CompUSA 2015 Annual Report Download - page 84
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Please find page 84 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.4.7 Reasonable Commercial Efforts .FromthedateofthisAgreementuntiltheClosing,eachofSystemaxandSellersontheonehand,andPCM
andPurchaserontheotherhand,shallusetheirrespectivereasonablecommercialeffortstocausetobefulfilledandsatisfiedalloftheotherparty’sconditionsto
ClosingsetforthinARTICLE3.
4.8 Purchaser Replacement Guaranties . InconnectionwithSellersobtainingtheconsentsfortheassignmentoftheLeasedRealProperty(or
consent to sublease pursuant to the Real Property Subleases), Purchaser or PCM shall provide replacement guaranties in form and substance similar to the
guaranties being terminated by Sellers and otherwise satisfactory to the respective landlords. No Seller shall terminate any such guaranty prior to the valid
assignmentoftheLeasedRealPropertytoPurchaser(orpriortoreceivingconsenttosubleasepursuanttotheRealPropertySubleases).
ARTICLE 5.
TERMINATION
5.1 Circumstances for Termination .AtanytimepriortotheClosing,thisAgreementmaybeterminatedbywrittennoticeexplainingthereason
forsuchtermination(withoutprejudicetootherremedieswhichmaybeavailabletothepartiesunderthisAgreementorpursuanttoanyLegalRequirement):
(a)bythemutualwrittenconsentofPurchaserandSeller;
(b)byPurchaserif(i)SellershavenotsatisfiedalloftheclosingconditionssetforthinSection3.2hereofpriortoDecember31,2015(the“
DropDeadDate”),and(ii)neitherPurchasernorPCMis,onthedateoftermination,inmaterialbreachofanymaterialprovisionofthisAgreement;or
(c)bySellersif(i)PurchaserhasnotsatisfiedalloftheclosingconditionssetforthinSection3.3hereofonorpriortotheDropDeadDate,
and(ii)Sellersarenot,onthedateoftermination,inmaterialbreachofanymaterialprovisionofthisAgreement.
5.2 Effect of Termination .IfthisAgreementisterminatedinaccordancewithSection5.1,allobligationsofthepartieshereunderafterthedateof
such termination shall terminate; provided , however , that nothing herein shall relieve any party from Liability for the pre-termination breach of any of its
covenantsoragreementssetforthinthisAgreement.
ARTICLE 6.
REPRESENTATIONS AND WARRANTIES OF SELLERS
Subject to Section 11.9 , except as disclosed in any publicly available current, quarterly or annual report filed by Systemax with the Securities and
ExchangeCommissionsinceJanuary1,2015andbeforethedateofthisAgreement(the“SECFilings”),orasspecificallysetforthonSchedule6(the“Seller
Disclosure Schedule ”) attached to this Agreement, Sellers, jointly and severally, hereby represent and warrant as of thedate of this Agreement and as of the
ClosingDate(withoutlimitinganyotherrepresentationsorwarrantiesmadebySellersinthisAgreementoranyotherTransactionAgreement)toPurchaserand
PCMasfollows,andSellersagreeandacknowledgethateachofPurchaserandPCMisrelyingupontherepresentationsandwarrantiesinconnectionwiththe
Transaction:
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