STOCK PURCHASE AGREEMENT BY AND AMONG HCP ED HOLDINGS, LLC, HCP ED HOLDINGS, INC. MICHIGAN INSTITUTE OF AERONAUTICS, INC. D/B/A MIAT COLLEGE OF TECHNOLOGY, AND UNIVERSAL TECHNICAL INSTITUTE, INC. March 29, 2021Stock Purchase Agreement • May 7th, 2021 • Universal Technical Institute Inc • Services-educational services • Delaware
TABLE OF CONTENTS PAGE Article I DEFINITIONS 1 Section 1.1 Definitions 1 Section 1.2 Interpretation 17 Article II SALE AND PURCHASE OF SHARES 18 Section 2.1 Sale and Purchase of Shares 18 Article III PRE-CLOSING DELIVERIES; PAYMENTS AT CLOSING 18 Section 3.1 Calculation of Base Purchase Price 18 Section 3.2 Calculation of Closing Purchase Price 18 Section 3.3 Payments at Closing 19 Section 3.4 Withholding 20 Article IV POST-CLOSING ADJUSTMENTS 20 Section 4.1 Post-Closing Purchase Price Deliveries and Adjustments 20 Section 4.2 Payment of Post-Closing Adjustment 22 Article V CLOSING 22 Section 5.1 Closing 22 Section 5.2 Deliveries 23 Article VI REPRESENTATIONS AND WARRANTIES CONCERNING THE COMPANY AND ITS SUBSIDIARIES 25 Section 6.1 Due Organization, Good Standing and Corporate Power 25 Section 6.2 Title to Shares; Capitalization 25 Section 6.3 Authority and Enforceability 27 Section 6.4 No Defaults or Conflicts 27 Section 6.5 Consents 28 Section 6.6 Financial Statements; Internal Contr
