StateofFlorida Rev. 133C6AE ASSETPURCHASEAGREEMENT
ThisAssetPurchaseAgreement(this“Agreement”)isenteredintoasofthe15dayofJanuary,2018(the“EffectiveDate”)byandbetweenBITEXPRESS,LLC,locatedat15901CollinsAve#1507,SunnyIslesBeach,FL33160(the“Seller”)andOBITX,INC.,locatedat4720SalisburyRoad,Jacksonville,FL32256(the“Buyer”).
WHEREAS,theSellerownsassetsknownasthecryptocurrencyATM’s(the“Merchandise”).
WHEREAS,thepartiesintendthattheSellershallselltotheBuyertheMerchandisefortheprice,termsandconditionsdescribedbelow,andpursuanttotheattachmentsandexhibits,ifany,annexedtothismaindocument.
NOWTHEREFORE,forthereasonssetforth,andinconsiderationofthemutualcovenantsandpromisesofthepartieshereto,andintendingtobelegallybound,theSellerandtheBuyeragreeasfollows:
1.SaleofMerchandise.OnthetermsandsubjecttotheconditionssetforthinthisAgreement,theSelleragreestosell,assign,transfer,conveyanddelivertotheBuyer,andtheBuyeragreestopurchaseandacquirefromtheSellerallrights,titleandinterestsoftheSellerinandtotheMerchandise,adherenttoExhibitAattachedhereto.
2. MerchandiseWarranties.
(a) TheSellerguaranteesthequalityandreliabilityofthedeliveredMerchandise,andshalladheretoafullwarrantyoftheMerchandise. (b) Seller,adherenttoExhibitAattached,shallbeartheriskoflosstoMerchandiseuntiltheMerchandisehasreachedthelocationofBuyer. (c) TheSellerincludesallwarrantiesoftheMerchandiseforaperiodof12monthsfromthedateofreceiptbyBuyer,includingbutnotlimitedto,warrantyforaparticularpurpose.ThepurposeoftheMerchandiseincludes,butisnotlimitedtothecapabilityofhostingtransactionsthatincludecryptocurrency. (d) Incaseofdetectionofdisrepairand/orlatentdefectsoftheMerchandiseduringthetermofwarranty,theBuyershallsendawarrantyclaimtotheSellerwiththedescriptionofthemalfunction. (e) TheSeller,attheirownexpense,shalleliminate theidentifieddefectson thebasisofandwithinthetimespecifiedinthewarrantyclaim.Ifnotimeframeisspecifiedwithintheclaim,Sellershallcuredefectswithinthirty(30)calendardaysofhavingreceivedthewarrantyclaimfromBuyer. 1/ 5 |
(f) IfSellerrefusestocurethedefectidentifiedbySeller,orifdefectisnotcuredwithin30daysofhavingreceivedthewarrantyclaimfromBuyer,BuyermayrequestforathirdpartytocureorpurchasetheMerchandise.SellershallassumeallcostsofBuyer’sactionsifSellerrefusestocureadefect.
3. PurchasePrice.BuyerwillpaytotheSellerthepurchasepriceforthesaleoftheMerchandiseinthetotalsumof$152,845.00USD(the“PurchasePrice”).
4. ClosingDate.ThesaleandtransferofassetsandtheclosingunderthisAgreementshalltakeplaceonJanuary15,2018.Atthattime,Sellershalldeliverpossessionofthetangiblepropertyandall assets includedinthesaleto theBuyerandall other instruments anddocumentsnecessarytotransfertheMerchandiseandassetstoBuyer.Sellershallatthattimeexecuteanddeliverallpapersandinstrumentssuitableforfilingand/orwhicharenecessarytotransferownershipoftheMerchandisetoBuyer,andSellershallthereafterceaseto usesaidmerchandiseinanymannerorpurpose.WhenthatdeliveryismadetoBuyer,BuyershallhaveexclusiveownershipandpossessionoftheMerchandise.SellershallhavearighttoalienontheMerchandiseuntiltheMerchandisehasbeenfullypaidforbytheBuyer,oriftherehasbeenanagreementtomodifythetermsofthisAgreement.
