AMENDMENT NO. 2 TO THE ASSET PURCHASE AGREEMENT
Exhibit
2.3
AMENDMENT
NO. 2 TO THE ASSET PURCHASE AGREEMENT
AMENDMENT NO. 2, dated June 12, 2009
(this “Amendment”) to
the ASSET PURCHASE AGREEMENT (as amended, the “Purchase Agreement”), dated as
of May 29, 2009, as amended by Amendment No. 1 to the Purchase Agreement, dated
June 11, 2009, in each case, by and among Xxxxxx International, Inc, a Maryland
corporation (“Xxxxxx”),
the Sellers set forth on the signature page thereto (collectively with Xxxxxx,
the “Sellers”) and
Xxxxxx America LLC, a Delaware limited liability company (“Buyer”).
RECITALS
WHEREAS, capitalized terms used but not
otherwise defined herein shall have the meanings ascribed to such terms in the
Purchase Agreement; and
WHEREAS, the parties to the Purchase
Agreement have determined that it is advisable to further amend the Purchase
Agreement; and
WHEREAS, Section 13.4 of the
Purchase Agreement provides that the Purchase Agreement may be amended by
execution of a written instrument executed by the parties thereto.
NOW, THEREFORE, in consideration of the
foregoing premises, and the agreements, covenants, representations and
warranties contained in the Purchase Agreement and herein, and other good and
valuable consideration, the receipt and adequacy of which are hereby
acknowledged and accepted, the parties, intending to be legally bound, hereby
agree as follows:
1.
Section 1.3.3 of the Purchase Agreement is
hereby amended by amending and restating such section in its entirety so that,
as amended and restated, it shall read as follows:
1.3.3
On or prior to June 25, 2009 (the “Designation Deadline”), Buyer
may designate in writing any Executory Contract as a Contract to be assumed by
it pursuant to this Agreement (collectively, the “Assumed Contracts”).
Buyer shall be obligated to pay at Closing any Undisputed Cure Costs associated
with the assumption of such Assumed Contract and shall be obligated to escrow or
otherwise secure payment of any Disputed Cure Costs. The Disputed Cure
Costs shall only be paid by Buyer pursuant to Order of the Bankruptcy Court or
mutual agreement between Buyer and the counterparty to the applicable Assumed
Contract. Notwithstanding anything contained herein to the contrary, Buyer
shall only assume, and shall only be responsible for, Contracts designated by it
as Assumed Contracts pursuant to this Section 1.3. As used herein, “Order” shall mean any order,
injunction, judgment, decree, ruling, writ, assessment or arbitration award of a
Governmental Authority.
2.
Exhibit “H” of the Purchase Agreement, the
Bidding Procedures Order, is hereby amended by amending and restating such
exhibit in its entirety so that, as amended and restated, it shall read as set
forth in Annex
A attached hereto.
3.
Exhibit “I” of the Purchase Agreement, the
Bidding Procedures, is hereby amended by amending and restating such exhibit in
its entirety so that, as amended and restated, it shall read as set forth in
Annex B
attached hereto.
4.
Except as specifically amended hereby, the
terms and provisions of the Purchase Agreement shall continue and remain in full
force and effect and the valid and binding obligation of the parties thereto in
accordance with its terms. All references in the Purchase Agreement (and
in any other agreements, documents and instruments entered into in connection
therewith) to the “Purchase Agreement” shall be deemed for all purposes to refer
to the Purchase Agreement, as amended by this Amendment.
5.
This Amendment may be
signed in counterparts. The parties further agree that this Amendment
may be executed by the exchange of facsimile signature pages provided that by
doing so the parties agree to undertake to provide original signatures as soon
thereafter as reasonable in the circumstances.
6. This
Amendment shall be governed by and construed in accordance with the laws of the
State of Delaware without regard to any conflicts of laws
principles.
[SIGNATURE
PAGE FOLLOWS]
2
IN WITNESS WHEREOF, Buyer and
Sellers have executed this Amendment as of the day and year first above
written.
BUYER:
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XXXXXX AMERICA
LLC
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By:
/s/ D. Xxxxxxx
Xxxxxxxx
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Name: D. Xxxxxxx
Xxxxxxxx
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Title:
President
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SELLERS:
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XXXXXX INTERNATIONAL,
INC.
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By:
/s/ Xxxxxx
Xxxxxxxx
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Name:
Xxxxxx
Xxxxxxxx
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Title:
President
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XXXXXX SERVICES INTERNATIONAL,
INC.
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By:
/s/ Xxxxxx
Xxxxxxxx
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Name:
Xxxxxx
Xxxxxxxx
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Title:
President
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XXXXXX SERVICE GROUP,
INC.
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By:
/s/ Xxxxxx
Xxxxxxxx
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Name:
Xxxxxx
Xxxxxxxx
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Title:
President
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XXXXXX OF NEW JERSEY REALTY
CORP.
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By:
/s/ Xxxxxx
Xxxxxxxx
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Name:
Xxxxxx
Xxxxxxxx
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Title:
President
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XXXXXX TELECOM,
INC.
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By:
/s/ Xxxxxx
Xxxxxxxx
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Name:
Xxxxxx
Xxxxxxxx
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Title:
President
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XXXXXX UTILITY SERVICE,
INC.
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By:
/s/ Xxxxxx
Xxxxxxxx
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Name:
Xxxxxx
Xxxxxxxx
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Title:
President
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XXXXXX SERVICES,
INC.
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By:
/s/ Xxxxxx
Xxxxxxxx
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Name:
Xxxxxx
Xxxxxxxx
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Title:
President
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XXXXXX RESOURCES,
LLC
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By:
/s/ Xxxxxx
Xxxxxxxx
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Name:
Xxxxxx
Xxxxxxxx
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Title:
President
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Annex
A
[BIDDING PROCEDURES
ORDER]
A-1
Annex
B
[BIDDING
PROCEDURES]
B-1