CompUSA 2015 Annual Report Download - page 94
Download and view the complete annual report
Please find page 94 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.(c)EachSellerhasproperlywithheldandtimelypaidtotheproperTaxAuthorityallTaxesrequiredtohavebeenwithheldandpaidin
connectionwithamountspaidorowingtoanyemployee,independentcontractor,creditororotherthirdpartyrelatedtotheBusiness,andhascompliedwithall
informationreportingandbackupwithholdingrequirements,includingmaintenanceofrequiredrecordswithrespecttheretoinconnectionwithanyamountspaid
toanysuchPerson.
(d)NoSellerContractisaTaxindemnityagreement,TaxsharingagreementorsimilarContract.NoSellerContractcreatesajointventure,
partnership,orotherarrangementwhichcouldbetreatedasapartnershipor“disregardedentity”forUnitedStatesfederalincometaxpurposes.
(e)EachSellerhastreateditselfasownerofeachofthePurchasedAssetsforTaxpurposes.NoneofthePurchasedAssetsisthesubjectofa
“safe-harborlease”withintheprovisionsofformerSection168(f)(8)oftheCode,asineffectpriortoamendmentbytheTaxEquityandFiscalResponsibilityAct
of1982.NoneofthePurchasedAssetsdirectlyorindirectlysecuresanydebt,theinterestonwhichistaxexemptunderSection103(a)oftheCode.Noneofthe
PurchasedAssetsis“tax-exemptuseproperty”withinthemeaningofSection168(h)oftheCode.
(f)EachSeller(otherthanTigerDirectCA,Inc.)isa“UnitedStatesperson”withinthemeaningofSection7701(a)(30)oftheCode.
(g)Other than any of the Purchased Assets beingsold by TigerDirect CA Inc, (“ CanadianSeller”),none of the Purchased Assetsare
“taxableCanadianproperty”oftheSellerswithinthemeaningoftheIncome Tax Act (Canada)(the“ITA”).CanadianSellerisnotanon-resident ofCanada
withinthemeaningoftheITA.CanadianSellerisaregistrantforthepurposesofthetaximposedunderPartIXoftheExcise Tax Act (Canada)(the“ETA”)and
itsregistrationnumberis103676441RN0001.NoSeller,otherthantheCanadianSeller,is(orisrequiredtobe)registeredforthepurposesofthetaximposed
underPartIXoftheETA.
6.17 Brokers .SystemaxhasretainedabrokerorfinderinconnectionwiththeTransaction.Systemaxwillpayallresultingbrokerfees.
6.18 No Delay .SellersarenotenteringintotheTransactionwiththeintenttohinder,delayordefraudanyPersontowhichitis,ormaybecome,
indebted.
6.19 No Other Agreement .Otherthanforsalesofassetsintheordinarycourseofbusiness,neitherSellernoranyofitsRepresentativeshasentered
intoanyContractwithrespecttothesaleorotherdispositionofthePurchasedAssetsexceptassetforthinthisAgreement.
22