CompUSA 2015 Annual Report Download - page 76
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Please find page 76 of the 2015 CompUSA annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.(b)IfanycustomerContractoftheBusiness(excludinganypurchaseorderorweborder)orCanadianvendorContractoftheBusinesswas
notmadeavailabletoPurchaserintheVDR(each,an“UndisclosedContract”),SellersshallmaintainallUndisclosedContractsforthebenefitofPurchaserand
nottake anyactiontoterminate (or forgoanyactionwhichwould resultinatermination of) anyUndisclosedContractuntil,with respect toeachUndisclosed
Contract,SellershaveidentifiedsuchUndisclosedContracttoPurchaserandprovidedPurchaseratleasttendaysfollowingsuchidentificationtoelecttotreatsuch
UndisclosedContractasaSellerContracthereunder,includingasanAssumedLiability(measuredfromthedateofPurchaser’selection),whichassumptionby
PurchaserasanAssumedLiabilitymaybelimitedsolelytotheUndisclosedContract’sapplicationtotheBusiness.
1.6 Certain Purchased Asset and Assumed Liability Transfers .
(a)NotwithstandinganythinginthePurchaseAgreementtothecontrary,titletothefollowingPurchasedAssetsshallnotbetransferredto
PurchaserontheClosingDate,butshallinsteadbetransferredtoPurchaserontheearliertooccurof(i)thecompletionofSeller’sInventoryLiquidation,or(ii)
February15,2016(the“WebsiteCutoverDate”):
(i)The URLwww.TigerDirect.comandall URLsusedinconnection withtheoperationof theTigerDirectwebsite;theURL
www.tigerdirect.ca,andallURLsusedinconnectionwiththeoperationoftheTigerDirect.cawebsite;theURLwww.globalcomputer.comandallURLsusedin
connectionwiththeoperationoftheGlobalComputerwebsite;theURLwww.infoteldistributors.comandallURLsusedinconnectionwiththeoperationofthe
Infotel website; and the URL www.globalgoved.com and all URLs used in connection with the operation of the Global Gov Ed website (collectively, the “
ContinuedWebsites”);
(ii)allsoftwarerelatedtotheContinuedWebsites;and
(iii)theCutoverContractssetforthonSchedule1.1(e)ofthePurchaseAgreement.
(b)NotwithstandinganythinginthePurchaseAgreementtothecontrary,theCutoverContractsshallnotbeassumedbyPurchaseronthe
ClosingDate,butshallinsteadbeassumedbyPurchaserontheWebsiteCutoverDate.AnyLiabilityarisingaftertheWebsiteCutoverDateundertheCutover
Contracts that have been made available to Purchaser in the VDR shall be an Assumed Liability, but (i) only to the extent such obligations arise or are to be
satisfiedaftertheWebsiteCutoverDate,(ii)onlytotheextentsuchobligationsdonotarisefromorrelatetoanybreachbyaSellerofanyprovisionofanyofsuch
CutoverContractotherthanabreachexpresslydisclosedtoPurchaserhereunderonSection6.5oftheSellerDisclosureSchedule(ifany),(iii)onlytotheextent
suchobligationsdonotarisefromorrelatetoanyevent,circumstanceorconditionoccurringorexistingonorpriortotheWebsiteCutoverDatethat,withnotice
orlapse of time,wouldconstituteorresultina breach ofanyofsuchCutover Contracts other thananysuchpotentialbreachexpressly disclosed to Purchaser
hereunder on Section 6.5 of the Seller Disclosure Schedule (if any), and (iv) subject to subparts (i), (ii) and (iii) of this subsection, only to the extent such
obligationsariseunderCutoverContractsforwhichthefulltextoftheCutoverContracthasbeendisclosed(itbeingunderstoodthatifthetextofanysuchCutover
Contract has not been disclosed to Purchaser or its Representatives due to confidentiality or other restrictions (it being understood that disclosure limited to
Purchaser’sRepresentativesshallconstitutevaliddisclosurehereunderandanysuchCutoverContractsodisclosedisherebyassumedbyPurchasertotheextent
madeavailableintheVDR)suchCutoverContractshallconstituteanUndisclosedContractandshallbesubjecttothetermsandconditionsofSection1.5(b).
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