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EXHIBIT 99.1
DATED 8 February 2005
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HAYTER LIMITED (TO BE RE-NAMED YOST LIMITED)
and
EDITLAND LIMITED (TO BE RE-NAMED HAYTER LIMITED)
and
TORO HAYTER (GUERNSEY) LIMITED
and
THE TORO COMPANY
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AGREEMENT
for the sale and purchase of
the business and undertaking
of Hayter Limited
(to be re-named Yost Limited)
------------------------------
<PAGE>
CONTENTS
CLAUSE PAGE
1.
Interpretation........................................................1
2. Sale and Purchase of
Business.........................................9
3.
Consideration........................................................11
4. No
warranties........................................................13
5.
Completion...........................................................14
6. Post-Completion
Obligations..........................................14
7. Cross
Accounting.....................................................15
8. Responsibility for
Liabilities.......................................15
9. Business
Contracts...................................................15
10. Debts and Tax
Rebates................................................16
11. Transferring
Employees...............................................17
12. Independent
Accountants..............................................17
13.
Liabilities..........................................................18
14.
Announcements........................................................18
15. Value Added
Tax......................................................18
16. Wrong
Pockets........................................................19
17.
Counterparts.........................................................20
18. Further
Assurance....................................................20
19. Variation, Waiver and
Consent........................................20
20. Entire
Agreement.....................................................20
21. Withholding and
Grossing-Up..........................................21
22.
Notices..............................................................21
23.
Costs................................................................22
24. Rights of Third
Parties..............................................22
25. Time of the
Essence..................................................23
26. Continuing
Effect....................................................23
27.
Severability.........................................................23
28.
Assignment...........................................................23
29. Termination of Seller's
obligations..................................24
30.
Guarantee............................................................24
31. Governing Law and Submission to
Jurisdiction.........................24
<PAGE>
DATE: 8 FEBRUARY 2005
PARTIES:
(1) HAYTER LIMITED a company incorporated under the laws of
England and
Wales with registered number 425045 and having its registered
office
and its principal place of business at Spellbrook, Bishops
Stortford,
Hertfordshire CM23 4BU (and which proposes changing its name to
Yost
Limited) (the "SELLER");
(2) EDITLAND LIMITED a company incorporated under the laws of
England and
Wales with registered number 5286686 and having its registered
office
at 100 New Bridge Street, London EC4V 6JA (and which proposes
changing
its name to Hayter Limited) (the "PURCHASER);
(3) TORO HAYTER (GUERNSEY) LIMITED a company incorporated under
the laws
of the States of Guernsey, Channel Islands with registered
number
42797 and having its registered office at PO Box 357, St Peter
Port,
Guernsey, Channel Islands GY1 3XH (the "TRADE MARK PURCHASER"
and,
with the Purchaser, the "PURCHASERS"); and
(4) THE TORO COMPANY a company incorporated under the laws of
Delaware
having its registered address at 8111 Lyndale Avenue South,
Bloomington, MN 55420, United States of America (the
"GUARANTOR")
RECITALS:
(A) The Seller carries on the Business.
(B) The Seller has agreed to sell and the Purchaser has agreed
to purchase
the Business (other than the Hayter Marks and Names) as a
going
concern on the terms set out in this agreement.
(C) The Seller has agreed to sell and the Trade Mark Purchaser
has agreed
to purchase the Hayter Marks and Names on the terms set out in
this
agreement.
(D) The Guarantor is the holding company of the Purchaser and
has become a
party to this agreement for the purpose of entering into the
guarantee
set out in clause 30
IT IS AGREED as follows:
1. INTERPRETATION
1.1 Defined terms
In this agreement, the following words and expressions shall
have the
following meanings:
"ADVANCE RECEIPTS" means all amounts received (whether by
deposit,
pre-payment or otherwise) by or on behalf of the Seller on or
before
the Completion Date so far as the same relate to anything
(including
any service) to be provided by the Purchaser under any of the
Business
Contracts or otherwise in connection with the carrying on of
the
Business in the ordinary course after the Completion Date;
"ACCRUED EMPLOYEE COSTS" means the sum of (pound) 142,202
being
accrued and unpaid wages, salaries, emoluments, PAYE
payments,
employer National Insurance contributions and all other periodic
costs
payable to or for the benefit of the Transferring Employees for
the
period from 1 February 2005 (being the date after date to which
such
payments were last made to the Transferring Employees) to
and
including the Completion Date;
"ASSETS" means the assets to be sold and transferred to the
Purchasers
under this agreement as described in clause 2.1;
<PAGE>
"ASSUMED LIABILITIES" means, for the purposes of Clause 3.2
and
schedule 9, current liabilities relating to the Business of
(pound)
2,899,000 and pension liabilities of (pound) 2,500,000;
"BUSINESS" means such part of the Seller's business comprising
the
Assets as relates to the (i) manufacture and supply of
pedestrian,
tractor, grass trimmer/brush cutter products designed for
consumer
use; (ii) the manufacture and supply of quality grass
cutting
machinery for the local authority and golf markets along with
the
premium sector of consumer, petrol rotary mower market and as
(in each
case) carried on by the Seller at the date of this agreement
under the
brand name 'Hayter' and (iii) the sale of 'Hayter' - branded
parts,
the resale of 'Hayter' - branded tractors manufactured by
Murray, Inc
and the non-exclusive distribution of 'Murray' - branded parts
in
Europe carried on by the Seller at the date of this
agreement;
"BUSINESS CONTRACTS" means the Customer Contracts, the
Distribution
Contracts, the Equipment Contracts, the Intellectual
Property
Contracts and the Supplier Contracts and all other contracts
and
engagements entered into and orders placed or received on or
before
Completion by or on behalf of the Seller in the ordinary course
of the
Business and which at Completion remain (in whole or in part) to
be
performed (including for the avoidance of doubt any such
contracts,
engagements and orders with other members of the Seller's Group
and
other divisions of the Seller to the extent that the same are
for the
supply and/or distribution of products, components and parts
required
to assure the Purchaser of continuity of supply ("ESSENTIAL
SUPPORT
CONTRACTS")) but excluding: (1) contracts with employees, (2)
the
Financing Contracts, (3) save to the extent incurred pursuant
to
Essential Support Contracts, any and all inter-company
indebtedness
incurred to other members of the Seller's Group and other
divisions of
the Seller whether or not the same were incurred in the course
of the
Business and (4) any contracts with members of the Seller's
Group
which are not Essential Support Contracts;
"BUSINESS DAY" means a day (excluding Saturday) on which
banks
generally are open in the City of London for the transaction of
normal
banking business;
"BUSINESS INFORMATION" means all information existing at the
Completion Date and relating to the Business including but not
limited
to details of customers, suppliers, distributors and agents,
sales
targets, sales statistics, market share statistics, market
surveys and
information relating to future business development or
planning,
information relating to discounts, commissions and rebates
received
and/or paid and litigation or legal advice, in whatever form
(including computer disks or tapes) that information may be
recorded
or stored;
"BUSINESS INTELLECTUAL PROPERTY" means all Intellectual Property
owned
and used by the Seller at the Completion Date which is used in,
or has
been developed for use in, or is required or intended for use in
the
Business including but not limited to that listed in schedule
5;
"BUSINESS RECORDS" means all books and records in whatever
form
(including computer disks or tapes) containing or relating to
Business
Information or on which Business Information is recorded or
