Stock Purchase Agreement股票购买合同-4

-122-StockPurchaseAgreement股票购买合同核心提示：byandamongAAABBBandCCCdatedasof_________,_________,_________(M,D,Y)ARTICLEICertainDefinitionsARTICLEIIPurchaseandSaleStock;ClosingSection2.1PurchaseandSaleSection2.2.TimeandPlaceofClosingARTICLEIIIRepresentationsabyandamongAAABBBandCCCdatedasof_________,_________,_________(M,D,Y)ARTICLEICertainDefinitionsARTICLEIIPurchaseandSaleStock;ClosingSection2.1PurchaseandSaleSection2.2.TimeandPlaceofClosingARTICLEIIIRepresentationsandWarrantiesofSellerSection3.1Incorporation;Authorization;etcSection3.2.Capitalization;StructureSection3.3.FinancialStatementsSection3.4.Properties;LeasesSection3.5.AbsenceofCertainChangesSection3.6.Litigation;OrdersSection3.7.Licenses,Approvals,OtherAuthorizations,Consents,Reports,etcSection3.8.LaborMattersSection3.9.CompliancewithLawsSection3.10.InsuranceSection3.11.MaterialContractsSection3.12.Brokers,Finders,etcSection3.13.AffiliateTransactionsSection3.14.EnvironmentalComplianceSection3.15._________(PLACENAME)andNetherlandsTaxMattersSection3.16.NoUndisclosedLiabilitiesARTICLEIVRepresentationsandWarrantiesofBBBSection4.1.Incorporation;Authorization;etcSection4.2.OtherAuthorizations,Consents,Reports,etcSection4.3.Brokers,Finders,etcSection4.4.AcquisitionofSharesforInvestmentARTICLEVCovenantsofSeller,AAAandBBBSection5.1.InvestigationofBusiness;AccesstoPropertiesandRecordsSection5.2.Efforts;ObtainingConsentsSection5.3FurtherAssurancesSection5.4.ConductofBusinessbySellerSection5.5.PreservationofBusinessSection5.6.Non-SolicitationSection5.7.NoticeofDevelopmentsSection5.8.GuaranteesandOtherCommitmentsSection5.9.FinancialStatementsSection5.10.FinancingSection5.11.ResignationofDirectorsSection5.12.IntercompanyAccounts;IndebtednessARTICLEVIEmployeeBenefitsSection6.1EmployeeBenefitPlansSection6.2.CompanyEmployeeBenefitPlansSection6.3.AdministrationARTICLEVIITaxMattersSection7.1.TaxReturnsoftheCompanyandtheSubsidiariesSection7.2.AllocationofCertainTaxesSection7.3.FilingResponsibilitySection7.4.RefundsandCarrybacksSection7.5.CooperationandExchangeofInformationSection7.6.TaxIndemnificationbySellerSection7.7.TransferTaxesSection7.8.DefinitionsARTICLEVIIIConditionstoBBB’sObligationtoCloseSection8.1.Representations,WarrantiesandCovenantsofSellerSection8.2.NoOrdersorInjunctionsSection8.3.OpinionsofSeller’sCounselSection8.4.Non-CompetitionAgreement;ConsentsSection8.5.TaxMattersARTICLEIXConditionstoSeller’sObligationtoCloseSection9.1.Representations,WarrantiesandCovenantsofAAASection9.2.NoOrdersorInjunctionsARTICLEXSurvival;IndemnificationSection10.1.SurvivalSection10.2IndemnificationbySellerSection10.3.IndemnificationProceduresSection10.4.LimitsonIndemnificationSection10.5.LossesNetofInsuranceSection10.6.AdjustmenttoPurchaseARTICLEXITerminationSection11.1TerminationSection11.2.ProcedureandEffectofTerminationARTICLEXIIMiscellaneousSection12.1CounterpartsSection12.2GoverningLawSection12.3.Jurisdiction;WaiverofTrialbyJurySection12.4.EntireAgreementSection12.5.ExpensesSection12.6.NoticesSection12.7.SuccessorsandAssignsSection12.8Headings;DefinitionsSection12.9AmendmentsandWaiversSection12.10.SeverabilitySection12.11InterpretationSchedule1IndividualsWithKnowledgeSchedule3.1(a)JurisdictionsinWhichtheCompanyandtheSubsidiariesareQualifiedtoDoBusinessSchedule3.1(d)ViolationsandAccelerationsSchedule3.2(a)StockInformationSchedule3.3ApplicableAccountingPrinciplesSchedule3.4RealPropertyandLeasesSchedule3.5AbsenceofCertainChangesSchedule3.6LitigationSchedule3.7(b)RequiredLicensesSchedule3.8LaborAgreements,DisputesSchedule3.9ComplianceWithLawSchedule3.10InsurancePoliciesSchedule3.11MaterialContractsSchedule3.13AffiliateTransactionsSchedule3.14EnvironmentalComplianceSchedule3.16UndisclosedLiabilitiesSchedule4.2AuthorizationsandConsentsSchedule5.4ConductofBusinessbySellerSchedule6.1(a)CompanyEmployeeBenefitPlansSchedule6.1(c)PaymentsCausedbythisAgreementSchedule7.1(a)IncomeTaxReturnsSchedule7.1(b)ContestedTaxes;ReservesSchedule7.1(c)TaxExtensionsandPowersofAttorneysSchedule7.1(d)CompanyAffiliatedGroupSchedule7.1(e)AuditsExhibitAFormofEEEGuaranteeExhibitB-1FormofWaiverby_________(NAME)ExhibitB-2FormofWaiverby_________(NAME)ExhibitC-1FormofNon-CompetitionAgreementwithSilasK.F.Chouand_________(NAME)ExhibitC-2FormofNon-CompetitionAgreementwithFredGehrinSTOCKPURCHASEAGREEMENTTHISSTOCKPURCHASEAGREEMENT(theAGREEMENT),datedasof_________,_________,_________(M,D,Y),isbyandamongAAA,a_________(PLACENAME)corporation(AAA),BBB,a_________(PLACENAME)corporationandawhollyownedsubsidiaryofAAA(BBB),andCCC,a_________(PLACENAME)corporation(SELLER).WHEREAS,Sellerowns100%oftheissuedandoutstandingsharesofcapitalstockofDDD,acorporationorganizedunderthelawsofthe_________(PLACENAME)(theCOMPANY);andWHEREAS,BBBdesirestopurchasefromSeller,andSellerdesirestoselltoBBB,100%oftheissuedandoutstandingsharesofcapitalstockoftheCompany,uponthetermsandsubjecttotheconditionssetforthherein(theSTOCKPURCHASE);andWHEREAS,EEELimited,a_________(PLACENAME)corporation(EEE),hasenteredintoaGuaranteeintheformattachedasEXHIBITAhereto,datedofevendateherewith,pursuanttowhichEEEhasguaranteedalloftheobligationsofSellerunderthisAgreement;andWHEREAS,inconnectionwiththeexecutionanddeliveryofthisAgreement,THEurope(asdefinedbelow)hasattherequestofAAAenteredintoanemploymentagreementwitheachofFFF,suchagreementstobeeffectiveasoftheclosingoftheStockPurchasehereunder(theEMPLOYMENTAGREEMENTS);andWHEREAS,inconnectionwiththeexecutionanddeliveryofthisAgreement,TommyGGG,Inc.,awhollyownedsubsidiaryofAAA,hasreceivedawaiverfrom_________(NAME)intheformattachedasEXHIBITB-1heretoandawaiverfrom_________(NAME)intheformattachedasEXHIBITB-2heretowithrespecttocertaincompensationmattersundertheirrespectiveemploymentagreements,suchwaiverstobeeffectiveasoftheclosingoftheStockPurchasehereunder;andWHEREAS,inconnectionwiththeexecutionanddeliveryofthisAgreement,(a)_________(NAME)and_________(NAME)haveenteredintoaNon-CompetitionAgreementwithAAAintheformattachedasEXHIBITC-1heretoand(b)FredGehringhasenteredintoaNon-CompetitionAgreementwithAAAintheformattachedasEXHIBITC-2hereto.NOW,THEREFORE,inconsiderationofthepremisesandofthemutualcovenantshereincontained,thepartiesheretoagreeasfollows:ARTICLEICERTAINDEFINITIONSAsusedinthisAgreementthefollowingtermsshallhavethefollowingrespectivemeanings:ACTIONshallmeananycomplaint,claim,prosecution,indictment,action,suit,arbitration,investigation,inquiryorproceedingbyorbeforeanyGovernmentalAuthority.AFFILIATEshallmeananyPersonthatdirectly,orindirectlythroughoneormoreintermediaries,controlsoriscontrolledbyorisundercommoncontrolwiththepartyspecified.AGREEMENTshallhavethemeaningsetforthinthepreamblehereof.EEEshallhavethemeaningsetforthintherecitalshereof.APPLICABLERETURNshallhavethemeaningsetforthinSection10.1(a)hereof.CLOSINGshallmeantheconsummationofthetransactionscontemplatedbySection2.1ofthisAgreement.CLOSINGDATEshallhavethemeaningsetforthinSection2.2hereof.CODEshallmeantheInternalRevenueCodeof1986,asamended,andanysuccessorthereto.COMPANYshallhavethemeaningsetforthintherecitalshereof.COMPANYBALANCESHEETshallmeantheauditedconsolidatedbalancesheetoftheCompanyanditsconsolidatedsubsidiariesasof_________,_________,_________(M,D,Y),includedintheFinancialStatements.COMPANYEMPLOYEEBENEFITPLANSshallhavethemeaningsetforthinSection6.1(a)hereof.COMPANYMATERIALADVERSEEFFECTshallhavethemeaningsetforthinSection3.5hereof.CONTINUINGAFFILIATEshallmeanSeller,EEEoranyoftheirrespectivecorporateAffiliates(otherthan(i)theCompanyandtheSubsidiariesand(ii)AAAanditssubsidiaries).COVEREDLOSSESshallmeananyandalldebts,losses,liabilities,claims,fines,royalties,deficiencies,damages,obligations,payments(including,withoutlimitation,thosearisingoutofanydemand,assessment,settlement,judgmentorcompromiserelatingtoanyAction),costsandexpenses(including,withoutlimitation,interestandpenaltiesdueandpayablewithrespecttheretoandreasonableattorneys’andaccountants’feesandanyotherout-of-pocketexpensesincurredininvestigating,preparing,defending,avoidingorsettlinganyActionorinenforcinganotherparty’sobligationshereunder),including,withoutlimitation,anyoftheforegoingarisingunder,outoforinconnectionwithanyAction,orderorconsentdecreeofanyGovernmentalAuthorityorawardofanyarbitratorofanykind,oranylaw,rule,regulation,contract,commitmentorundertaking.DETERMINATIONshallhavethemeaningsetforthinSection7.8(a)hereof.EMPLOYMENTAGREEMENTSshallhavethemeaningsetforthintherecitalshereof.ENCUMBRANCEshallmeananymortgage,pledge,lien,easement,restrictivecovenant,rightofway,lease,purchaseagreement,option,securityinterestorotherencumbrance.ENVIRONMENTALLAWshallhavethemeaningsetforthinSection3.14(a)(ii)hereof.EUROPEANLICENSEshallhavethemeaningsetforthinSection5.8hereof.EXCHANGEACTshallmeantheSecuritiesExchangeActof1934,asamended.EXPIRATIONDATEshallhavethemeaningsetforthinSection10.1(a)hereof.FINANCIALSTATEMENTSshallhavethemeaningsetforthinSection3.3hereof.FORTISCOMFORTLETTERshallhavethemeaningsetforthinSection5.8hereof.GAAPshallmeanUnitedStatesgenerallyacceptedaccountingprinciples.GOVERNMENTALAUTHORITYshallhavethemeaningsetforthinSection3.1(d)hereof.HAZARDOUSSUBSTANCEshallhavethemeaningsetforthinSection3.14(a)(i)hereof.INCOMETAXRETURNSshallhavethemeaningsetforthinSection7.8(b)hereof.INCOMETAXESshallhavethemeaningsetforthinSection7.8(c)hereof.INDEMNIFICATIONTHRESHOLDshallhavethemeaningsetforthinSection10.4hereof.INDEMNIFIEDPARTIESshallhavethemeaningsetforthinSection10.2(a)hereof.INDIVIDUALAFFILIATEshallmeananyof_________(NAME),LawrenceS.Stroll,_________(NAME),_________(NAME)andFredGehring.INTELLECTUALPROPERTYmeansallUnitedStatesandforeign(a)patents,patentapplications,patentdisclosuresandimprovementsthereto,(b)trademarks,servicemarks,logos,tradenamesandcorporatenamesandregistrationsandapplicationsforregistrationthereof,including,butnotlimitedto,allmarksregisteredintheUnitedStatesPatentandTrademarkOffice,(c)copyrightsandregistrationsandapplicationsforregistrationthereof,(d)computersoftware,dataanddocumentation,(e)tradesecretsandconfidentialbusinessinformation(includingideas,formulas,compositions,inventions(whetherpatentableorunpatentableandwhetherornotreducedtopractice),know-how,manufacturingandproductionprocessesandtechniques,researchanddevelopmentinformation,drawings,specifications,designs,plans,proposals,technicaldata,copyrightableworks,financial,marketingandbusinessdata,pricingandcostinformation,businessandmarketingplansandcustomerandsupplierlistsandinformation)and(f)copiesandtangibleembodimentsthereof(inwhateverformormedium)inwhichtheCompanyoranySubsidiaryhasanyrights.IRSshallhavethemeaningsetforthinSection7.8(d)hereof.LICENSESshallhavethemeaningsetforthinSection3.7(a)hereof.NETAFTER-TAXBASISshallmean,withrespecttothecalculationofanyindemnificationpaymentowedtoanypartypursuanttothisAgreement,calculationthereofinamannertakingintoaccountanyTaxesowingbytheindemnifiedpartyoritsAffiliatesasaresultofreceiptoraccrualoftheindemnitypaymentandanyTaxbenefitreceivedoraccruedbytheindemnifiedpartyoritsAffiliatesasaresultoftheindemnifiedliability.NOTICEOFCLAIMshallhavethemeaningsetforthinSection10.3(a)hereof.AAAshallhavethemeaningsetforthinthepreamblehereof.PERMITTEDEXCEPTIONSshallmean(a)mechanics’,materialmen’s,carriers’,workmen’s,warehousemen’s,repairmen’s,landlords’orsimilarliensimposedbylawarisingandincurredintheordinarycourseofbusinessandsecuringobligationsthatarenotdelinquent,(b)liensfortaxesandothergovernmentalcharges,assessmentsorfeeswhich(i)arenotyetdueandpayableorwhichmaybepaidwithoutpenaltyor(ii)arebeingcontestedingoodfaiththroughappropriateproceduresandinrespectofwhichtheCompanyoraSubsidiaryhascreatedadequatereservesor(c)Encumbranceswhichindividuallyorintheaggregatedonotdetractfromthevalueofanyofthepropertyorassetssubjecttheretoorinterferewiththepresentusethereof.PERSONshallmeananyindividual,firm,corporation,partnershiporotherentity(includingGovernmentalAuthorities),andshallincludeanysuccessor(bymergerorotherwise)ofsuchentity.PRICEWATERHOUSECOOPERSshallmeanPricewaterhouseCoopersLLPoroneofitsinternationalaffiliates.PURCHASEPRICEshallhavethemeaningsetforthinSection2.1hereof.RCRAHAZARDOUSWASTEshallhavethemeaningsetforthinSection3.14(a)(iii)hereof.REALPROPERTYshallhavethemeaningsetforthinSection3.4hereof.RETAINEDLIABILITIESshallhavethemeaningsetforthinSection10.2(a)hereof.RETURNSshallhavethemeaningsetforthinSection7.8(e)hereof.SECURITIESACTshallmeantheSecuritiesActof1933,asamended.SELLERshallhavethemeaningsetforthinthepreamblehereof.SELLERAFFILIATEshallmeananyoftheCompany,aSubsidiaryoraContinuingAffiliate.SELLER’SKNOWLEDGEorKNOWLEDGEOFSELLERshallmeantheknowledgeofthoseindividualssetforthonSCHEDULE1,afterdueinquirybysuchindividualsoftherespectiveofficersanddirectorsoftheCompanyandTHEurope.SHARESshallmeanthesharesofoneUnitedStatesdollar(US$1)eachoftheCompany.STOCKPURCHASEshallhavethemeaningsetforthintherecitalshereof.SUBSIDIARIESshallmeanTHEurope,THUKLtd,acorporationorganizedunderthelawsoftheUnitedKingdom,THDeutschlandGmbH,aGermancorporation,THItaliaSRL,anItaliancorporation,HilfigerStoresBV,aNetherlandscorporation,HilfigerStoresLtd.