On July 21, or if Closing does not occur until July 21, , within twenty-one 21 days after the end of the quarter in which the Closing occurs, Buyer will provide reporting packages of the Company on a basis consistent with past practice for the period until Closing to the Seller. Sollte zum Zeitpunkt der Überprüfung dieser Verordnung bereits eine spezifische Unionsliste der Drittländer und -gebiete, die die internationalen Standards für verantwortungsvolles Handeln im Steuerbereich nicht einhalten, angenommen worden sein, sollte diese Unionsliste berücksichtigt werden und könnte künftig als Referenzliste der Drittländer dienen, in denen Verbriefungszweckgesellschaften nicht niedergelassen sein dürfen.
But this was a case where the nobility of the bride was recent: None of the related documentation seemed to the panel to establish a strong family custom against marriages with the nobility per se. This case, for which the reasons for the elevation of rank were not clearly known, was marked as of dubious value by the panel.
Ferdinand zur Lippe-Weissenfeld on Nov 23, with Gustave von Thermo, whose father was shortly before the marriage raised to a baron of the Empire with his whole descent. This alone instead of the usual elevation of the bride alone suggests that the elevation was not clearly linked to the marriage. Her father had been ennobled; she was made an imperial baroness shortly before the marriage.
This collection of cases, taken together, fails to prove the existence of a consistent norm making marriages with the lower nobility mismarriages. The Meinertshagen and Sobbe case show that an elevation of rank was perceived as necessary, but because the nobility of the bride was so recent.
As further evidence against such norms are statements from members of the family themselves, who on several occasions denied implicitly or explicitly such a norm: The ruling count Simon August sued in before the Reichskammergericht to deny to the issue of the Friesenhausen marriage dynastic status.
He based his arguments not on the fact that the marriage was with the lower nobility, but rather with a subject of the Lippe county subdita Lippiaca , and also that the elevation of rank of could not apply retroactively to children born before.
The Reichskammergericht ruled on Feb. In his letter to count Julius zur Lippe-Biesterfeld of May 10, the same prince declined a proposal to require comital or baronial rank for brides, because simple old nobility was just as good as titles that were so often based on usurpation. In his memorandum on the planned draft of a house law in , the minister von Oheimb stated that marriages with the simple, but old nobility were equal. Count Ernst's regency Prince Adolf proclaimed the end of his regency on July 10, and his minister publicized a telegram from the Emperor stating that "a better and more worthy lord and also lady Detmold will nevermore obtain".
Count Ernst assumed the regency on July The panel had not completely resolved the question: Nor did it say what should happen if the regent should die first. In the same year of , the government submitted a draft law to resolve the first question, declaring the order of succession to be the count-regent, his sons and brothers and their existing male-line issue and any issue to come from henceforth approved marriages, but the prince of Schaumburg objected and the Bundesrat asked the Lippe parliament not to pre-judge the dispute.
Then, on March 24, the Lippe parliament passed a law resolving instead the second question, that of succession to the regency: The prince of Schaumburg again objected to the Bundesrat on May Meanwhile the dispute took an unexpected and public turn. Count Ernst had obtained that the Prussian garrison in Lippe would give the same honors to his children as to himself and give them the same treatment of Erlaucht his father had received the treatment or predicate in from the reigning prince, but a request to have it recognized by Prussia was denied by the Prussian Ministry of State on June 8, ; then this was unilaterally withdrawn.
Instructions issued by commanding General were issued with my approval after he had inquired. To the Regent what is the Regent's due, nothing more. For the rest, I once for all will not have myself addressed in the tone in which you have thought fit to write to me. Count Ernst sent in November a memorial to the other German princes which was leaked to the press in November , and resulted in a general outcry, and strong pressures from other German rulers against the claims of Schaumburg-Lippe.
Finally, the Bundesrat decided on Jan. This expedient bought a few years' respite, but the issue came up on Sept. His son assumed the regency, but the German Emperor initially refused to recognize it, sending the following telegram the same day: As the legal situation has in nowise been cleared up I cannot recognize an assumption of the Regency on your part, and I also will not allow the military to take the oath. The telegram had delicate constitutional implications.
As it lacked the countersignature of a minister, its legal value was questionable. Moreover, while the Emperor had authority over military matters such as the oath, the wording of the telegram implied that his decision in the matter was not merely a consequence of the refusal to recognize the regency, but an independent and arbitrary decision.
This last point was papered over a few days later by an "authentic interpretation" provided by the imperial chancellor.
Count Leopold and the prince of Schaumburg-Lippe agreed on Nov. The imperial Chancellor took the occasion of this resolution to order the troops to take the oath of loyalty to the Regent, skillfully repairing the Emperor's faux-pas. In the meantime, prince Karl Alexander finally died on Jan 13, , and count Leopold continued to be regent.
The verdict This time, the only dispute came from Schaumburg-Lippe. Prince Georg argued that the line of Lippe-Biesterfeld was not entitled to succeed at the death of prince Alexander because the marriage of Ernst of Lippe-Biesterfeld with Modeste von Unruh was unequal, the marriage of the late count-regent Ernst in with Karoline von Wartensleben was unequal, the marriage of count Rudolf in with Luise von Ardeck was unequal and had been contracted without the consent of the sovereign, and the marriage of count Friedrich Wilhelm in with Gisela zu Isenburg-Büdingen in Meerholz was equal but contracted without consent.