stored,
including the VAT Records but excluding the Excluded Business
Records;
"CA85" means the Companies Act 1985;
"CHAPS" means the clearing houses automated payment system or
any
other method of electronic transfer for same-day value;
"COMPLETION" means completion of the sale and purchase of the
Business
comprising the Assets in accordance with clause 5;
"COMPLETION DATE" means the date of this agreement;
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<PAGE>
"CONFIDENTIAL INFORMATION" means Know How, trade secrets and
other
information of a confidential nature (including, without
limitation,
all proprietary technical, industrial and commercial information
and
techniques in whatever form (including computer disks or tapes)
that
information may be recorded or stored);
"CONSIDERATION" means the sum of (pound) 18,770,000, as adjusted
in
accordance with this agreement;
"CURRENT ASSETS" means, to the extent purchased under clauses
2.1 and
2.2, stock, the Debts, the Prepayments and other assets (but
excluding
(i) cash at bank and in hand, negotiable money orders, cheques
and the
benefit of any tax (including Value Added Tax refunds) and
(ii)
packaging materials and advertising and promotional materials)
in each
case as ascertained or determined in accordance with
Relevant
Accounting Standards;
"CURRENT LIABILITIES" means all amounts falling due for payment
by the
Purchaser under this agreement in connection with the Business
within
one year of Completion, the Advance Receipts and any provisions
for
such liabilities and charges which reasonably may fall due for
payment
within 12 months of Completion in each case as ascertained
or
determined in accordance with Relevant Accounting Standards;
"CUSTOMER CONTRACTS" means all contracts and arrangements
entered into
and orders received on or before the Completion Date by or on
behalf
of the Seller with customers for the sale or supply of goods
or
services by the Seller in connection with the Business which
at
Completion remain to be performed in whole or in part including
but
not limited to those listed in part 1 of schedule 8;
"DEBTS" means all book and other debts owing to the Seller and
other
rights to payment arising from the operation of the Business on
or
before the Completion Date (each such debt being a "receivable"
and
all such debts together being "receivables") (other than
receivables
(i) owing to or arising in favour of the Seller from any member
of the
Seller's Group or (ii) receivables relating to or arising from
the
Excluded Assets, Tax and Financing Contracts) whether or not
then
invoiced and whether or not then due and payable and any
interest
payable on such receivables save to the extent that funds
representing
the whole or any part of any receivable have been credited to
the
Sellers receivables current account (number: 30344788) at
Barclays
Bank plc, Sort Code 20-00-00 at any time on or before 23.59 on
the
Completion Date (which funds shall be treated as Excluded
Assets);
"DEPOSIT" means the sum of US$2,500,000 deposited by the
Purchaser
with the Seller's Solicitors on 24 January 2005;
"DISTRIBUTION CONTRACTS" means all agency, distributorship,
franchise
and other like agreements entered into by or on behalf of the
Seller
in connection with the Business which at Completion remain to
be
performed (in whole or in part) including but not limited to
those
listed in part 2 of schedule 8;
"ENCUMBRANCE" means any mortgage, charge, pledge, lien,
restriction,
assignment, hypothecation, security interest, title retention or
any
other agreement or arrangement the effect of which is the
creation of
security, or any other interest, equity or other right of any
person
(including any right to acquire, option, right of first refusal
or
right of pre-emption), or any agreement or arrangement to create
any
of the same, other than in any such case retention of title
claims
arising in the ordinary course of business from suppliers of
parts and
components;
"EQUIPMENT CONTRACTS" means all contracts and arrangements
entered
into and orders placed or received on or before the Completion
Date by
or on behalf of the Seller in relation to the leasing, lease
purchase,
hire or hire purchase, credit sale, conditional sale or sale
by
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<PAGE>
instalments of goods or equipment in connection with the
Business
which on Completion remain to be performed in whole or in
part
including but not limited to those listed in part 3 of schedule
8;
