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As Of Filer Filing For·On·As Docs:Size Issuer Agent 5/01/13 Pan Global, Corp. 8-K:1,2,3,5 4/25/13 6:667K SEC Compliance, Inc./FA |
Document/Exhibit Description Pages Size
1: 8-K Current Report HTML 34K
2: EX-2.1 Plan of Acquisition, Reorganization, Arrangement, HTML 57K
Liquidation or Succession
3: EX-3.1 Articles of Incorporation/Organization or By-Laws HTML 5K
4: EX-3.2 Articles of Incorporation/Organization or By-Laws HTML 39K
5: EX-10.1 Material Contract HTML 17K
6: EX-10.2 Material Contract HTML 31K
| EXHIBIT 2.1 |
STOCK EXCHANGE AGREEMENT
THIS STOCK EXCHANGE AGREEMENT together with all the Exhibits, Schedules and other attachments (the “Agreement”) is entered into on this 25th day of April 2013 by and between SAVVY BUSINESS SUPPORT, INC., a Nevada corporation (“Savvy”), and PAN ASIA INFRATECH CORP., a Nevada corporation (the “PrivateCo”).
PRELIMINARY STATEMENTS
WHEREAS, the Board of Directors of PrivateCo and Savvy deem it advisable and generally in their best interests that Savvy acquire all of the issued and outstanding capital stock of PrivateCo;
WHEREAS, Savvy shall be the acquiring corporation and it has authorized capital stock consisting of 550,000,000 shares of common stock with $0.0001 par value per share (the “Common Stock”), and 25,000,000 shares of preferred stock with a par value of $0.0001 (the “Preferred Stock,” and together with the Common Stock, the “Savvy Stock”);
WHEREAS, Private Co has authorized capital stock consisting of 75,000 shares (“Shares”) of a single class each with a par value of US$0.00 per share, of which 15,000 Shares are now issued and outstanding;
NOW, THEREFORE, in consideration of the premises and of the mutual agreement, covenants, and provisions hereinafter set forth, the parties hereto agree that 90,000,000 of Savvy’s common stock shall be exchanged for all of the outstanding shares of PrivateCo’s common stock, effective the Effective Date (as hereinafter defined) and hereby agree upon and prescribe the terms and conditions of such share exchange and the manner of carrying the same into effect, as follows:
ARTICLE I
ACQUISITION
1.01 Acquisition. As promptly as practicable following the satisfaction or waiver of the conditions to the Parties’ respective obligations hereunder, at the Effective Time (as defined in Section 1.03) and pursuant to the terms hereof, PrivateCo shareholders shall transfer all their PrivateCo Shares to Savvy in accordance with Section 1.03 below. In consideration for such transfer, PrivateCo shall receive in exchange 90,000,000 shares of Savvy Common Stock with a valuation of $0.0001 per share (the “Exchange Transaction”) which shall be transferred by Savvy to PrivateCo in accordance with the schedule set forth in Section 1.03 below. Such shares of Common Stock shall have the terms and characteristics set forth in Savvy’s Articles of Incorporation (“Savvy Shares”). The Savvy Shares shall be distributed in accordance with the terms set forth in Section 1.03 below.
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1.02 Restrictions on Sales of PrivateCo Shares. Upon issuance of the Savvy Shares to PrivateCo, in accordance with the terms and conditions hereof, the Savvy Shares shall be fully paid, validly issued, and non-assessable, and not subject to any preemptive rights or any liens, claims, equities, encumbrances, or security interests or any restrictions on the transfer thereof other than those set forth in this Agreement or imposed by law. At the Effective Time, the Savvy Shares shall be “restricted securities” and not be subject to an effective Registration Statement under the Securities Act of 1933, as amended (the “Securities Act”),and may be sold or transferred only pursuant to an effective Registration Statement or an exemption from registration, and in compliance with all applicable state securities laws. It is acknowledged that the certificates representing the Savvy Shares will bear a restrictive legend similar to the following:
THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE SOLD OR OTHERWISE TRANSFERRED UNLESS IN COMPLIANCE WITH THE REGISTRATION PROVISIONS OF SUCH ACT, UNLESS AN EXEMPTION FROM SUCH REGISTRATION PROVISIONS HAS BEEN ESTABLISHED OR UNLESS SOLD PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933.
