SEC Contract Filing

Filing Date: 2020-01-13

Document Content:
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<TYPE>EX-10.1
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<FILENAME>d868935dex101.htm
<DESCRIPTION>EX-10.1
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B><I>EXECUTION VERSION </I></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ASSET PURCHASE </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>AGREEMENT </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>FOR THE AKLAQ
AND KUUKPIK SURVEYS </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>BY AND AMONG </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SAE<SMALL>XPLORATION</SMALL>, I<SMALL>NC</SMALL>., </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ALASKAN S<SMALL>EISMIC</SMALL> V<SMALL>ENTURES</SMALL>, LLC </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>AND </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><FONT
STYLE="white-space:nowrap">TGS-NOPEC</FONT> G<SMALL>EOPHYSICAL</SMALL> C<SMALL>OMPANY</SMALL> ASA </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>January&nbsp;9, 2020 </B></P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>ASSET PURCHASE AGREEMENT </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This ASSET PURCHASE AGREEMENT FOR THE AKLAQ AND KUUKPIK SURVEYS, dated as of January&nbsp;9,&nbsp;2020, is by and among SAExploration, Inc., a
Delaware corporation with its address at 1160 Dairy Ashford Road, Suite 160, Houston, Texas 77079 (&#147;<U>SAE</U>&#148;), ALASKAN Seismic Ventures, LLC, an Alaskan limited liability company with its address at P. O. Box 876489, Wasilla, Alaska
99687 (&#147;<U>ASV</U>&#148; and together with SAE, each, a &#147;<U>Seller</U>&#148; and collectively, the &#147;<U>Sellers</U>&#148;), and <FONT STYLE="white-space:nowrap">TGS-NOPEC</FONT> Geophysical Company ASA, a public limited company
registered in Norway with its address at 4 Lensmannslia, <FONT STYLE="white-space:nowrap">N-1386,</FONT> Asker, Norway (&#147;<U>Purchaser</U>&#148;). </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>RECITALS: </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS,
Sellers collectively own the Acquired Assets (as hereinafter defined); and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, Sellers desire to sell to Purchaser, and Purchaser
desires to acquire from Sellers, the Acquired Assets in exchange for the Purchase Price (as hereinafter defined), subject to the terms and conditions set forth in this Agreement; and </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, Sellers desire to grant to Purchaser, and Purchaser desires to obtain from Sellers, a right of first refusal, exercisable during the
period from and after the date hereof until the date that is four years following the date hereof, to purchase from ASV or SAE, as applicable, (the &#147;<U>ROFR</U>&#148;) the surveys listed on <U>Schedule A</U> (together with all rights and
benefits associated with such surveys, including any Permits (as hereinafter defined) related thereto, and any rights pursuant to contractual arrangements associated with any prefunding thereof, including all rights to funds received or receivable
thereunder, the &#147;<U>ROFR Assets</U>&#148;); and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">WHEREAS, substantially simultaneously with the execution and delivery of this
Agreement, SAE and Purchaser have executed and delivered the Asset Purchase Agreement for the CRD Surveys (the &#147;<U>CRD Purchase Agreement</U>&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">NOW, THEREFORE, in consideration of the premises and the mutual promises herein made, and in consideration of the representations, warranties,
and covenants herein contained, the Parties agree as follows: </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>1.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>INTERPRETATION </B></P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>1.1</B></TD>
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