Asset and Land Purchase Agreement資產(chǎn)與土地購買合同-3

-17-AssetandLandPurchaseAgreement資產(chǎn)與土地購買合同核心提示：THISTHIRDAMENDMENTTOASSETANDLANDPURCHASEAGREEMENT(ThirdAmendment)isexecutedasofthe_________(M/D/Y),byandamongAAA,INC.,BBBCORPORATIONandCCCCORPORATION(collectively,Sellers)andDDD,LLC,EEE,FFFCO.,LLC.,a_________(STATHISTHIRDAMENDMENTTOASSETANDLANDPURCHASEAGREEMENT(ThirdAmendment)isexecutedasofthe_________(M/D/Y),byandamongAAA,INC.,BBBCORPORATIONandCCCCORPORATION(collectively,Sellers)andDDD,LLC,EEE,FFFCO.,LLC.,a_________(STATE)limitedliabilitycompanyandGGG,LLC,a_________(STATE)limitedliabilitycompany;togetherwithFFF,EEEandDDD,thePurchaser).RECITALSA.SellersandPurchaserexecutedthatcertainAssetandLandPurchaseAgreementdatedasof_________(M/D/Y)pursuanttowhichSellershaveagreedtosellandPurchaserhasagreedtopurchaseTheDesertInnHotelandCasinoandotherrelatedassets(theOriginalPurchaseAgreement).B.TheOriginalPurchaserAgreementwasamendedbyaFirstAmendmenttoAssetandLandPurchaseAgreement,executedasof_________(M/D/Y)(theFirstAmendment)andPurchaser’srightsandobligationsundertheOriginalPurchaseAgreement,asamended,werepartiallyassignedtoFFFandGGGpursuanttoAssignmentandAssumptionAgreements.C.TheOriginalPurchaseAgreementwasfurtheramendedbyaSecondAmendmenttoAssetandLandPurchaseAgreement,executedasof_________(M/D/Y)(theSecondAmendment).TheOriginalPurchaseAgreementasamendedbytheFirstAmendmentandtheSecondAmendmentandaspartiallyassigned,isreferredtohereinasthePurchaseAgreement).D.PurchasershavenowreceivedallGamingPermitsapprovalsnecessarytoconsummatethetransactionscontemplatedbytheAgreement,asheretoforeamended,andthepartiesthereforeintendtoclosethistransactiononsiteattheBusinesseffectiveasof12:01a.m.,_________(M/D/Y).E.InpreparationfortheClosing,thepartieshavefoundthemselvesindisputeoveranumberofitemswhichtheywishtoresolvefullyandfinallypriortoClosing.NOW,THEREFORE,inconsiderationoftheforegoingRecitals,thecovenantsandagreementssetforthbelowandforothergoodandvaluableconsideration,thereceiptandsufficiencyofwhichareherebyacknowledged,thepartiesherebyagreeasfollows:AMENDMENT1.CapitalizedtermsnototherwisedefinedhereinshallhavethemeaningsassignedtothemintheminthePurchaseAgreement.2.ThePurchaseAgreementisherebyamendedbyaddingtheretonewSection1.4asfollows:Section1.4.Short-TermDisabilityClaims.Sellersmaintainablanketshort-termdisabilityinsurancepolicyfortheiremployeesthroughaself-fundedshort-termdisabilitypolicyadministeredthroughHartfordInsuranceCompanies(STDPolicy).SellershaveadvisedPurchaserandPurchaserhasagreedthatitwouldnotbepracticaltoterminatetheSTDPolicyastotheBusinesspriorto_________(M/D/Y)(theTermDate).Accordingly:(i)SellersshallreceiveacreditandPurchaseradebitasagainstthePurchasePriceintheamountof$,_________,reflectingSellers’liabilitynotreflectedinthebooksandrecordsofCCCfordaysofdisabilitypay(DisabilityDays)SellerswillberequiredtopayattributableonaccountofDisabilityDaysfromandafter_________(M/D/Y),undercurrentlypendingclaimsundertheSTDPolicy.(ii)Sellerswillberesponsible(a)toadministerallclaimsmadeontheSTDPolicypriortotheTermDateand(b)topay,withoutreimbursement,foranyDisabilityDaysoccurringthrough_________(M/D/Y)forwhichclaimsaremadewithin90daysoftheoccurrenceorpurportedoccurrencegivingrisetosuchclaim;notwithstandinganythingtothecontrarycontainedinthePurchaseAgreement,claimsforsuchDisabilityDaysshallnotbedeemedincludedinAssumedLiabilities;(iii)Purchasershallberesponsible(a)topayallDisabilityDaysincurredfromandafterClosing,whetherornotsuchDisabilityDaysrelatetoadisabilityfirstoccurringorcommencingbeforeorafterClosingand(b)topayor,atPurchaser’ssolecostandexpense,defendagainstclaimsforDisabilityDaysoccurringpriorto_________(M/D/Y)whichwerenottimelyreported(i.e.within90daysoftheoccurrenceorpurportedoccurrence)andtheliabilitythereforshall,ineachcase,notwithstandinganyprovisiontothecontrary,constituteandbeincludedasanAssumedLiability.SellerswillinvoicePurchaserinoneormoreinstallmentsforanysuchDisabilityDay,andPurchasershall,onpresentationofappropriateback-upmaterialsasrequiredbelow,reimburseSellerswithinten(10)daysofinvoicetherefor,orinthecaseofclause(b)commence,atitscosts,defensethereagainst.Purchaseragreesthatsuchinvoicesnotpaidwhendueshallbearinterestat10%perannumuntilpaid.Sellersshallprovidesuchreasonableback-upmaterialsasarenecessarytoallowPurchasertoevaluatetheclaimssubmitted,ifany.SellershaveadvisedPurchaserofSellers’normalpracticeofinvoicingindividualpropertiescoveredundertheSTDPolicyonlyaftertheendofeachcalendaryear.Sellersreservetheright,attheirsolediscretion,tocontinuesuchpracticeortoinvoicePurchaserperiodically.(iv)SellersshallcausetheSTDPolicytobeterminatedastotheBusinessforperiodscommencingfromandafter_________(M/D/Y)andPurchasershallbesolelyresponsibleforitsownshorttermdisabilitypoliciesfromandaftersuchdate.3.Section1.5ofthePurchaseAgreement,includingwithoutlimitationallreferencesthereintoGAAPandortoconsistencywithpastpractices,isherebydeemedamendedandmodifiedtoreflecteachofthefollowingagreementsoftheparties,whichshallapplyinthecalculationofboththeEstimatedClosingNetCapitalWorkingAmountandforthefinalcalculationsoftheClosingNetWorkingCapital:(a)TheCapitalExpenditureAdjustmentAmountis$,_________.(b)Currentliabilitiesshallbedeemedtoincludeonly35.565%(632,dividedby1,777)ofthefaceamountofliabilitiesforchipsandtokensoutstandingonSellers’booksandrecordsasofClosing.(c)Reservesof37%offaceamountsofaccountsreceivableshallbeconclusivelydeemedreasonable,consistentwithCCC’spastpracticesandtheReferenceBalanceSheet,GAAPandsoundaccountingpracticesinthehotelandcasinoindustry.Purchaser’ssoleinquiry,pursuanttoSection1.5(b)ofthePurchaseAgreementandotherwise,withrespecttothenetamountofaccountsreceivableincludedinClosingNetWorkingCapitalshallbetoverifytheexistenceofamarker,evidenceofindebtednessorotherdocumentationsupportingthefaceamountofeachaccountreceivable.(d)PurchaserwillnotacquireSellers’cashinbankorRimtechcashandsuchitemshavethereforebeenexcludedfromcurrentassets.(e)TheEstimatedClosingNetWorkingCapitalAmountshallbeconclusively$3,335,000,whichamountisbasedontheCCCbalancesheetdatedasof_________(M/D/Y),adjustedasshownontheworksheetattachedheretoasSchedule1.(f)ForpurposesofdeterminingClosingNetWorkingCapital,roomreceiptsforroomsoccupiedduringthenightonwhichtheClosingshalloccur(i.e.,fromthenightof_________(M/D/Y)tothemorningof_________(M/D/Y)),shallbedividedequallybetweenSellerandPurchaser,withSellers’onehalfsharebeingcreditedtotheClosingNetWorkingCapital.(g)AsPurchasercompletestheinitialtrue-upofcurrentassetsandcurrentliabilities,includingtheinitialresultsofpre-Closing/Closingcountsofinventory,cashonhand,chipsandtokens,andaccountsreceivable,aswellasgeneralledger,subledgersandfinaldataconcerningSellers’liabilityfortheStarwoodPreferredGuestProgram,currentlyestimatedat$,_________,Purchaserwillpromptlyandinalleventswithinfifteen(15)daysfollowingtheClosingdelivertoSellersallrelevantdataandBackupMaterialregardingsuchitems.UponreceiptofallsuchdataandBackupMaterial,Sellersshallhaveanadditionalfifteen(15)dayswithinwhichtofinalizeanddelivertoPurchaserSeller’supdatedcalculationofEstimatedNetClosingWorkingCapital(theUpdatedCalculation).Purchasershallthenhavethebalanceoftheoriginalninety(90)dayperiodcontemplatedbySection1.5(b)ofthePurchaseAgreement,todelivertoSellersPurchaser’scalculationofClosingNetWorkingCapitalandBackupMaterial.ThefailureofPurchasertoprovidesuchcalculationandsuchBackupMaterialshallbeconclusivelydeemedPurchaser’sacceptanceoftheUpdatedCalculationifSellershavesubmittedsame,orofSellers’calculationofEstimatedClosingNetWorkingCapital($,_________)ifSellersshallfailtimelytosubmittheUpdatedCalculation.Subsection(g),above,shallnotbeconstruedtosupersedethedisputeresolutionprovisionssetforthinSection1.5(c)ofthePurchaseAgreement.However,totheextentofanyinconsistencybetweenthetermsofthisSection3andthetermsoftheOriginalPurchaseAgreementandanyprioramendmentthereto,thetermsofthisSection3shallbecontrolling.4.Section2.2ofthePurchaseAgreementisherebyamendedtoreflectthefollowing:(i)ClosingshalltakeplaceattheofficesoftheBusiness,_________,at12:01a.m.,_________(M/D/Y).(ii)TheitemsreferredtoinSection2.2(b)(ii)-(iv)shallbeaccomplishedbydeliverytoEscroweeofthedocumentsreferredtothereinonorbeforethecloseofbusiness_________(M/D/Y),withallofwhichitemsanddocumentsSellers’counselandPurchaser’scounselhaveacknowledgedtheirsatisfaction.(iii)Escrowee,throughanauthorizedrepresentative,shallattendtheClosing,shallcountersignClosingescrowinstructionsapprovedbySellersandPurchaser,shallissueanundertakinginfavorofPurchaserandSellerstodisbursefundsandrecordallrecordabledocumentsimmediatelyupontheopeningofbusinesson_________(M/D/Y),andshallcauseEscrowee’sparentcorporation,CommonwealthLandTitleInsuranceCompany,toissueaninsuredclosingletterinfavorofSellerswhichissatisfactorytoSellersintheirsolediscretion.(iv)Section2.2(d)(i)isherebydeletedinitsentirety.5.PurchaseracknowledgesthatfromtimetotimesincethedateoftheOriginalPurchaseAgreementSellershave,directlyorthroughtheircounsel,advisedPurchaserofadditionalfacts,includinglitigationandadditionalcontracts,notpreviouslyscheduledintheOriginalPurchaseAgreement.PurchaserfurtheracknowledgesthatwithrespecttothoseContractsforwhichconsentisrequiredinconnectionwiththeassignmentthereof,Sellershaverequestedsuchconsents,themajorityofwhichrequestshavenotbeenanswered.SellersmakenorepresentationorwarrantyastotheefficacyofanyassignmentorpurportedassignmentofsuchContracts.6.WithrespecttoSection6.6ofthePurchaseAgreement,thepartiesacknowledgethattheyhavenotyetreceivedPUCapprovalforthetransferoftheDIICShares.Accordingly,solelyforpurposesofagreeingupontheformofdocumentationandtoavoidthenecessityofasubsequentclosing,thepartiesare,concurrentlywiththeClosing,depositingwithEscroweeundatedlostcertificateaffidavits,stockpowers,assignmentandassumptionagreementsandotherdocuments,includingundatedresignationsofcertainofficersanddirectorsofDIICandhaveinstructedEscroweetowithholdfromthePurchasePricetobedisbursedtoSellersatClosingtheamountoftheDIICSharesConsideration,whichmoniesshallnotbedisbursedtoSellersexceptuponlawfultransferoftheDIICShares.ThepartiesagreethattheDIICSharesConsiderationshallconstitutethatportionofthePurchasePricewhichisallocabletotheDIICShares,whichthepartiesagreeis$,_________.7.Thedraftescrowsettlementstatement,attachedheretoasSchedule2,accuratelyreflectstheParties’agreementastoallocationofthepurchasepricetoRealPropertyAssetsandtheStarwoodTimeshareInterestsandtheDITimeshareInterests.8.Section11.1ofthePurchaseAgreementisherebyamendedasfollows:(a)TheprovisioninClause(r)ofthedefinitionofAssetssetforthinSection11.1ofthePurchaseAgreementisamendedtoprovideasfollows:provided,however,anamountequalto64.435%oftheliabilitiesrepresentedbythechipsandtokensincirculationshallbeexcludedfromthecalculationofClosingNetWorkingCapitalandtheobligationtoredeemallchipsandtokensshallbeanAssumedLiability.(b)ThedefinitionofAssumedLiabilitiesisamendedbyaddingthefollowingtotheendofSubsection(i)thereof,priorto;:andkenotickets9.SellersshallreceiveacreditatClosingforthesumofoutstandingchargesdueundertheOccupancyAgreementdated_________(M/D/Y)betweenCCContheonehandandEEEandDDDontheotherhand,andsubjecttoSection3(g)ofthisAmendment,Purchasershallre