ASSET PURCHASE AGREEMENTAsset Purchase Agreement • November 3rd, 2016 • International Shipholding Corp • Deep sea foreign transportation of freight • New York
THIS ASSET PURCHASE AGREEMENT (this “Agreement”) is made and entered into effective as of this 28th day of October 2016 (the “Effective Date”), by and among INTERNATIONAL SHIPHOLDING CORPORATION, a Delaware corporation (“ISH”), LCI SHIPHOLDINGS, INC., GULF SOUTH SHIPPING PTE LTD., MARCO SHIPPING Company (PTE) LTD., N.W. JOHNSEN & CO., Inc. (collectively, the “Debtor Sellers”) and MPV NETHERLANDS C.V., MPV NETHERLANDS COÖPERATIEF U.A., and MPV NETHERLANDS V.B. (collectively, the “Non-Debtor Sellers” and collectively with Debtor Sellers, “Sellers”), and J LINE CORPORATION, a Marshall Islands corporation, or its assigns (“Buyer”).1 Buyer and Sellers may be referred to herein individually as a “Party” and collectively as the “Parties”. For purposes of this Agreement, the term “Affiliates” shall mean with respect to either Party hereto, any other company or legal entity which is controlled by, controls such Party, or is under common control of such Party, and the terms “control,” “controls,
