This excerpt taken from the STON 8-K filed Dec 7, 2007.
A. In accordance with that certain Asset Purchase and Sale Agreement, dated as of December 4, 2007 (the Purchase Agreement), Seller is selling the Business (as defined in the Purchase Agreement) and the assets associated therewith to Buyer.
B. Buyer has made application for all Permits required for the operation of the Business which Buyer anticipates receiving on or before the Closing Date. Exhibit A sets forth as of the date hereof the current status of applications for Permits at the Owned Locations and Managed Locations which comprise the Business (collectively the Locations). Buyer and Seller wish to make certain arrangements in the event Buyer does not obtain all of the Permits required to operate the Business and is unable to arrange for Interim Approval as hereinafter defined.
NOW, THEREFORE, in consideration of the covenants and agreements set forth in this Agreement, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, Buyer and Seller, intending to be legally bound, hereby agree as follows: