CompUSA 2015 Annual Report Download - page 76

Download and view the complete annual report

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.

Page out of 155

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155

(b)IfanycustomerContractoftheBusiness(excludinganypurchaseorderorweborder)orCanadianvendorContractoftheBusinesswas
notmadeavailabletoPurchaserintheVDR(each,an“UndisclosedContract”),SellersshallmaintainallUndisclosedContractsforthebenefitofPurchaserand
nottake anyactiontoterminate (or forgoanyactionwhichwould resultinatermination of) anyUndisclosedContractuntil,with respect toeachUndisclosed
Contract,SellershaveidentifiedsuchUndisclosedContracttoPurchaserandprovidedPurchaseratleasttendaysfollowingsuchidentificationtoelecttotreatsuch
UndisclosedContractasaSellerContracthereunder,includingasanAssumedLiability(measuredfromthedateofPurchaser’selection),whichassumptionby
PurchaserasanAssumedLiabilitymaybelimitedsolelytotheUndisclosedContract’sapplicationtotheBusiness.
1.6 Certain Purchased Asset and Assumed Liability Transfers .
(a)NotwithstandinganythinginthePurchaseAgreementtothecontrary,titletothefollowingPurchasedAssetsshallnotbetransferredto
PurchaserontheClosingDate,butshallinsteadbetransferredtoPurchaserontheearliertooccurof(i)thecompletionofSeller’sInventoryLiquidation,or(ii)
February15,2016(the“WebsiteCutoverDate”):
(i)The URLwww.TigerDirect.comandall URLsusedinconnection withtheoperationof theTigerDirectwebsite;theURL
www.tigerdirect.ca,andallURLsusedinconnectionwiththeoperationoftheTigerDirect.cawebsite;theURLwww.globalcomputer.comandallURLsusedin
connectionwiththeoperationoftheGlobalComputerwebsite;theURLwww.infoteldistributors.comandallURLsusedinconnectionwiththeoperationofthe
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 “
ContinuedWebsites”);
(ii)allsoftwarerelatedtotheContinuedWebsites;and
(iii)theCutoverContractssetforthonSchedule1.1(e)ofthePurchaseAgreement.
(b)NotwithstandinganythinginthePurchaseAgreementtothecontrary,theCutoverContractsshallnotbeassumedbyPurchaseronthe
ClosingDate,butshallinsteadbeassumedbyPurchaserontheWebsiteCutoverDate.AnyLiabilityarisingaftertheWebsiteCutoverDateundertheCutover
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
satisfiedaftertheWebsiteCutoverDate,(ii)onlytotheextentsuchobligationsdonotarisefromorrelatetoanybreachbyaSellerofanyprovisionofanyofsuch
CutoverContractotherthanabreachexpresslydisclosedtoPurchaserhereunderonSection6.5oftheSellerDisclosureSchedule(ifany),(iii)onlytotheextent
suchobligationsdonotarisefromorrelatetoanyevent,circumstanceorconditionoccurringorexistingonorpriortotheWebsiteCutoverDatethat,withnotice
orlapse of time,wouldconstituteorresultina breach ofanyofsuchCutover Contracts other thananysuchpotentialbreachexpressly 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
obligationsariseunderCutoverContractsforwhichthefulltextoftheCutoverContracthasbeendisclosed(itbeingunderstoodthatifthetextofanysuchCutover
Contract has not been disclosed to Purchaser or its Representatives due to confidentiality or other restrictions (it being understood that disclosure limited to
Purchaser’sRepresentativesshallconstitutevaliddisclosurehereunderandanysuchCutoverContractsodisclosedisherebyassumedbyPurchasertotheextent
madeavailableintheVDR)suchCutoverContractshallconstituteanUndisclosedContractandshallbesubjecttothetermsandconditionsofSection1.5(b).
4