The first claim was disposed of by appeal to the ruling of , which the tribunal considered binding on the parties, and although it only named the late count Ernst as entitled to succeed, it did so on the grounds that the marriage of with Modeste von Unruh conformed to the house laws, and thus the objection of descent from unequal marriage could not be raised against the descendants of that marriage.
As for the second claim, by the declaration of , the reigning prince attributed to himself the decision whether a marriage was equal or not; by consenting to the marriage of Ernst zur Lippe-Biesterfeld in , he was defining it as equal for the purposes of Lippe house laws.
The heads of the Biesterfeld and Weissenfeld lines had been aware of, and had effectively consented, to this attribution to the head of house. But the declaration was not officially communicated to the Schaumburg-Lippe line, and, although there is firm evidence that it was aware of it and that the prince of Schaumburg-Lippe had exchanged views on the subject of equal marriages with the prince of Lippe by , it is still arguable that silence on the part of the Schaumburg-Lippe agnates cannot be taken as acquiescence.
For this reason, the arbitration panel delved again into the question what standard of equality prevailed for marriages in the Lippe family, both in the 18th c. The prince of Schaumburg-Lippe argued, on the basis of the use of the term Lehens-Erben in various house laws of Lippe of the 16th and 17th c. But, although the pattern of marriages in the senior Lippe branch in the 18th c. Moreover, the evidence of the Friesenhausen case clearly indicated that contemporaries saw the marriage as equal even before the elevation of the spouse to the rank of baroness long after the marriage.
The panel thus endorsed the conclusions of the panel as far as the standard up to the early 19th c. It also concluded that nothing had changed in this respect after Concerning the third and fourth claims: Rudolf zur Lippe-Biesterfeld married on Nov. It is true that consent to this marriage was not given by the prince of Lippe, but neither was it sought. The reason is that, in on the occasion of another marriage, the prince of Lippe declined to give his consent and wrote on Oct.
This applied to the fourth claim. A similar statement was sent on Aug 19, to the head of the Lippe-Weissenfeld line. As for the equality of the marriage, the Lippe-Biesterfeld side pointed out that the marriage was considered equal in Hesse see details. The Schaumburg side argued that it violated the equality requirements in Hesse, but the panel decided that such requirements could be overruled by agreement of the agnates, and that until the marriage had been considered equal.
The change of name of to Ardeck did not alter the status of the issue of that marriage. The panel concluded that all living males of the Lippe-Biesterfeld line were able to succeed in Lippe.
The verdict was published on October 25, The next day, the count-regent now reigning prince received congratulations from the German Emperor, the Emperor of Austria, the king of Saxony, the regent of Bavaria, and prince Georg of Schaumburg-Lippe, his unsuccessful rival. Leopold IV abdicated on November 12, He had married twice, equally, to Bertha of Hesse-Philippsthal-Barchfeld d.
Ernst, Leopold, Chlodwig, and Armin. According to a post by W. In Arnim renounced in favor of Leopold Bernhard. At that time Ernst August began to assert his claims to the headship of the house.
The confusion increased when Leopold Bernhard resigned in favor of his eldest brother Ernst, the former hereditary prince, who declined. In , a family council chose as head of house the oldest living agnate, namely Simon Casimir. Ernst August attended the council and accepted the choice but later reneged. What happened after is unclear, but Arnim seems to be accepted as head of house by various sources, while Ernst August's son Friedrich Wilhelm had continued his father's claims.
Pactum unionis von Aus dem Archiv nach Piderit. Vorfahren Christ- und wohlsel. Graff- und Herrschafften Succession belangend transsumiren, und also seine G. Die Original-Urkunde von findet sich jetzt im Fürstl. Sie ist mit einem wohlerhaltenen Siegel versehen; übrigens an mehreren Stellen sehr beschädigt, an andern aber deutlich zu lesen, und stimmt in diesen genau mit der obigen Abschrift überein. Kaiserliche Bestätigung des Pacti unionis, von Kunig in Germanien etc.
Bekennen offentlich mit diesem brief vnd tun kundt allermeniglich. Wir Symon Edelman, Juncker zu der Lippe, Bekennen vnd gezeugen in disem offen brief für vnns vnd all vnnser Rechten Erben vnd für all vnnser Rechten nachkumen etc. Vnd hat vnns darauf die-muetiglichen angerueffen vnd gebeten, das wir des obangezaigten weilandt Symon Herrn zu der Lippen brief, auch den angeregten neuen Vertrag der mit wissen vnd willen der gemainen Landtschafft zu der Lippe mit den Lehen Herrn derselben Herrschaft Lipp gemacht vnd aufgericht sein soll, in allen seinen Clausein, puncten vnd begreiffungen, Zubestetten vnd zu confirmiren gnediglich geruehten.
Des ha-ben wir angesehen, solch sein diemuetig zimlich bete auch die getrewen willigen dienste so Er vnd seine vorfordem vnnsern vorfarn am Reich offt williglich gethan haben, vnd Er vnns vnd dem Reich in künftig Zeitt wol tun mag vnd sol. Vnd darumb mit wollbedachtem mute, gutem Rat vnd Rechten wissen die obangezeigten bede Vertreg, souuern die wie obsteet dermassen besehenen, vnd aufgericht sein, in alln vnd jechelichen Iren worten, puncten, Clausein, Artigeln, Innhaltungen, maynungen vnd begreiffungen, als Römischer Kayser gnediglich confirmiert vnd bestet, confirmiern vnd bestetten auch solchs alles von Römischer kayserlicher macht wissentlich in crafft ditz briefs, was wir von billichait vnd Rechts wegen daran zu confirmiern vnd zu bestetten haben sollen vnd mügen.
