Document:

Series G Unit Subscription Agreement, dated December 1, 2011

 Exhibit 10.1 
 EXECUTION VERSION 
 SERIES G UNIT SUBSCRIPTION AGREEMENT 

THIS SERIES G UNIT SUBSCRIPTION AGREEMENT (this “Agreement”) is entered into on December 1, 2011, among
LIGHTING SCIENCE GROUP CORPORATION, a Delaware corporation (the “Company”), PCA LSG Holdings, LLC, a Delaware limited liability company (“PCA Holdings”), Pegasus Partners IV, L.P., a Delaware limited
partnership (“PPIV”), LSGC Holdings II LLC, a Delaware limited liability company (“Holdings II”), Ensemble Lights, LLC, a Delaware limited liability company (“Ensemble”), Belfer
Investment Partners L.P., a Delaware limited partnership (“Belfer”), Lime Partners, LLC, a Delaware limited liability company (“Lime”), Mr. Mark Kristoff and Mr. Alan Docter (Holdings II,
Ensemble, Belfer, Lime and Messrs. Kristoff and Docter being referred to herein as the “New Purchasers” and together with PPIV, PCA Holdings and such additional investors as may become party to this Agreement from time to
time, the “Purchasers”). Defined terms used and not defined herein shall have the meanings ascribed thereto in the Certificate of Designation (as defined below). 

WHEREAS, the Company desires to sell to each New Purchaser and each New Purchaser desires to buy from the Company the number of
units (“Series G Units”) of the Company’s securities set forth below its signature hereto (the “New Purchaser Series G Units”) at a purchase price of $1,000 per Series
G Unit, with each Series G Unit consisting of: (a) one share of the Company’s Series G Preferred Stock, par value $0.001 per share (“Series G Preferred Stock”); and (b) 83 shares of the
Company’s common stock, par value $0.001 per share (“Common Stock”) on the terms and conditions set forth herein; 
 WHEREAS, the Company, PCA Holdings and PPIV had previously entered into that certain Subscription Agreement (the “Series F Subscription Agreement”), dated as of
November 17, 2011, granting PCA Holdings and PPIV the option to purchase up to 40,000 units (the “Series F Units”) of the Company’s securities at a purchase price of $1,000.00 per Series F Unit, with each Series F
Unit consisting of: (a) one share of the Company’s Series F Preferred Stock, par value $0.001 per share; and (b) 83 shares of Common Stock; 
 WHEREAS, PCA Holdings and Mr. Leon Wagner (the “Series F Unit Purchasers”), had purchased in the aggregate 11,500 Series F Units pursuant to the Series F Subscription
Agreement; 
 WHEREAS, in connection with the issuance of Series G Units by the Company, pursuant to Section 7 of
the Series F Subscription Agreement, PCA Holdings has determined, on behalf of the Series F Unit Purchasers, that the Series F Unit Purchasers shall exchange all of the outstanding Series F Units for Series G Units and the option to purchase Series
F Units under the Series F Subscription Agreement shall be replaced by a right to purchase Series G Units pursuant to the terms and conditions set forth herein (the “Option”); and 

WHEREAS, the Company and PCA Holdings have agreed to exchange each outstanding Series F Unit for one Series G Unit;
provided that the shares of Series G Preferred Stock associated therewith shall be deemed to have begun earning and accruing the Accrual Dividend as of November 17, 2011. 

  
 - 1 -

 NOW, THEREFORE, in consideration of the mutual agreements herein contained, the
parties hereto agree as follows: 
 1. Purchase and Sale of Series G Units. 

(a) At any time and from time to time (each a “Transaction Date”) on or prior to December 31,
2011, subject to extension upon written approval of the Company and the Purchasers holding a majority of the Series G Units then issued, any of PCA Holdings, PPIV, Holdings II or their assignees (the “Exercising Purchaser”)
may give notice of its election to purchase Series G Units pursuant to this Agreement (a “Transaction Notice”) to the Company setting forth the number of Series G Units to be purchased and the aggregate consideration
(representing the product of such number of Series G Units to be purchased multiplied by $1,000.00) to be paid therefor (the “Consideration”), and any such election to purchase shall be fulfilled in the order in which the
associated Transaction Notice has been received by the Company; provided that a Transaction Notice for more than the remaining unissued number of Series G Units under the Option shall be deemed to be for all of the remaining unissued Series G
Units under the Option and the aggregate purchase price therefor shall be adjusted accordingly. 
 (b) On each
Transaction Date, pursuant to the associated Transaction Notice, the Exercising Purchaser shall purchase from the Company and the Company shall sell to the Exercising Purchaser all or less than all of the Series G Units in accordance with the terms
and conditions of this Agreement. 
 2. Payment for Series G Units; Delivery of Certificate. 

(a) On or prior to the date hereof, each of the Series F Unit Purchasers shall have delivered, or caused to be delivered,
to the Company certificates, if any, representing the shares of Series F Preferred Stock and Common Stock of which their Series F Units were comprised (the “Exchange Consideration”). On or promptly following the date hereof,
the Company shall deliver to each Series F Unit Purchaser, in accordance with this Agreement, certificates representing the shares of Series G Preferred Stock and shares of Common Stock of which the Series G Units exchanged for the Exchange
Consideration are comprised; provided that notwithstanding anything in this Agreement to the contrary, the Company hereby agrees that the Accrual Dividend on such shares of Series G Preferred Stock shall be deemed to have begun being earned
and accrued as of November 17, 2011. 
 (b) On or prior to the date hereof, each New Purchaser shall
transmit, or cause to be transmitted, by wire transfer of immediately available funds to the Company, in accordance with the wire transfer instructions previously delivered to such New Purchaser, an amount equal to the product of its New Purchaser
Series G Units multiplied by $1,000 (the “New Purchaser Consideration”). On or promptly following the date hereof, the Company shall deliver to each New Purchaser, in accordance with this Agreement, certificates representing
the shares of Series G Preferred Stock and shares of Common Stock of which its New Purchaser Series G Units are comprised. 

  
 - 2 -

 (c) On each Transaction Date, the Exercising Purchaser shall pay, or
cause to be paid, by wire transfer of immediately available funds to the Company, an amount equal to the Consideration set forth in the associated Transaction Notice. 

(d) On or promptly following each Transaction Date, the Company shall deliver to the Exercising Purchaser in accordance
with this Agreement a certificate or certificates, in such denominations as instructed by the Exercising Purchaser, representing the shares of Series G Preferred Stock and shares of Common Stock of which the Series G Units purchased set forth in the
associated Transaction Notice are comprised. 
 3. Opinion of Counsel. On the date hereof, Haynes and Boone, LLP, counsel
for the Company, shall have delivered to each of the New Purchasers and PCA Holdings a usual and customary opinion with respect to the issuance of the Series G Units purchased thereby as of the date hereof. On each Transaction Date, if any, Haynes
and Boone, LLP, counsel for the Company, shall have delivered to the Exercising Purchaser a usual and customary opinion with respect to the issuance of the Series G Units to the Exercising Purchaser. 

4. Officer’s Certificate of the Company. On each Transaction Date, if any, in connection with the issuance of Series G Units,
the Company shall have delivered to the Exercising Purchaser a certificate (including a revised Schedule 5(d)) signed on behalf of the Company by the Chairman of the Board, Chief Executive Officer, Chief Financial Officer, President or any
Executive Vice President, Senior Vice President or Vice President of the Company in which such officer, to the best of his or her knowledge after reasonable investigation, shall state that: (i) the representations and warranties of the Company
in this Agreement are true and correct as of the Transaction Date (including with respect to Schedule 5(d) as revised as of the Transaction Date) and (ii) the Company has complied in all material respects with all agreements and
satisfied all conditions on its part to be performed or complied with by it hereunder at or prior to that Transaction Date. 

5. Company Representations and Warranties. The Company represents and warrants to each of the Purchasers that as of the date
hereof: 
 (a) The Company is a corporation duly incorporated, validly existing and in good standing under the
laws of the State of Delaware and has the requisite corporate power to own its properties and carry on its business as presently conducted. 
 (b) The issuance, sale and delivery of the Series G Units in accordance with this Agreement have been duly authorized by all necessary corporate action on the part of the Company. 

(c) This Agreement constitutes the legal, valid and binding obligation of the Company, enforceable in accordance with its
terms, and the execution, delivery and performance of this Agreement by the Company does not and will not conflict with, violate or cause a breach of any agreement, contract or instrument to which the Company is a party or any judgment, order or
decree to which the Company is subject. 

  
 - 3 -

 (d) After giving pro forma effect to the transactions contemplated
hereby, Schedule 5(d) attached hereto sets forth, as of the close of business on the business day immediately preceding the date hereof, a true, complete and correct listing of all the Company’s outstanding: (i) shares of Common
Stock and (ii) securities convertible into or exchangeable for shares of Common Stock (the “Derivative Securities”), including the applicable exercise price of such Derivative Securities, other than any Derivative
Securities issued pursuant to the Company’s Amended and Restated Equity-Based Compensation Plan or the Company’s 2011 Employee Stock Purchase Plan (the “Management Equity”). Except as set forth in Schedule
5(d) and except for any Management Equity, the Company has no other outstanding equity securities. 
 (e) SEC
Reports; Financial Statements 
  

	 	i.	As of its filing date, the Form 10-K filed by the Company with the Securities and Exchange Commission (the “SEC”) on April 1, 2011, the
Form 10-Q filed by the Company with the SEC on May 16, 2011, the Form 10-Q filed by the Company with the SEC on August 15, 2011 and the Form 10-Q filed by the Company with the SEC on November 14, 2011 (collectively, the
“Company SEC Documents”), complied in all material respects with the applicable requirements of the Securities Act of 1933, as amended (the “1933 Act”), the Securities Exchange Act of 1934, as amended
(the “1934 Act”), and the Sarbanes-Oxley Act of 2002, as the case may be, including, in each case, the rules and regulations promulgated thereunder. 