1.03 Closing; Surrender of Certificates.
The consummation of the Exchange Transaction and the transactions contemplated hereby (the “Closing”) shall occur on or before at 1:00 p.m. (Eastern Standard Time) on April 26, 2013 (the “Closing Date”). . The Closing may be rescheduled by agreement of the Parties. The date of the Closing shall be the “Effective Time” of the Exchange Transaction.
At the Closing, PrivateCo shall have all its shareholders’ PrivateCo share certificates transferred to Savvy and Savvy shall transfer certificates for Savvy Shares in the amount and description of 90,000,000 of Savvy’s common stock to PrivateCo’s shareholders on a prorated basis in accordance with Section 1.01 above. At the Closing, PrivateCo shall deliver to Savvy such other documents as called for herein; and at the Closing, Savvy shall deliver to PrivateCo such other documents as called for herein.
1.04 Closing; Additional Actions.
At the Closing or as soon as practicable thereafter, Savvy shall have caused the following to be completed:
(a) Amendment of Articles of Incorporation. The Articles of Incorporation of Savvy shall be amended with the Secretary of State of Nevada to change the name of Savvy to “Pan Global, Corp.”
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1.05 Additional Actions After Effective Time. If, at any time after the Effective Time, Savvy shall consider or be advised that any further assignments or assurances in law or any other acts are necessary or desirable to vest, perfect or confirm, of record or otherwise, in Savvy title to and possession of any property or right of PrivateCo acquired or to be acquired by reason of, or as a result of, the Exchange Transaction, or otherwise to carry out the purposes of this Agreement, PrivateCo and its proper officers and directors, solely in their official capacity as officers and directors, shall execute any and all documents necessary to vest, perfect or confirm title to and possession of such property or rights in Savvy or PrivateCo, as appropriate, and otherwise to carry out the purposes of this Agreement.
1.06 Effect of Share Exchange.
(a) Tax Treatment. This Agreement contemplates a tax-free exchange of all the Shares of PrivateCo and Savvy pursuant to §351 of the Internal Revenue Code. Following the “Closing” of the Exchange Transaction, it is contemplated that PrivateCo will remain in existence as a wholly-owned subsidiary of Savvy.
(b) General. As aforesaid, the share exchange shall become effective on the Closing Date.
(c) Articles of Incorporation and Bylaws. The Articles of Incorporation and Bylaws of both PrivateCo and Savvy, as in effect on the Closing Date shall continue to remain in full force and effect (without interruption) on and after the Closing Date.
(d) Directors and Officers. On the Effective Date the Boards of Directors and the Officers of PrivateCo and Savvy shall be as follows:
| Savvy Officers & Directors | PrivateCo Officers and Directors | |
| Bharat Vasandani | Bharat Vasandani |
ARTICLE II
REPRESENTATIONS AND WARRANTIES OF PRIVATECO
In order to induce Savvy to enter into this Agreement, PrivateCo represents and warrants that the statements contained in this Article II are true and complete as of the date of this Agreement and will be true and complete as of the Effective Time (as though made then and through the Effective Time).
2.01 Organization and Standing. PrivateCo is a corporation duly organized, existing and in good standing under the laws of the Nevada with full power and authority (corporate and other) to own, lease, use and operate its properties and to conduct its business as it is currently conducted. PrivateCo is duly qualified to do business and is in good standing in each jurisdiction where its activities would require qualification, except where the failure to qualify would not have a material adverse effect upon PrivateCo’s business or financial condition, or on the ability of the Parties to consummate the transactions contemplated by this Agreement (“PrivateCo Material Adverse Effect”). PrivateCo is not in default of any provision of its Certificate of Incorporation, Bylaws or other agreements relating to corporate governance or organization.