Vnd mainen, Setzen vnd wellen das der obgenannt Symon Herr zu der Lippe vnd sein nachuolger sich der obangetzaigten brief vnd vertrege auch dieser vnnser keyserlichen Confirmation vnd bestettung gebrauchen, vnd geniessen sollen vnd mügen, von allermeniglich vnuerhindert.
Doch vnns vnd dem Reiche an vnnsern vnd sunst meniglichem an seinem Rechten vnuergritfen vnd vnschedlich. Vnd gebieten darauf allen vnd yeden Churfürsten, Fürsten, geistlichen vnd weltlichen Prelaten, Grauen, Freyen, Herrn, Rittern, knechten, Haubtleuten, Vitztumben, Vögten, Pflegern, Verwesern, Amptleuten, Schulthaissen, Bürgermaistern, Richtern, Reten, Bürgern, gemainden, vnd sunst allen andern vnnsern vnd des Reichs vnderthanen vnd getrewen in was wirden states oder wesens die sein, ernstlich vnd vesstiglich mit diesem brief vnd wellen, das Sy den vorgenanten Symon Herrn zu der Lippe vnd sein Nachkumen, an den vorbestimbten briefen vnd vertregen nit Jeren, hindern noch beswern, sunder Sy wie vorsteet dabey beleiben, gerueblich gebrauchen vnd geniessen lassen vnd dawieder nit tun noch des jemants zutun gestatten, in kain weise, Als lieb einem yedem sey vnnser vnd des Reichs vngnad vnnd straff.
Mit vrkundt ditz briefs besiegelt mit vnnserm Kayserlichen anhangenden Innsiegel. Albertus Carlmannus archicancellarius mpp. Pro copia Wasserfall, Archivar. Kaiserliche Bestätigungen des Primogenitur-Rechts von und Jacob Kurz von Senfftenau. Wir Rudolff der Ander etc. Peter Henrich zu Strahlendorff.
Testament des Grafen Simon VI. Testament begriffen, mitt den gnedigen gesinnen, auch als ein gezeug dazu gefordertt Zubetzeu-gen, Vrkundtlich meines hiervnter auf-getruckten pitschirr vnnd eigene handt-schrifft. Ich Nicolaus Thodenus Mstr. Herr in meiner vnd beneuter Zeugen Jegenwartt am 30ten augusti Ao: Testament sey begriffen, mit dem gnedigen Gesinnen, solches zu vnterschreiben vnnd Zuversigelen, welches ich mit dieser meiner eigenen handt vnnd vntergedrückten pitschafft bezeuge.
Testament sey begriffenn, mitt dem gne-digenn gesinnen, solches zu subscribiren vndt Zuuersiegelnn, welches Ich dann mitt diesser meiner eigenenn handt-schrifft, vndt vnderdrucktenn angebor-nenn Ritterl. Bekenne Ich Alexander Grothe Licent: Testament des Grafen Philipp zu Schaumburg-Lippe von Wann aber sie alle ohne Leibes-Erben versterben, alsdann soll alles, was an dieselbe von Uns gekommen, auf Unsere Söhne und derselben männliche Leibeserben verstammen.
Unsere Land und Leute welche theils von dem Fürstl. Unsere vielgeehrte Herren Vettern und Gevattern und ersuchen Ihr. Und ist dieser Unser beständiger letzter Wille: Graffen Philips Vnzertrennt, Vnd Vnzertheilet seyn und bleiben solle. Graffen Philipps Vermög obigen mit obged. Mit Vhrkundt dieses Brieffs etc. Aus dem Lippischen Hausarchive. Dahingegen und solcher Uebertragung halber der benannten Intraden in den Aemtern Schwalenberg, Oldenburg etc.
Erben, jährlich und alle Jahr besonders die Summe von fünfzehntausend rthlr. Erben, und den andern dritten Theil an Herrn Grafen Ferdinand Johann Ludwig zur Lippe zu Weissenfeid und dessen Gräfliche Männliche Eheliche Erben in Louisd'or gegen behörige Quittungen an dem von beiden Seiten zu bestimmenden Ort bezahlet und gehoben werden können und sollen, gestalten ein zeitiger Land-Rent-Meister zu der stipulirt und versprochenen Quartal-Auszahlung durch einen unbedinglichen eidlichen Revers sich also anheischig machen, und ehe und bevor solches nicht gesehen, nicht ad-mittiret werden sollen; Wobei jedoch dem Herrn Grafen Friedrich Carl August, und Ferdinand Johann Ludwig vergönnet sein soll, unter den Cassa begebigen Silber-Münzen, zwei der annehmlichsten Sorten, welche alsdann nach der eidlichen Angabe des Land - Rent - Meisters sich in der Kasse befinden werden, zur Bezahlung sich jederzeit auszusuchen, und solches ein Vierteljahr vorher bekannt zu machen.
