ASSET PURCHASE AGREEMENT by and among PROVIDENCE COMMUNITY SERVICES, INC. as Buyer, ROSS EDUCATION, LLC as Seller, and THE PROVIDENCE SERVICE CORPORATION as Guarantor August 4, 2006Asset Purchase Agreement • August 10th, 2006 • Providence Service Corp • Services-social services • Delaware
The Seller currently operates, among multiple businesses, Ross Innovative Employment Solutions (“Ross IES”). Ross IES is a division of the Seller which is in the business of providing workforce development and job retention services under the Temporary Assistance for Needy Family governmental program, the Workforce Investment Act governmental program and any similar program under any successor Law that relates to national workforce development services (the “Business”). The Parties desire that the Seller sell and the Buyer buy all of the assets of the Division (as defined below), except Shared Assets (as defined below) and that Buyer assume certain liabilities of the Division, and that the Guarantor guarantee the performance by the Buyer of its obligations in connection herewith, all on the terms and subject to the conditions set forth in this Asset Purchase Agreement (this “Agreement”). The Buyer, the Seller and the Guarantor are sometimes individually referred to herein as a “Party”
