the State of California as applied to agreements among California
residents entered into and to be performed entirely within California. This
Xxxx of Sale shall bind Seller and its successors and assigns and shall
inure to the benefit of Buyer and its successors and assigns. This Xxxx of
Sale contains the entire agreement between the parties as to the subject
matter hereof, and shall supersede in its entirely all prior discussions,
correspondence or agreements whatsoever regarding such subject matter.
IN WITNESS WHEREOF, the undersigned has executed this Xxxx of Sale as of
the date set forth above.
BUYER: SELLER:
WESTPORT JOINT VENTURE COSINE COMMUNICATIONS, INC.
A California joint venture a Delaware corporation
XXXX XXXXXXXXX SURVIVOR'S TRUST By: /s/ Xxxxx Xxxxxx
-------------------------------
By: /s/ Xxxx Xxxxxxxxx EVP & CFO
--------------------------- -------------------------------
Xxxx Xxxxxxxxx, Trustee Print or Type Name/Title
Date: 10/22/04 Date: 10/22/04
------------------------- -------------------------
XXXXX PRIVATE INVESTMENT
COMPANY-WP, L.P.,
A California limited partnership
By: /s/ Xxxxxxx X. Xxxxx
-------------------------------
Xxxxxxx X. Xxxxx, Trustee of the
Xxxxxxx X. Xxxxx Separate Property
Trust dated 7/20/77, as its General
Partner
Date: 10/22/04
-----------------------------
XXXXX PUBLIC INVESTMENT
COMPANY-WP, L.P.,
A California limited partnership
By: /s/ Xxxxxxx X. Xxxxx
-------------------------------
Xxxxxxx X. Xxxxx, Trustee of the
Xxxxxxx X. Xxxxx Separate Property
Trust dated 7/20/77, as its General
Partner
Date: 10/22/04
-----------------------------
[Signature page to Xxxx of Sale]
EXHIBIT A
The Assets consist of the following used tangible personal property:
QUANTITY DESCRIPTION
172 Task Chairs (Black)
188 Sitting Chairs (Black)
57 Task Chairs (Beige)
64 Sitting Chairs (Beige)
68 Lab Chairs (w/ round metal footstool) (Blue)
29 Desk Sets (Maple/Metal)
155 8x8 Cubicles
61 Lab Benches
1 Lobby Desk (maple)
3 16' Conference Tables (Maple)
2 Credenza, matches conference table (Maple)
16 Leather Conference Chairs (Black)
1 Movable Dry Erase Board
1 TV Tray
11 Conference Chairs (not leather)
11 Conference Room Sitting Chairs (match the conference chairs)
1 V-Shaped Conference Table (Maple)
2 Credenzas (match the V-shaped table) (Maple)
2 Round Tables (Maple)
2 Small Conference Table (Maple)
16 2-Drawer Lateral File (Black)
2 Lockable Shelving Units, low (Black)
20 5-Shelf Lockable Shelving Units (Black)
3 Task Chairs (Purple)
3 Wooden Cafeteria Chairs (Black)
7 4-Drawer Lateral File Cabinet (Black)
11 4-Drawer Lateral File Cabinet (Beige)
1 Conference Table, medium sized (Maple)
100 Stackable Plastic Chairs
6 Folding Tables
4 Small Tables/Work Surfaces (Xxxx)
14 Plastic Kitchen Chairs (Blue)
1 Black File Cabinet
5 Coffee/End Tables for Lobby (maple)
5 Lobby Sofa Chairs
2 Lobby Chairs (Green)