Erben ihren jährlichen und resp. Quartal Revenüen desto gesicherter sein mögen, so soll, wie oben gesagt, der zeitige Land-Rent-Meister zu der stipulirten Quartal - Auszahlung durch einen eidlichen Revers sich nicht nur anheischig machen, sondern es setzen auch zu mehrer Sicherheit der fünfzehntausend, rthlr: Wie es übrigens 5. Nachkommen den Rückfall der jährl. Damit nun beide contrahirende Theile der Festhaltung dieses Vergleichs desto mehr versichert sein mögen, so will der Regierende Graf Herr Simon August zur Lippe nicht nur solchen auf seine Kosten von Kaiserl.
Exceptionen, sonderlich der Restitution in integrum, laesionis ultra dimidium, astutae persuasionis, rei non sic, sed aliter gestae überhaupt aller Schutz und Hülfsmittel, wie die immer Namen haben und durch Menschen Sinn und Witz erdacht werden können, wissentlich und wohlbedächtig verzeihen, und begeben, sonder List und Gefährde. Zu wahrer Urkund dessen, sind von gegenwärtigem Vergleich 3 gleichlautende exemplaria verfertiget, von den Herrn Interessenten und dem Herrn Mediatore unterschrieben und vollzogen, jedem paciscirenden Gräflichen Theil auch ein Exemplar zugestellet worden.
So geschehen Detmold und Biesterfeld den 22ten und 24ten Mai Zu Urkund dessen ist dieses Namens der Stände von den deputatis ordinariis eigenhändig unterschrieben und besiegelt worden. So geschehen Detmold den 26ten Mai Sigmund Moritz von dem Brinke. Aus dem Lippischen Hausarchiv. Agnaten wider Dich klagbar vorgestellet, und derohalben, rechtlicher Ordnung nach, zu verfügen gehorsamst gebeten haben, solches wirst Du aus beigehender coreilichen Anlage de praesentato Wie Du nun diesem Allen die gehorsamste Folge geleistet, hierüber gewärtigen wir in Zeit zweyer Monate Deine allerunterthänigste Anzeige und verbleiben etc.
Aus dem gräflich Lippischen Hausarchiv. October ein Rescriptum Caesareum sine Clausula erhalten, vermög dessen nicht allein die mit gedachter Christine Elisabet Kellnerin eingegangene Ehe, als eine unebenbürtige Reichsgesetzwidrige Heyrath zufolge der kayserl.
Zuvörderst entsagen hierdurch und kraft dieses Graf Ludwig Heinrich zur Lippe-Biesterfeldt zur gehorsamlichen Nachlebung vorgedachten Allerhöchst kayserlichen Rescripts vom Descendentz und würklichen Grafen und Gräfinnen zukommen möchte, so wie solches zu rechten bestehen mag und kan. Nachdem nun aber durch die vorstehende Renunciation und das mehrgedachte Kaiserl. Rescript sämtlich gräflich Lippischen florirende Linien und derselben ebenbürtige Descendentz vor allen unstatthaften praetensionen und Eingriffen der succession des Herrn Grafen Ludwig Heinrichs zur Lippe mit Seiner jetzigen Frauen Christine Elisabet Kellnerin gesichert sind, so versprechen dagegen die mehrgedachte Herren Brüder und Frau Schwägerin zur Lippe Lbl.
Dafern aber gedachte Wittib Ihren Wittwenstand nicht continuiren und ohne habende Kinder zur 2ten Ehe schreiten solte, dan fält nach Billigkeit und Rechten die gantze Wittwen - Pension hinweg, so auch wenn die vorhandene Kinder unbeerbt während dieser zweiten Ehe Ihrer Mutter sterben solten, der Mutter gleichfalls nicht die Pension der Kinder accrescirt, sondern der Lippischen Familie pro rata jedes Contribuenten wieder zufällt.
Revenuen käme, die vorerwehnte Pension oder alimenten auf Thlr. Was nun aber die Pension Erhöhung bey antretender Landes-Regierung betrifft, so in diesem articel bestimmt ist, übemimbt jedermal die regierende Linie solche selbst, ohne Nachtheil und Verkürtzung der übrigen Agnaten.
So übernimbt auch nach Vorschrift und Inhalt des mehr angezogenen Allerhöchst Kayserlichen Rescripts vom Reichshofrath verursachte Kosten schuldigst zu ersetzen. Reichs - Hofrath desfals anhängigen Proces, bey gräflichen wahren Worten, Treu und Glauben, Derowegen auch von beyden Theilen davon die allerunthänigste Anzeige bey dem kayserl. Reichs-Hofrath alsbalden zu machen ist, des zu Urkund ist dieser Reces Siebenmahl ausgefertiget und von allen Interessenten jedes Exemplar unterschrieben und besiegelt worden.
Fürstliche Deklaration vom Der Consens wird nur dann erteilt werden. Verfassungsgesetz für das Fürstentum Schaumburg-Lippe vom See also the text of the earlier constitution. Seller has been duly established and is validly existing as a limited liability company Gesellschaft mit beschränkter Haftung under the laws of Germany.
Seller has the unrestricted right, power, authority and capacity to execute and consummate this Agreement and the other Transaction Documents and the transactions contemplated herein and therein. All required approvals of any corporate bodies of Seller have been given.
No further Approvals; No Breach. The execution and performance of this Agreement and the other Transaction Documents i require no approval or consent or waiver to be obtained neither by Seller nor by any of the Group Entities from any Governmental Authority or third party and no notice or filing by Seller or a Group Entity to any such authority or third party is required in connection with such execution or performance , ii do not violate any applicable law or any decision by any court or other Governmental Authority binding on Seller or any of the Group Entities, and iii do not constitute a breach or trigger an acceleration right or other disadvantage under any agreement or constitutional document by which Seller or any Group Entity is bound.
