CompUSA 2015 Annual Report Download - page 88
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Please find page 88 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.6.7 Title; Condition of Assets .
(a)TheapplicableSellerhasgoodandmarketabletitleto,istheexclusivelegalandequitableownerofandhastheunrestrictedpowerand
right to sell, assign and deliver the Purchased Assets (except as set forth on Section 6.4, Section 6.7 or Section 6.9 ofthe Seller Disclosure Schedule). The
PurchasedAssetsarefreeandclearofallEncumbrancesofanykindornatureexceptassetforthonSection6.7oftheSellerDisclosureScheduleandotherthan
PermittedEncumbrances.UponClosing,Purchaserwillacquireexclusive,goodandmarketabletitleorlicensetooravalidleaseholdinterestin(asthecasemay
be)thePurchasedAssetsandnorestrictionswillexistonPurchaser’srighttoresell,licenseorsublicenseanyofthePurchasedAssetsorAssumedLiabilitiesor
engageintheBusinessconsistentwithitsoperationpriortoClosing(exceptassetforthonSection6.7oftheSellerDisclosureSchedule).
(b)ThetangiblePurchasedAssetsare(i)ingoodoperatingconditionandrepair,ordinarywearandtearexcepted;(ii)suitableandadequate
forcontinueduseinthemannerinwhichtheyarepresentlybeingused;and(iii)adequatetomeetallpresentrequirementsoftheBusiness.
6.8 Real Property .
(a)Section6.8oftheSellerDisclosureSchedulesetsforthanaccurate,correctandcompletelistofeachleaseorlicensepursuanttowhich
SellersleaseorlicensetheuseofanyrealpropertyusedintheBusiness.SellershavegoodandvalidleaseholdinterestintheLeasedRealPropertyandarein
possessionoftheLeasedRealPropertypurportedtobeleasedorlicensedunderthecorrespondingleaseContract.
(b)Sellersdonotcurrentlyown,andhavenotinthepastfive yearsowned,any realorimmovable property usedinthe operationofthe
Business,otherthanasdescribedonSection6.8oftheSellerDisclosureSchedule(whichpropertywassoldin2014).
6.9 Intellectual Property .ExceptassetforthonSection6.9oftheSellerDisclosureSchedule,Schedule1.2orwheretheabsenceofwhichwould
nothaveaMaterialAdverseEffect,andsubjecttoPermittedEncumbrances:
(a)Inthepast5 years, noSellerhasused any Intellectual Property Rightsmaterialtotheconductof the Businessotherthan(i)licenses
contained in vendor marketing agreements entered into in the ordinary course of business, (ii) licenses used to service PCS, (iii) web content/web services
agreementsenteredintointheordinarycourseofbusiness,and(iv)IntellectualPropertyRightslistedonSection6.9oftheSellerDisclosureSchedule.Sellers(i)
own,beneficially(andwithrespecttoSellerIntellectualPropertythatisRegisteredIntellectualProperty,ofrecord),andholdtheentireright,titleandinterestin
and to the Seller Intellectual Property, free and clear of any Encumbrance except Permitted Encumbrances; and (ii) own beneficially the Trade Secrets and
confidentialbusinessinformationincludedintheSellerIntellectualPropertyandCustomerData,freeandclearofanyEncumbrance;andupontheconsummation
oftheassignmentandtransferprovided forherein, SellerswillhaveassignedandtransferredtoPurchaseralltheirright,titleandinterestinandtosuchSeller
Intellectual Property and Customer Data free and clear of any Encumbrance except Permitted Encumbrances. To the Knowledge of the Sellers, the Seller
IntellectualPropertydoesnotinfringeanyrightsofanynaturewhatsoeverofothers.NoProceedingispendinginwhichanySellerisnamedasaparty,or,tothe
KnowledgeofSellers, has been threatened inwriting againstaSeller,nor has any claim been assertedorthreatened in writing (by or againsta Seller),which
involves any Intellectual Property Rights of or used by Sellers. No Seller is the subject of any judgment, Order, writ, injunction or decree of any court or
Governmental Authority, or any arbitrator, nor has any Seller entered into, nor is it a party to, any Contract (other than as listed on Section 6.9 of the Seller
DisclosureSchedule)whichrestrictsorimpairstheuseofanyofSellerIntellectualPropertyorCustomerData.
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