"ESCROW ACCOUNT" means an interest bearing deposit account to
be
opened with The Royal Bank of Scotland plc in the joint names of
the
Purchaser's Solicitors and the Seller's Solicitors and to be
administered in accordance with the escrow instructions letter
in the
agreed terms (the "ESCROW INSTRUCTIONS LETTER");
"ESCROW AMOUNT" means the sum of (pound) 800,000 (eight
hundred
thousand pounds), and which shall be held in trust for the
Seller and
the Purchaser and which shall be applied in accordance with
clause
3.4;
"EXCLUDED ASSETS" means the assets referred to in clause 2.4
which are
excluded from the sale pursuant to this agreement;
"EXCLUDED CLAIMS" means the benefit of any insurance claim made
by the
Seller prior to the Completion Date which is then outstanding
in
respect of the loss or destruction of or damage to any of the
Assets
where such Asset has prior to the Completion Date been restored
in all
material respects or replaced at the Seller's expense;
"EXCLUDED BUSINESS RECORDS" means the Seller's statutory books
and
accounting records, and all other records which do not relate in
any
way to the Business (including those relating to Tax) but
not
including the VAT Records;
"EXCLUDED LIABILITIES" means, save as expressly provided in
this
agreement, all the liabilities or obligations relating to the
Business
and outstanding or accrued or referable to the period on or
before the
Completion Date or arising by virtue of the sale and purchase
recorded
by this agreement, including but not limited to any and all
liabilities in respect of National Insurance, PAYE, VAT or other
Tax
attributable to the Seller in respect of the Business or the
Transferring Employees (except those payments due to
Transferring
Employees as provided for in clause 11.3) in respect of the
period
ending on Completion and all bank or other overdrafts and loans
owing
by the Seller whether due in respect of the Financing Contracts
or
otherwise;
"FINANCIAL YEAR" shall be construed in accordance with s223
CA85;
"FINANCING CONTRACTS" means (i) all obligations of the Seller
to
General Electric Capital Corporation or to any person for which
it is
the parent undertaking and (ii) the bank lending contracts,
security
and finance leases listed in schedule 3;
"FOREIGN AFFILIATE SETTLEMENT AGREEMENT" means the
settlement
agreement dated 8 February 2005 between Summersong Investment
Inc.,
Murray Europe Limited, Hayter Limited, Murray Holdings Germany
GmbH,
Murray Administration Germany GmbH, Murray Germany GmbH &
Co. KG,
General Electric Capital Corporation, PBGC, Murray, Inc. and
the
Official committee of Unsecured Creditors of Murray, Inc.;
"GOODWILL" means the goodwill of the Seller in relation to
the
Business including the exclusive right for the Purchasers or
either of
them to represent themselves as carrying on the Business in
succession
to the Seller;
"HAYTER MARKS AND NAMES" means the Trade Mark referred to in
part 1 of
schedule 5 the domain names referred to in part 2 of schedule 5
and
all right and interest of the Seller in the "HAYTER" name and
such
other rights which the Seller has in relation to trade marks,
trade
and business names, logos and get up (including any and all
goodwill
associated with or attached to any of the same and owned by the
Seller
and all rights under the law of passing off
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<PAGE>
and laws relating to unfair competition) or other domain names
whether
registered, unregistered or registrable (including, where
applicable,
all applications for registration) and the right to sue for
damages
for past and current infringement in respect of any of the
same;
"HAYTER PATENTS" means the patents referred to in part 3 of
schedule
5;
"INDEPENDENT ACCOUNTANT" means as defined in clause 12;
"INITIAL CONSIDERATION" means the sum of (pound) 17,827,798
(being the
Consideration less the Accrued Employee Costs, less the
Escrow
Amount);
"INTELLECTUAL PROPERTY" means (i) the Hayter Marks and Names,
(ii) the
Hayter Patents and (iii) such other rights which the Seller has
in and
in relation to Confidential Information, patents, inventions
(whether
or not patentable), registered designs, design rights,
copyrights
(including, without limitation, rights in software)
neighbouring
rights, database rights, semi-conductor topography rights, all
rights
of confidence (including in the Know-How) and all rights or
forms of
protection having an equivalent or similar nature or effect
anywhere
in the world, whether registered, unregistered or
registrable
