ASSET PURCHASE AGREEMENTAsset Purchase Agreement • January 23rd, 2020 • Trans World Entertainment Corp • Retail-record & prerecorded tape stores • Delaware
THIS ASSET PURCHASE AGREEMENT (this “Agreement”) dated as of January 23, 2020, is entered into by and among RECORD TOWN, INC., a New York corporation (“Record Town”), RECORD TOWN USA LLC, a Delaware limited liability company (“Record Town USA”), RECORD TOWN UTAH LLC, a Utah limited liability company (“Record Town Utah”), TRANS WORLD FL LLC, a Florida limited liability company (“Trans World FL”) and TRANS WORLD NEW YORK, LLC, a New York limited liability company (“Trans World NY” and together with Record Town, Record Town USA, Record Town Utah, and Trans World FL, collectively the “Vendor”), 2428392 INC., a Delaware corporation (“Purchaser”), solely with respect to Sections 6.3, 6.13, 6.14 and 10.13, TRANS WORLD ENTERTAINMENT CORPORATION, a New York corporation (“Parent”), and solely with respect to Section 10.14, 2428391 ONTARIO INC. o/a SUNRISE RECORDS, an Ontario corporation (“Sunrise”).
