CompUSA 2015 Annual Report Download - page 80

Download and view the complete annual report

Please find page 80 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

(xvi)Suchothercertificates,instrumentsordocumentsrequiredpursuanttotheprovisionsofthisAgreementorotherwisenecessary
or appropriate to transfer the Purchased Assets and Assumed Liabilities in accordance with the terms hereof and consummate the Transaction, and to vest in
Purchaseranditssuccessorsandassignsfull,complete,absolute,legalandequitabletitletothePurchasedAssets,freeandclearofallEncumbrances(otherthan
PermittedEncumbrances).
3.3 Sellers’ Conditions .SellersobligationtoconsummatetheTransaction,andtotaketheotheractionsrequiredtobetakenbySellersatthe
Closing,issubjecttothesatisfaction,atorpriortotheClosing,ofeachofthefollowingconditions(anyofwhichmaybewaivedbySellersinwholeorinpart,in
writing):
(a)Performance.EachofthecovenantsandobligationsthatPurchaserorPCMisrequiredtoperformortocomplywithpursuanttothis
AgreementatorpriortotheClosingmusthavebeendulyperformedandcompliedwithinallmaterialrespects.
(b)AccuracyofRepresentationsandWarranties.EachofPurchaser’sandPCM’srepresentationsandwarrantiesinthisAgreementmustbe
accurate(i)inallrespects(inthecaseofanyrepresentationorwarrantyqualifiedbymaterialityorasimilarterm);or(ii)inallmaterialrespects(inthecaseofany
representationorwarrantynotqualifiedbymaterialityorasimilarterm),ineachcaseasoftheClosingDate(exceptrepresentationsandwarrantiesthataddress
mattersonlyasofaspecifieddate,theaccuracyofwhichshallbedeterminedasofthespecifieddate).
(c)NoProceedings.TheremustnothavebeencommencedorthreatenedagainstSystemaxoranySelleranyProceedingbyaGovernmental
Authority(i)involvinganychallenge to,orseeking Damagesorother reliefinconnectionwith, theTransaction,or (ii)thatmayhavetheeffectof preventing,
makingillegalorotherwisemateriallyinterferingwiththeTransaction.
(d)Deliveries . Purchaser shall deliver, and PCM shall cause Purchaser to deliver, the following items, duly executed by Purchaser, as
applicable,allofwhichshallbeinaformandsubstancereasonablyacceptabletoSellersandSellers’counsel:
(i)WiretransferstotheaccountsdesignatedbySellersintheaggregateamountofthePurchasePrice;
(ii)TheAssignmentandAssumptionAgreement;
(iii)TheNoncompetitionAgreement;
(iv)TheRealPropertySubleases;
(v)TheIPAssignmentAgreements;
8