AGREEMENT AND PLAN OF MERGERAgreement and Plan of Merger |
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You are currently viewing: This Agreement and Plan of Merger involves
AMERICA FIRST APARTMENT INVESTORS INC | AMERICA FIRST APARTMENT ADVISORY CORPORATION | THE BURLINGTON CAPITAL GROUP LLC. RealDealDocs™ contains millions of easily searchable legal documents and clauses from top law firms. Search for free - click here. |
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Search Agreement and Plan of Merger by:
AGREEMENT
AND PLAN OF MERGER
among
AMERICA
FIRST APARTMENT INVESTORS, INC.,
AMERICA
FIRST APARTMENT ADVISORY CORPORATION
and
THE
BURLINGTON CAPITAL GROUP LLC
Dated
as of December 30, 2005
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ARTICLE
ITHE MERGER |
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1 |
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Section 1.01. |
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The Merger |
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1 |
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Section 1.02. |
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Closing |
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2 |
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Section 1.03. |
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Effective Time |
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2 |
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Section 1.04. |
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Effects of the Merger |
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2 |
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Section 1.05. |
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Articles of Incorporation
and Bylaws of the Surviving Corporation |
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2 |
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Section 1.06. |
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Directors |
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2 |
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Section 1.07. |
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Officers |
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2 |
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ARTICLE IIEXCHANGE OF
SHARES FOR MERGER CONSIDERATION |
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3 |
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Section 2.01. |
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Effect on Common Stock of
the Company |
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3 |
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Section 2.02. |
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Exchange of Company Common
Stock for Merger Consideration |
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3 |
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Section 2.03. |
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Further Assurances |
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4 |
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ARTICLE IIIREPRESENTATIONS
AND WARRANTIES OF THE COMPANY |
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4 |
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Section 3.01. |
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Organization and
Qualification |
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5 |
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Section 3.02. |
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Assumed or Fictitious Names |
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5 |
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Section 3.03. |
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Capital Stock |
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5 |
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Section 3.04. |
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Subsidiaries |
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6 |
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Section 3.05. |
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Corporate Authority
Relative to This Agreement; No Violation |
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6 |
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Section 3.06. |
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Financial Statements |
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7 |
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Section 3.07. |
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Absence of Certain Changes
or Events |
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7 |
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Section 3.08. |
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Operation of Business |
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7 |
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Section 3.09. |
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No Violation of Law; Lawful
Operations |
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8 |
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Section 3.10. |
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Books and Records |
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8 |
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Section 3.11. |
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Title to Assets |
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8 |
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Section 3.12. |
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Real Property |
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8 |
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Section 3.13. |
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Tangible Assets |
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8 |
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Section 3.14. |
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Inventories |
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8 |
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Section 3.15. |
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Receivables |
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8 |
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Section 3.16. |
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Contracts |
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9 |
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Section 3.17. |
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Intellectual Property |
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9 |
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Section 3.18. |
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Liabilities |
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10 |
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Section 3.19. |
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Environmental Laws and
Regulations |
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10 |
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Section 3.20. |
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Employees |
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10 |
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Section 3.21. |
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Employee Benefit Plans |
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11 |
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Section 3.22. |
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Litigation and
Investigations |
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12 |
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Section 3.23. |
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Tax Matters |
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13 |
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Section 3.24. |
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Insurance |
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14 |
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Section 3.25. |
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Transactions with Related
Parties |
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14 |
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Section 3.26. |
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Finders or Brokers |
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15 |
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Section 3.27. |
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Powers of Attorney |
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15 |
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Section 3.28. |
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Disclosure |
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15 |
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ARTICLE IVREPRESENTATIONS
AND WARRANTIES REGARDING BURLINGTON |
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Section 4.01. |
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Organization and Qualification |
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15 |
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Section 4.02. |
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Authority Relative to This
Agreement; No Violation |
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15 |
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Section 4.03. |
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Foreign Person |
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16 |
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Section 4.04. |
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No Withholding |
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16 |
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Section 4.05. |
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Company Common Stock |
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16 |
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Section 4.06. |
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Securities Act
Representations |
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17 |
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Section 4.07. |
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Brokers and Finders |
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17 |
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ARTICLE VREPRESENTATIONS
AND WARRANTIES OF APRO |
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Section 5.01. |
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Organization and
Qualification |
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18 |
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Section 5.02. |
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Corporate Authority
Relative to This Agreement; No Violation |
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Section 5.03. |
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Merger Consideration |
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Section 5.04. |
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Disclosure |
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19 |
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Section 5.05. |
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Absence of Certain Changes
or Events |
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ARTICLE
VICOVENANTS OF THE PARTIES |
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19 |
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Section 6.01. |
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General |
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Section 6.02. |
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Further Investigation and
Access to Information |
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20 |
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Section 6.03. |
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Conduct of Business by the
Company |
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20 |
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Section 6.04. |
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Officers and Employees |
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22 |
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ARTICLE
VIIADDITIONAL AGREEMENTS |
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22 |
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Section 7.01. |
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Antitakeover Statute |
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22 |
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Section 7.02. |
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Public Announcements |
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22 |
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Section 7.03. |
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Notices of Certain Events |
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23 |
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Section 7.04. |
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Employee Matters |
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23 |
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Section 7.05. |
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Tax Matters |
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23 |
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Section 7.06. |
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Corporate Name |
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24 |
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Section 7.07. |
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Guaranty of Mezzanine Debt |
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24 |
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Section 7.08. |
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Payments Under Advisory
Agreement |
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24 |
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Section 7.09. |
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Real Estate |
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24 |
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Section 7.10. |
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License of Certain Software |
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24 |
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Section 7.11. |
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Registration Agreement |
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25 |
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Section 7.12. |
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Restrictions on Resale of
Stock Consideration |
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25 |
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Section 7.13. |
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Efforts To Consummate;
Further Assurances |
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25 |
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Section 7.14. |
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Transition Assistance |
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25 |
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ARTICLE
VIIICONDITIONS TO THE MERGER |
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25 |
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Section 8.01. |
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Conditions to the
Obligation of APRO |
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25 |
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Section 8.02. |
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Conditions to the
Obligation of the Company |
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27 |
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ARTICLE
IXTERMINATION |
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29 |
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Section 9.01. |
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Termination or Abandonment |
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29 |
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Section 9.02. |
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Termination Fee and
Expenses |
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29 |
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ARTICLE
XSURVIVAL AND INDEMNIFICATION |
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29 |
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Section 10.01. |
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Survival of
Representations, Warranties, Covenants and Agreements |
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29 |
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Section 10.02. |
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Indemnification |
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30 |
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ARTICLE
XIMISCELLANEOUS |
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32 |
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Section 11.01. |
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Counterparts; Effectiveness |
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32 |
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Section 11.02. |
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Governing Law |
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32 |
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Section 11.03. |
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Jurisdiction |
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32 |
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Section 11.04. |
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Notices |
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32 |
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Section 11.05. |
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Assignment; Binding Effect |
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33 |
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