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2.02 Corporate Power and Authority. PrivateCo has all requisite corporate power and authority to enter into and perform this Agreement. PrivateCo has duly executed and delivered this Agreement and this Agreement is a legal, valid and binding obligation of PrivateCo, enforceable in accordance with its terms. PrivateCo represents and warrants that this Agreement is valid and binding on PrivateCo according to its terms and shall be binding on its successors in interest or assigns.
2.03 Conflicts; Consents and Approvals. Except as set forth in Schedule 2.03, PrivateCo’s execution or performance of this Agreement will not:
(a) result in a breach or default or entitle any third party to terminate or accelerate any of the terms, conditions or provisions of the Certificates of Incorporation or Bylaws of PrivateCo or any agreement or obligation of PrivateCo; or
(b) violate any order, writ, injunction, decree, statute, rule, or regulation applicable to PrivateCo or its properties or assets.
2.04 Ownership of PrivateCo Stock and Capitalization.
(a) Authorized Shares. Schedule 2.04 sets forth the authorized, issued and outstanding capital stock of PrivateCo (the “PrivateCo Stock”) and the names and addresses of the holders thereof. All shares of PrivateCo Stock are legally and beneficially owned as set forth on Schedule 2.04.
(b) Issuance of Shares. All shares of PrivateCo Stock: (i) are duly and validly authorized and issued, fully paid and non-assessable, with no liability attaching to the ownership thereof, (ii) are not subject to, and were not issued in contravention of, any preemptive or similar rights pursuant to any provision of law, PrivateCo Certificate of Incorporation or Bylaws or any agreement, contract or other obligation to which PrivateCo is a party or is subject, and (c) were issued in accordance with all applicable laws. The rights, privileges and preferences of PrivateCo Stock are as stated in its Certificate of Incorporation. There are no outstanding options, subscriptions, warrants, puts, calls, agreements, understandings, claims or other commitments or rights of any type relating to the issuance, sale or transfer by PrivateCo of any securities or interests of PrivateCo, nor are there outstanding any securities which are convertible into or exchangeable for shares or equity interests of PrivateCo.
2.05 No Transfer Restrictions. Except as set forth in Schedule 2.05, there are no outstanding agreements, restrictions, contracts, commitments or demands of any character to which PrivateCo is a party or of which PrivateCo is aware which relate to or restrict the transfer of any of the shares of PrivateCo Stock. Upon consummation of the Exchange Transaction as contemplated by this Agreement, Savvy will acquire good and marketable title to PrivateCo Stock, free and clear of all liens, pledges, claims, security interests, encumbrances, charges or restrictions of any kind.
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2.06 Litigation. Except as set forth in Schedule 2.06, there is no legal action or any proceeding or investigation (“Action”) pending or, to the knowledge of PrivateCo, threatened against PrivateCo which could have a material adverse effect on its assets, financial condition or ability to execute and perform this Agreement (the “PrivateCo Material Adverse Effect”).
2.07 Brokerage and Finder’s Fees. Neither PrivateCo nor any of its directors, officers or employees have incurred, or will incur, any brokerage, finders or similar fee in connection with the Exchange Transaction or this Agreement, which is the obligation of PrivateCo.
2.08 Audited and Unaudited Financial Statements. PrivateCo has furnished to Savvy its financial statements for the period from inception to December 31, 2012 (“PrivateCo Financial Statements”). PrivateCo Financial Statements (including the related notes, where applicable) are attached hereto as Exhibit 2.08, and such PrivateCo Financial Statements fairly present the assets, liabilities, results of the operations and changes in stockholders’ equity and financial position of PrivateCo for the respective periods or as of the respective dates therein set forth. The books and records of PrivateCo are true and complete in all material respects and have been, and are being, maintained in all material respects in accordance with applicable legal and accounting requirements.