(including, where applicable, all applications for registration)
and
the right to sue for damages for past and current infringement
in
respect of any of the same;
"INTELLECTUAL PROPERTY CONTRACTS" means all contracts,
licences,
authorisations and permissions relating to the use, enjoyment
and/or
exploitation by (1) the Seller of any Intellectual Property
or
Business Information used in connection with the Business as
carried
on at the Completion Date and (2) any third party of any
Business
Intellectual Property or Business Information, including but
not
limited to those listed in part 4 of schedule 8;
"KNOW HOW" means all unpatented, secret, substantial and
identified
know-how, expertise, technical or other information
developed,
acquired and owned by the Seller in relation to the Business
including, without limitation, all related ideas, concepts,
methods,
inventions, discoveries, data, formulae, processes, methods,
techniques and specifications;
"LAST ACCOUNTS" means the audited financial statements
(including
balance sheet and profit and loss account) of the Seller
relating to
the Business as at 2 October 2004 in respect of the Financial
Year
ended on such date together with all notes, reports (including
the
auditors' report) and statements required by law or Relevant
Accounting Standards to be included in or annexed to them;
"LOSSES" includes, in respect of any matter, event or
circumstance,
all demands, claims, actions, proceedings, damages, payments,
fines,
penalties, losses, costs (including legal costs), expenses
(including
taxation), disbursements or other liabilities in any case of
any
nature whatsoever;
"PBGC" means the Pensions Benefit Guarantee Corporation;
"PENSIONS DEED" means deed in the agreed form and of even
date
herewith between (1) the Trustees of the 'The Hayters
Retirement
Benefits Plan', (2) the Seller and (3) the Purchaser whereby
the
Purchaser is substituted as principal employer of the plan;
"PENSIONS MOU" means the memorandum of understanding in the
agreed
form and of even date herewith between (1) the Trustees of the
'The
Hayters Retirement Benefits Plan', (2) the Seller and (3)
the
Purchaser;
"PLANT AND EQUIPMENT" means all plant, machinery, motor
vehicles,
office, warehouse and factory furniture, fixtures and fittings
and
equipment (including computers) wherever situated owned by the
Seller
and used in or in connection with the Business including but
not
limited
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<PAGE>
to those listed in schedule 6 but excluding for these purposes
any
such items which are the subject of Equipment Contracts;
"PREPAYMENTS" means all amounts paid (whether by deposit,
prepayment
or otherwise) on or before the Completion Date by or on behalf
of the
Seller so far as the same relate to anything (including any
service)
to be provided to the Purchaser under any of the Business
Contracts or
otherwise in connection with the carrying on of the Business in
the
ordinary course after the Completion Date (but excluding, for
the
avoidance of doubt, liabilities in respect of Tax);
"PROCEEDINGS" means any proceedings, suit or action arising out
of or
in connection with this agreement;
"PROPERTIES" means the freehold properties short particulars of
which
are set out in schedule 4;
"PURCHASER'S GROUP" means the group of companies comprising
the
Purchaser, any holding company from time to time of the
Purchaser and
any subsidiary of the Purchaser or of any such holding company
and
"MEMBER OF THE PURCHASER'S GROUP" shall be construed
accordingly;
"PURCHASERS' SOLICITORS" means Baker & McKenzie of 100 New
Bridge
Street, London EC4V 6JA;
"RELEVANT ACCOUNTING STANDARDS" means, in relation to (i) the
Last
Accounts, any of the following in force on 2 October 2004, and
means
in relation to (ii) the determination of the Current Assets,
the
Current Liabilities and the Working Capital, any of the
following in
force on the Completion Date, namely any applicable Statement
of
Standard Accounting Practice, Financial Reporting Standard,
Urgent
Issues Task Force Abstract or Statement of Recommended Practice
issued
by the UK Accounting Standards Board (or any successor body) or
any
committee of it or body recognised by it and to the extent that
the
Seller (in relation to the Business) is not required to comply
with
any of the foregoing, the relevant accounting standards
applicable to
the Seller (in relation to the Business);
"SALES DOCUMENTATION" means all sales publications, advertising
and
promotional materials, printed terms and conditions of sale or
