{"component": "clause", "props": {"groups": [{"size": 14, "snippet": "9 Agreement......................................................................7", "samples": [{"hash": "cGh8SlFYxUt", "uri": "/contracts/cGh8SlFYxUt#aggregate-consideration", "label": "Agreement and Plan of Reorganization (Swi Holdings LLC)", "score": 18.0, "published": true}, {"hash": "b8NE7CHTtAT", "uri": "/contracts/b8NE7CHTtAT#aggregate-consideration", "label": "Agreement and Plan of Reorganization (Swi Holdings LLC)", "score": 18.0, "published": true}], "snippet_links": [], "hash": "506b3e75b2eaadf4cbfff94b118f95d6", "id": 1}, {"size": 3, "snippet": "The aggregate consideration for all of the Capital Stock of the Company shall be as follows (subject to adjustment as set forth herein) (the \u201cMerger Consideration\u201d): (i) $20,000,000.00 payable in cash (the \u201cCash Consideration\u201d), of which (a) $12,000,000.00 shall be paid at the Closing (the \u201cClosing Cash Consideration\u201d), (b) $1,000,000.00 shall be paid on each quarterly anniversary of the Closing Date for the first four quarters following the Closing (the \u201cQuarterly Cash Consideration\u201d) and (c) $4,000,000.00 shall be paid on the fifteen-month anniversary of the Closing Date (the \u201c15-Month Cash Consideration\u201d and together with the Quarterly Cash Consideration, the \u201cPost-Closing Cash Consideration\u201d); (ii) an amount of simple interest on the unpaid Post-Closing Cash Consideration from the Closing Date until the fifteen-month anniversary of the Closing Date, at a rate of six percent (6%) per annum, such interest payable in a lump sum on the fifteen-month anniversary of the Closing Date (the \u201cInterest Payment\u201d); and (iii) 1,794,455 shares of Buyer Common Stock (the \u201cEquity Consideration\u201d), of which (x) 717,782 shares of Buyer Common Stock shall be issued at the Closing (the \u201cNon-Restricted Equity Consideration\u201d), (y) 969,005 shares of Buyer Common Stock shall be issued at the Closing but subject to forfeiture as provided in Section 3.4(c) (the \u201cNuCel Equity Consideration\u201d) and (z) 107,668 shares of Buyer Common Stock shall be issued at the Closing but subject to forfeiture as provided in Section 3.4(d) (the \u201c\u2587\u2587\u2587\u2587 Equity Consideration\u201d and together with the NuCel Equity Consideration, the \u201cRestricted Equity Consideration\u201d).", "samples": [{"hash": "hVOUtjpVUEH", "uri": "/contracts/hVOUtjpVUEH#aggregate-consideration", "label": "Merger Agreement", "score": 31.3408622742, "published": true}, {"hash": "8yTmcS8yNPN", "uri": "/contracts/8yTmcS8yNPN#aggregate-consideration", "label": "Merger Agreement (Organogenesis Holdings Inc.)", "score": 29.9418201447, "published": true}], "snippet_links": [{"key": "the-company-shall", "type": "clause", "offset": [60, 77]}, {"key": "subject-to", "type": "definition", "offset": [93, 103]}, {"key": "merger-consideration", "type": "definition", "offset": [142, 162]}, {"key": "at-the-closing", "type": "definition", "offset": [271, 285]}, {"key": "closing-cash-consideration", "type": "definition", "offset": [292, 318]}, {"key": "the-closing-date", "type": "clause", "offset": [387, 403]}, {"key": "following-the-closing", "type": "clause", "offset": [432, 453]}, {"key": "interest-on-the", "type": "clause", "offset": [732, 747]}, {"key": "rate-of", "type": "clause", "offset": [871, 878]}, {"key": "per-annum", "type": "definition", "offset": [896, 905]}, {"key": "interest-payable", "type": "definition", "offset": [912, 928]}, {"key": "lump-sum", "type": "clause", "offset": [934, 942]}, {"key": "interest-payment", "type": "clause", "offset": [1002, 1018]}, {"key": "shares-of-buyer-common-stock", "type": "clause", "offset": [1042, 1070]}, {"key": "stock-shall", "type": "definition", "offset": [1145, 1156]}, {"key": "restricted-equity-consideration", "type": "definition", "offset": [1192, 1223]}], "hash": "7ada02aad4eecd986bf9e483786b4eed", "id": 10}, {"size": 4, "snippet": "(a) Subject to the terms and conditions of this Agreement, in reliance upon the representations, warranties, covenants and agreements of the Sellers, Company and Subsidiary set forth herein, and as consideration for the purchase and sale of the Shares, on and as of the Closing Date, the Purchaser agrees to pay and transfer to the Sellers the following consideration (collectively, the \u201cAggregate Consideration\u201d):\n(i) Subject to Section 2.03(b), Twenty-Seven Million Dollars ($27,000,000) in cash by wire transfer of immediately available funds to the accounts designated by the Sellers, except for the portion of said payment to be paid by check to those Sellers identified on Schedule 2.03, which shall be paid by Purchaser\u2019s check dated the Closing Date;\n(ii) Eighty-Seven Thousand Five Hundred (87,500) shares of Purchaser Common Stock to the Sellers indicated on Schedule 2.03; and\n(iii) the amount, if any, determined pursuant to Section 2.03(d) below within the time frame set forth therein.