Asset Purchase Agreement - ALI CLE

September 2009ASSET PURCHASE AGREEMENT_________________BetweenEMPTOR CORPORATIONandSELLER COMPANY, INC._________________Dated as of _________ __, 20__Copyright © 2009 by Debevoise & Plimpton LLPAll rights reserved.21764211v18

Table of ContentsPageARTICLE ISale and Purchase1.1. Purchase of Assets ...................................................................................................11.2. Excluded Assets.......................................................................................................41.3. Assumption of Liabilities.........................................................................................41.4. Excluded Liabilities .................................................................................................61.5. Consent of Third Parties ..........................................................................................61.6. Closing .....................................................................................................................71.7. Purchase Price..........................................................................................................71.8. Allocation of Purchase Price....................................................................................7ARTICLE IIRepresentations and Warranties of Seller2.1. Authorization, etc.....................................................................................................82.2. Corporate Status.......................................................................................................92.3. No Conflicts, etc ......................................................................................................92.4. Financial Statements, etc. ......................................................................................102.5. Absence of Undisclosed Liabilities .......................................................................122.6. Absence of Changes...............................................................................................132.7. Material Contracts..................................................................................................142.8. Real Property; Assets.............................................................................................162.9. Intellectual Property...............................................................................................182.10. Litigation................................................................................................................192.11. Compliance with Laws; Governmental Approvals; Permits. ................................202.12. Environmental Matters...........................................................................................212.13. Employees, Labor Matters, etc ..............................................................................222.14. Employee Benefit Plans and Related Matters; ERISA..........................................222.15. Taxes......................................................................................................................252.16. Insurance................................................................................................................262.17. Customers and Suppliers........................................................................................272.18. Affiliate Transactions; Guaranties, etc. .................................................................282.19. Brokers, Finders, etc ..............................................................................................292.20. Disclosure ..............................................................................................................2921764211v18i

Table of Contents(continued)PageARTICLE IIIRepresentations and Warranties of Buyer3.1. Corporate Status; Authorization, etc......................................................................303.2. No Conflicts, etc ....................................................................................................303.3. Litigation................................................................................................................313.4. Commitments.........................................................................................................313.5. Brokers, Finders, etc ..............................................................................................31ARTICLE IVCovenants4.1. Covenants of Seller................................................................................................314.1.1. Conduct of Business ............................................................................314.1.2. No Solicitation .....................................................................................324.1.3. Access and Information. ......................................................................324.1.4. Financial Statements ............................................................................334.1.5. Public Announcements ........................................................................334.1.6. Further Actions. ...................................................................................334.1.7. Further Assurances...............................................................................344.1.8. Liability for Transfer Taxes and Fees..................................................344.1.9. Use of Business Name .........................................................................354.2. Covenants of Buyer................................................................................................354.2.1. Public Announcements ........................................................................354.2.2. Further Actions. ...................................................................................354.2.3. Further Assurances...............................................................................364.2.4. Use of Business Names by Buyer........................................................364.2.5. Environmental Assessment..................................................................364.3. Foreign Acquisition Agreements ...........................................................................37ARTICLE VConditions Precedent5.1. Conditions to Obligations of Each Party ...............................................................385.1.1. HSR and Foreign Competition Laws...................................................385.1.2. No Injunction, etc.................................................................................385.2. Conditions to Obligations of Buyer .......................................................................385.2.1. Representations, Performance, etc.......................................................385.2.2. Consents...............................................................................................3921764211v18ii

Table of Contents(continued)Page5.2.3. Financing..............................................................................................395.2.4. Subsequent Monthly Financial Statements..........................................395.2.5. No Material Adverse Effect.................................................................405.2.6. Ancillary Agreements ..........................................................................405.2.7. U.S. Transfer Documents.....................................................................415.2.8. Opinion of Counsel..............................................................................425.2.9. Environmental Assessment..................................................................425.2.10. Title Policies ........................................................................................425.2.11. Surveys.................................................................................................435.2.12. Consents and Estoppels........................................................................435.2.13. FIRPTA Certificate..............................................................................445.3. Conditions to Obligations of Seller .......................................................................445.3.1. Representations, Performance, etc.......................................................445.3.2. Opinion of Counsel..............................................................................455.3.3. Consents and Approvals ......................................................................455.3.4. Ancillary Agreements ..........................................................................45ARTICLE VIEmployees and Employee Benefit Plans6.1. Employment of Seller’s Employees.......................................................................456.2. Pension Benefit Plans. ...........................................................................................476.3. Welfare and Fringe Benefit Plans..........................................................................496.4. Workers’ Compensation ........................................................................................516.5. Employment Taxes. ...............................................................................................51ARTICLE VIITermination7.1. Termination............................................................................................................527.2. Effect of Termination.............................................................................................53ARTICLE VIIIIndemnification8.1. Indemnification by Seller.......................................................................................538.2. Indemnification by Buyer ......................................................................................558.3. Certain Limitations. ...............................................................................................5521764211v18iii

Table of Contents(continued)Page8.4. Payment Adjustments, etc......................................................................................588.5. Indemnification Procedures ...................................................................................598.6. Survival of Representations and Warranties, etc ...................................................60ARTICLE IXDefinitions9.1. Definition of Certain Terms...................................................................................619.2. Construction...........................................................................................................71ARTICLE XMiscellaneous10.1. Expenses ................................................................................................................7210.2. Severability ............................................................................................................7210.3. Notices ...................................................................................................................7210.4. Miscellaneous. .......................................................................................................7310.4.1. Headings ..............................................................................................7310.4.2. Entire Agreement.................................................................................7310.4.3. Counterparts.........................................................................................7410.4.4. Governing Law, etc..............................................................................7410.4.5. Binding Effect......................................................................................7510.4.6. Assignment ..........................................................................................7510.4.7. No Third Party Beneficiaries ...............................................................7510.4.8. Amendment; Waivers, etc....................................................................7610.4.9. Foreign Currencies...............................................................................7621764211v18iv