2.09 Undisclosed Liabilities. Other than those disclosed in PrivateCo Financial Statements or arising from or related to the Exploration Agreement (as defined below), PrivateCo has no liabilities or obligations of any nature, except those of less than One Thousand Dollars ($1,000.00), individually, and no more than Five Thousand Dollars ($5,000.00) in the aggregate.
2.10 Taxes.
(a) Payment. PrivateCo has timely paid or accrued all national, state, local and foreign taxes, assessments, fees and other governmental charges required to be paid or accrued as of the date hereof(“Taxes”), and has filed all national, state, local and foreign tax returns and tax reports that it is required to file (the “Returns”). Such Returns and reports are true, correct and complete and have not been amended, and all taxes for which PrivateCo is liable arising under the Returns and reports have either been fully paid or are adequately reserved for in the Financial Statements, and will be timely paid when due. No claim has been made by authorities in any jurisdiction where PrivateCo did not file tax returns that it is or may be subject to taxation by that jurisdiction.
(b) Tax Returns. PrivateCo has not completed a tax year at this time, and accordingly, it has not filed a tax return. To PrivateCo’s knowledge there is no pending or threatened national, state, local or foreign tax audit or assessment nor any agreement by PrivateCo with any federal, state, local or foreign taxing authority that may affect the tax liability of PrivateCo.
(c) Tax Liability. PrivateCo represents that it shall have no obligation with respect to any tax liability of PrivateCo attributable to any period prior to the Effective Time.
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2.11 Compliance with Law. PrivateCo has materially complied with all laws, statutes, ordinances, orders, rules, and all judgments, decisions and orders entered by any federal, state, local or foreign court or governmental authority or instrumentality applicable or relating to PrivateCo or its businesses or properties (“PrivateCo Applicable Laws”).
2.13 Bank Accounts, Depositories, Powers of Attorney. A true, correct and complete list of the names and locations of all banks or other depositories where PrivateCo has accounts or safe deposit boxes with the names of the persons authorized to have access in any way to these items is set forth in Schedule 2.13. Except as set forth in Schedule 2.13, no person has power of attorney with respect to PrivateCo, except in the normal course of business.
2.14 Title to and Condition of Properties. PrivateCo has good, valid and marketable title or ownership, held free and clear of any encumbrance whatsoever to all of its assets and properties of every kind, tangible or intangible, wherever located which is used or planned to be used in the conduct of its business.
2.15 No Conflict or Default. PrivateCo’s execution and performance of this Agreement will not: (i) violate any Applicable Laws or Permits, (ii) cause a lien, security interest or encumbrance of any nature whatsoever with respect to the properties or assets of PrivateCo, or (iii) give any entity an interest or rights, including rights of termination, acceleration or cancellation, with respect to any of the properties, or assets of PrivateCo.
2.16 Complete Disclosure. The representations and warranties of PrivateCo in this Agreement or the related Schedules and Exhibits delivered by or on PrivateCo’s behalf do not contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements herein or therein, in light of the circumstances in which they are made, not misleading.
2.17 Patents and Technology. PrivateCo shall have all necessary patents, copyrights and other ownership rights, in all material technology, processes, procedures and software used or contemplated to be used by PrivateCo in its business.
ARTICLE III
REPRESENTATIONS AND WARRANTIES OF SAVVY
To induce PrivateCo to enter into this Agreement, Savvy represents and warrants to PrivateCo that:
3.01 Organization and Standing. Savvy is a Nevada corporation, with full power and authority (corporate and other) to conduct its business as currently conducted. Savvy is duly qualified to do business and is in good standing in each jurisdiction where its activities would require qualification, except where the failure to qualify would not have a material adverse effect upon Savvy’s business or financial condition, or on the ability of the Parties to consummate the transactions contemplated by this Agreement (“Savvy Material Adverse Effect”). Savvy is not in default of any provision of its organizational documents.
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3.02 Capitalization and Security Holders. The authorized capitalization of Savvy consists of 550,000,000 authorized shares of Common Stock and 25,000,000 shares of Preferred Stock. Each outstanding share of Savvy Stock has been duly authorized and validly issued and is fully paid and non-assessable, and no shares of Savvy Stock have been issued in violation of preemptive or similar rights.