(toberenamedTommyStoresLtd.),acorporationorganizedunderthelawsoftheUnitedKingdom,PepeJeansRetailLtd.(toberenamedHilfigerStoresLtd.),acorporationorganizedunderthelawsoftheUnitedKingdom,PepeJeansFranceSAS(toberenamedHilfigerStoresSAS),aFrenchcorporation,THBelgiumNV,aBelgiancorporation,THFranceSAS,aFrenchcorporation,andanydirectorindirectsubsidiaryoftheCompanyformedafterthedateofthisAgreement.TAXAUDITshallhavethemeaningsetforthinSection7.5(d)hereof.TAXLAWSshallhavethemeaningsetforthinSection7.8(f)hereof.TAXESshallhavethemeaningsetforthinSection7.8(g)hereof.TAXINGAUTHORITYshallhavethemeaningsetforthinSection7.8(h)hereof.THEUROPEshallmean_________(NAME)EuropeB.V.,acompanyincorporatedunderthelawsoftheNetherlands.BBBshallhavethemeaningsetforthinthepreamblehereof.$shallmeanUnitedStatesDollars.ARTICLEIIPURCHASEANDSALEOFSTOCK;CLOSINGSection2.1.PURCHASEANDSALE.Onthebasisoftherepresentations,warranties,covenantsandagreementsandsubjecttothesatisfactionorwaiver(totheextentpermitted)oftheconditionssetforthinArticlesVIIIandIX,attheClosingSellerwillsellandBBBwillpurchase_________Shares,whichconstitute,andwillconstituteasoftheClosing,100%oftheissuedandoutstandingsharesofcapitalstockorotherequityinterestsoftheCompany.InpaymentforsuchShares,simultaneouslywiththedeliverybySellerofcertificatesforsuchShares,withallappropriatestockpowersandrequisitetaxstampsattached,properlysigned,informsuitableforthetransferofsuchSharestoBBB,andsubjecttothesatisfactionorwaiver(totheextentpermitted)oftheapplicableconditionssetforthherein,BBBwilldelivertoSeller$,_________(thePURCHASEPRICE)bywiretransferofimmediatelyavailablefundstotheaccountoraccountsspecifiedbySeller.Section2.2.TIMEANDPLACEOFCLOSING.SubjecttosatisfactionorwaiveroftheconditionstoClosingsetforthherein,theClosingshalltakeplaceattheofficesof_________,at9:00a.m.,_________time,on_________,_________,_________(M,D,Y)oratsuchothertimeanddateasBBBandSellermayagree(theCLOSINGDATE).ARTICLEIIIREPRESENTATIONSANDWARRANTIESOFSELLERSellerherebyrepresentsandwarrantstoBBBandAAAasfollows:Section3.1.INCORPORATION;AUTHORIZATION;ETC.(a)EachoftheCompanyandtheSubsidiarieshasbeendulyorganizedandisvalidlyexistingandingoodstanding(totheextentsuchtermisapplicable)underthelawsofthejurisdictionofitsincorporation.EachoftheCompanyandtheSubsidiarieshasfullcorporatepowerandauthoritytoownitspropertiesandassetsandtoconductitsbusinessasitisnowbeingconductedandisingoodstanding(totheextentsuchtermisapplicable)andisdulyqualifiedtotransactbusinessineachjurisdictioninwhichthenatureofpropertyownedorleasedbyitortheconductofitsbusinessrequiresittobesoqualified,exceptwherethefailuretobeingoodstandingorsoqualifiedwouldnothaveamaterialadverseeffectontheCompanyandtheSubsidiaries,takenasawhole.EachjurisdictioninwhichtheCompanyoranySubsidiaryisqualifiedtodobusinessissetforthonSchedule3.1(a).(b)Sellerhasbeendulyorganized,isvalidlyexistingandisingoodstandingunderthelawsofthe_________(PLACENAME).(c)SellerhasfullcorporatepowerandauthoritytoexecuteanddeliverthisAgreement,toperformitsobligationshereunderandtoconsummatethetransactionscontemplatedhereby.TheexecutionanddeliveryofthisAgreementbySeller,theperformanceofSeller’sobligationshereunderandtheconsummationbySellerofthetransactionscontemplatedherebyhavebeendulyandvalidlyauthorizedbyallnecessarycorporateproceedingsonthepartofSeller,andnoothercorporateproceedingoractiononthepartofSelleroritsBoardofDirectorsandstockholdersisnecessarytherefor.