\n(b) On the Closing Date, One Million Five Hundred Thousand Dollars ($1,500,000) (the \u201cEscrow Amount\u201d), that would otherwise be delivered to the Sellers pursuant to Section 2.03(a), shall be transferred to a separate escrow account (the \u201cEscrow Account\u201d). The Escrow Amount shall be held in escrow until the end of the fifteen (15) month period following the Closing Date (or as otherwise set forth in the Escrow Agreement), as partial security for the indemnification obligations of the Sellers set forth in this Agreement. The Escrow Amount and the release thereof to the Purchaser and Sellers shall be governed by the terms and conditions of an Escrow Agreement among the Sellers\u2019 Representative on behalf of the Sellers, the Purchaser and Manufacturers and Traders Trust Company (the \u201cEscrow Agent\u201d) in the form attached hereto as Exhibit A (the \u201cEscrow Agreement\u201d). On the Closing Date, Seventy Five Thousand Dollars ($75,000) (the \u201cHoldback Amount\u201d) that would otherwise be delivered to the Sellers pursuant to Section 2.03(a), shall be transferred to a separate account maintained by the Sellers\u2019 Representative for use solely to pay professional fees and expenses and other costs incurred subsequent to the Closing Date to perform the obligations of Sellers and the Sellers\u2019 Representative.\n(c) Within sixty (60) days after the Closing Date, the Purchaser shall have prepared and delivered to the Sellers\u2019 Representative the calculation of Net Working Capital as of the Closing Date (the \u201cClosing Date Net Working Capital\u201d). The calculation of Closing Date Net Working Capital shall be in the form and use the methodology set forth on Exhibit B hereto. The calculation of the Closing Date Net Working Capital shall be final and binding on the parties unless, within thirty (30) days after delivery to the Sellers\u2019 Representative, the Sellers\u2019 Representative delivers to the Purchaser a notice of dispute (a \u201cDispute Notice\u201d) specifying in reasonable detail the items in dispute. Such items in dispute shall be limited to claims of the Purchaser\u2019s arithmetic error or use of accounting principles, policies, practices, classifications or methodologies other than those set forth in Exhibit B. After delivery of a Dispute Notice, the Sellers\u2019 Representative and the Purchaser shall promptly negotiate in good faith with respect to the subject of the Dispute Notice, and if they are unable to reach an agreement within fifteen (15) days after delivery by the Sellers\u2019 Representative of the Dispute Notice, the dispute shall be submitted to \u2587\u2587\u2587\u2587\u2587 \u2587\u2587\u2587\u2587\u2587\u2587\u2587\u2587 LLP, or such other independent public accounting firm as mutually agreed to by the Purchaser and the Sellers\u2019 Representative (the \u201cIndependent Accounting Firm\u201d). The Independent Accounting Firm shall be directed to issue a final and binding decision within thirty (30) days of submission of the Dispute Notice to the Independent Accounting Firm, as to the issues of disagreement referred to in the Dispute Notice and not resolved by the Purchaser and the Sellers\u2019 Representative, provided that, (i) in resolving any disputed item, the Independent Accounting Firm may not assign a value to any item greater than the greatest value for such item claimed by either party or less than the smallest value for such item claimed by either party; and (ii) in no event shall Closing Date Working Capital as determined by the Independent Accounting Firm be less than Purchaser\u2019s calculation of the Closing Date Working Capital nor more than the Sellers\u2019 Representative\u2019s calculation of Closing Date Working Capital set forth in the Dispute Notice. The decision of the Independent Accounting Firm shall be final, conclusive and binding on the parties. The fees and expenses of the Independent Accounting Firm shall be borne one-half by the Sellers and one-half by the Purchaser.