supply,
business forms, instructional material and other technical and
sales
materials which are owned by the Seller on the Completion Date
and
relate to the Business;
"SELLER'S GROUP" means the group of companies comprising the
Seller,
any holding company from time to time of the Seller and any
subsidiary
of the Seller or any such holding company (including but not
limited
to the Seller and Murray, Inc.) and "MEMBER OF THE SELLER'S
GROUP"
shall be construed accordingly;
"SELLER'S SOLICITORS" means Wedlake Bell of 52 Bedford Row,
London
WC1R 4LR;
"SERVICE DOCUMENT" means a document relating to or in connection
with
any Proceedings;
"STOCK" means all raw materials, supplies, work in progress,
parts and
components, finished goods, packaging materials and advertising
and
promotional materials held, used or owned by the Seller in
connection
with the Business at the Completion Date;
"SUPPLIER CONTRACTS" means all contracts and arrangements
entered into
and orders placed with suppliers on or before the Completion
Date by
or on behalf of the Seller for the sale or supply of goods or
services
to the Seller in connection with the Business which at
Completion
remain to be performed in whole or in part including but not
limited
to those listed in part 5 of schedule 8 but excluding all and
any
contracts, arrangements or orders for the supply of legal,
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tax, accounting, valuation, appraisal and/or corporate advisory
and
other professional services;
"TARGET WORKING CAPITAL" means (pound) 10,903,000 (ten million
nine
hundred and three thousand pounds);
"TAX" includes (without limitation) all taxes (including value
added
tax), duties, levies, imposts, withholdings, social security
contributions, deductions or amounts in the nature of
taxation,
whenever and by whatever authority imposed and whether of the
United
Kingdom or elsewhere, irrespective of the person against or to
which
any such taxes, duties, levies, imposts, withholdings, social
security
contributions, deductions or amounts in the nature thereof
are
directly or primarily chargeable, together with all interest,
fines,
penalties and surcharges imposed pursuant to any legislation
relating
to taxation and which are incidental or relating thereto;
"TAXES ACT" means the Income and Corporation Taxes Act 1988;
"TAX AUTHORITY" means any person, body, authority or institution
which
seeks to impose, assess, enforce, administer or collect any
Tax
whether in the United Kingdom or elsewhere;
"THIRD PARTY RIGHTS" means the benefit of all rights and claims
(other
than claims relating to Tax) of the Seller arising on or before
the
Completion Date out of or in connection with the Business,
including
but not limited to:
(1) all claims against, or rights to make any claims against,
any
third party in respect of any goods or services sold or
supplied
to the Seller in connection with the Business on or before
the
Completion Date where the goods or the subject matter of the
services form part of the Business;
(2) all claims against, or rights to make any claims
against,
insurers or other third parties in respect of loss of or
damage
or injury caused to the Business to the extent that such
loss,
damage or injury has not been made good by and at the cost of
the
Seller on or before the Completion Date;
(3) all claims made by the Seller for a loan, grant or other aid
in
respect of any of the Assets;
(4) all rights of the Seller in respect of goods supplied by
the
Seller in the course of the Business on terms as to retention
of
title and to which the Seller retains title at the
Completion
Date; and
(5) all the Seller's rights (to the extent that they are
assignable)
under any agreement under which the Seller acquired any of
the
Assets;
"TRANSACTION DOCUMENTS" means this agreement, the Pensions Deed
and
the Pensions MOU;
"TRANSFERRING EMPLOYEES" means those employees of the Seller who
are
employed in the Business and whose employment is to be
transferred to
the Purchaser, a list of whom appears in schedule 7;
"VAT" means value added tax as defined in VATA;
"VATA" means the Value Added Tax Act 1994;
"VAT RECORDS" means the records required to be kept for VAT
purposes
by paragraph 6 of Schedule 11 to VATA in relation to the
Business; and
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"WORKING CAPITAL" means the total value of the Current Assets
less the
total value of the Current Liabilities as at the Completion
Date
agreed or determined in accordance with clause 3.