Other than as disclosed in Savvy’s filings with the U.S. Securities and Exchange Commission, there are no outstanding options, subscriptions, warrants, puts, calls, agreements, understandings, claims or other commitments or rights of any type relating to the issuance, sale or transfer by Savvy or, to Savvy’s knowledge, any holder of Savvy Stock, of any other securities or interests of Savvy, nor are there outstanding any securities which are convertible into or exchangeable for Savvy Stock, or any other equity interests of Savvy. The issuance and sale of all securities of Savvy have been in full compliance in all material respects with all applicable federal and state securities laws or pursuant to valid exemptions from such laws.
3.03 Corporate Power and Authority. Savvy has all requisite power and authority to enter into and perform this Agreement and to carry out its obligations under this Agreement. This Agreement and the transactions contemplated by this Agreement have been duly and validly authorized by all necessary Board of Director action on the part of Savvy. This Agreement has been duly executed and delivered and constitutes the legal, valid and binding obligation of Savvy.
3.04 Consents and Approvals. Except as set forth with respect to Savvy on Schedule 3.04, Savvy’s execution, delivery or performance of this Agreement does not and will not require any consents or approvals of, filings with, or action by any third party.
3.05 Audited and Unaudited Financial Statements. Savvy has furnished to PrivateCo the Savvy Financial Statements for the period ending September 30, 2012 and the interim financial statements for the period ending December 31, 2012 (the “Savvy Financial Statements”). The Savvy Financial Statements (including the related notes, where applicable) fairly present (subject, in the case of the unaudited statements, to audit adjustments normal in nature and amount and the addition of customary notes) the assets, liabilities, results of the operations and changes in stockholders’ equity and financial position of Savvy for the respective periods or as of the respective dates therein set forth; and the Financial Statements (including the related notes, where applicable) have been prepared in accordance with Generally Accepted Accounting Principles (“GAAP”) consistently applied during the periods involved, except as indicated in the notes thereto.
3.06 Taxes. Savvy has paid all federal, state, local and foreign taxes, assessments, fees and other governmental charges it is legally required to pay. Savvy has filed all federal, state, local and foreign tax returns and tax reports it is legally required to file and the returns and reports are true, correct and complete and have not been amended, and all taxes arising under the returns and reports have been either fully paid or adequately reserved for in the Savvy Financial Statements, and will be timely paid when due.
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3.07 Compliance with Law. Except where the failure to comply would not have a Savvy Material Adverse Effect, Savvy has materially complied with all laws, statutes, ordinances, orders, rules, and all judgments, decisions and orders entered, by any federal, state, local or foreign court or governmental authority or instrumentality applicable or relating to Savvy or its businesses or properties (“Savvy Applicable Laws”).
3.08 No Conflict or Default. Savvy’s execution, delivery or performance of this Agreement will not violate any Savvy Applicable Laws or conflict with or result in the breach of any provision of Savvy’s organizational documents.
3.09 Litigation. There is no Action pending or, to the knowledge of Savvy, threatened against Savvy which could have a Savvy Material Adverse Effect or a material adverse effect on Savvy’s ability to execute and perform this Agreement.
3.10 Complete Disclosure. The representations and warranties by Savvy in this Agreement or the related Schedules and Exhibits delivered by or on Savvy’s behalf do not contain any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements herein or therein, in light of the circumstances in which they are made, not misleading.
ARTICLE IV
COVENANTS OF THE PARTIES
4.01 Mutual Covenants.
(a) General. Each Party shall use its best efforts to take all actions promptly and do all things necessary, proper or advisable to perform as required in this Agreement, including without limitation using all commercially reasonable efforts to cause the satisfaction of all the conditions set forth in this Agreement for which the Party is responsible as soon as reasonably practicable and to prepare, execute, acknowledge or verify, deliver, and file the additional documents, and take or cause to be taken the additional actions, as any Party may reasonably request to carry out the purposes or intent of this Agreement.
