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Schedule I
to Asset Purchase Agreement
between West Coast Entertainment Corporation and
the Sellers and Principals Identified Below
Section of Agreement
in Which Term, Item or
Information is Referenced Term or Item
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Recital Name, Address and Principal Office of Each Seller:
POTTSTOWN VIDEO INC.
("West Coast Video of Pottstown")
Northend Shopping Center
0000 X. Xxxxxxxxx Xxxxxx
Xxxxxxxxx, XX 00000
Principal: Xxxxxx Xxxxxx
COVENTRY VIDEO INC.
("West Coast Video of North Coventry")
Coventry Squre, Xxxxxx 000 & 000
Xxxxxxxxx, XX 00000
Principal: Xxxxxx Xxxxxx
C & V GROUP, INC.
("West Coast Video of Pennsburg")
Xxxxxxxxx Xxxxxx Xxxxxxxx Xxxxxx
Xxxxxxxxx Xxxx
Xxxxxxxxx, XX 00000
Principals: Xxxxxx Xxxxxx, Xxxxxx Xxxxxxx
and Xxxxxx Xxxxxxxxx
SHAMOKIN W.C. VIDEO INC.
("West Coast Video of Shamokin")
0xx xxx Xxxxxx Xxxxxxx
Xxxxxxxx, XX 00000
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Principals: Xxxxxx Xxxxxx, Xxxxxx Xxxxxxx and Xxxxxx
Xxxxxxxxx
XXXXXXX X.X. VIDEO INC.
("West Coast Video of Berwick")
000 X. Xxxxx Xxxxxx
Xxxxxxx, XX 00000
Principals: Xxxxxx Xxxxxx, Xxxxxx Xxxxxxx and Xxxxxx
Xxxxxxxxx
DANVILLE W.C. VIDEO INC.
("West Coast Video of Danville")
000 Xxxxxxxxxxx Xxxxxxxxx
Xxxxxxxx, XX 00000
Principals: Xxxxxx Xxxxxx, Xxxxxx Xxxxxxx and Xxxxxx
Xxxxxxxxx
BLOOMSBURG W.C. VIDEO INC.
("West Coast Video of Bloomsburg")
00 Xxxx Xxxx Xxxxxx
Xxxxxxxxxx, XX 00000
Principals: Xxxxxx Xxxxxx, Xxxxxx Xxxxxxx and Xxxxxx
Xxxxxxxxx
FAMILY COUNTRY VIDEO, INC.
("West Coast Video of Boyerstown")
000 Xxxx Xxxxxxxxxxxx Xxxxxx
Xxxxxxxxxx, XX 00000
Principal: Xxxxxx Xxxxxxxxx
SPRING XXXX X.X. VIDEO INC.
("West Coast Video of Springford")
Limerick Square
00 Xxxxxxxxxx Xxxx
Xxxxxxxxxx, XX 00000
Principals: Xxxxxx Xxxxxx, Xxxxxx Xxxxxxx and Xxxxxx
Xxxxxxxxx
Recital Principals: Xxxxxx Xxxxxx
0000 Xxxxxx Xxxxx
Xxxxxxxxx, XX 00000
Xxxxxx Xxxxxxx
000 Xxxx Xxxxxx
Xxxxxxxxx, XX 00000
Xxxxxx Xxxxxxxxx
00 Xxxxxxxxx Xxxxx
Xxxxxxxxx, XX 00000
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1.1(a)(ix) Trade Names: West Coast Video of Pottstown
West Coast Video of North Coventry
West Coast Video of Boyertown
West Coast Video of Springford
West Coast Video of Pennsburg
West Coast Video of Berwick
West Coast Video of Danville
West Coast Video of Bloomsburg
West Coast Video of Shamokin
1.1(c) Stores, Reflecting Street Address of Each Store,
and its Owning Seller: The information set forth
under "Recitals" on this Schedule I is
incorporated herein by reference.
1.3(a) Purchase Price: $4,075,733 (includes $5,000 in amounts Buyer has
agreed to pay toward the accounting/audit costs of the Sellers.
This amount is in addition to the amount calculated by reference
to the net operating cash flow formula)
1.4 Assumed Liabilities: All obligations of the Sellers continuing after
the Closing under the Leases specified on Schedule 2.11 and the
Contracts specified on Schedule 2.16 which become due and payable
after the Closing Date, in addition to other liabilities detailed on
the attachments to this Schedule I to the extent that such
liabilities arise after the Closing (No adjustment to Purchase
Price)
1.6 Closing Date: November 15, 1996
2.2 Each Seller's State of Organization, and Authorized and Issued Stock
(or Other Interests), and Identity of All Legal and Beneficial
Interests in Each Seller: See attachment to this Schedule I.
2.5(c) Minimum Net Operating Cash Flow: $1,085,529
14 Address for notices for purposes of Section 14:
To any Principal: At the addresses set forth under the heading
"Recitals" set forth
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on this Schedule I.
With a copy to: Xxxxx Xxxxx, Esq.
Xxxxx, Spirt & Xxxxx
000 Xxxxxxx Xxxx, Xxxxx 000
Xxxx Xxxx, XX 00000