 

	 	ii.	Except to the extent that information contained in the Company SEC Documents has been revised or superseded by a document the Company subsequently filed with the SEC,
the Company SEC Documents do not contain any untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary in order to make the statements therein, in light of the circumstances under which they were
made, not misleading. 

  

	 	iii.	 The financial statements (including the related notes thereto) included in the Company SEC Documents comply as to form in all material respects with
applicable accounting requirements and the published rules and regulations of the SEC with respect thereto, have been prepared in accordance with generally accepted accounting principles (“GAAP”) (except, in the case of
unaudited statements, as permitted by Form 10-Q of the SEC) applied on a consistent basis during the periods involved (except as may be indicated in the notes thereto) and fairly present in all material respects the consolidated financial position
of the Company and its subsidiaries as of the dates thereof and their respective consolidated results of operations and cash flows for the periods then ended (subject, in the case of unaudited statements, to normal and recurring year-end audit
adjustments that were not, or are not expected to be, material in amount), all in accordance with GAAP and the applicable rules and regulations 

  
 - 4 -

	 	
promulgated by the SEC. Since August 15, 2011, the Company has not made any change in the accounting practices or policies applied in the preparation of its financial statements, except as
required by GAAP, the rules of the SEC or policy or applicable law. 

  

	 	iv.	Since November 14, 2011, there has been no material and adverse change or development, or event involving such a prospective change, in the condition, business,
properties or results of operations of the Company and its subsidiaries. 

 (f) The Company agrees
and acknowledges that the Series G Units to be acquired by PPIV, PCA Holdings or their affiliates are subject to that certain Amended and Restated Registration Rights Agreement, dated as of January 23, 2009, by and between the Company and PPIV,
and any registration rights agreement entered into pursuant to Section 5.03 of that certain Stock Repurchase, Exchange and Recapitalization Agreement, dated as of September 30, 2010, by and among the Company, PPIV, LSGC Holdings LLC and
LED Holdings, LLC (collectively, the “Registration Rights Agreements”), and that the Series G Units (including each of their components), and any securities exchanged therefor, shall constitute Registrable Securities (as
defined therein). 
 (g) The offer and sale of the Series G Units by the Company to the Purchasers in the manner
contemplated by this Agreement will be exempt from the registration requirements of the 1933 Act. 
 (h) The
Company has complied in all material respects with the covenants set forth in (i) that certain Loan Security Agreement, dated as of November 22, 2010, by and among the Company, the guarantors and lenders from time to time party thereto,
Wells Fargo Bank, National Association, as agent, and Wells Fargo Capital Finance, LLC, as sole lead arranger, manager and bookrunner (the “Credit Facility”), including without limitation Section 4 thereof, and
(ii) that certain Second Lien Letter of Credit, Loan and Security Agreement, dated September 20, 2011, by and among the Company, as borrower, the guarantors and lenders party from time to time thereto and Ares Capital Corporation, as agent
(the “LC Facility” and together with the Credit Facility, the “Debt Facilities”). Immediately following the consummation of the transactions contemplated hereby, the Company will be in compliance in
all material respects with the covenants set forth in the Debt Facilities. Immediately following the repayment of any Consideration as required under Section 9.7(b)(iii)(D) of the Credit Facility, the Company will be able to redraw amounts
equal to at least such Consideration. 
 6. Purchaser Representations and Warranties. Each Purchaser severally and not
jointly represents and warrants to the Company that as of the date hereof: 
 (a) The Purchaser has the full
power and authority to execute and deliver this Agreement and to perform all of its obligations hereunder and thereunder, and to purchase, acquire and accept delivery of the Series G Units. 

  
 - 5 -

 (b) The Series G Units are being acquired for the Purchaser’s own
account and not with a view to, or intention of, distribution thereof in violation of the 1933 Act, or any applicable state securities laws. 
 (c) The Purchaser will not make any sale, transfer or other disposition of the Series G Units in violation of the 1933 Act, the 1934 Act, as amended, the rules and regulations promulgated thereunder or
any applicable state securities laws. 
 (d) The Purchaser is sophisticated in financial matters and is able to
evaluate the risks and benefits of an investment in the Series G Units. The Purchaser understands and acknowledges that such investment is a speculative venture, involves a high degree of risk and is subject to complete risk of loss. The Purchaser
has carefully considered and has, to the extent the Purchaser deems necessary, discussed with the Purchaser’s professional legal, tax, accounting and financial advisers the suitability of its investment in the Series G Units. 

(e) The Purchaser is able to bear the economic risk of its investment in its Series G Units for an indefinite period of
time because the Series G Units have not been registered under the 1933 Act and, therefore, cannot be sold unless subsequently registered under the 1933 Act or an exemption from such registration is available. The Purchaser: (i) understands and
acknowledges that the Series G Units being issued to the Purchaser have not been registered under the 1933 Act, nor under the securities laws of any state, nor under the laws of any other country and (ii) recognizes that no public agency has
passed upon the accuracy or adequacy of any information provided to the Purchaser or the fairness of the terms of its investment in the Series G Units. 
 (f) The Purchaser has had an opportunity to ask questions and receive answers concerning the terms and conditions of the offering of the Series G Units and has had full access to such other information
concerning the Company as has been requested. 
 (g) This Agreement constitutes the legal, valid and binding
obligation of the Purchaser, enforceable in accordance with its terms, and the execution, delivery and performance of this Agreement by the Purchaser does not and will not conflict with, violate or cause a breach of any agreement, contract or
instrument to which the Purchaser is a party or any judgment, order or decree to which the Purchaser is subject. 

(h) The Purchaser became aware of the offering of the Series G Units other than by means of general advertising or general
solicitation. 
 (i) The Purchaser is an “accredited investor” as that term is defined
under the 1933 Act and Regulation D promulgated thereunder, as amended by Section 413 of the Private Fund Investment Advisers Registration Act of 2010 and any applicable rules or regulations or interpretations thereof promulgated by the
SEC or its staff. 
 (j) The Purchaser acknowledges that the certificates for the Series G Preferred Stock and
Common Stock comprising the Series G Units will contain a legend substantially as follows: 

  
 - 6 -

 “THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF
1933, AS AMENDED (THE “ACT”), OR THE SECURITIES LAWS OF ANY STATE. THE SECURITIES MAY NOT BE TRANSFERRED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER SUCH ACT AND APPLICABLE STATE SECURITIES LAWS OR PURSUANT TO AN
APPLICABLE EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF SUCH ACT AND SUCH LAWS. 
 THE COMPANY MAY REQUEST A WRITTEN OPINION OF COUNSEL
(WHICH OPINION AND COUNSEL SHALL BE REASONABLY SATISFACTORY TO THE COMPANY) TO THE EFFECT THAT REGISTRATION IS NOT REQUIRED IN CONNECTION WITH AN OFFER, SALE OR TRANSFER OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE.” 

Subject to any lock-up or other similar agreement that may apply to the Series G Units, the requirement that the Series G Units contain
the legend set forth in clause (j) above shall cease and terminate upon the earlier of (i) when such shares are transferred pursuant to Rule 144 under the 1933 Act or (ii) when such securities are transferred in any other transaction
if the transferor delivers to the Company a written opinion of counsel (which opinion and counsel shall be reasonably satisfactory to the Company) to the effect that such legend is no longer necessary in order to protect the Company against a
violation by it of the 1933 Act upon any sale or other disposition of such securities without registration thereunder. Upon the consummation of an event described in (i) or (ii) above, the Company, upon surrender of certificates containing
such legend, shall, at its own expense, deliver to the holder of any such securities as to which the requirement for such legend shall have terminated, one or more new certificates evidencing such securities not bearing such legend. 

7. PCA Holdings Representation. PCA Holdings represents and warrants to each of the New Purchasers that (i) Pegasus Capital,
LLC (“Pegasus Capital”) is a Delaware limited liability company owned by Mr. Craig M. Cogut, his family members and trusts established for their benefit, (ii) as of the date hereof, PCA Holdings is wholly-owned
by Pegasus Capital, (iii) Pegasus Capital has contributed, as of the date hereof, $10.0 million to PCA Holdings, which amount was used by PCA Holdings to acquire 10,000 Series F Units (which are being exchanged for 10,000 Series G Units in
accordance herewith) and (iv) Pegasus Capital, Mr. Craig M. Cogut and PCA Holdings have no current intention of directly or indirectly selling or otherwise syndicating any such Series G Units being acquired hereby or any securities of
Pegasus Capital or of PCA Holdings (except to the extent PCA Holdings may offer membership interests to current employees, principals or affiliates of Pegasus Capital Advisors, L.P., a Delaware limited partnership). 

