CompUSA 2015 Annual Report Download - page 104

9.5 Compliance with Legal Requirements and Other Obligations .PriortotheClosing,attheirsolecostandexpense,Sellersshalltakeall
actionsnecessarytocomplywithallappropriateLegalRequirementsinconnectionwithSellers’employmentofitsemployees,includinganyLegalRequirements
under the Worker Readjustment and Notification Act (29USC Sec. 2101) and all applicable state laws orprovincial laws of similar effect (collectively, the “
WARNActs”).EachoftheSellersshallbesolelyresponsible,beforeandaftertheClosing,forthepaymentofanyamountsrequiredtobepaidunderanyLegal
Requirement,includingtheWARNActs,asaresultoftheterminationorlayoffofanyemployeebysuchSeller.
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9.6 No Benefit to Seller Employees Intended .ThisARTICLE9isnotintendedto,anddoesnot,createanyrightsorobligationstoorforthe
benefitofanyoneotherthanPurchaserandSellers.
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ARTICLE 10.
INDEMNIFICATION
10.1 Survival of Representations and Warranties .AllrepresentationsandwarrantiesofSellers,PurchaserandPCMinthisAgreementorany
otherTransactionAgreementshallsurvivetheClosingforaperiod of12months(the“ SurvivalDate”);provided,however,that (a)allrepresentations and
warranties contained in Sections 6.1 , (Organization, Good Standing, Qualification), 6.3(Authority; Binding Nature of Agreements), 6.7(Title; Condition of
Assets),and6.17(Brokers)shallsurvivetheClosingindefinitely;(b)allrepresentationsandwarrantiescontainedinSection6.16(Taxes)shallsurvivetheClosing
until60daysafterexpirationofallapplicablestatutesoflimitations(aftergivingeffecttoanywaiversandextensionsthereof)(therepresentationsandwarranties
enumeratedinsubparts(a)and(b)ofthissentence,collectively,the“FundamentalRepresentations”);and(c)anyclaimforindemnificationbaseduponabreach
of any such representation orwarranty and asserted prior to theSurvival Date by written notice inaccordance with this ARTICLE10shallsurviveuntilfinal
resolution of such claim.  Purchaser and Sellers expressly waive the statute of limitations otherwise applicable to contract claims to the extent such statute of
limitations is shorter than the survivalperiods established hereunder and would otherwise bar suchclaim (it being expressly acknowledged that Purchaser and
Sellers are not waiving any statute of limitations with respect to any claims made by any other party).  The representations and warranties contained in this
Agreement(andanyrighttoindemnificationforbreachthereof)shallnotbeaffectedbyanyinvestigation,verificationorexaminationbyanypartyheretoorby
any Representative of any such party or by any such party’s knowledge of any facts with respect to the accuracy or inaccuracy of any such representation or
warranty.
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10.2 Indemnification by Sellers .SystemaxandeachSellershall,jointlyandseverally,indemnify,defendandholdharmlessPurchaserandits
Representatives(collectively,the“PurchaserIndemnifiedPersons”)fromandagainstanyandallDamages(collectively,“PurchaserDamages”)(withrespectto
subparts(a)through(e)below,whetherornotinvolvingathirdpartyclaim, andwithrespect tosubparts(f)and(g),solelywithrespect tothirdparty claims),
arisingoutof,relatingtoorresultingfrom(a)anybreachorinaccuracyofarepresentationorwarrantyofaSellercontainedinthisAgreementorinanyother
Transaction Agreement; (b) any breach of a covenant of a Seller contained in this Agreement or in any other Transaction Agreement; (c) Excluded Assets,
ExcludedBusinessorExcludedLiabilities(andSellers’failuretosatisfyanyExcludedLiability);(d)anynoncompliancewithapplicablebulksalesorfraudulent
transfer Legal Requirements in connection with the Transaction (it being understood that the Sellers shall not be responsible for Damages incurred by the
Purchaser by reason of the Purchaser’s failure to satisfy, discharge, perform or fulfill the Assumed Liabilities) ; (e) any Purchaser Damages arising out of
Purchaser’sfailuretodeductorwithholdanyTaxesfromanyamountpaidbyPurchasertoSellersthatPurchaserwasrequiredtodeductandwithholdunderany
applicableLegalRequirement;(f)anyclaimrelatedtowages,Taxes,employmentmatters,benefitsorsimilarclaimsthatariseoutoforconnectionwithSellers’
offeringorpaymentofcompensationoranyotheractsoromissionsofSellersrelatedtomattersdescribedinSection9.2;and(g)anyclaimforanyviolationby
SellersofthatcertainAssuranceforVoluntaryCompliance,datedSeptember2015,byandamongSystemax,TigerDirect,Inc.andtheStateofFlorida;provided
thatforpurposesofdeterminingwhetheranybreachorinaccuracyinanyrepresentations,warrantiesorcovenantshasoccurredandforthepurposesofcalculating
PurchaserDamagesresultingtherefrom(butnotforpurposesofdeterminingsatisfactionofclosingconditionspursuanttoARTICLE3hereof),therepresentations
andwarrantiesinthisAgreementandinanyotherTransactionAgreementshallbedeemedtohavebeenmadewithoutanyqualifications astomaterialityand,
accordingly,allreferenceshereinandthereinto“material,”“inallmaterialrespects,”“MaterialAdverseEffect”andsimilarqualificationsastomaterialityshallbe
deemedtobedeletedtherefrom.
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