SEC Contract Filing

Filing Date: 2017-02-28

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ex1010228178k.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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<div><a name="sC3A407BC617F44D5316586CBCF6C04C0"></a></div><div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><div><br></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">ASSET PURCHASE AGREEMENT</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">THIS ASSET PURCHASE AGREEMENT (this &#8220;Agreement&#8221;) is made as of February 23, 2017 between Emmis Publishing, L.P., an Indiana limited partnership (&#8220;Emmis&#8221;), Orange Coast Kommunications, Inc., a Delaware corporation (&#8220;OCK&#8221;) and Los Angeles Magazine Holding Company, Inc., an Indiana corporation (&#8220;LACo&#8221;), jointly and severally (Emmis, OCK and LACo are sometimes hereafter collectively the &#8220;Seller&#8221;) and the buyer set forth on the signature page hereto (&#8220;Buyer&#8221;).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Recitals</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">A.&#160;&#160;&#160;&#160;Seller is engaged in the business of publishing the magazine(s) described on </font><font style="font-family:inherit;font-size:12pt;font-style:italic;">Schedule 1.1(a)</font><font style="font-family:inherit;font-size:12pt;">&#32;attached hereto (such magazine(s)), each a &#8220;Publication&#8221; and, collectively, the &#8220;Publications&#8221; and such business, the &#8220;Business&#8221;).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">B.&#160;&#160;&#160;&#160;Pursuant to the terms and subject to the conditions set forth in this Agreement, Seller desires to sell to Buyer, and Buyer desires to purchase from Seller, the Publishing Assets (defined below).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Agreement</font></div><div style="line-height:120%;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">NOW, THEREFORE, taking the foregoing into account, and in consideration of the mutual covenants and agreements set forth herein, the parties, intending to be legally bound, hereby agree as follows:</font></div><div style="line-height:120%;padding-top:16px;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">ARTICLE 1:&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">PURCHASE OF ASSETS</font></div><div style="line-height:120%;padding-top:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">1.1.&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;text-decoration:underline;">Publishing Assets</font><font style="font-family:inherit;font-size:12pt;">. On the terms and subject to the conditions hereof, at Closing (defined below), except as set forth in Section 1.2, Seller shall sell, assign, transfer, convey and deliver to Buyer, and Buyer shall purchase and acquire from Seller, all right, title and interest of Seller in and to all assets and properties of Seller that are used or held for use solely in the operation of the Business (the &#8220;Publishing Assets&#8221;), including the following:</font></div><div style="line-height:120%;padding-top:16px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160; all of Seller&#8217;s rights in and to the magazine(s) described on </font><font style="font-family:inherit;font-size:12pt;font-style:italic;">Schedule 1.1(a)</font><font style="font-family:inherit;font-size:12pt;">, all contracts and orders for advertising in the Publications, all back and current issues thereof and any other inventories, all subscriptions, orders, requests for subscriptions for the Publications, all subscription, distribution, circulation, delivery and mailing lists for the Publications;</font></div><div style="line-height:120%;padding-top:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(b)&#160;&#160;&#160;&#160;all of Seller&#8217;s equipment, vehicles, furniture, fixtures, and other tangible personal property that are used or held for use solely in the operation of the Business, including without limitation those listed on </font><font style="font-family:inherit;font-size:12pt;font-style:italic;">Schedule 1.1(b)</font><font style="font-family:inherit;font-size:12pt;">, except for any retirements or dispositions thereof made between the date hereof and Closing in the ordinary course of business (the &#8220;Tangible Personal Property&#8221;);</font></div><div style="line-height:120%;padding-top:16px;text-align:left;text-indent:96px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(c)&#160;&#160;&#160;&#160;an assignment of Seller&#8217;s leasehold interest in the leases listed on </font><font style="font-family:inherit;font-size:12pt;font-style:italic;">Schedu