8. Exchange for Newly Issued Securities. 
 At any time on or prior to November 17, 2013, if the Company issues any securities (whether debt, equity or otherwise), other than pursuant to the Company’s Amended and Restated Equity-Based
Compensation Plan or the Company’s 2011 Employee Stock Purchase Plan (or any additional or successor employee equity compensation arrangements) or a Subsequent Transaction (as defined below), on terms (economic or otherwise) that PCA

  
 - 7 -

 
Holdings, in its sole reasonable discretion, determines are more favorable than the Series G Units, each Purchaser (including PCA Holdings) may exchange all, but not less than all, of its Series
G Units for such newly issued securities, and any outstanding right to purchase Series G Units shall convert into a right to purchase the newly issued securities on substantially the same terms and conditions as such issuance. Each Series G Unit to
be exchanged shall be valued at the then present Liquidation Value of the Series G Preferred Stock included in such Series G Unit. The Company shall, as soon as practicable, but in no event later than 10 days prior to the to the issue of such
securities, deliver written notice to each Purchaser stating (i) the terms of such securities and (ii) the Company’s calculation of the number of such securities that would be issued in exchange for one Series G Unit. If PCA Holdings
determines pursuant to this Section 8 that the issuance of securities is on terms more favorable than the Series G Units, PCA Holdings shall have 10 days from the receipt of such notice from the Company to deliver notice to the Company
and each Purchaser of such determination and each Purchaser electing to exercise its right to exchange hereunder shall be required to surrender to the Company all certificate(s) evidencing the shares of Series G Preferred Stock and the shares of
Common Stock underlying the Series G Units to be exchanged in accordance with this Section 8. Notwithstanding anything to the contrary herein, each Purchaser that elects to exchange its Series G Units pursuant to this
Section 8 hereby agrees that PCA Holdings shall have the right to enter into such agreements, make such amendments hereto and take such other actions on behalf of such Purchaser in order to give effect to this Section 8. For
the avoidance of doubt, the rights granted to PCA Holdings under this Section 8 shall not apply to the securities issued in a Subsequent Transaction. 
 9. Subsequent Securities Sales. 
 (a) At least five days
prior to the closing of the first sale of any securities of the Company (whether debt, equity or otherwise), other than pursuant to the Company’s Amended and Restated Equity-Based Compensation Plan or the Company’s 2011 Employee Stock
Purchase Plan (or any additional or successor employee equity compensation arrangements) or this Agreement that results in gross proceeds to the Company of at least $50,000,000.00 (a “Subsequent Transaction”), and for so long
as the Series G Preferred Stock remains outstanding, the Company shall give notice of such Subsequent Transaction to the Purchasers setting forth the terms and conditions of such Subsequent Transaction. The Company shall not enter into an agreement
for a Subsequent Transaction unless such agreement permits the Company to comply with this Section 9 and Section 4 of the Certificate of Designation. 

(b) Simultaneous with and subject to the closing of the Subsequent Transaction, if any, each holder of Series G Preferred
Stock shall have the right, but not the obligation: 
  

	 	i.	to the extent not prohibited by the terms of the securities issued in the Subsequent Transaction, to require the Company to use the proceeds of such Subsequent
Transaction to redeem the Series G Preferred Stock in accordance with Section 4(b)(i) of the Certificate of Designation of Series G Preferred Stock of the Company dated December 1, 2011 (the “Certificate of
Designation”); or 

  
 - 8 -

	 	ii.	to elect to convert all or less than all of the holder’s Series G Preferred Stock in accordance with Section 4(b)(ii) of the Certificate of Designation (a
“Conversion”). 

 (c) For the avoidance of doubt, if the Series G Preferred
Stock is redeemed, repurchased, exchanged or converted, including but not limited to pursuant to this Section 9 or pursuant to the Company’s rights and obligations under the Certificate of Designation, for any reason other than in
connection with an exchange of Series G Units pursuant to Section 8 of this Agreement, the holder shall retain all of the Common Stock that was part of any Series G Unit of which the Series G Preferred Stock is subject to such
redemption, repurchase, exchange or conversion. 
 10. Indemnification by the Company. The Company shall save, defend,
indemnify and hold harmless each Purchaser and its affiliates and the respective representatives, successors and assigns of each of the foregoing from and against any and all losses, damages, liabilities, deficiencies, claims, diminution of value,
interest, awards, judgments, penalties, costs and expenses (including attorneys’ fees, costs and other out-of-pocket expenses incurred in investigating, preparing or defending the foregoing), asserted against, incurred, sustained or suffered by
any of the foregoing as a result of, arising out of or relating to any breach of any representation, warranty or covenant made by the Company and contained in this Agreement and the schedule hereto. 

11. General Provisions. 
 (a) Default. A default by any Purchaser of its obligations under Section 2 of this Agreement shall not constitute a default by any other Purchaser under this Agreement and, except with
respect to such defaulting Purchaser, shall not relieve the Company of any of its obligations to any other Purchaser under this Agreement. 
 (b) Choice of Law. The laws of the State of New York without reference to the conflict of laws provisions thereof, will govern all questions concerning the construction, validity and interpretation
of this Agreement. 
 (c) Legal Expenses. Each party to this Agreement shall be solely responsible for its
own expenses incurred in connection with this Agreement and the transactions contemplated hereby, except that the Company agrees that, on the date hereof, it will pay (a) up to $80,000 to Akin Gump Strauss Hauer & Feld LLP
(“Akin Gump”), counsel to PCA Holdings, Holdings II and PPIV, and (b) up to $25,000 in the aggregate to the New Purchasers (excluding Holdings II) or their designees, for legal fees incurred by PCA Holdings, PPIV and the
New Purchasers in connection with this Agreement and the transactions contemplated hereby. Such payments shall be transmitted by wire transfer of immediately available funds to accounts previously designated by Akin Gump and the New Purchasers
(excluding Holdings II), respectively. 

  
 - 9 -

 (d) Assignment. At any time and from time to time, without the prior
consent of the Company, PCA Holdings may assign all or less than all of its Option to purchase Series G Units under this Agreement to an assignee of its choosing (an “Assignee”); provided that such Assignee executes
and delivers to the Company a joinder agreement substantially in the form attached hereto as Exhibit A, whereupon such Assignee shall become a Purchaser under this Agreement, with all the rights and obligations associated therewith. For the
avoidance of doubt, PCA Holdings shall not be liable in any way for any of the acts or omissions of any Assignee that PCA Holdings had good faith reason to believe could satisfy its obligations as a Purchaser hereunder. 

(e) Amendment and Waiver. The provisions of this Agreement may be amended and waived only with the prior written
consent of the Company and the Purchasers. 
 (f) Counterparts. This Agreement may be executed in
counterparts, each of which shall be an original and all of which shall constitute a single agreement. 
 (g)
Acceptance by the Company. It is understood that this subscription is not binding on the Company until the Company accepts it, which acceptance is at the sole discretion of the Company and shall be noted by execution of this Agreement by the
Company where indicated. 
 (h) Stockholder. Each Purchaser hereby acknowledges that, once accepted by the
Company, this subscription is not revocable by it. Each Purchaser agrees that, if this subscription is accepted, it shall, and it hereby elects to: (i) become a stockholder of the Company; (ii) be bound by the terms and provisions hereof;
and (iii) execute any and all further documents when and as reasonably requested by the Company in connection with the transactions contemplated by this Agreement. 
 * * * * * 

  
 - 10 -

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement to be effective as of
the date first written above. 
  

			
	COMPANY:
	
	LIGHTING SCIENCE GROUP CORPORATION
		
	By:	 	/s/ James Haworth
	Name: James Haworth
	Title: Chief Executive Officer

 Signature Page to Series G Unit Subscription Agreement 

 
			
	PURCHASERS:
	
	PCA LSG HOLDINGS, LLC
		
	By:	 	Pegasus Capital, LLC, its Managing Member
		
	By:	 	/s/ Craig M. Cogut
	Name: Craig M. Cogut
	Title: President & Managing Member
	
	PEGASUS PARTNERS IV, L.P.
		
	By:	 	Pegasus Investors IV, L.P., its general partner
		
	By:	 	Pegasus Investors IV GP, L.L.C., its general partner
		
	By:	 	/s/ Steven Wacaster
	Name: Steven Wacaster
	Title: Vice President

 Signature Page to Series G Unit Subscription Agreement 

 
			
	LSGC HOLDINGS II LLC
		
	By:	 	Pegasus Partners IV, L.P., its managing member
		
	By:	 	Pegasus Investors IV, L.P., its general partner
		
	By:	 	Pegasus Investors IV GP, L.L.C., its general partner
		
	By:	 	/s/ Richard Weinberg
	Name: Richard Weinberg
	Title: Vice President
	
	New Purchaser Series G Units: 6,458

 Signature Page to Series G Unit Subscription Agreement 

 
			
	
	ENSEMBLE LIGHTS, LLC
		
	By:	 	/s/ Richard Ruben
	Name: Richard Ruben
	Title: Managing Member
	
	New Purchaser Series G Units: 2,000

 Signature Page to Series G Unit Subscription Agreement 

 
			
	BELFER INVESTMENT PARTNERS L.P.
		
	By:	 	/s/ Laurence D. Belfer
	Name: Laurence D. Belfer
	Title: Managing Member of the G.P.
	