There is no action, suit, investigation or other proceeding pending or threatened against or affecting Seller or any Group Entity before any court or arbitrator or other Governmental Authority which in any manner challenges or seeks to prevent, enjoin, alter or materially delay the execution or consummation of this Agreement or the other Transaction Documents or the transactions contemplated herein or therein.
No insolvency or similar proceedings have been, or have been threatened to be, opened over the assets of Seller or applied for, and there are no circumstances that would require or justify the opening of or application for such proceedings.
Seller is neither illiquid zahlungsunfähig nor over-indebted überschuldet. No circumstances relating to the sphere of Seller exist according to any applicable bankruptcy, insolvency or other laws which would justify the avoidance Insolvenzanfechtung of this Agreement or the other Transaction Documents and the transactions contemplated hereunder and thereunder.
Legal, Valid and Binding Obligations. Status of the Group Entities. The information in Background A and B and in Sections 2. Each Group Entity has the unrestricted right, power, authority and capacity to own its assets and to conduct its business as conducted. No insolvency, bankruptcy, reorganization, liquidation, or similar proceedings have been, or have been threatened to be, opened or applied for over the assets of any Group Entity and there are no circumstances that would require the opening of or application for such proceedings.
No Group Entity has entered into any moratorium agreement or similar agreement with its creditors. Euro two hundred thousand. For the avoidance of doubt, the Buyer is aware that the Company has been funded on a day-to-day basis through the Cash Pool Agreement and requires a replacement of such funding after Closing.
Other than the Equity Interests referred to in Section 2. AktG, silent partnership agreements stille Beteiligungsverträge or any similar or equivalent agreement under the laws of any jurisdiction. Except for the Share and except for the Subsidiary Interests, no Person holds direct or indirect participations or interests of whatever kind in or options, warrants or other convertible securities with respect to any of the Group Entities, and there are no other claims of third parties with respect to such participations.
As of the Signing Date, the documents attached as Exhibit 7. No resolutions or other statements to amend the Corporate Documents have been made, no side agreements thereto exist and no filings with any commercial register or with an equivalent corporate authority in respect of any Group Entity are pending. Shares and Subsidiary Interests and Shareholder Loans. Issuance of and Title to the Share and Subsidiary Interests. The Share and the Subsidiary Interests have been validly issued in compliance with applicable law.
Seller holds full and unrestricted legal and beneficial title of ownership uneingeschränkte rechtliche und wirtschaftliche Inhaberschaft to the Share, and the Company holds full and unrestricted legal and beneficial title of ownership to the Subsidiary Interests, all as set forth in Section 2.
The Share constitutes the entire issued share capital of the Company, and the Subsidiary Interests constitute the entire issued share capital of the Group Entities, all as set forth in Section 2.
There are no agreements which require the allotment, issue or transfer of any debentures in or securities of the Group Entities.
The Shares and the Subsidiary Interests and the Minority Interest are fully paid up and have not been repaid or returned. Seller has valid legal title to and is the sole and unrestricted legal and beneficial owner of the payment and other claims and ancillary and other rights, including claims for accrued and unpaid interest, under the Shareholder Loans. The payment and other claims and ancillary and other rights under the Shareholder Loans are free and clear of any third party rights, in particular not pledged verpfändet , attached gepfändet , or otherwise encumbered belastet with any third party rights and are not subject to any i trust arrangement Treuhandverhältnis , silent partnership stille Beteiligung , sub-participation Unterbeteiligung or similar arrangement or any restriction or obligation relating to the exercise of any rights thereunder; ii pending transfer or other disposition Verfügung ; or iii sale, contribution or other contractual arrangement creating an obligation to transfer or encumber including pre-emptive rights, rights of first refusal, options, subscription rights or rights of any Person to purchase or acquire.
No Pending Business Transactions. No Group Entity is a party to any agreement relating to the acquisition or sale of, or an economically equivalent transaction involving, any Interests in. Except for ordinary course of business claims i. The Seller has delivered to the Buyer before Signing this Agreement for the last two fiscal years ending on December 31, and on December 31, i complete copies of the consolidated financial statements of the Company consolidating the Company and the Group Entities each including a balance sheet Bilanz , profit and loss statement Gewinn- und Verlustrechnung , statement of cash-flows and for the last fiscal year including all necessary footnote disclosures in accordance with IFRS , ii except for W.
Except as set forth in Exhibit 7. In consideration of these principles, laws and standards, the Warranted Financial Statements present a true and fair view of the net assets, financial position, cash-flows and results of operations Vermögens-, Finanz- und Ertragslage of the relevant Group Entities or Group Entity as of and for the financial year ending on, December 31, respectively.
All books and records including, without limitation, accounting and tax records of the Group Entities have been properly kept in accordance with applicable law. Such books and records are in the unrestricted possession of the Group Entities.
Conduct of Business since December 31, Euro two million ;. Euro two million in the aggregate;. Euro one million for the conduct of business which they do not own or do not have valid leasehold interests or licenses in or other contractual rights of use in.
Directors; Officers; Material Employees. Euro one hundred-fifty thousand or more and their respective employment or service agreements.