(d)Theexecution,deliveryandperformanceofthisAgreementbySellerwillnot(i)violateorconflictwithanyprovisionofthememorandumofassociationorarticlesofassociation(orsimilarinstruments)ofanyofSeller,theCompanyoranySubsidiary,(ii)exceptassetforthonSchedule3.1(d),conflictwith,violateorconstituteadefaultunderanyprovisionof,orbeaneventthatis(orwiththegivingofnoticeorpassageoftimeorbothwillresultin)aviolationofordefaultunder,orresultintheaccelerationoforentitleanypartytoaccelerate(whetherafterthegivingofnoticeorlapseoftimeorboth)anyobligationorrightunder,orresultintheimpositionofanylienuponorthecreationofasecurityinterestinanyoftheSharesoranyoftheassetsorpropertiesoftheCompanyoranyoftheSubsidiariespursuantto,orrequireaconsentorcreateapenaltyorincreasetheCompany’soranySubsidiary’spaymentorperformanceobligationsunder,anymaterialmortgage,lien,lease,instrument,order,arbitrationaward,judgmentordecree,oranymaterialcontract,agreement,licenseorpermit,towhichSeller,theCompanyoranySubsidiaryisapartyorbywhichanyofthemoranyoftheirpropertyisbound,or(iii)assumingthatallconsents,approvals,authorizationsandotheractionsdescribedinSection3.7(b)havebeenobtainedandallfilingsandobligationssetforthinSection3.7(b)havebeenmade,violateorconflictwithinanymaterialrespect,orresultintheimpositionofanymateriallien(otherthanliensarisingfromanyactionstakenorarrangementsmadebyAAAoranyofitssubsidiaries)uponanyoftheShares,oranyoftheassetsorpropertiesoftheCompanyoranySubsidiarypursuantto,anyprovisionoflaw,regulation,rule,writ,injunction,decree,statute,order,judgmentorrulingofanyfederal,state,local,foreign,supernationalorsupranationalcourtortribunal(includinganycourtortribunaldealingwithlabormatters),governmental,regulatoryoradministrativeagency,department,bureau,authorityorcommissionorarbitralpanel(GOVERNMENTALAUTHORITY)oranyothermaterialrestrictionofanykindorcharactertowhichSeller,theCompanyoranySubsidiaryisormaybesubjectorbywhichanyofthemoranyoftheirpropertyisormaybebound.ThisAgreementhasbeendulyexecutedanddeliveredbySellerand,assumingthedueexecutionhereofbyAAAandBBB,thisAgreementconstitutesthelegal,validandbindingobligationsofSellerenforceableagainstSellerinaccordancewithitstermsexceptassuchenforceabilitymaybelimitedbyanyapplicablebankruptcy,insolvency,reorganization,moratoriumorothersimilarlawsaffectingcreditors’rightsgenerally,andexceptastheavailabilityofequitableremediesmaybelimitedbytheapplicationofgeneralprinciplesofequity(regardlessofwhethersuchequitableprinciplesareappliedinaproceedingatlaworinequity).(e)UponconsummationoftheStockPurchaseattheClosing,ascontemplatedbythisAgreement,SellerwilldelivertoBBBgoodandvalidtitletoalloftheoutstandingSharesfreeandclearofanyliens,claims,charges,securityinterests,optionsorotherlegalorequitableencumbrancesorotherrightsofthirdparties(exceptthoseimposedbytheUnitedStatesfederalsecuritieslawsoranyactiontakenorarrangementmadebyAAAoranyofitssubsidiaries).