	New Purchaser Series G Units: 1,200

 Signature Page to Series G Unit Subscription Agreement 

 
			
	LIME PARTNERS, LLC
		
	By:	 	/s/ Eileen Aptman
	Name: Eileen Aptman
	Title: Managing Member
	
	New Purchaser Series G Units: 800

 Signature Page to Series G Unit Subscription Agreement 

 
			
		
		 	/s/ Alan Docter
	Alan Docter
	
	New Purchaser Series G Units: 1,000

 Signature Page to Series G Unit Subscription Agreement 

 
			
		
		 	/s/ Mark Kristoff
	Mark Kristoff
	
	New Purchaser Series G Units: 1,000

 Signature Page to Series G Unit Subscription AgreementUnassociated Document

Execution Copy

 

 

FORM OF ASSET PURCHASE AGREEMENT

 

by and among

 

GRAND RIVER NAVIGATION COMPANY, INC., as Purchaser,

 

and

 

U.S. BANK NATIONAL ASSOCIATION, as Trustee and Seller,

 

Dated as of December 1, 2011

 

 

[RAND - Asset Purchase Agreement]

  

  

  

 

ASSET PURCHASE AGREEMENT

 

ASSET PURCHASE AGREEMENT (this “Agreement”), dated as of November __, 2011, is made by and among Grand River Navigation Company, Inc., a corporation formed under the laws of Delaware (“Purchaser”), and U.S. Bank National Association, not in its individual capacity but solely in its capacity as Trustee for the Trust (defined below) (“Seller”).

 

RECITALS

 

WHEREAS, Seller is trustee of the GTC Connecticut Statutory Trust (“Trust”);

 

WHEREAS, pursuant to that certain (i) Second Amended and Restated Trust Agreement (GTC Connecticut Statutory Trust) dated as of December 28, 2007 (as modified, amended and/or supplemented, the “Trust Agreement”), by and between General Electric Capital Corporation (“GECC”), as owner participant, each of GATX and The CIT Group/Equipment Financing, Inc., a Delaware corporation (“CIT”), as additional owner participant, and Seller, as trustee, and (ii) Agreement to Acquire and Charter dated as of December 21, 2001 (as modified, amended and/or supplemented, the “Lease Back Agreement”), by and among the Trust, as shipowner, GECC, as owner participant, U.S. United Ocean Services, LLC (“USUOS”), as seller and charterer (“Charterer”), and United Maritime Group LLC (f/k/a TECO Transport Corporation), as successor guarantor ("UMG"), the Trust owns the Vessel (as hereinafter defined), and GATX is the beneficial owner of the Vessel;

 

WHEREAS, under the Trust Agreement, GATX has exclusive and discretionary authority to direct Seller to dispose of the Vessel as GATX determines in its sole discretion;

 

WHEREAS, Seller chartered the Vessels to USUOS pursuant to the Lease Back Agreement and that certain demise charter agreement dated December 21, 2001, as modified and amended, by and between Seller, not in its individual capacity but solely as trustee, as Shipowner, and Charterer, as charterer (“Demise Charter”);

 

WHEREAS, pursuant to that certain Early Termination and Option Agreement dated July 27, 2011 (the “Early Termination Agreement”), by and between Seller, as Trustee, GATX, as beneficial owner, UMG, as guarantor, and USUOS, as Charterer, USUOS has delivered a "Demise Charter Partial Termination and Option Exercise Notice" to Seller, electing to terminate the Demise Charter solely with respect to certain vessels, such termination to be effective simultaneous with the consummation of the transactions contemplated by this Asset Purchase Agreement;

 

WHEREAS, Seller now desires to sell, transfer and assign the Vessel to Purchaser and Purchaser desires to purchase the Vessel, upon the terms and subject to the conditions set forth herein.

 

NOW, THEREFORE, in consideration of the representations, warranties, covenants and agreements set forth herein, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows:

 

-1-

 

[RAND - Asset Purchase Agreement]

  

 

  

 

ARTICLE I

DEFINITIONS AND INTERPRETATION

 

Section 1.1.                           Certain Defined Terms. For purposes of this Agreement, the following terms shall have the following meanings:

 

“Action” means any action, claim, suit, arbitration, inquiry, proceeding or investigation by or before any Governmental Authority.

 

“Affiliate” means, with respect to any specified Person, any other Person that, directly or indirectly through one or more intermediaries, controls, is controlled by or is under common control with such specified Person.  For purposes of this definition, the term “control” means the power to direct or cause the direction of the management of a Person, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise; and the terms “controlled” and “controlling” have meanings correlative to the foregoing.

 

“Agreed Amount” has the meaning set forth in Section 8.9(c).

 

“Ancillary Agreements” means the other agreements, documents and certificates to be executed and delivered in connection with the transactions contemplated hereby.

 

“Business Day” means any day other than a Saturday, Sunday or any day on which banks in New York, New York are authorized or required by Law to be closed.

 

“CIT” has the meaning set forth in the Preamble.

 

“Claimed Amount” has the meaning set forth in Section 8.9(c).

 

“Claim Notice” has the meaning set forth in Section 7.5(a).

 

“Closing” has the meaning set forth in Section 3.2.

 

“Closing Date” has the meaning set forth in Section 3.2.

 

“Consent” means any consent, approval, authorization, qualification, waiver, registration or notification required to be obtained from, filed with or delivered to a Governmental Authority or any other Person in connection with the consummation of the transactions provided for herein.

 

“Damages” means any and all damages, losses, liabilities, costs and expenses (including expenses of investigation and reasonable fees and expenses of counsel and other professionals) paid or payable by an Indemnified Party.

 

“Demise Charter” has the meaning set forth in the Preamble.

 

“Early Termination Agreement” has the meaning set forth in the Preamble.

 

“GATX” has the meaning set forth in the Preamble.

 

-2-

 

[RAND - Asset Purchase Agreement]

  

 

  

 

“GECC” has the meaning set forth in the Preamble.

 

“General Enforceability Exceptions” means (i) applicable bankruptcy, reorganization, insolvency, moratorium or other similar Laws affecting the enforcement of creditors’ rights generally from time to time in effect and (ii) the availability of equitable remedies (regardless of whether enforceability is considered in a proceeding at law or in equity).

 

“Governmental Authority” means any foreign, federal, state, provincial, local or other government, governmental, regulatory or administrative authority, agency or commission, self-regulatory organization, or any court, tribunal or judicial or arbitral body.

 

“Indemnified Party” means a Purchaser Indemnified Party or a Seller Indemnified Party, as the case may be.

 

“Indemnifying Party” means a party that is required to indemnify any Indemnified Party pursuant to Article VII.

 

“Law” means any applicable law (statutory, common or otherwise), rule or regulation of any Governmental Authority and any award in any arbitration proceeding.

 

“Lease Back Agreement” has the meaning set forth in the Preamble.

 

“Leased Equipment” means all radio and communication and other equipment leased by USUOS in connection with the Vessel, including but not limited to the equipment listed on Schedule A.

 

“Liabilities” means any and all liabilities, debts, obligations and commitments of any nature whatsoever, whether known or unknown, accrued or fixed, absolute or contingent, or matured or unmatured, including those arising under any Law, License, Order, Action or contract.

 

“License” means any license, permit, consent, approval, certification or other authorization of any Governmental Authority.

 

“Lien” means, with respect to any asset or property, any lien, mortgage, pledge, hypothecation, charge, security interest or encumbrance of any kind in respect of such asset or property.

 

“Order” means any order, injunction, judgment, award, decree or ruling of any Governmental Authority.

 

“Other Vessel” means the ocean freight barge “Peggy Palmer” (O.N. 641530) together with all machinery, engines, instruments, rigging, anchors, chains, cables, tackle, apparel, accessories, equipment, radio installation and navigational equipment (other than personal computers and company-specific data, Leased Equipment and personal gear, which USUOS shall remove from the Vessel prior to Closing Date), inventory, stores, spare parts and all other appurtenances used in or relating to the Vessel, whether or not on board, and fuel, lubricant and bunkers on board the Vessel.

 

-3-

 

[RAND - Asset Purchase Agreement]

  

 

  

 

“Permit” means any license, permit, registration, franchise, variance, exemption, Order approval, authorization, consent, certificate, certificate of authority, American Bureau of Shipping certificate, Coast Guard certificate, qualification, order or similar document or authority required, issued or granted by any Governmental Authority.

 

“Person” means any individual, corporation, partnership, joint venture, limited liability company, association, trust, unincorporated organization or Governmental Authority.

 

“Purchase Price” has the meaning set forth in Section 3.1.

 

“Purchaser” has the meaning set forth in the Preamble.

 

“Purchaser Indemnified Parties” means (i) Purchaser, (ii) its Affiliates, (iii) their respective directors, officers, employees and agents, and (iv) their respective heirs, executors, successors and permitted assigns.

 

“Seller” has the meaning set forth in the Preamble.

 

“Seller Indemnified Parties” means (i) Seller, as Trust, as Trustee and in its individual capacity, (ii) its officers and directors, and (iii) their respective heirs, executors, successors and permitted assigns.

 

“Seller Liens” means Liens arising solely as the result of GATX’s or Seller’s acts or omissions (other than acts or omissions for which Seller or GATX is indemnified pursuant to the Trust Agreement, Lease Back Agreement or Demise Charter) or of claims or demands against GATX or Seller unrelated to (i) Seller’s ownership of the Vessel, (ii) the administration of the Trust Agreement, or (iii) the transactions contemplated by the Lease Back Agreement, the Demise Charter or the Trust Agreement.