As of the Signing Date, no notice of termination of the employment of any senior vice presidents or managing directors Geschäftsführer has been given. Such list correctly states the legal basis for the Employee Benefits and the nature of the respective agreements or other commitments. Euro one hundred thousand or more in and provide for termination periods longer than six months; and.
Euro two hundred-fifty thousand or more in All Material Agreements are in full force and effect at the date hereof and, except as disclosed in Exhibit 7. As of the date hereof, no notice of termination in text form has been given with respect to any Material Agreement. T he Group Entities have neither directly nor indirectly acquired land in Orlando, Florida nor entered into contractual or incurred any other obligations thereto which have not been settled at the latest one day prior to Closing.
As of the Signing Date, Exhibit 7. Except as shown in Exhibit 7. All documents and instruments necessary to perfect the rights of Group Entities in the Registered IP Rights have been validly executed, delivered, and filed in a timely manner with the appropriate authority and are properly maintained.
As of the date hereof, no notice of termination has been given in text form with respect to the Licensed IP Rights. As of the Signing Date, the Registered IP Rights have not been challenged angegriffen by any Person and no such challenge has been threatened in writing. None of the Registered IP Rights is subject to any pending judgment, injunction, order or decree issued against Seller or a Group Entity restricting the use thereof by it or restricting the licensing thereof by it to any Person.
Except as disclosed in Exhibit 7. There is no pending claim or demand from any of the Group Entities against any Person asserting that such Person infringes, violates or uses in an unauthorized manner any of the Registered IP Rights or any exclusively Licensed IP Rights of the Group Entities. Rights of Employees; Employee Invention Act. The Company has duly complied with, to the extent required by law, contract or otherwise, the provisions of the German Act on Employee Inventions Arbeitnehmererfindungsgesetz.
Litigation; Criminal Proceedings; Investigations. No Permit or certification will expire or be suspended as a result of the transactions contemplated by this Agreement. No Group Entity has received notice from any Governmental Authority or other Person alleging noncompliance with or liability or potential liability under any of the foregoing or requesting information in respect thereof and no order of any Governmental Authority has been issued and is currently in effect, and in the past three 3 years where still relevant , no penalty or fine has been assessed, involving any Group Entity relating to or arising out of any EHS Laws.
In particular, no Group Entity has received notice from any Governmental Authority that an investigation enquiry or proceeding is present, planned or threatened. This warranty does not apply in situations when the Group Entities have not violated its obligations under FDA, CE or other safety regulations. All insurance premiums due thereon have been paid in full when due. As of the Signing Date, no notice of cancellation or termination of any insurance policy has been issued or received by any Group Entity.
Euro fifty thousand made by the Group Entities. There are or were during such period no claims by any Group Entity pending under any of such policies as to which coverage has been questioned, denied or disputed by the insurer.
The Group Entities have withheld and paid when due all Taxes required to have been withheld and paid;. Neither the Seller nor the persons listed in Exhibit 7. The Group Entities are managed by the managing directors and any knowledge of the Seller is only based on inquiry with the managing directors. The Seller has performed an inquiry with the Knowledgeholders prior to the Signing Date, as documented in Exhibit 7.
The Parties agree that this inquiry is deemed as due and sufficient inquiry in the sense of this agreement and no further inquiry of the Seller is necessary or required under this agreement. Buyer acknowledges that it does not rely upon any express or implied warranties of any nature made by Seller or on behalf of Seller and that solely the provisions expressly set forth in this Agreement shall govern its contractual relationship with Seller.
Buyer shall only be entitled to claim Losses and Expenses incurred by Buyer or the Group Entities in money according to the provisions of this Section 8. Any claim for specific performance is excluded. There shall be no double-counting of any Losses and Expenses.
Calculation and Mitigation of Damages. The legal principles as to the calculation of damages, mitigation of damages and offsetting of losses by advantages due to the damaging event Schadensberechnung, Schadensminderung, Vorteilsausgleich pursuant to sections et seq. BGB shall apply to all claims of Buyer under or in connection with this Agreement. In the event that an assignment of such claims should not be possible for legal reasons, Buyer shall procure that Seller be put in a position as if such an assignment had been effected.
All legal remedies other than those specified in this Section 8 above in relation to a Breach are hereby excluded. No claim of the Buyer under any provision of this Agreement other than one in respect of a Breach originäre Vertragsansprüche is intended to be limited or excluded by the terms of this Section.
The provisions of this Section are subject to Section Third Party Claim s. Subject to the provisions of this Section 8. Buyer shall take, and shall procure that the Group Entities take, such action as Seller may reasonably request, taking into. The Buyer will keep the Seller informed of the progress of such dispute and will consult with the Seller in relation to the Third Party Claim.
The Buyer shall not make, and shall procure that the relevant Group Entity does not make, any concession or acknowledgement of liability or admission of fact or any agreement, settlement or compromise in relation to the Third Party Claim, in each case without obtaining the Seller's prior consent, which the Seller will not unreasonably withhold delayed or conditioned taking into consideration the Buyer's legitimate interests.
A failure of Buyer to comply with its obligations pursuant to this Section 8. Seller shall in any event only be liable in respect of a claim of Buyer pursuant to Section 8 in connection with Section Exempted Claims shall be limited to the Aggregate Final Purchase Price, whether made on their own or in connection with other claims.