(b) Cooperation. At and after the Effective Time, each Party shall execute any and all further documents and writings and perform any other commercially reasonable actions reasonably requested by the other Party to perform this Agreement.
(c) Confidential Information. No Party shall at any time directly or indirectly copy, disseminate or use, for such Party’s own benefit or the benefit of any third party, any information that has been disclosed in confidence by the other Party (“Confidential Information”), regardless of how the Confidential Information was acquired, except for the disclosure or use of the Confidential Information: (x) upon the advice of counsel required by law or legal process, or (y) authorized in writing by the Party that owns the Confidential Information.
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Each Party acknowledges and agrees that remedies at law for a violation or attempted violation of any of the obligations in this Section 4.01(c) would be inadequate and would cause immediate irreparable harm to the other Parties, and agrees that in the event of any such violation or attempted violation, each Party is entitled to a temporary restraining order, temporary and permanent injunctions, and other equitable relief, without the necessity of posting any bond or proving any actual damage, in addition to all other rights and remedies which may be available.
(d) Obligation to Update Schedules. Immediately prior to the Closing, each Party shall promptly disclose to the others any information contained in the representations and warranties or Schedules which at any time is materially incomplete or is no longer materially correct or any material adverse development affecting the results of either Savvy’s or PrivateCo’s respective operations; provided, however, that no disclosure to this Agreement shall be deemed to modify, amend or supplement the representations and warranties of a Party or the Schedules attached unless the Party to whom the representations and warranties are made has consented in writing.
(e) Regulatory Matters and Approvals. Each of the Parties will give any notices to, make any filings with, and use their reasonable best efforts to obtain any authorizations, consents, and approvals of governments and governmental agencies in order to effect the Exchange Transaction.
4.02 Reasonable Access. PrivateCo shall give to Savvy, its counsel, accountants, financial advisers and lenders, and other representatives, after reasonable notice, reasonable access, during normal business hours, throughout the period prior to the Closing, to all of the properties, books, contracts, commitments and records relating exclusively to PrivateCo’s business, and PrivateCo shall reasonably cooperate with Savvy and its accountants in connection with the preparation of timely and complete audited and unaudited financial statements.
ARTICLE V
CONDITIONS
5.01 Mutual Conditions. The Parties’ obligations to consummate the Exchange Transaction and to perform this Agreement are subject to all of the following conditions:
(a) No Action. No Action before any court or governmental body is pending or threatened wherein a judgment, decree or order would restrain, prohibit or invalidate any of the transactions contemplated by this Agreement or cause the Exchange Transaction to be declared unlawful or rescinded.
(b) Approvals. All action necessary to authorize the execution and delivery of this Agreement and consummation of the Exchange Transaction have been obtained.
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5.02 Conditions to Obligations of PrivateCo. Savvy’s obligation to consummate the Exchange Transaction and to perform this Agreement is subject to the fulfillment of all of the following conditions unless waived by Savvy in writing:
(a) Representations and Warranties. The representations and warranties of PrivateCo set forth in this Agreement are true and correct as of the Closing as though made at and as of the Closing.
(b) Performance of Agreement. PrivateCo shall have performed and observed in all material respects all obligations and conditions to be performed or observed by it under this Agreement at or prior to the Closing.
(c) Due Diligence Investigation. Savvy, in its sole discretion, shall be fully satisfied with the results of its legal and financial due diligence investigation of PrivateCo.
(d) Officers’ Certificate. PrivateCo shall have furnished to Savvy a certificate, dated the date of the Closing and signed by the President of PrivateCo on behalf of PrivateCo representing that the conditions set forth in Sections 5.02(a) and (b) have been fulfilled, and attach a good standing certificate for PrivateCo.
(e) Material Adverse Changes. Since the date of this Agreement, there has occurred no change in the operations, prospects, assets, business, or condition (financial or otherwise) of PrivateCo which would have PrivateCo Material Adverse Effect.