(f)SellerhasmadeavailabletoBBBcompleteandcorrectcopiesofthememorandumofassociationandarticlesofassociation(orsimilarinstruments),asamendedtodate,ofSeller,theCompanyandeachoftheSubsidiaries,andhasmadeavailabletoBBBthecorporateminutebookscontainingtherecordsofmeetingsofthestockholdersandboardsofdirectors,thestockcertificatebooksandthestockrecordbooksoftheCompanyandtheSubsidiaries.ThestockrecordbooksoftheCompanyandtheSubsidiarieswhichSellerhasmadeavailabletoBBBarecompleteandcorrectinallrespectsandaccuratelyreflecttheownershipofalloftheoutstandingsharesoftheCompany’sandtheSubsidiaries’respectivecapitalstockandallothersecuritiesissuedbytheCompanyoranyoftheSubsidiaries.AllmaterialcorporateactionstakenbytheCompanyandtheSubsidiariessincetheirrespectiveorganizationandincorporationhavebeendulyauthorizedandsubsequentlyratifiedasnecessary.NeithertheCompanynoranyoftheSubsidiariesisindefaultunderorinviolationofanyprovisionofitsarticlesofincorporation,bylawsorsimilarinstruments.Section3.2.CAPITALIZATION;STRUCTURE.(a)TheauthorizedcapitalstockoftheCompanyconsistsof_________Shares,ofwhich_________Sharesareissuedandoutstanding.AlloftheoutstandingsharesofcapitalstockoftheCompanyarevalidlyissued,fullypaidandnonassessableandareownedbeneficiallyandofrecordbySeller.AlloftheoutstandingsharesofcapitalstockorotherequityinterestsoftheSubsidiaries,aslistedonSchedule3.2(a),arevalidlyissued,fullypaidandnonassessable.ExceptassetforthonSchedule3.2(a),alloftheoutstandingsharesofcapitalstockorotherequityinterestsoftheSubsidiariesareownedbytheCompanyoranotherSubsidiaryintheamountssetforthonSchedule3.2(a).NoneoftheoutstandingSharesnoranyofthesharesofoutstandingcapitalstockorotherequityinterestsofanySubsidiaryhavebeenissuedinviolationof,oraresubjectto,anypreemptiverights.ExceptasprovidedintheEuropeanLicense,thesharesofcapitalstockorotherequityinterestsoftheSubsidiariesandtheoutstandingSharesareownedineachcasefreeandclearofanyliens,claims,charges,securityinterests,optionsorotherlegalorequitableencumbrancesorrestrictions.ExceptasprovidedintheEuropeanLicense,therearenooutstandingoptions,warrants,subscriptionsorotherrightsofanykindtoacquire,orobligationstoissue,sharesofcapitalstockofanyclassof,orotherequityinterestsin,theCompanyoranySubsidiary,oranysecuritiesconvertibleintoorexchangeableorexercisableforanysharesofcapitalstockofanyclassof,orotherequityinterestsin,theCompanyoranySubsidiary.(b)NeithertheCompanynoranyoftheSubsidiariesdirectlyorindirectlyownsorhastherighttoacquireanycapitalstockoforotherequityinterests,investment,partnership,jointventureorsimilarinterestinanycorporation,partnershiporotherentityorotherPersonexceptfortheownershipoftheoutstandingsharesorotherequityinterestsoftheSubsidiaries,assetforthonSchedule3.2(a).Section3.3.FINANCIALSTATEMENTS.SellerhaspreviouslyfurnishedtoBBBtrueandcompletecopiesoftheconsolidatedfinancialstatementsoftheCompanyanditsconsolidatedsubsidiariesforthefiscalyearsended_________,_________(M,D)foreachof_________,_________and_________(suchfinancialstatementsfortheCompanyfor_________andforTHEuropefor_________,_________and_________beingauditedandaccompaniedbytheunqualifiedopinionofPricewaterhouseCoopers)(theFINANCIALSTATEMENTS).ExceptassetforthonSchedule3.3,theFinancialStatements(includingthenotesthereto)presentfairlyinallmaterialrespectstheconsolidatedfinancialpositionandresultsofoperationsandcashflowsoftheCompanyanditsconsolidatedsubsidiariesfortherespectiveperiodsorasoftherespectivedate