The Warranty Cap shall not apply to Exempted Claims. The Overall Cap shall not apply to Exempted Claims. Definition of Exempted Claims. Seller shall be under no liability in respect of any claim under Section 8 in connection with Section 7 if the facts or circumstances giving rise thereto either. Claims against the Seller out of or in connection with this Agreement shall become time-barred verjährt as follows: Section BGB shall not apply.
The above time limitations shall be suspended pursuant to the statutory law provisions. Buyer represents and warrants in the form of an independent guarantee selbständiges Garantieversprechen according to section BGB the following as of the Signing Date and as of the Closing Date.
Buyer has been duly incorporated and is validly existing as a company under the laws of Germany. Buyer has the unrestricted right, power, authority and capacity to execute and consummate this Agreement and the transactions contemplated therein.
All required approvals of any corporate bodies of Buyer have been given. No insolvency or similar proceedings have been, or have been threatened to be, opened over the assets of Buyer, and there are no circumstances which would require or justify the opening of or application for such proceedings. Buyer is neither illiquid zahlungsunfähig nor over-indebted überschuldet.
Legal, Valid and Binding Obligation. This Agreement constitutes and all other documents executed by Buyer under or in connection with this Agreement will, when executed, constitute legal, valid and binding obligations of Buyer enforceable in accordance with their terms.
The execution and consummation of this Agreement and of the transactions contemplated therein by Buyer do not violate the articles of association, partnership agreement or other corporate documents, as the case may be, or any other legal obligations. There is no action, suit, investigation or other proceeding pending or threatened against or affecting Buyer before any court, arbitrator, governmental body, agency or official which in any manner challenges or seeks to prevent, enjoin, alter or materially delay the execution or consummation of this Agreement or the transactions contemplated therein, and there are no circumstances likely to give rise to any of the foregoing.
In the event that Buyer is in breach of any warranty in Section The limitation period for any claims of Seller shall be twenty-four 24 months beginning as of the Closing. The limitation period for performance claims Erfüllungsansprüche shall be in line with statutory law. Subject to the provisions of this Section The Seller shall procure the Group Entities to prepare and timely file all tax returns Steuererklärungen with respect to the Group Entities that are required to be filed prior to the Closing Date in accordance with past practice and applicable laws.
After the Closing Date, Buyer shall procure that the tax returns Steuererklärungen of the Group Entities, including any amendments thereto, for any period up to or including the Effective Date will be duly prepared and filed by the Group Entities. Buyer shall procure that at least eight 8 weeks prior to the filing, Seller is provided with drafts thereof excluding any monthly tax returns monatliche Steueranmeldungen and all relevant documents and other. Buyer shall procure that the tax returns filed by the Group Entities will include all modifications reasonably requested by Seller in writing within four 4 weeks after Seller has been provided with the draft tax returns and the documents and other information requested for the review, provided that the modifications do not and are not likely to affect material business interests of Buyer or the Group Entities and unless the modifications violate applicable law.
Buyer will provide Seller with updated drafts accordingly. Tax Assessments and Tax Audits. Buyer shall procure that Seller is informed in a timely manner of all tax assessments Steuerbescheide and announcements of tax audits Betriebsprüfungen which may give rise to a claim of Buyer under Section The notification shall be made in writing or by e-mail and shall contain a brief summary of such factual information which is reasonably available describing the object of the tax assessments or the announcements of tax audits and shall include copies of any assessment notice or other document received from any Tax Authority.
If and to the extent that tax audits of the Group Entities relate to Taxes for which Seller may be liable under Section Seller shall be given the opportunity to participate in the defence at its own expense with its own counsel. No concession shall be made by Buyer or the Group Entities, and no claim for Taxes shall be acknowledged or settled, without the prior written consent of Seller, which consent shall not be unreasonably withheld, delayed or conditioned, and in any event deemed given if the Buyer is not provided with an answer within ten 10 Business Days after having provided Seller with a written and reasonably detailed request for the respective consent.
Exclusions and Limitations of Liability. Buyer shall not have a claim under Section Any claims of Buyer under Section Seller shall be entitled to all refunds of Taxes received in cash or cash-equivalent including by way of a set-off or credit against a liability by the Group Entities to the extent attributable to any period ending on or prior to the Effective Date or portions thereof, except i where the respective claims for refunds of Taxes have been accounted for as an asset in the Effective Date Financial Statements and have increased the Final Share Purchase Price or ii to the extent such refunds have reduced an otherwise payable indemnity amount or claim provided for under this Agreement.
Period between Signing and Closing. Until the Closing Date, Seller shall procure that none of the following actions are taken by or occur with respect to any Group Entity, without the prior written consent of Buyer:. Seller shall ensure that until the Closing Date the Group Entities shall conduct their business in the ordinary course of business in a manner consistent with past practice and with the care of a prudent business man.
Seller shall ensure further that without the prior consent of Buyer which consent shall not be unreasonably withheld, delayed or conditioned and which consent shall be deemed to be given by Buyer unless Buyer objects in writing within ten 10 days of receipt of a written notification , none of the following actions shall be taken by or occur with respect to any Group Entity and that no Group Entity shall:. Euro two million in the aggregate unless provided for in the business plan for the fiscal year ;.
Period between Effective Date and Closing. To the extent reasonably required by Buyer to fulfill the Closing Condition and perform the Closing Actions or to monitor compliance by Seller with its obligations under this Agreement, Seller shall procure that from the date of this Agreement, the Group Entities will provide to Buyer and its professional advisers reasonable access during normal business hours to their properties, books, other records, management and employees and furnish to Buyer such documents and other information that Buyer reasonably requests.