(f) Deliveries. All documents or instruments required to be delivered by PrivateCo, or other holders of PrivateCo Stock at or prior to the Closing, shall have been delivered to Savvy.
(g) Corporate Approval. This Stock Exchange Agreement shall have been approved by all necessary corporate action.
(h) Consents. PrivateCo shall have procured all third-party consents necessary to effect the Exchange Transaction.
(i) Form of Actions. All actions to be taken by PrivateCo in connection with consummation of the transactions contemplated hereby and all certificates, opinions, instruments, and other documents required to effect the transactions contemplated hereby will be satisfactory in form and substance to Savvy.
(j) Financial Statements. PrivateCo shall deliver to Savvy financial statements for the period ending December 30, 2012, which are audited in accordance with GAAP.
5.03 Conditions to Obligations of PrivateCo. PrivateCo’s obligation to consummate the Exchange Transaction and to perform this Agreement is subject to the fulfillment of all of the following conditions, unless waived by PrivateCo in writing:
(a) Representations and Warranties. Savvy’s representations and warranties set forth in this Agreement are true and correct as of the Closing as though made at the Closing except where any untruth or inaccuracy will not, either individually or in the aggregate, have a Savvy Material Adverse Effect.
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(b) Performance of Agreement. Savvy shall have performed and observed in all material respects all obligations and conditions to be performed or observed by it under this Agreement at or prior to the Closing.
(c) Officers’ Certificate. Savvy has furnished a certificate, dated the date of the Closing and signed by the President of Savvy on behalf of Savvy that the conditions set forth in Sections 5.03(a) and (b) have been fulfilled;
(d) Material Adverse Changes. There has occurred no change in the operations, prospects, assets, business, or condition (financial or otherwise) of Savvy which would have a Savvy Material Adverse Effect.
(e) Deliveries. All documents or instruments required to be delivered by Savvy or third parties at or prior to the Closing shall have been delivered to PrivateCo.
ARTICLE VI
TERMINATION, SURVIVAL AND MISCELLANEOUS AGREEMENTS
6.01 Termination. This Agreement may be terminated at any time prior to the Closing as follows: (a) by mutual written consent of PrivateCo and Savvy; (b) by either PrivateCo or Savvy if the other has breached or failed to perform in any material respect any of its representations, warranties, covenants or other agreements contained in this Agreement which is incapable of being cured or is not cured within thirty (30) days of written notice of default; (c) by Savvy if any of the conditions set forth in Sections 5.01 or 5.02 have not been satisfied on or prior to Closing; (d) by PrivateCo if any of the conditions set forth in Section 5.01 and 5.03 have not been satisfied on or prior to Closing.
6.02 Survival of Representations and Warranties. The covenants, representations and warranties contained herein shall survive the Closing of the Exchange Transaction.
ARTICLE VII
MISCELLANEOUS
7.01 Notices. All notices and other communications under this Agreement to any Party shall be in writing and shall be deemed given when delivered to that Party, sent by facsimile transmission (with electronic confirmation) to that Party at the facsimile number for that Party set forth below, mailed by U.S. mail (postage prepaid and return receipt requested) to that Party at the address for that Party set forth below, or delivered by Federal Express or any similar express delivery service for delivery to that Party at that address:
If to Savvy:
123 W. Nye Ln. Suite 455
Ph./Fx. 888-983-1623
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With a copy to:
Philip Magri, Esq.
The Magri Law Firm, PLLC
11 Broadway, Suite 615
Direct: (954) 303-8027
T: (646) 502-5900
F: (646) 836-9200
If to PrivateCo:
123 W. Nye Ln. Suite 129
Ph./Fx. 888-891-9705
Any Party may change its facsimile number or address for notices under this Agreement at any time by giving the other Parties written notice of the change.
7.02 Non-Waiver. No failure by a Party to insist upon strict compliance with a term or provision of this Agreement, to exercise any right, or to seek a remedy is a waiver of the right to insist upon such strict compliance, to exercise that or any other right, or seek that or any other remedy at any other time. This Agreement may not be modified by custom or practice in the trade, by the actions of the Parties or in any other manner except in writing signed by the party against whom enforcement is sought.
