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HomeMy WebLinkAboutNCG050041_Name-Owner Change Supporting Info_2/11/2020BILL OF SALE THIS BILL OF SALE (this "Bill of Sale"), dated January 31, 2020 is made by Plastics Color Corporation of North Carolina, a Delaware corporation ("Seller") in favor of Chroma Color Corporation, a North Carolina corporation ("Buyer"). Capitalized terms used herein but not otherwise defined shall have the meanings assigned to them in the Purchase Agreement (as defined below). RECITALS A. Buyer, Seller, Plastics Color Corporation of Illinois, Plastics Color Corporation and PMC, Inc. are parties to a certain Asset Purchase Agreement, dated of even date herewith (the "Purchase Agreement"). B. Pursuant to the Purchase Agreement, Seller is selling to Buyer, and Buyer is purchasing from Seller, all of Seller's right, title, and interest in the PCC NC Acquired Assets free and clear of all Liens except Permitted Liens. C. The execution and delivery of this Bill of Sale is required under the Purchase Agreement. In consideration of the foregoing premises and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: 1. In exchange for the portion of the Purchase Price allocated to Seller as provided in the Purchase Agreement and in consideration for the consummation of the transactions contemplated by the Purchase Agreement, and for other good and valuable consideration, the receipt and adequacy of which is hereby acknowledged, Seller hereby sells, conveys, transfers, assigns, grants, delivers and sets over to Buyer the PCC NC Acquired Assets, free and clear of all Liens other than Permitted Liens. Notwithstanding anything to the contrary in this Bill of Sale or the Purchase Agreement, the transfer of the PCC NC Acquired Assets will not include the assumption of any Excluded Liability or any liability relating to the PCC NC Acquired Assets unless Buyer expressly assumes the same pursuant to the terms of the Purchase Agreement. 2. Nothing in this Bill of Sale, express or implied, is intended or shall be construed to confer upon, or give to, any Person, other than Buyer and Seller, any rights, remedies, obligations, or liabilities in relation to the PCC NC Acquired Assets. 3. This Bill of Sale may not be amended or modified in any respect, except by a written instrument signed by all the parties to this Agreement making specific reference to this Agreement. This Bill of Sale shall inure to the benefit of and be binding upon Buyer and Seller and their respective successors and permitted assigns. 4. This Bill of Sale may be executed in one or more counterparts, each of which will be deemed to be an original but all of which together will constitute one and the same document. Any signature to this Agreement delivered via facsimile, electronic mail, or in .PDF format shall be deemed an original for all purposes. 5. This Bill of Sale is governed by and construed in accordance with the internal laws of the State of Delaware, without regard to conflict of laws principles. 6. Each provision of this Bill of Sale will be interpreted in such a manner as to be effective and valid under applicable law, but if any term or other provision of this Bill of Sale is held to be invalid, illegal or unenforceable, all other provisions of this Bill of Sale shall remain in full force and effect, and such provision shall be interpreted to be only as broad as is enforceable under applicable law. 7. Notwithstanding anything herein to the contrary, the provisions of this Bill of Sale shall be subject to the provisions of the Purchase Agreement, including, but not limited to, the representations, warranties, covenants, agreements, and indemnities relating to the Acquired Assets which are incorporated herein by this reference. If and to the extent the provisions of this Bill of Sale are inconsistent in any way with the provisions of the Purchase Agreement, the provisions of the Purchase Agreement shall be controlling. Nothing contained herein shall be deemed to alter, modify, expand, or diminish the terms and provisions set forth in the Purchase Agreement. 8. Simultaneously with the execution and delivery of this Bill of Sale, Seller shall deliver to Buyer all documents of title, registrations, and other books, records, data, files, and other documents and information (in any form) relating to the PCC NC Acquired Assets and hereby agrees to take such actions and do such things as Buyer reasonably requests to establish the record of Buyer's title to the PCC NC Acquired Assets or to vest or confirm the vesting of title to the PCC NC Acquired Assets in Buyer, including, without limitation, to execute and deliver, or cause to be executed and delivered, all such further agreements, instruments, and documents evidencing or confirming the sale, assignment, and transfer to Buyer of the PCC NC Acquired Assets. [Signature page to follow] IN WITNESS WHEREOF, Seller has caused this Bill of Sale to be duly executed and delivered by its duly authorized representative as of the date first written above. PLASTICS COLOR CORPORATION OF NORTH CAROLINA By: Print Name: T.C. Cheong Title: EVP and CFO