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Assets of Early Childhood Education Centers Business

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Assets of Early Childhood Education Centers Business



Price: Not Specified

Other Item Info
Item #: azbke_735101
Created: 03/01/2019
Category: Business Property > All Assets or Going Concerns > Support Services
Sale Date: None Set
Seller Info
MICHAEL W. CARMEL
Debtor's Attorney
80 E. COLUMBUS AVE
PHOENIX, AZ 85012
602-264-4965
Bankruptcy Info
Case #: 2:17-bk-14851
Case Title: CLA PROPERTIES SPE, LLC
Court: Arizona Bankruptcy Court
Chapter: 11
View Case Docket

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Description

Sale of substantially all of assets of the CLA PROPERTIES SPE, LLC, including all of the Seller Parties' right, title and interest in and to the operational assets that are owned and held for use by the Applicable Seller Parties in connection with the Business (other than the Excluded Assets) in each case including the following:

  • All furniture, fixtures, equipment, machinery, tools, motor vehicles, office equipment (including playground and classroom equipment), supplies, computers, telephones and other tangible personal property ("Tangible Personal Property"), including, without limitation, (i) all items of personal property affixed or attached to any building or structure comprising a part of such ECE Property or otherwise constituting a fixture or improvement on such ECE Property, (ii) all proceeds and replacements of any item of personal property that had been financed by Buyer or any of its Affiliates pursuant to any Contract, and (iii) the motor vehicles set forth on Disclosure Schedule 2.01(a)(i) which relate to, or are used or held for use in connection with, the Business conducted at such ECE Property ("Busses" and each, a "Bus");
  • To the extent legally assignable or transferrable, certificates of occupancy and business licenses relating to the ECE Properties;
  • All rights of CLA and such CLA Operator under the Assigned Contracts;
  • All Customer Lists;
  • All of CLA's and such CLA Operator's rights under warranties, the extent related to the construction, development or improvement to the facilities located on the ECE Properties; and
  • The assets, properties and rights set forth on Disclosure Schedule 2.01(a)(vi) with respect to the Business conducted at such ECE Property.

Additional Details

Purchase Price: The Purchase Price shall consist of (i) waiver of approximately $25,000,000.00 in indebtedness due Purchaser; (ii) assumption of approximately $3,774,201.49 in Business Indebtedness; (iii) up to $600,000.00 to be deposited in escrow, to be disbursed only pursuant to a subsequent Bankruptcy Court Order; (iv) the assumption of certain liabilities, as set forth in Section 2.04; and (v) such other consideration as set forth in the Purchase Agreement.



Other Information

Terms and Conditions:

See Attached.


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