7.03 Headings. The headings of the various Articles and Sections of this Agreement are not part of the context of this Agreement, are merely labels to assist in locating such articles and Sections, and shall be ignored in construing this Agreement.
7.04 Counterparts. This Agreement may be executed in multiple counterparts, each of which is an original, but all of which taken together are one and the same Agreement.
7.05 Entire Agreement. This Agreement (including the Exhibits and Schedules hereto) constitutes the entire agreement between the Parties with respect to its subject matter and supersedes all prior or contemporaneous discussions, negotiations, agreements and understandings (both written and oral) among the Parties with respect to such subject matter; and may be amended only by a writing signed by all Parties.
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7.06 Governing Law. This Agreement is governed by and shall be construed in accordance with the laws of Nevada, without regard to its principles of conflicts of law. The Parties irrevocably submit to the jurisdiction and venue of any federal or state court in Las Vegas, Nevada over any dispute arising out of this Agreement and agree that all claims related to any dispute related to this Agreement shall be heard and determined in any such court. The Parties irrevocably waive, to the fullest extent permitted by law, any objection they may have to the venue of any dispute brought in any such court or any defense of inconvenient forum for the maintenance of the dispute. The Parties irrevocably consent to process being served upon them in any site, action or proceeding before any such court by delivering as provided for notices in Section 7.01 of this Agreement. All rights and remedies of each Party under this Agreement are cumulative and are in addition to all other rights and remedies available to the Party from time to time, whether under this Agreement otherwise.
7.07 Binding Effect; Assignment. This Agreement is binding upon, inures to the benefit of and is enforceable by and against the Parties and their respective heirs, personal representatives, successors and permitted assigns. Neither this Agreement nor any of the rights, interests or obligations under this Agreement may be transferred or assigned by any of the Parties without the prior written consent of the other Parties and any attempted assignment in violation of this provision is void.
7.08 Expenses. Except as otherwise specifically provided in this Agreement, each party shall pay the expenses they may incur in connection with the transactions contemplated by this Agreement, including without limitation the fees and expenses of legal counsel, accountants and financial advisors.
7.09 Severability. If any provision of this Agreement is determined by a court or other government entity to be unenforceable, the Parties shall cooperate in good faith to rewrite such provision so that it is enforceable to the maximum extent permitted by applicable law, and the Parties shall abide by the provisions as rewritten. If any provision of this Agreement cannot be rewritten, the provision shall be severed from this Agreement, but every other provision of this Agreement shall remain in full force and effect.
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IN WITNESS WHEREOF, the Parties have caused this Agreement to be duly executed as of the date first written above.
| SAVVY BUSINESS SUPPORT, INC. | ||
| By: | /s/ Bharat Vasandani | |
| Name: | Bharat Vasandani | |
| Title: | President, Chairman of the Board, Chief Executive Officer and Chief Financial Officer | |
| PAN ASIA INFRATECH CORP. | ||
| By: | /s/ Bharat Vasandani | |
| Name: | Bharat Vasandani | |
| Title: | President | |
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| This ‘8-K’ Filing | Date | Other Filings | ||
|---|---|---|---|---|
 | ||||
| Filed on: | 5/1/13 | |||
| 4/26/13 | 8-K, 8-K/A | |||
| For Period End: | 4/25/13 | 8-K | ||
| 12/31/12 | 10-Q | |||
| 12/30/12 | ||||
| 9/30/12 | 10-K | |||
| List all Filings | ||||
As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 1/16/24 Flywheel Advanced Tech, Inc. 10-K 9/30/23 84:5.8M M2 Compliance LLC/FA 3/24/23 Flywheel Advanced Tech, Inc. 8-K:1,2,3,5 3/22/23 19:27M M2 Compliance LLC/FA 12/28/22 Flywheel Advanced Tech, Inc. 10-K 9/30/22 31:1.9M M2 Compliance LLC/FA |