\n(d) If the Closing Date Net Working Capital, as determined in accordance with Section 2.03(c) above, is less than Two Million Dollars ($2,000,000) (the \u201cCompany Net Working Capital\u201d), the Aggregate Consideration shall be reduced on a dollar-for-dollar basis by the amount by which the Company Net Working Capital exceeds the Closing Date Net Working Capital, and the Sellers\u2019 Representative, on behalf of the Sellers, shall cause the Escrow Agent to pay to the Purchaser the dollar amount by which the Company Net Working Capital exceeds the Closing Date Net Working Capital (or, to the extent there are insufficient funds remaining in the Escrow Account at the time such payment is to be made, such payment shall be made directly from the Sellers to the Purchaser). If the Closing Date Net Working Capital is greater than the Company Net Working Capital, then the Aggregate Consideration shall be increased on a dollar-for-dollar basis by the amount the Closing Date Net Working Capital exceeds the Company Net Working Capital, and the Purchaser shall pay the Sellers the dollar amount by which the Closing Date Net Working Capital exceeds the Company Net Working Capital. Any such payment due under this Section 2.03(d) shall be made in cash or same day funds within five (5) Business Days after the final determination of the Closing Date Net Working Capital pursuant to Section 2.03(c).\n(e) Each Seller shall receive the portion of the Aggregate Consideration, and make any payments as may be required (or bear a reduction in the Escrow Amount) in accordance with this Section 2.03, as set forth next to such Seller\u2019s name on Schedule 2.03, which sets forth that portion of the cash and/or Purchaser Common Stock each Seller shall receive hereunder, and identifies those Sellers who shall receive payment of their portion of the Closing Payment by check and the respective percentage of the Aggregate Consideration payable to each Seller hereunder under the column titled \u201cApplicable Percentages\u201d set forth opposite each Seller\u2019s name (collectively the \u201cApplicable Percentages\u201d and individually \u201cApplicable Percentage\u201d).", 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"net-working-capital-as-of-the-closing-date", "type": "definition", "offset": [2447, 2489]}, {"key": "closing-date-net-working-capital", "type": "clause", "offset": [2496, 2528]}, {"key": "exhibit-b", "type": "definition", "offset": [2642, 2651]}, {"key": "calculation-of-the", "type": "clause", "offset": [2664, 2682]}, {"key": "binding-on-the-parties", "type": "clause", "offset": [2735, 2757]}, {"key": "within-thirty", "type": "clause", "offset": [2766, 2779]}, {"key": "delivery-to-the", "type": "clause", "offset": [2796, 2811]}, {"key": "notice-of-dispute", "type": "definition", "offset": [2893, 2910]}, {"key": "the-items", "type": "definition", "offset": [2964, 2973]}, {"key": "in-dispute", "type": "definition", "offset": [2974, 2984]}, {"key": "of-the-purchaser", "type": "clause", "offset": [3035, 3051]}, {"key": "accounting-principles", "type": "definition", "offset": [3081, 3102]}, {"key": "a-dispute-notice", "type": "clause", "offset": [3217, 3233]}, {"key": "and-the-purchaser", 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[3862, 3875]}, {"key": "the-issues", "type": "clause", "offset": [3911, 3921]}, {"key": "provided-that", "type": "clause", "offset": [4039, 4052]}, {"key": "disputed-item", "type": "clause", "offset": [4075, 4088]}, {"key": "by-either-party", "type": "clause", "offset": [4211, 4226]}, {"key": "in-no-event-shall", "type": "clause", "offset": [4307, 4324]}, {"key": "closing-date-working-capital", "type": "definition", "offset": [4325, 4353]}, {"key": "the-decision", "type": "clause", "offset": [4597, 4609]}, {"key": "conclusive-and-binding", "type": "clause", "offset": [4661, 4683]}, {"key": "expenses-of-the", "type": "clause", "offset": [4713, 4728]}, {"key": "in-accordance-with", "type": "definition", "offset": [4886, 4904]}, {"key": "company-net-working-capital", "type": "definition", "offset": [4980, 5007]}, {"key": "the-company", "type": "definition", "offset": [5108, 