On July 21, or if Closing does not occur until July 21, , within twenty-one 21 days after the end of the quarter in which the Closing occurs, Buyer will provide reporting packages of the Company on a basis consistent with past practice for the period until Closing to the Seller.
Period after Closing — Waiver. Period after Closing — Information. Buyer is aware of the fact, that Seller is involved in ongoing appraisal processes initiated by former shareholders Spruchverfahren.
The Seller hereby undertakes to indemnify and hold the Company and the Purchaser harmless from and against any Losses and Expenses resulting from, under or in connection with the acquisition of all shares in Lumera Laser Asia Ltd. The Seller hereby undertakes to indemnify and hold the Company and the Purchaser harmless from and against any Losses and Expenses resulting from, under or in connection with the former legal dispute with Dr.
Karl-Heinz Schönborn and any further claims Dr. The indemnification obligation set out in this Section For a period of three 3 years from the Closing Date, Buyer shall refrain from:. The rights of the Parties under this Agreement notwithstanding, from the Closing onwards Seller and Buyer shall cooperate, and shall procure that their Affiliates cooperate, with reasonable efforts to provide for a smooth and expedient transition of the Group Entities to Buyer.
The Company shall have the right to accept such transfer within six 6 months after the date hereof. Termination of Other Relationships. The Parties undertake to treat all Confidential Information strictly confidential and to refrain from disclosing it to any third parties, unless such Confidential Information is or has been.
Disclosures to Other Recipients. Any violation by a Party or by an Other Recipient of the foregoing provisions shall entitle the disclosing Party, as its option, to obtain injunctive relief. The Parties undertake that without the written consent of the other Parties neither Party shall make any public announcement regarding this Agreement, unless required by applicable law or stock exchange regulations applicable to the respective Party.
At least five 5 Business Days prior to any permitted announcement the Party wishing to make the announcement shall notify the other Parties thereof in writing, provide to the other Parties the proposed wording and take any requests of the other Parties into due consideration. Any press release regarding this Agreement and the transactions contemplated hereunder shall be agreed between the Parties in good faith. The obligations of the Parties under Section 17 shall terminate on the fifth 5 th anniversary of the Closing Date.
The Guarantor makes to the Seller an independent promise of guarantee selbständiges Garantieversprechen pursuant to section para. All notices and other communications hereunder shall be made in writing and shall be sent by email, telefax, mail or courier to the following addresses:. If to Seller, to:. If to Buyer or to the Guarantor, to:. All costs, including fees, expenses and charges, incurred in connection with the preparation, negotiation, execution and consummation of this Agreement or the transactions contemplated herein, including, without limitation, the fees and expenses of professional advisers, shall be borne by the Party having commissioned such costs.
The fees for the notarial recording of this Agreement as well as the costs for the audit of the consolidated financial statements of the Company for the fiscal year prepared in accordance with IFRS shall be borne by Buyer. Any real estate transfer taxes resulting from the execution and consummation of this Agreement shall be borne by the Buyer. All Exhibits to this Agreement shall be an integral part of this Agreement.
In the case of a conflict between any Exhibit and the provisions of this Agreement, the provisions of this Agreement shall prevail. This Agreement together with the other Transaction Documents comprises the entire agreement between the Parties concerning its subject matter and shall supersede all prior agreements, oral and written declarations of intent and other legal arrangements whether binding or non-binding made by the Parties in respect thereof.
Fraud or Intentional Acts. Nothing in this Agreement shall be read or construed as excluding any liability or remedy in respect of fraud arglistige Täuschung or intentional acts Vorsatz. Any amendments to this Agreement including amendments to this Section The headings in this Agreement are inserted for convenience only and shall not affect the interpretation of this Agreement.
All words used in this Agreement shall be construed to be of such gender or number as the circumstances require. Where this Agreement provides that a Party shall cause, procure or ensure a certain action or situation, such Party shall be strictly liable, without regard to negligence or other fault, for any losses of the other Party resulting from the fact that such action or situation is not brought about verschuldensunabhängige Erfolgshaftung.
Wherever this Agreement refers to a contract or other agreement, such reference shall apply to and include all ancillary agreements, arrangements, amendments, side letters, waivers and other legally binding statements, if any, related thereto. Without the written consent of the other Party, no Party shall be entitled to assign any rights or claims under this Agreement to any third party. Except as otherwise provided in this Agreement, Buyer shall be entitled to set off aufrechnen or net off verrechnen against any claims of any other Party under or in connection with this Agreement or to exercise any right of retention Zurückbehaltungsrecht , unless the claims to be set-off or net-off by such Party have been acknowledged in writing or confirmed by a final decision of a court or arbitral tribunal.
No Third Party Rights. This Agreement shall not grant any rights to, and is not intended to operate for, the benefit of any third parties, including any Group Entity kein echter Vertrag zugunsten Dritter , unless explicitly state otherwise. This Agreement shall be governed by, and construed in accordance with, the laws of the Federal Republic of Germany, without regard to principles of conflicts of laws.
All disputes arising under or in connection with this Agreement or its validity shall be finally settled by three arbitrators in accordance with the Arbitration Rules of the German Institution of Arbitration e.
DIS without recourse to the ordinary courts of law. The venue of the arbitration shall be Munich.