Opinion ID: 4546366
Heading Depth: 3
Heading Rank: 3

Heading: The APA Parties and Affiliates

Text: The parties to the APA were defined as the Selling Entities, the Sellers, the Purchaser, and the Parent. The Selling Entities were TelJet; Vermont Fiberlink, LLC; and TelJet, Inc. The Sellers were Kelly and three individuals, Scott Pidgeon, Kenneth Pidgeon, and Alan Pidgeon, who were TelJet shareholders and owners of Vermont Fiberlink, LLC. The APA originally defined Purchaser as TJL Acquisition, a wholly owned subsidiary of TVC. TVC, TelJet, and TelJet Inc. executed an Amendment to the APA, which assigned the rights and obligations of TJL Acquisition to TVC and defined the Purchaser as TVC alone. Kelly, Kaplan, and Kenneth Pidgeon signed this agreement. The APA defined the Parent as Tech Valley. The APA defined Affiliates using the definition in Rule 405 of the Securities Act of 1933, as amended: that is, a person that directly, or indirectly through one or more intermediaries, controls or is controlled by, or is under common control with [a party to the APA]. 17 C.F.R. § 230.405. Rule 405 further defines control as the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a person, whether through the ownership of voting securities, by contract, or otherwise. Id. - 5 -