03.07.2013 Views

MASTER ASSET PURCHASE AGREEMENT BY ... - Canadian Stocks

MASTER ASSET PURCHASE AGREEMENT BY ... - Canadian Stocks

MASTER ASSET PURCHASE AGREEMENT BY ... - Canadian Stocks

SHOW MORE
SHOW LESS

Create successful ePaper yourself

Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.

End Target Initial Closing Working Capital, there will be no adjustment to the Base Initial<br />

Closing Purchase Price pursuant to this Section 1.2(b)(iv).<br />

(v) Adjustment for Accrued Initial Closing Employee Entitlements.<br />

Seller shall wire the amount of the Accrued Initial Closing Employee Entitlements as finally<br />

determined pursuant to this Section 1.2(b), (which amount shall be grossed up to adjust for tax<br />

obligations undertaken by Buyer and any other payments or contributions required to be paid by<br />

Buyer to any Governmental Authority or any other Person in connection with the payment of the<br />

Accrued Initial Closing Employee Entitlements as finally determined to the Initial Closing<br />

Employees but, for the avoidance of doubt, excluding any amounts required to be withheld or<br />

deducted from amounts paid to the Initial Closing Employees), to an account designated in<br />

writing by Buyer in immediately available funds within two (2) Business Days after the date that<br />

the amount of the Accrued Initial Closing Employee Entitlements is finally determined pursuant<br />

to this Section 1.2(b).<br />

(vi) Adjustment for Accrued Initial Closing Bonus Entitlements. Seller<br />

shall wire the amount of the Accrued Initial Closing Bonus Entitlements as finally determined<br />

pursuant to this Section 1.2(b) (which amount shall be grossed up to adjust for tax obligations<br />

undertaken by Buyer and any other payments or contributions required to be paid by Buyer to<br />

any Governmental Authority or any other Person in connection with the payment of the Accrued<br />

Initial Closing Bonus Entitlements as finally determined to the Initial Closing Employees but, for<br />

the avoidance of doubt, excluding any amounts required to be withheld or deducted from<br />

amounts paid to the Initial Closing Employees), to an account designated in writing by Buyer in<br />

immediately available funds within two (2) Business Days after the date that the amount of the<br />

Accrued Initial Closing Bonus Entitlements is finally determined pursuant to this Section 1.2(b).<br />

(vii) Adjustment for Initial Closing Severance Entitlements. Seller shall<br />

wire the amount of the Initial Closing Severance Entitlements as finally determined pursuant to<br />

this Section 1.2(b) (which amount shall be grossed up to adjust for tax obligations undertaken by<br />

Buyer and any other payments or contributions required to be paid by Buyer to any<br />

Governmental Authority or any other Person in connection with the payment of the Initial<br />

Closing Severance Entitlements as finally determined to the Initial Closing Employees but, for<br />

the avoidance of doubt, excluding any amounts required to be withheld or deducted from<br />

amounts paid to the Initial Closing Employees), to an account designated in writing by Buyer in<br />

immediately available funds within two (2) Business Days after the date that the amount of the<br />

Initial Closing Severance Entitlements is finally determined pursuant to this Section 1.2(b).<br />

(viii) Cooperation and Access to Books and Records. Buyer and Seller<br />

shall, and shall cause the Buyer Parties and the Seller Parties respectively to, cooperate in good<br />

faith and assist each other in the finalization of the Initial Closing Statement, including the<br />

making available to the extent reasonably necessary of books, records, working papers and<br />

personnel.<br />

(ix) Adjustment to Base Canada Purchase Price. The Canada Purchase<br />

Price shall be subject to a separate adjustment following the Canada Closing in accordance with<br />

the Canada Purchase Agreement and without duplication of any asset or liability that is taken<br />

- 4 -

Hooray! Your file is uploaded and ready to be published.

Saved successfully!

Ooh no, something went wrong!