 

“Tax” (including, with correlative meaning, the terms “Taxes” and “Taxable”) means (i) all foreign, federal, state, provincial and local taxes, duties or assessments of any nature whatsoever, including all income, profits, franchise, gross receipts, net receipts, capital stock, recording, stamp, document, transfer, severance, payroll, employment, unemployment, social security, disability, sales, use, property, withholding, excise, value-added, ad valorem, occupancy, insurance premium, surplus lines insurance, and other taxes, together with all interest, penalties, service fees and additions imposed by any Governmental Authority with respect to such amounts; and (ii) any liability for the payment of any Tax (A) as a result of being a member of an affiliated, consolidated, combined or unitary group, (B) as a result of any obligation under any Tax sharing, indemnity or similar agreement or arrangement or (C) as a result of transferee or successor liability, whether imposed by Law, contractual arrangement or otherwise.

 

“Tax Returns” means all returns and reports (including elections, declarations, disclosures, schedules, estimates and information returns) filed or required to be filed with any Governmental Authority relating to Taxes.

 

-4-

 

[RAND - Asset Purchase Agreement]

  

 

  

 

“Third Party Claim” means a pending or threatened claim asserted by a third party or the commencement of any Action by a third party in respect of which indemnification shall be sought hereunder.

 

“Transfer Taxes” means all transfer, documentary, sales, use, value added, recording, stamp, gains and similar Taxes, together with all interest, penalties, service fees and additions imposed by any Governmental Authority with respect to such amounts and any interest in respect of such penalties and additions.

 

“Trust” has the meaning set forth in the Preamble.

 

“Trust Agreement” has the meaning set forth in the Preamble.

 

"UMG" has the meaning set forth in the Preamble.

 

“USOUS” has the meaning set forth in the Preamble.

 

“Vessel” means the ocean freight barge “Mary Turner” (O.N. 646730) together with all machinery, engines, instruments, rigging, anchors, chains, cables, tackle, apparel, accessories, equipment, radio installation and navigational equipment (other than personal computers and company-specific data, Leased Equipment and personal gear, which USUOS shall remove from the Vessel prior to Closing Date), inventory, stores, spare parts and all other appurtenances used in or relating to the Vessel, whether or not on board, and fuel, lubricant and bunkers on board the Vessel.

 

“Vessel Stores and Equipment” means such additional outfit, furniture, furnishings, appliances, spare and replacement parts, tools and stores, whether on board or on shore, provided by Seller for the operation of the Vessel that is the property of Seller pursuant to Section 5(a) of the Demise Charter.

 

ARTICLE II

PURCHASE AND SALE

 

Section 2.1.                      Purchase of Vessel. Subject to Section 2.2, upon the terms and subject to the conditions set forth herein, at the Closing, Seller shall sell, transfer, assign, convey and deliver to Purchaser, and Purchaser shall purchase and acquire from Seller, free and clear of all Seller Liens, all of Seller's right, title and interest in and to the Vessel and the Vessel Stores and Equipment.  None of Seller’s assets other than the Vessel and the Vessel Stores and Equipment shall be sold to Purchaser pursuant to this Agreement.

 

Section 2.2.                      No Assumed Liabilities. Seller shall retain and shall be responsible for paying, performing and discharging when due, and Purchaser and its Affiliates shall not assume or have any responsibility for, any and all Liabilities of Seller, whether arising prior to, on or after the Closing Date.  Notwithstanding anything herein to the contrary, Liabilities of Seller shall exclude any Liabilities given rise to by the acts or omissions of the Purchaser Indemnified Parties, whether arising prior to, on or after the Closing Date.

 

-5-

 

[RAND - Asset Purchase Agreement]

  

 

  

 

ARTICLE III

PURCHASE PRICE; CLOSING

 

Section 3.1.                      Purchase Price. The purchase price for the Vessel shall be ELEVEN MILLION FIVE HUNDRED NINETY SEVEN THOUSAND THREE HUNDRED SEVENTY FIVE DOLLARS (US$ 11,597,375.00) (the “Purchase Price”).

 

Section 3.2.                      Closing. The closing of the transactions contemplated by this Agreement (the “Closing”) shall take place at the offices of Sheppard, Mullin, Richter & Hampton LLP, 30 Rockefeller Plaza, New York, New York 10112, simultaneously with the execution of this Agreement (the date of the Closing being referred to herein as the “Closing Date.”)  All documents delivered and actions taken at the Closing shall be deemed to have been delivered or taken simultaneously and no proceedings will be deemed to have been taken nor documents executed or delivered until all have been taken, executed and delivered.

 

Section 3.3.                      Closing Deliveries of Seller. At the Closing, Seller shall deliver (or cause to be delivered) to Purchaser each of the following:

 

(a)           a bill of sale transferring the Vessel to Purchaser, duly executed by Seller and recordable by the National Vessel Documentation Center, in the form of Coast Guard Form CG-1340 attached hereto as Exhibit A;

 

(b)           a certificate of delivery and acceptance in the form attached hereto as Exhibit B, duly executed by Seller;

 

(c)           proof of removal of the Vessel under the Demise Charter;

 

(d)           releases, including termination statements under the Uniform Commercial Code of any financing statements filed against the Vessel evidencing discharge, removal and termination of all Liens to which the Vessel is subject;

 

(e)           a Certificate of Ownership of Vessel for the Vessel issued by the National Vessel Documentation Center on Coast Guard Form CG-1330;

 

(f)           an Abstract of Title for the Vessel issued by the National Vessel Documentation Center on Coast guard Form CG-1332;

 

(g)           a certificate of the Secretary of Seller, dated the Closing Date, as to the due authorization by Seller of this Agreement, the Ancillary Agreements and all other documents contemplated hereby and thereby, the transactions contemplated hereby and thereby and the directions to the Trustee to consummate the transactions contemplated hereby and thereby, and

 

(h)           evidence satisfactory to Purchaser that any Consents required to be obtained by Seller in connection with the execution and performance of this Agreement by Seller have been obtained.

 

-6-

 

[RAND - Asset Purchase Agreement]

  

 

  

 

Section 3.4.                      Closing Deliveries of Purchaser. At the Closing, Purchaser shall deliver to Seller (or cause to be delivered) each of the following:

 

(a)           the Purchase Price by wire transfer of immediately available funds to an account designated by Seller;

 

(b)           a certificate of delivery and acceptance in the form attached hereto as Exhibit B, duly executed by Purchaser;

 

(c)           a certificate of the secretary of Purchaser, dated the closing date, setting forth the resolutions of the board of directors of Purchaser approving this Agreement, the Ancillary Agreements and all other documents contemplated hereby and thereby, and authorizing the transactions contemplated hereby and thereby; and

 

(d)           evidence satisfactory to Seller that any Consents required to be obtained by Purchaser in connection with the execution and performance of this Agreement by Purchaser have been obtained.

 

ARTICLE IV

REPRESENTATIONS AND WARRANTIES OF SELLER

 

As an inducement to Purchaser to enter into this Agreement and to consummate the transactions contemplated hereby, Seller represents and warrants to Purchaser as follows:

 

Section 4.1.                      Legal Existence and Organization; Citizenship and Coastwise Endorsements. The Trust is validly existing under the laws of the State of Connecticut.  Seller is a “citizen of the United States” within the meaning of 46 U.S.C. § 50501 for the purpose of owning and operating the Vessels in the coastwise trades of the United States.

 

Section 4.2.                      Legal Power; Authorization; Enforceable Obligations.  Seller has the requisite corporate power and authority to execute and deliver this Agreement and the Ancillary Agreements, and to consummate the transactions contemplated hereby and thereby.  The execution and delivery of this Agreement and the Ancillary Agreements, and the consummation of the transactions contemplated hereby and thereby, have been duly and validly authorized by all necessary corporate action on the part of Seller.  This Agreement and the Ancillary Agreements have been duly and validly executed and delivered by Seller and constitute the legal, valid and binding obligations of Seller.  This Agreement and the Ancillary Agreements are enforceable against Seller in accordance with their terms, except as limited by the General Enforceability Exceptions.

 

Section 4.3.                      No Conflict; Required Filings and Consents.

 

(a)           Neither the execution and delivery of this Agreement and the Ancillary Agreements by Seller, nor the consummation by Seller of the transactions contemplated hereby and thereby, nor compliance by Seller with any of the provisions hereof and thereof, will (i) conflict with or result in a breach any provisions of the Trust Agreement or other governing documents of Seller, (ii) constitute or result in the breach or violation of any term, condition or provision of, or constitute a default under (without regard to requirements of notice, passage of time or elections of any Person), or give rise to any right of termination, cancellation or acceleration with respect to, or result in the creation or imposition of a Lien upon the Vessel, pursuant to any note, bond, mortgage, indenture, license, agreement, lease or other instrument or obligation to which it is a party or by which Seller is a party, (iii) violate any Order, Permit or Law applicable to Seller or give any third party or Governmental Authority the right to revoke, withdraw, suspend, cancel, terminate or modify any Permit held by Seller, or (iv) give any Person the right to challenge any of the transactions contemplated by this Agreement or the Ancillary Agreements or to exercise any remedies or obtain any relief under any Laws or Orders to which Seller may be subject.

 

-7-

 

[RAND - Asset Purchase Agreement]

  

 

  

 

(b)           No Consent is necessary for the consummation by Seller of the transactions contemplated by this Agreement or the Ancillary Agreements.

 

Section 4.4.                      No Third Party Options; No Contractual Obligations.