5. RepresentationsandWarrantiesofSeller.Sellerrepresentsandwarrantsthat:
(a) Sellerisdulyqualifiedand organized,andisvalidlyexistingandingoodstanding,underthelawsofitsstateofformation. (b) SellerhastherequisitepowerandauthoritytoenterintoandperformunderthisAgreement. (c) Selleristheownerofandhasgoodandmarketabletitletothepropertyinvolvedinthissale,freeofallrestrictionsontransferorassignmentandallencumbrancesexceptforthosethataresetforthinthisAgreement. (d) Sellerisnotrequiredtoacquireanyconsents,approvalsorauthorizationsbyanygovernmentalauthoritytoexecute,deliverandperformitsobligationsunderthisAgreement. (e) TheexecutionanddeliveryofthisAgreementbySellerwillnotconflictwithorresultinaviolationofordefaultunderanymaterialagreementstowhichSellerisapartyorcreatealienupontheMerchandise. (f) Therearenoproceedings,judgments,orliensarenowpendingorthreatenedagainstSelleroragainsttheMerchandise. (g) Sellerhascompliedwithallapplicablefederal,state,andlocalstatutes,laws,andregulationsaffectingSeller’spropertiesortheoperationofSeller’sMerchandise,andSellerhasreceivednonoticeofaviolationorcitationsamefromanygovernmentalagencies. (h) Sellerhasnototherwisecontractedtosell,pledge,ormortgageallorpartoftheMerchandise. 2/ 5 |
(i) SellerhaspresentedtoBuyertrue,complete,andcorrectinformationanddocumentsregardingtheMerchandise,andnoneoftheinformationcontainsanuntruestatementofmaterialfactoromitstostateamaterialfact.
6. RepresentationsandWarrantiesofBuyer.Buyerrepresentsandwarrantsthat:
(a) Buyerisdulyqualifiedand organized,andis validlyexistingandin goodstanding, underthelawsofitsstateofformation. (b) BuyerhastherequisitepowerandauthoritytoenterintoandperformunderthisAgreement.
7. Notices.All noticesgivenunderthisAgreementmustbeinwriting.Anoticeiseffectiveuponreceiptandshallbesentviaoneofthefollowingmethods:deliveryinperson,overnightcourierservice,certifiedorregisteredmail,postageprepaid,returnreceiptrequested,addressedtothepartytobenotifiedattheaddressstatedinthisAgreement,orasdesignatedbyeitherpartyuponreasonablenoticetotheotherparty.
8. Amendment.ThisAgreementmaybeamendedormodifiedonlybyawrittenagreementsignedbybothoftheparties.
9. SurvivalofTerms.Allcovenants,warranties,andrepresentationshereinshallsurvivethisAgreementandtheclosingdate.
10. BindingEffect.ThisAgreementshallbebindinguponandshallinuretothebenefitofthepartiesandtheirsuccessorsandassigns.NeitherpartymayassignitsrightsordelegateitsdutiesunderthisAgreementwithouttheotherparty’spriorwrittenconsent.
11. GoverningLaw.ThisAgreementwillbegovernedbyandconstruedinaccordancewiththelawsoftheStateofFlorida,withoutregardtotheprinciplesofconflictoflaws.
12. Disputes.AnydisputearisingfromthisAgreementshallberesolvedthroughmediation.Ifthedisputecannotberesolvedthroughmediation,thenthedisputewillberesolvedthroughbindingarbitrationconductedinaccordancewiththerulesoftheAmericanArbitrationAssociation.
13. Attorneys’Fees.IfeitherPartybringslegalactiontoenforceitsrightsunderthisAgreement,theprevailingpartywillbeentitledtorecoverfromtheotherPartyitsexpenses(includingreasonableattorneys’fees)incurredinconnectionwiththeactionandanyappeal.
14. Counterparts.ThisAgreementmaybeexecutedinoneormorecounterparts,eachofwhichshallbedeemedtobeanoriginal,andallofwhichtogethershallconstituteoneandthesamedocument. 3/ 5 |
15. Headings.Thesectionheadings hereinareforreferencepurposesonlyandshallnototherwiseaffectthemeaning,constructionorinterpretationofanyprovisioninthisAgreement. 16. NoWaiver.NoPartyshallbedeemedtohavewaivedanyprovisionofthisAgreementortheexerciseofanyrightsheldunderthisAgreementunlesssuchwaiverismadeexpresslyandinwriting. 17. Severability.IfanyprovisionofthisAgreementisheldtobeinvalid,illegalorunenforceableinwholeorinpart,theremainingprovisionsshallnotbeaffectedandshallcontinuetobevalid,legalandenforceableasthoughtheinvalid,illegalorunenforceablepart hadnotbeenincludedinthisAgreement. 18. EntireAgreement.ThisAgreementandtheattachmentsandanyassociateddocumentsrepresenttheentireagreementbetweentheparties,andtherearenorepresentations,warranties,covenantsorconditions,exceptthosespecifiedhereinorinaccompanyinginstrumentsordocuments. INWITNESSWHEREOF,thepartieshaveexecutedthisAgreement asofthedatefirstwrittenabove.
BitExpress,LLC–IlyaShurygin,MGR ____________________________________ __________________________________ SellerSignature SellerFullName
OBITX,Inc.–AlexMardikian,CEO ____________________________________ ___________________________________ BuyerSignature BuyerFullName
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ExhibitA |
Name | Quantity | PricePerUnit | ShipmentMethod | TotalPrice |
CryptocurrencyATM | 25 | $6,113.80 | FOB-Buyer | $152,845.00 |
|
|
| GRAND TOTAL |
$152,845.00 |
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