Company: EHSI
Filing Date: 2025-09-02
Form Type: PRE 14A
Source: 0001437749-25-028137
Chunk: 50

Company: Elite Health Systems Inc.
Filing Date: 2025-09-02
Form: PRE 14A
Chunk 50
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 | title to assets, valid and enforceable rights to use all Intellectual Property;                                                                       |
| ● | disclosure of all insurance policies, adequacy of coverage, valid and binding in accordance with terms;                                               |
| ● | the absence of litigation;                                                                                                                            |
| ● | compliance with laws and permits;                                                                                                                     |
| ● | employee benefit plans and employment matters;                                                                                                        |
| ● | tax matters;                                                                                                                                          |
| ● | access to books and records;                                                                                                                          |
| ● | the absence of brokers or brokers’ fees relating to the PSS sale;                                                                                     |
| ● | full disclosure.                                                                                                                                      |

Certain of the Selling Stockholders’ representations and warranties are qualified by materiality, a Material Adverse Effect standard (as described below), and our disclosure schedules to the Acquisition Agreement. Except for the representations and warranties contained in the Acquisition Agreement (including the disclosure schedules), neither the PSS nor any other person has made or makes any representation or warranty, on behalf of PSS or any of its affiliates, as to the PSS business or any other matter related to the transactions contemplated by the Acquisition Agreement.

In the Acquisition Agreement, the Company made representations and warranties relating to, among other things

| ● | corporate organization, existence and power and authority to own, operate and lease its assets and carry on its business; |
| ● | authority to enter into the Acquisition Agreement and related transaction documents;                                      |
| ● | capitalization;                                                                                                           |
| ● | absence of conflicts or violations;                                                                                       |
| ● | investment purpose;                                                                                                       |
| ● | the absence of brokers or brokers’ fees relating to the PSS acquisition.                                                  |

MATERIALITY

Many of the Sellers’ representations and warranties, as well as other conditions or provisions in the Acquisition Agreement, are qualified by whether material which in some cases is defined by dollar value or in other cases by other means.

CONDITIONS TO COMPLETION OF THE ACQUISITION OF PSS

The obligations of Selling Stockholders and the Company to complete the PSS acquisition are each subject to the satisfaction of a number of conditions set forth in the Acquisition Agreement, including the following:

| ● | the required approval by the shareholders of both seller and buyer of the Acquisition Agreement and the transactions contemplated by the Acquisition Agreement;                 |
| ● | absence of any law or other preventing consummation of the transactions contemplated by the Acquisition Agreement;                                                              |
| ● | accuracy of the representations and warranties made by the Company or the Selling Stockholders