1.2 Statutory provisions
All references to statutes, statutory provisions, enactments,
EU
Directives or EU Regulations shall include references to any
consolidation, re-enactment, modification or replacement of the
same,
any statute, statutory provision, enactment, EU Directive or
EU
Regulation of which it is a consolidation, re-enactment,
modification
or replacement and any subordinate legislation in force under
any of
the same from time to time except to the extent that any
consolidation, re-enactment, modification or replacement enacted
after
the date of this agreement would extend or increase the
liability of
either party to the other under this agreement.
1.3 Holding company and subsidiary
A company or other entity shall be a "HOLDING COMPANY" for
the
purposes of this agreement if it falls within either the
meaning
attributed to that term in ss736 and 736A CA85 or the
meaning
attributed to the term "PARENT UNDERTAKING" in s258 CA85, and
a
company or other entity shall be a "SUBSIDIARY" for the purposes
of
this agreement if it falls within either the meaning attributed
to
that term in ss736 and 736A CA85 or the meaning attributed to
the term
"SUBSIDIARY UNDERTAKING" in s258 CA85, and the terms
"SUBSIDIARIES"
and "HOLDING COMPANIES" are to be construed accordingly.
1.4 Agreed form
Any reference to a document in the "AGREED FORM" is to the form
of the
relevant document in the terms agreed between the Seller and
the
Purchaser prior to the execution of this agreement and signed
or
initialled for identification purposes only by or on behalf of
the
Seller and the Purchaser (in each case with such amendments as
may be
agreed by or on behalf of the Seller and the Purchaser).
1.5 Recitals, schedules, etc.
References to this agreement include the recitals and schedules
which
form part of this agreement for all purposes. References in
this
agreement to the parties, the recitals, schedules and clauses
are
references respectively to the parties and their legal
personal
representatives, successors and permitted assigns, the recitals
and
schedules to and clauses of this agreement.
1.6 Meaning of references
Save where specifically required or indicated otherwise:
(a) words importing one gender shall be treated as importing
any
gender, words importing individuals shall be treated as
importing
corporations and vice versa, words importing the singular
shall
be treated as importing the plural and vice versa, and words
importing the whole shall be treated as including a reference
to
any part thereof;
(b) references to a person shall include any individual, firm,
body
corporate, unincorporated association, government, state or
agency of state, association, joint venture or partnership,
in
each case whether or not having a separate legal
personality.
References to a company shall be construed so as to include
any
company, corporation or other body corporate wherever and
however
incorporated or established;
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(c) references to the word "INCLUDE" or "INCLUDING" (or any
similar
term) are not to be construed as implying any limitation and
general words introduced by the word "OTHER" (or any similar
term) shall not be given a restrictive meaning by reason of
the
fact that they are preceded by words indicating a particular
class of acts, matters or things;
(d) references to any English statutory provision or legal term
for
any action, remedy, method of judicial proceeding, legal
document, legal status, court, official or other legal
concept,
state of affairs or thing shall in respect of any
jurisdiction
other than England be deemed to include that which most
nearly
approximates in that jurisdiction to the English statutory
provision or legal term or other legal concept, state of
affairs
or thing;
(e) any reference to "WRITING" or "WRITTEN" includes any method
of
reproducing words or text in a legible and non-transitory
form
but, for the avoidance of doubt, shall not include e-mail;
(f) references to "INDEMNIFY" and to "INDEMNIFYING" any
person
against any Losses by reference to any matter, event or
circumstance includes indemnifying and keeping that person
indemnified against all Losses from time to time made,
suffered
or incurred as a direct or indirect consequence of or which
would
not have arisen but for that matter, event or circumstance;
(g) references to "STERLING" or "(POUND)" or "POUNDS" are to
the
lawful currency of the United Kingdom as at the date of this
agreement; references to "DOLLAR" or "$" are to the lawful
curre
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