 

(a)           Except for the Demise Charter, the Lease Back Agreement, and the Trust Agreement, Seller is not party to any existing (written or oral) agreements, options, commitments or rights with, of or to any person to acquire the Vessel or any interest in or rights to the Vessel.

 

(b)           Except for the Demise Charter, neither Seller nor any of its Affiliates are party to any charter agreement, contract of affreightment or other agreement (written or oral) which either (i) provides for the use of the Vessel by or for the benefit of, or the transport of goods of, any Person or (ii) restricts or limits the use or operation of the Vessel in any manner or in any geographic region.

 

Section 4.5.                      Title to Vessel. Seller has such title to the Vessel as it is received under the Lease Back Agreement, and hereby conveys the Vessel “as is,” “where is,” without recourse or warranty of any kind, provided that the Vessel is free and clear of any Seller Liens.

 

Section 4.5                       Condition of Vessel. The Vessel is being purchased “as is,” “where is,” in whatever condition the Vessel may be in on the date of the Closing.  SELLER IS NOT A MANUFACTURER OF OR DEALER IN ANY VESSELS, AND THE SELLER HAS NOT INSPECTED THE VESSEL PRIOR TO DELIVERY TO AND ACCEPTANCE BY PURCHASER.  SELLER HAS NOT MADE, AND SHALL NOT, BY VIRTUE OF HAVING SOLD THE VESSEL, BE DEEMED TO HAVE MADE, ANY REPRESENTATION OR WARRANTY EXPRESS OR IMPLIED, NOW OR HEREAFTER, AS TO ANY MATTER WHATSOEVER INCLUDING, WITHOUT LIMITATION, THE MERCHANTABILITY, VALUE, FITNESS FOR ANY PARTICULAR PURPOSE OR USE, DESIGN OR CONDITION OF, ANY PATENT INFRINGEMENT OF, OR LATENT DEFECT (WHETHER OR NOT DISCOVERABLE) IN, OR AS TO THE QUALITY OF, THE VESSEL OR THE MATERIAL OR WORKMANSHIP IN THE VESSEL.  THE VESSEL IS SOLD TO PURCHASER “AS IS, WHERE IS” AND “WITH ALL FAULTS”.  Seller disclaims any liability to Purchaser with respect to the condition of the Vessel, including, without limitation, any liability in tort or arising from negligence, strict liability or for loss or interruption of use, profit or business or other consequential injury, and Purchaser waives, releases, renounces and disclaims expectation of or reliance upon any such warranty or warranty.

 

-8-

 

[RAND - Asset Purchase Agreement]

  

 

  

 

Section 4.6.                      Litigation.  There is no Action pending or to Seller’s knowledge threatened in writing against Seller or any of its Affiliates affecting the Vessel or that seeks to delay or prevent the consummation of this Agreement or any other Ancillary Agreements or any action taken or to be taken hereby or thereby.

 

Section 4.7.                      Compliance with Laws.

 

(a)           Seller is, and has been, in material compliance with all Laws and Orders applicable to Seller’s ownership of the Vessel.

 

(b)  Seller has received no written notification or other notification or communication from any Governmental Authority or other Person asserting that Seller is not in compliance with any Law or Order applicable to Seller’s ownership of the Vessel and no facts relating to Seller and/or the Vessel exist which could reasonably give rise to any claim that any such violation exists.

 

(c)           (i) There is no pending or, to Seller's knowledge, threatened investigation, audit, review or other examination of Seller with respect to Seller’s ownership of the Vessel by any Governmental Authority and (ii) Seller is not subject to, nor has Seller received any notice that it may become subject to, any Order, agreement, memorandum of understanding or other regulatory enforcement action or Action with respect to Seller’s ownership of the Vessel.

 

Section 4.8.                      No Broker.  No broker, finder, investment banker or other intermediary is entitled to any fee or commission in connection with the transactions contemplated by this Agreement based upon arrangements made by or on behalf of Seller.

 

ARTICLE V

REPRESENTATIONS AND WARRANTIES OF PURCHASER

 

As an inducement to Seller to enter into this Agreement and to consummate the transactions contemplated hereby, Purchaser represents and warrants to Seller as follows:

 

Section 5.1.                      Legal Existence and Organization. Purchaser is a corporation duly organized, validly existing and in good standing under the laws of Delaware.  Purchaser is duly qualified to do business, and is in good standing, in each jurisdiction in which the character of the properties owned or leased by it or in which the conduct of its requires it to be so qualified.  Purchaser is a “citizen of the United States” within the meaning of 46 U.S.C. § 50501 for the purpose of owning and operating the Vessel in the coastwise trades of the United States.

 

Section 5.2.                      Legal Power; Authorization; Enforceable Obligation. Purchaser has the requisite corporate power and authority to execute and deliver this Agreement and the Ancillary Agreements and all agreements and documents contemplated hereby and thereby to be executed and delivered by it, and to consummate the transactions contemplated hereby and thereby.  The execution and delivery of this Agreement and the Ancillary Agreements, and the consummation of the transactions contemplated hereby and thereby, have been duly and validly authorized by all necessary corporate action on the part of Purchaser.  This Agreement and the Ancillary Documents have been duly and validly executed and delivered by Purchaser and constitute the legal, valid and binding obligations of Purchaser.  This Agreement and the Ancillary Agreements are enforceable against Purchaser in accordance with their terms, except as limited by the General Enforceability Exceptions.

 

-9-

 

[RAND - Asset Purchase Agreement]

  

 

  

 

Section 5.3.                      No Conflicts; Consents.

 

(a)           Neither the execution and delivery of this Agreement and the Ancillary Agreements by Purchaser, nor the consummation by Purchaser of the transactions contemplated hereby and thereby, nor compliance by Purchaser with any of the provisions hereof and thereof, will (i) conflict with or result in a breach of any provisions of the articles of incorporation, by-laws or other governing documents of Purchaser, (ii) constitute or result in the breach or violation of any term, condition or provision of, or constitute a default under (without regard to requirements of notice, passage of time or elections of any Person), or give rise to any right of termination, cancellation or acceleration with respect to, or result in the creation or imposition of a Lien upon any property of Purchaser, pursuant to any note, bond, mortgage, indenture, license, agreement, lease or other instrument or obligation to which it is a party or by which Purchaser may be subject, (iii) violate any Order, Permit or Law applicable to Purchaser or give any third party or Governmental Authority the right to revoke, withdraw, suspend, cancel, terminate or modify any Permit held by Purchaser, or (iv) give any Person the right to challenge any of the transactions contemplated by this Agreement and the Ancillary Agreements or to exercise any remedies or obtain any relief under any Laws or Orders to which Purchaser may be subject.

 

(b)           Other than the Consent of its lender, no Consent is necessary for the consummation by Purchaser of the transactions contemplated by this Agreement or the Ancillary Agreements.

 

Section 5.4.                      No Broker. No broker, finder, investment banker or other intermediary is entitled to any fee or commission in connection with the transactions contemplated by this Agreement based upon arrangements made by or on behalf of Purchaser.

 

ARTICLE VI

COVENANTS AND AGREEMENTS

 

Section 6.1.                      Sale of the Other Vessel.  Seller and Purchaser acknowledge and agree that the Closing under this Agreement is contingent upon and forms a part of the consummation of the sale of the Other Vessel and payment to Seller of the aggregate Purchase Price as set forth on Appendix A of the Early Termination Agreement on the Closing Date.

 

Section 6.2.                      Transfer Taxes.  All Transfer Taxes which may be payable in connection with the transactions contemplated by this Agreement and the Ancillary Agreements shall be borne by Purchaser.  The party responsible under applicable Law for filing any Tax Return or other documentation relating to Transfer Taxes shall file such Tax Return or other documentation at its own expense, and the non-filing party shall use commercially reasonable efforts to cooperate with the filing party and join in the execution of any such Tax Returns and other documentation, if required.

 

-10-

 

[RAND - Asset Purchase Agreement]

  

 

  

 

Section 6.3.                      Use of Vessel’s Name. At any time and from time to time following the Closing, Purchaser may, at its sole discretion, change the name of the Vessel.  Notwithstanding the foregoing, following the Closing, Purchaser shall have the sole right to continue to use the name “Mary Turner” with respect to its documentation of the Vessel with the Coast Guard and its operation of the Vessel.

 

Section 6.4.                      Further Assurances.  At any time and from time to time following the Closing, as and when requested by Purchaser and without further consideration, Seller shall execute and deliver, or cause to be executed and delivered, such other documents and instruments and shall take, or cause to be taken, such further or other actions as Purchaser may reasonably request or as otherwise may be necessary or desirable to evidence and effectuate the transactions contemplated by this Agreement and the Ancillary Agreements.

 

ARTICLE VII

INDEMNIFICATION

 

Section 7.1.                      Survival.

 

(a)           The representations and warranties of the parties contained in this Agreement shall survive the Closing Date for a period of ninety (90) days after expiration of the statute of limitations applicable to the matters covered thereby.  The covenants and agreements of the parties contained in this Agreement shall survive the Closing Date until the date explicitly specified therein or, if not so specified, indefinitely or until the latest date permitted by Law.

 

(b)           Notwithstanding the preceding paragraph (a), any breach of any representation, warranty, covenant or agreement in respect of which indemnification may be sought under this Article VII shall survive the time at which it otherwise would terminate pursuant to the preceding paragraph if a good faith notice of the breach giving rise to such right of indemnification shall have been given to the party against whom indemnification may be sought prior to such time.

