ASSIGNMENT OF LEASES
THIS ASSIGNMENT dated as of December 29, 1995 (the "Assignment"), is
entered into by and between Box & Company, Inc., a Virginia corporation
("Assignor"), and Pluma, Inc., a North Carolina corporation ("Assignee").
W I T N E S S E T H :
WHEREAS, Assignor is the tenant under that certain lease dated April 1,
1995, between Tultex Corporation as landlord and Assignor with respect to that
certain real property commonly known as 00 Xxxxx Xxxxxx, Xxxxxxxxxxxx, Xxxxxxxx,
containing 3,840 square feet (the "Property") (the "Lease"); and
WHEREAS, Assignor desires to assign its interest as tenant in the Lease
to Assignee, and Assignee desires to accept the assignment thereof;
NOW, THEREFORE, in consideration of the promises and conditions
contained herein, the parties hereby agree as follows:
1. Effective as of January 1, 1996 Assignor hereby assigns to
Assignee all of its right, title and interest in and to the Lease.
2. Assignor warrants and represents that as of the date hereof Schedule
1 is a true and accurate copy of the Lease, and as of the date hereof, there are
no assignments of or agreements to assign the Lease to any other party.
3. Assignor hereby agrees to indemnify Assignee against and hold
Assignee harmless from any and all cost, liability, loss, damage or expense,
including without limitation, attorneys' fees, arising out of acts or omissions
of Assignor prior to the date hereof which in any way relate to the Assignor's
obligations under the Lease, or the Property, and provided this indemnity shall
not apply to any loss or damage incurred by Assignee resulting from the Assignor
and Assignee not procuring Tultex Corporation's consent to the assignment of
this Lease.
4. Except as otherwise set forth above or in the Contract of Purchase
and Sale between Assignor and Assignee of even date herewith effective as of
January 1, 1996, Assignee hereby assumes all of the Lessor's obligations under
the Lease and agrees to indemnify Assignor against and hold Assignor harmless
from any and all cost, liability, loss, damage or expense, including without
limitation, attorneys' fees, arising out of acts or omissions of Assignee
subsequent to the date hereof which in any way relate to the Assignor's
obligations under the Lease, or the Property, which arise after December 31,
1995.
5. In the event of any arbitration or litigation arising out of this
Assignment, the losing party shall pay the prevailing party's costs and expenses
of such litigation, including without limitation, attorneys' fees.
1
6. This Assignment shall be binding on and inure to the benefit
of the parties hereto, their heirs, executors, administrators, successors in
interest and assigns.
7. This Assignment shall be governed by and construed in
accordance with the laws of the State of North Carolina.
IN WITNESS WHEREOF, Assignor and Assignee have executed this Assignment
by hand and under seal as of the day and year first above written.
ASSIGNOR:
BOX & COMPANY, INC, a Virginia Corporation
By: /s/ Xxxxxx Xxxxxx Box
Xxxxxx Xxxxxx Box
President
ASSIGNEE:
PLUMA, INC., a North Carolina Corproation
By: /s/ R. Xxxx Xxxxxxx, Xx.
R. Xxxx Xxxxxxx, Xx.
President
2
SCHEDULE 1 to Assignment of Leases
Property Description
Schedule 1 to Exhibit E - 1
SCHEDULE 2 to Assignment of Leases
Schedule of Leases
Schedule 2 to Exhibit E - 1
