CompUSA 2015 Annual Report Download - page 77
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Please find page 77 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.ARTICLE 2.
CONSIDERATION FOR TRANSFER
2.1 Purchase Price .Asfullconsiderationforthesale,assignment,transferanddeliveryofthePurchasedAssetsbySellerstoPurchaserandthe
otheragreementssetforthherein,PurchaserandPCM,jointlyandseverally,shallpaytoSellersanaggregateamountof$14,000,000(the“PurchasePrice”).
2.2 Allocation of Purchase Price .PurchasershalldelivertoSystemaxanallocationofthePurchasePrice,includingamountstreatedasLiabilities
for Tax purposes (amongst the Purchased Assets and for the other agreements set forth herein) within 90 days following the Closing Date (the “ Allocation
Schedule”).TheAllocationScheduletobedeliveredbyPurchaserisintendedtocomplywiththerequirementsofSection1060oftheCode.IfSystemaxnotifies
PurchaserinwritingthatitobjectstooneormoreitemsreflectedintheAllocationSchedule,SystemaxandPurchasershallnegotiateingoodfaithtoresolvesuch
dispute;provided,however,thatifSystemaxandPurchaserareunabletoresolveanydisputewithrespecttotheAllocationSchedulewithin60daysfollowing
Purchaser’sdeliveryoftheAllocationScheduletoSystemax,suchdisputeshallberesolvedbyKPMGLLP(the“IndependentAccountingFirm”).Thefeesand
expenses of such Independent Accounting Firm shall be borne equally by Systemax and Purchaser. The parties covenant and agree that (i) such Allocation
Schedulewillbedeterminedinanarm’slengthnegotiationandnoneofthepartiesshalltakeapositiononanyTaxReturn(includingIRSForm8594),beforeany
TaxAuthorityorinanyProceedingthatisinanywayinconsistentwithsuchAllocationSchedulewithoutthewrittenconsentoftheotherpartiestothisAgreement
or unless specifically required pursuant to a determination by an applicable Tax Authority; (ii) they shall cooperate with each other in connection with the
preparation,executionandfilingofallTaxReturnsrelatedtosuchAllocationSchedule;and(iii)theyshallpromptlyadviseeachotherregardingtheexistenceof
anyTaxauditorProceedingrelatedtosuchAllocationSchedule.
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