5119]}, {"key": "the-escrow-agent", "type": "clause", "offset": [5257, 5273]}, {"key": "pay-to", "type": "definition", "offset": [5277, 5283]}, {"key": "dollar-amount", "type": "definition", "offset": [5302, 5315]}, {"key": "to-the-extent", "type": "clause", "offset": [5407, 5420]}, {"key": "funds-remaining", "type": "definition", "offset": [5444, 5459]}, {"key": "the-escrow-account", "type": "clause", "offset": [5463, 5481]}, {"key": "at-the-time", "type": "clause", "offset": [5482, 5493]}, {"key": "payment-due", "type": "definition", "offset": [6010, 6021]}, {"key": "same-day-funds", "type": "definition", "offset": [6074, 6088]}, {"key": "business-days", "type": "clause", "offset": [6105, 6118]}, {"key": "determination-of-the", "type": "clause", "offset": [6135, 6155]}, {"key": "seller-shall", "type": "clause", "offset": [6227, 6239]}, {"key": "reduction-in", "type": "definition", "offset": [6344, 6356]}, {"key": "payment-of", "type": "definition", "offset": [6628, 6638]}, {"key": "payment-by-check", "type": "clause", "offset": [6668, 6684]}, {"key": "respective-percentage", "type": "definition", "offset": [6693, 6714]}, {"key": "payable-to", "type": "definition", "offset": [6746, 6756]}, {"key": "applicable-percentages", "type": "definition", "offset": [6804, 6826]}], "hash": "aefc6a9e662cac32b7b941b6fc3f164f", "id": 3}, {"size": 11, "snippet": "(a) Notwithstanding anything herein to the contrary in no event will the aggregate consideration payable pursuant to this Article II to holders of Shares, Company RSUs and Company Stock Options be more than (or less than) (i) cash equal to the Equity Award Carveout Amount plus any cash payments from the exercise of Company Stock Options received by the Company between the date hereof and Closing and less any Dividend Equivalents paid in respect of Company RSUs between the date hereof and Closing Date (but not including any Dividend Equivalents paid on Company RSUs that vest as of the Effective Time), (ii) the Note Consideration and (iii) the Share Consideration.\n(b) On the date that is two (2) Business Days prior to Closing, the Company will deliver to Parent an updated Waterfall Schedule containing calculations of (i) the Per Share Closing Cash Consideration, (ii) the Per Share Closing Note Consideration, (iii) the Per Share Closing Share Consideration, (iv) the aggregate dollar amount of Dividend Equivalents that will be paid at Closing, (v) the Recapitalization Option Cash Consideration, (vi) the Recapitalization Option Note Consideration, (vii) the Recapitalization Option Share Consideration and, if any Optionholder does not deliver an Optionholder Acknowledgement to the Company, (vii) the Option Cash Consideration, the Option Note Consideration and the Option Share Consideration. The Company shall also deliver to Parent confirmation that the aggregate amounts payable at Closing pursuant to this Article II to the holders of Shares, Company RSUs and Company Stock Options equals the consideration referenced in Section 2.5(a), and in the event the Company is unable to deliver such confirmation, the Company shall reasonably adjust the calculations referenced in the prior sentence in order to allow it to deliver such confirmation to Parent.\n(c) The Company acknowledges and agrees that the Company is solely responsible for the calculation of the consideration referred to in this Article II, and that Parent shall have no responsibility or liability for any such calculation, other than to pay the amounts provided by the Company in Section 2.5(b) (which shall be no greater than the aggregate consideration referenced in Section 2.5(a).", "samples": [{"hash": "dMA7riIZayB", "uri": "/contracts/dMA7riIZayB#aggregate-consideration", "label": "Merger Agreement", "score": 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or exchanged in a transaction, typically in the context of mergers, acquisitions, or asset sales. This clause specifies what is included in the calculation of the total consideration, such as cash, stock, assumed liabilities, or other forms of payment, and may outline adjustments based on closing conditions or performance metrics. Its core practical function is to ensure both parties have a clear, agreed-upon understanding of the total compensation involved, thereby reducing the risk of disputes over payment terms or transaction value."}, "json": true, "cursor": ""}}