 

Section 7.2.                      Indemnification by Seller. Subject to the limitations set forth in this Article VII, Seller shall indemnify, defend and hold harmless the Purchaser Indemnified Parties from and against any and all Damages incurred or suffered by the Purchaser Indemnified Parties (whether or not involving a Third Party Claim) resulting from, in connection with or arising out of:  (a) any breach of, or inaccuracy in, any representation or warranty of Seller contained in this Agreement or any Ancillary Agreement; (b) any breach of, or failure to perform, any covenant or agreement of Seller contained in this Agreement or any Ancillary Agreement; (c) any and all Liabilities of Seller, including Liabilities arising out of the ownership of the Vessel prior to the Closing, other than Liabilities given rise to by the acts or omissions of Purchaser Indemnified Parties; or (d) any and all Actions against any Purchaser Indemnified Parties that relate to the Vessel if the principal event giving rise thereto occurred prior to the Closing, other than Actions given rise to by the acts or omissions of the Purchaser Indemnified Parties. Nothing set forth in this Agreement shall be deemed to release, waive or diminish any indemnification obligations of Charterer to Seller under the Demise Charter.

 

-11-

 

[RAND - Asset Purchase Agreement]

  

 

  

 

Section 7.3.                      Indemnification by Purchaser.Subject to the limitations set forth in this Article VII, Purchaser shall indemnify, defend and hold harmless the Seller Indemnified Parties from and against any and all Damages incurred or suffered by the Seller Indemnified Parties (whether or not involving a Third Party Claim) resulting from, in connection with or arising out of:  (a) any breach of, or inaccuracy in, any representation or warranty of Purchaser contained in this Agreement or any Ancillary Agreement; (b) any breach of, or failure to perform, any covenant or agreement of Purchaser, including Liabilities contained in this Agreement or any Ancillary Agreement; (c) any and all Liabilities of Purchaser, including Liabilities arising out of the ownership and operation of the Vessel after the Closing, other than Liabilities given rise to by the acts or omissions of the Seller Indemnified Parties; or (d) any and all Actions against any Seller Indemnified Parties that relate to the Vessel if the principal event giving rise thereto occurred after the Closing, other than Actions given rise to by the acts or omissions of the Seller Indemnified Parties.

 

Section 7.4.                      Limitations on Indemnification. The maximum aggregate liability of Seller under Section 7.2 shall not exceed the Purchase Price.

 

Section 7.5.                      Procedure for Third Party Claims.

 

(a)           Notice.  Promptly after an Indemnified Party has received notice or has knowledge of any Third Party Claim, the Indemnified Party shall give the Indemnifying Party written notice (a “Claim Notice”) describing in reasonable detail the nature and basis of the Third Party Claim and, if ascertainable, the amount in dispute under the Third Party Claim; provided, however, that the failure of the Indemnified Party to give such notice shall not relieve the Indemnifying Party of its obligations to provide indemnification hereunder except to the extent (and only to the extent) that the Indemnifying Party shall have been adversely prejudiced by such failure.

 

(b)           Defense.  Subject to the limitations set forth in this Section 7.5(b), in the event of a Third Party Claim, the Indemnifying Party shall have the right (exercisable by written notice to the Indemnified Party within ten (10) days after the Indemnified Party has given a Claim Notice of the Third Party Claim) to elect to conduct and control, through counsel of its choosing and at the Indemnifying Party’s sole cost and expense, the defense, compromise or settlement of the Third Party Claim if the Indemnifying Party (i) has acknowledged and agreed in writing that, if the same is adversely determined, the Indemnifying Party shall provide indemnification to the Indemnified Party in respect thereof; provided, however, that the Indemnified Party may participate therein through separate counsel chosen by it and at its sole cost and expense.  Notwithstanding the foregoing, if (A) the Indemnifying Party shall not have given notice of its election to conduct and control the defense of the Third Party Claim within such 15 day period, (B) the Indemnifying Party shall fail to conduct such defense diligently and in good faith, (C) the Indemnified Party shall reasonably determine on written advice of outside counsel that use of counsel selected by the Indemnifying Party to represent the Indemnified Party would present such counsel with an actual or potential conflict of interest, or (D) the Third Party Claim is for injunctive, equitable or other non-monetary relief against the Indemnified Party, then in each such case the Indemnified Party shall have the right to control the defense, compromise or settlement of the Third Party Claim with counsel of its choice at the Indemnifying Party’s sole cost and expense.  In connection with any Third Party Claim, from and after delivery of a Claim Notice, the Indemnifying Party and the Indemnified Party shall, and shall cause their respective Affiliates and representatives to, cooperate fully in connection with the defense or prosecution of such Third Party Claim, including furnishing such records, information and testimony and attending such conferences, discovery proceedings, hearings, trials and appeals as may be reasonably requested by the Indemnifying Party or the Indemnified Party in connection therewith.  In addition, the party controlling the defense of any Third Party Claim shall keep the non-controlling party advised of the status thereof and shall consider in good faith any recommendations made by the non-controlling party with respect thereto.

 

-12-

 

[RAND - Asset Purchase Agreement]

  

 

  

 

(c)           Settlement Limitations.  Except as set forth below, no Third Party Claim may be settled or compromised (i) by the Indemnified Party without the prior written consent of the Indemnifying Party (not to be unreasonably withheld, conditioned or delayed) or (ii) by the Indemnifying Party without the prior written consent of the Indemnified Party (not to be unreasonably withheld, conditioned or delayed).  Notwithstanding the foregoing, (A) the Indemnified Party shall have the right to pay, settle or compromise any Third Party Claim, provided that in such event the Indemnified Party shall waive all rights against the Indemnifying Party to indemnification under this Article VII with respect to such Third Party Claim unless the Indemnified Party shall have sought the consent of the Indemnifying Party to such payment, settlement or compromise and such consent shall have been unreasonably withheld, conditioned or delayed; and (B) the Indemnifying Party shall have the right to consent to the entry of a judgment or enter into a settlement with respect to any Third Party Claim without the prior written consent of the Indemnified Party if the judgment or settlement (x) involves only the payment of money damages (all of which will be paid in full by the Indemnifying Party concurrently with the effectiveness thereof), (y) will not encumber any of the assets of the Indemnified Party and will not contain any restriction or condition that would apply to or adversely affect the Indemnified Party or the conduct of its business, and (z) includes, as a condition to any settlement or other resolution, a complete and irrevocable release of the Indemnified Party from all liability in respect of such Third Party Claim and includes no admission of wrongdoing.

 

(d)           Reimbursement.  Damages shall be reimbursed by periodic payments of the amount thereof during the course of the investigation or defense, as and when bills or invoices with respect to such Damages are received by the Indemnifying Party.

 

Section 7.6.                      Exclusive Remedy.  From and after the Closing, except for remedies for injunctive or equitable relief, claims for fraud or intentional misrepresentation or as otherwise expressly provided in this Agreement or the Ancillary Agreements, the indemnification rights set forth in this Article VII shall be the sole and exclusive remedy for any claim arising out of this Agreement or the Ancillary Agreements.

 

Section 7.7.                      Treatment of Indemnification Payments. All indemnification payments made under this Agreement shall be treated by the parties as an adjustment to the Purchase Price for Tax purposes.  In the event that any Governmental Authority successfully asserts that such indemnification payments are taxable, then such indemnification payments shall be made on an after-Tax basis.

 

-13-

 

[RAND - Asset Purchase Agreement]

  

 

  

 

Section 7.8.                      Effect of Investigation. The right of any Indemnified Party to indemnification, payment of Damages and other remedies provided for herein based on a breach of any representation, warranty, covenant or agreement of any party contained in or made pursuant to this Agreement or Ancillary Agreement shall not be deemed waived or otherwise affected by any information furnished to, any investigation conducted by, or any knowledge of, any Indemnified Party.

 

Section 7.9.                      No Punitive Damages. Notwithstanding anything herein to the contrary, no party shall be entitled to payment for an indemnification claim under this Article VII to recover punitive damages of any nature.

 

ARTICLE VIII

GENERAL PROVISIONS

 

Section 8.1.                      Notices. All notices, requests, claims, demands or other communications required or permitted hereunder shall be in writing signed by or on behalf of the party making the same, and shall be deemed given or delivered (w) when delivered personally, (x) if sent from within the United States by registered or certified mail, postage prepaid, return receipt requested, on the third (3rd) Business Day after mailing, (y) if sent by messenger or reputable overnight courier service, when received or (z) if sent by facsimile, when transmitted and confirmed during normal business hours (or, if delivered after the close of normal business hours, at the beginning of business hours on the next business day); and shall be addressed to each party at the following addresses (or at such other address for a party as shall be specified in a notice given in accordance with this Section 8.1):

 

(a)           If to Purchaser, to:

 

c/o Rand Logistics, Inc.

500 Fifth Avenue, 50th Floor

New York, NY 10110

Tel:  (212) 644-3450

Fax: (212) 644-6262

Attention:  President

 

With a copy (which shall not constitute notice) to:

 

Katten Muchin Rosenman LLP

575 Madison Avenue

New York, NY 10022

Tel: (212) 940-8800

Fax: (212) 940-8776

Attention:  Todd J. Emmerman, Esq.

