CompUSA 2014 Annual Report Download - page 133

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ARTICLE II
PURCHASE AND SALE; CLOSING; PURCHASE PRICE
2.1 Purchase and Sale. At the Closing, and upon all of the terms and subject to all of the conditions of this Agreement, the Seller
agrees to sell, assign, convey and deliver to the Buyer, and the Buyer agrees to purchase and accept from the Seller, the Purchased
Equity, free and clear of all Liens. At the Closing, and upon all of the terms and subject to all of the conditions of this Agreement, the
Seller agrees to sell, assign, convey and deliver to the Mexican Buyer, and the Mexican Buyer agrees to purchase and accept from the
Seller, ninety-nine and 9961/1000 percent (99.9961%) of the issued and outstanding equity of C&H Productos (“Mexican Purchased
Equity”), free and clear of all Liens.
2.2 The Closing. The Closing shall take place on the third business day following the
day on which the satisfaction or waiver of all conditions to the obligations of the Parties to consummate the transactions contemplated hereby
occurs (other than conditions with respect to actions the Parties will take at the Closing itself), or such other time and date as the Parties may
mutually determine in writing (the “Closing Date”).
2.3 Consideration.
(a) Payment of Closing Amount.
At the Closing, the Buyer and Mexican Buyer shall deliver to the Seller the Closing
Amount by a wire transfer of immediately available funds to an account designated in writing by the Seller.
(b) Payment of Escrowed Amount.
At the Closing, the Buyer shall deliver to the Escrow Agent the Escrowed Amount
pursuant to the Escrow Agreement, dated as of the Closing Date. The Escrowed Amount shall be a non-
exclusive, first source of recourse for any
and all liabilities of the Seller pursuant to a Claim under Article VIII of this Agreement. The Escrowed Amount shall be held in escrow for a
period ending twelve (12) months after the Closing Date. The Buyer shall first seek recovery from the escrow until such escrow amount has a $0
balance before seeking recovery against the Seller directly. On the next business day following the twelve (12) month anniversary of the Closing
Date, the Escrow Agent will pay to the Seller the balance of the Escrowed Amount. Notwithstanding the foregoing, if on such date, any Claim
by the Buyer has been made and the Buyer has notified the Seller and the Escrow Agent of such Claim, there will be withheld from the
distribution to the Seller such amount of the Escrowed Amount as is necessary to cover the Loss resulting from such claim, and such withheld
amount will be retained in the escrow pursuant to the terms of the Escrow Agreement. Upon resolution of such claim the remaining amount of
the Escrow Amount will be paid to the Buyer and/or the Seller in accordance with the terms of the Escrow Agreement and Article VIII.
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