Common Contracts

ASSET PURCHASE AND SALE AGREEMENT

Asset Purchase Agreement • September 27th, 2022 • Arizona

• Contract Type
  Asset Purchase Agreement
• Filed
  September 27th, 2022
• Jurisdiction
  Arizona

THIS ASSET PURCHASE AND SALE AGREEMENT (together with the Exhibits and Schedules hereto, this “Agreement”), dated August 1, 2020 (the “Effective Date”), is made by and among Zovio Inc, a Delaware corporation (“Seller Parent”) and Ashford University, LLC, a California limited liability company (“Seller”, and together with Seller Parent, the “Seller Parties”), on one hand, and the Arizona Board of Regents, a body corporate, for and on behalf of The University of Arizona (“DigiCat”) and The University of Arizona Global Campus, an Arizona non-profit corporation (“Buyer”, and together with DigiCat, the “Buyer Parties”), on the other hand. “Party” refers, as the context provides, to any of Seller Parent, Seller, DigiCat, or Buyer; and “Parties” refers to Seller Parent, Seller, DigiCat, and Buyer collectively. Capitalized terms not otherwise defined in this Agreement have the meanings set forth on Exhibit A.