This excerpt taken from the SCSC 8-K filed Dec 14, 2007.
Item 1.01. Entry into a Material Definitive Agreement.
On December 13, 2007, ScanSource, Inc. (the Company), through its wholly owned subsidiary 4100 Quest, LLC, entered into an Agreement (the Agreement) with Kansas City Life Insurance Company (the Purchaser), to sell the developed land and a building located at 4100 Quest Way, Memphis, Tennessee. The sale price of the property, including all rights running with the land and the improvements on the land, is at the prevailing market price.
Closing is subject to customary terms and conditions, including the Purchasers satisfactory completion of inspection of the property within 40 days (the Inspection Period) and the approval of the purchase of the property from the Purchasers investment committee and executive committee prior to the end of the Inspection Period. Closing would occur on or before the later to occur of (i) 15 days after the end of the Inspection Period or (ii) 10 days after the Company vacates the property.
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.