 

-14-

 

[RAND - Asset Purchase Agreement]

  

 

  

 

(b)           If to Seller, to:

 

U.S. Bank National Association

225 Asylum Street, 23rd Floor

Hartford, CT  06103

Tel: 860-241-6817

Fax: :  860-241-6897

Attention:  Elizabeth C. Hammer / Mary Turner

 

With a copy (which shall not constitute notice) to:

 

Shipman & Goodwin, LLP

One Constitution Plaza

Hartford, CT 06103-1919

Tel: 860-251-5918

Fax: 860 251-5212

Attention:  Leslie L. Davenport, Esq.

With an additional copy (which shall not constitute notice) to:

 

GATX Corporation

Four Embarcadero Center, Suite 2100

San Francisco, CA 94111

Tel: 415-955-3477

Fax: 415-955-3444

Attention:  Jeanne Sexton

Section 8.2.                      Execution in Counterparts. This Agreement may be executed in any number of original, facsimile or portable document format “PDF” counterparts, each of which shall have the same legal effect as an original, but all of which together shall constitute one and the same instrument.

 

Section 8.3.                      Expenses. Except as otherwise provided in this Agreement and hereunder, each party hereto shall pay its own expenses incidental to the preparation of this Agreement, the carrying out of the provisions of this Agreement and the consummation of the transactions contemplated hereby.

 

Section 8.4.                      Amendments and Waivers. Any provision of this Agreement may be amended or waived if such amendment or waiver is in writing and signed, in the case of an amendment, by an authorized representative of each party, or in the case of a waiver, by the party against whom the waiver is to be effective.  No failure or delay by any party in exercising any right, power or privilege hereunder shall operate as a waiver thereof, nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege.

 

-15-

 

[RAND - Asset Purchase Agreement]

  

 

  

 

Section 8.5.                      Severability. Wherever possible, each provision hereof shall be interpreted in such manner as to be effective and valid under applicable Law, but if any one or more of the provisions contained herein shall, for any reason, be held to be invalid, illegal or unenforceable in any respect by a court of competent jurisdiction, such provision shall be ineffective to the extent, but only to the extent, of such invalidity, illegality or unenforceability without invalidating the remainder of such invalid, illegal or unenforceable provision or provisions or any other provisions hereof, unless such a construction would be unreasonable.

 

Section 8.6.                      Assignment; Successors and Assigns. Neither this Agreement nor any of the rights, interests or obligations of any party hereunder may be assigned, delegated or otherwise transferred by such party, in whole or in part (whether by operation of law or otherwise), without the prior written consent of the other party, and any attempt to make any such assignment, delegation or other transfer without such consent shall be null and void; provided, however, that at and after the Closing, Purchaser may collaterally assign its rights and interests hereunder, without the consent of Seller, to any lender.  Subject to the preceding sentences, this Agreement shall be binding upon, inure to the benefit of and be enforceable by the parties and their respective successors and permitted assigns.

 

Section 8.7.                      No Third Party Beneficiaries. Nothing in this Agreement, express or implied, is intended or shall be construed to confer upon any third party, other than the parties hereto and their respective successors and assigns permitted by Section 8.6, any right, remedy or claim under or by reason of this Agreement.

 

Section 8.8.                      Publicity. No public release or announcement concerning the transactions contemplated hereby shall be issued by any party on or after the Closing Date without the prior consent (which consent shall not be unreasonably withheld) of the other party, except in the event as such release or announcements may be required by law, in which case the party required to make the release or announcement shall allow the other party reasonable time to comment on such release or announcement in advance of such issuance.

 

Section 8.9.                      Governing Law; Arbitration; Direct Claims.

 

(a)           This Agreement shall be governed by, and construed in accordance with, the laws of the State of New York, without giving effect to any choice of law or conflict of law provision or rule.

 

(b)           Any dispute, controversy or claim directly or indirectly relating to or arising out of this agreement shall be submitted to binding arbitration in New York, New York with The Society of Maritime Arbitrators, Inc. in accordance with the rules and procedures thereof.  Notwithstanding the foregoing, the parties to this agreement hereby acknowledge and agree that each shall be entitled to utilize the courts within the State of New York for the purposes of obtaining injunctive relief or other equitable remedies in order to avoid irreparable harm to such party that might otherwise result from delays caused by the arbitration process.  The award in the arbitration shall be final and binding and judgment thereon may be entered in any court having jurisdiction.  The costs and expenses (including reasonable attorney’s fees) of the prevailing party shall be borne and paid by the party that the arbitrator, or arbitrators, determine is the non-prevailing party.  Seller and Purchaser each hereby agree and consent to personal jurisdiction and venue in any federal or state court within the State of New York in connection with any action brought to enforce an award in arbitration.

 

-16-

 

[RAND - Asset Purchase Agreement]

  

 

  

 

(c)           In the event an Indemnified Party shall have a claim for indemnification hereunder that does not involve a Third Party Claim, the Indemnified Party shall, as promptly as practicable, deliver to the Indemnifying Party a written notice that contains (a) a description and the amount (the “Claimed Amount”) of any Damages incurred or suffered by the Indemnified Party, (b) a statement that the Indemnified Party is entitled to indemnification under Article VII and a reasonable explanation of the basis therefore, and (c) a demand for payment by the Indemnifying Party.  Within 30 days after delivery of such written notice, the Indemnifying Party shall deliver to the Indemnified Party a written response in which the Indemnifying Party shall (i) agree that the Indemnified Party is entitled to receive all of the Claimed Amount (in which case such response shall be accompanied by a payment by the Indemnifying Party of the Claimed Amount), (ii) agree that the Indemnified Party is entitled to receive part, but not all, of the Claimed Amount (the “Agreed Amount”) (in which case such response shall be accompanied by payment by the Indemnifying Party of the Agreed Amount), or (iii) contest that the Indemnified Party is entitled to receive any of the Claimed Amount.  If the Indemnifying Party contests the payment of all or part of the Claimed Amount, the Indemnifying Party and the Indemnified Party shall use good faith efforts to resolve such dispute as promptly as practicable.  If such dispute is not resolved within 30 days following the delivery by the Indemnifying Party of such response, the Indemnified Party and the Indemnifying Party shall each have the right to submit such dispute to arbitration in accordance with the provisions of subsection (b) of this Section 8.9.

 

Section 8.11.                      Headings. Article titles and headings to sections herein are inserted for convenience of reference only and are not intended to be a part of or to affect the meaning or interpretation of this Agreement.  The schedules and Exhibits referred to herein shall be construed with and as an integral part of this Agreement to the same extent as if they were set forth verbatim herein.

 

Section 8.12.                      Number and Gender. Whenever the context of this Agreement requires, words used in the singular shall be construed to include the plural and vice versa, and pronouns of whatsoever gender shall be deemed to include and designate the masculine, feminine, or neuter gender.

 

Section 8.13.                      Specific Performance. Each party agrees that if any of the provisions of this Agreement were not performed by Purchaser, on the one hand, or Seller, on the other hand, in accordance with their specific terms or were otherwise breached by such parties, irreparable damage would occur, no adequate remedy at law would exist and damages would be difficult to determine, and that the non-breaching party will be entitled to specific performance of the terms hereof.  Each parties waives any requirement for the posting of a bond in connection with any Action seeking specific performance; provided, however, that nothing herein will affect the right of any party to seek recovery against any party hereto, at law, in equity or otherwise, with respect to any covenants, agreements or obligations to be performed by such party after the Closing Date.

 

-17-

 

[RAND - Asset Purchase Agreement]

  

 

  

 

Section 8.14.                      Entire Agreement; Integration. This Agreement (including the Schedules and Exhibits) and the Ancillary Agreements (a) constitute the entire agreement and understanding among the parties with respect to the subject matter contained herein, and (b) supersede any and all prior and/or contemporaneous agreements and understandings, both written and oral, among the parties with respect to such subject matter.

 

Section 8.15.                      Limitation of Liability.  It is understood and agreed that Seller is entering into this Agreement solely in its capacity as trustee under the Trust Agreement and that all of the representations, warranties, undertakings and agreements by and for the purpose of binding the Trust are not the responsibility of the Seller individually but are intended solely for the purpose of binding the Trust and that the Seller shall not be liable or accountable in its individual capacity in any circumstances whatsoever except as otherwise expressly provided in this Agreement or in the Trust Agreement.  It is further agreed that all persons having any claims against the Trust as a result of the transactions contemplated by this Agreement shall look solely to the Trust for satisfaction thereof, except as provided in the first sentence of this Section 8.15.

 

[Remainder of this page intentionally left blank; signature page follows]

 

-18-

 

[RAND - Asset Purchase Agreement]

  

 

  

 

IN WITNESS WHEREOF, each party has caused this Asset Purchase Agreement to be duly executed and delivered as of the date first written above.

 

	 	
GRAND RIVER NAVIGATION COMPANY, INC.

	 
	 	 	 	 
	
 

	
By: 

	/s/ Joseph W. McHugh, Jr.	 
	 	Name:  	Joseph W. McHugh, Jr.	 
	 	Title:  	Vice President	 

 

	 	

U.S. BANK NATIONAL ASSOCIATION, as Trustee of the GTC Connecticut Statutory Trust

	 
	 	 	 	 
	
 

	
By: 

	/s/ Elizabeth C. Hammer	 
	 	Name:  	Elizabeth C. Hammer	 
	 	Title:  	Vice President	 
	 	 	 	 

 

 

[RAND - Asset Purchase Agreement]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00197-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00197-of-00352.parquet"}]]