SHARE PURCHASE AGREEMENT
THIS SHARE PURCHASE AGREEMENT (the “Agreement”) made and entered into this 1st day of June, 2021 (the “Execution Date”), to be effective as of June 1, 2021.
Sardar Nadeem Khan, 4730 W Dunnellon Rd, Dunnellon, FL 34433
OF THE FIRST PART
Sardar Noman Khan of 1160 Brickhouse Ln., Lexington, KY 40509
OF THE SECOND PART
- The Seller is the owner of record of 50 Class A Voting shares (the “Shares”) of Bluegrass Composites, LLC. (the “Member”).
- The Seller desires to sell the Shares to the Purchaser and the Purchaser desires to purchase the Shares from the Seller.
IN CONSIDERATION OF and as a condition of the parties entering into this Agreement and other valuable consideration, the receipt and sufficiency of which consideration is acknowledged, the parties to this Agreement agree as follows:
Purchase and Sale
- Except as otherwise provided in this Agreement, all monetary amounts referred to in this Agreement are in USD (US Dollars).
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- The Seller agrees to sell and the Purchaser agrees to purchase all the rights, title, interest, and property of the Seller in the Shares for an aggregate purchase price of $4000.00 (the “Purchase Price”).
- A fixed sum of $4000.00 will be payable on closing of this Agreement.
- All payments will be in the form of personal check, certified check, wire transfer, or bank draft of immediately available funds. In the case of a direct wire transfer the Seller will give notice to the Purchaser of the bank account particulars at least 5 business days prior to the Closing Date.
Representations and Warranties of the Seller
5. The Seller warrants and represents to the Purchaser as follows:
- Bluegrass Composites, LLC. is a corporation duly formed and organized under the laws of FLORIDA.
- Bluegrass Composites, LLC. is in good standing under the laws of FLORIDA and requires action by the Purchaser to achieve compliance.
- The Seller would not be recognized as an issuer, insider, affiliate, or associate of the
Corporation as defined or recognized under applicable securities laws and regulations.
- Except as provided in the incorporating documents of the Corporation or as indicated on the face of the certificates for the Shares, the Purchaser would not be prevented or restricted in any way from re-selling the Shares in the future.
- The Seller is the owner in clear title of the Shares and the Shares are free of any lien, encumbrance, security interests, charges, mortgages, pledges, or adverse claim or other restriction that would prevent the transfer of clear title to the Purchaser.
- The Seller is the sole beneficial, legal, and record owner of the shares.
- The Seller is not bound by any agreement that would prevent any transactions connected with this Agreement.
- There is no legal action or suit pending against any party, to the knowledge of the Seller, that would materially affect this Agreement.
Representations and Warranties of the Purchaser
6. The Purchaser warrants and represents to the Seller as follows:
- The Purchaser would not be recognized as an issuer, insider, affiliate, or associate of the Corporation as defined or recognized under applicable securities laws and regulations.
- The Purchaser is not bound by any agreement that would prevent any transactions connected with this Agreement.
- There is no legal action or suit pending against any party, to the knowledge of the Purchaser, that would materially affect this Agreement.
- The closing of the purchase and sale of the Shares (the “Closing”) will take place on June 1, 2021 (the “Closing Date”) at the offices of the Seller or at such other time and place as the Seller and the Purchaser mutually agree. At Closing and upon the Purchaser paying the Purchase Price in full to the Seller, the Seller will deliver to the Purchaser any documentation the Seller reasonably requires to process the transfer of the Shares to the Purchaser..
- Each respective Party will pay all expenses and fees of their or its legal counsel, accountants, and other agents and advisers incurred pursuant to this Agreement regardless of whether the transactions contemplated in this Agreement are consummated.
- No party to this Agreement will pay any type of finder’s fee to any other party to this Agreement or to any other individual in connection to this Agreement.
- All parties to this Agreement warrant and represent that no investment banker or broker or other intermediary has facilitated the transaction contemplated by this Agreement and is entitled to a fee or commission in connection with said transaction. All parties to this Agreement indemnify and hold harmless all other parties to this Agreement in connection with any claims for brokerage fees or other commissions that may be made by any party pertaining to this Agreement.
- Any dividends earned by the Shares and payable before the Closing of this Agreement will belong to the Seller, and any dividends earned by the Shares and payable after the Closing of this Agreement will belong to the Purchaser.
- Any rights to vote attached to the Shares will belong to the Seller before the Closing and will belong to the Purchaser after the Closing.
13. This Agreement is entered under the laws of Florida. This Share Purchase Agreement and the interpretation of the terms herein shall be governed by and construed in accordance with the laws of the State of FLORIDA.
The Purchaser and the Seller irrevocably submit to the jurisdiction of the courts of the Commonwealth of Kentucky for the enforcement of this Agreement or any arbitration award or decision arising from this Agreement.
14. The Purchaser and the Seller each hereby agree to defend, indemnify, and hold harmless the other from and against any claim, damage, liability, loss, cost or expense (including reasonable attorney’s fees) arising directly or indirectly out of:
- Any failure to perform obligations set forth in this Agreement;
- Any inaccuracy or breach of any representations or warranties made in this Agreement, and any and all actions, suits, litigation, arbitration, proceedings, investigations, claims or liabilities of whatever nature arising out of any of the foregoing.
15. As further consideration, Purchaser is assuming all debts of Seller related to Sardar Nadeem Khan.
- Time is of the essence in this Agreement.
- This Agreement may be executed in counterparts. Facsimile and electronic signatures are binding and are considered to be original signatures.
- All warranties and representations of the Seller and the Purchaser connected with this Agreement will survive the Closing.
- This Agreement will not be assigned either in whole or in part by any party to this Agreement without the written consent of the other party.
- Headings are inserted for the convenience of the parties only and are not to be considered when interpreting this Agreement. Words in the singular mean and include the plural and vice versa. Words in the masculine gender include the feminine gender and vice versa. Words in the neuter gender include the masculine gender and the feminine gender and vice versa.
- If any term, covenant, condition or provision of this Agreement is held by a court of competent jurisdiction to be invalid, void or unenforceable, it is the parties’ intent that such provision be reduced in scope by the court only to the extent deemed necessary by that court to render the provision reasonable and enforceable and the remainder of the provisions of this Agreement will in no way be affected, impaired or invalidated as a result.
- This Agreement contains the entire agreement between the parties. All negotiations and understandings have been included in this Agreement. Statements or representations which may have been made by any party to this Agreement in the negotiation stages of this Agreement may in some way be inconsistent with this final written Agreement. All such statements are declared to be of no value in this Agreement. Only the written terms of this Agreement will bind the parties.
- This Agreement and the terms and conditions contained in this Agreement apply to and are binding upon the Seller and the Purchaser and their respective successors, assigns, executors, administrators, beneficiaries, and representatives.
- Any notices or delivery required here will be deemed completed when hand-delivered, delivered by agent, or seven (7) days after being placed in the post, postage prepaid, to the parties at the addresses contained in this Agreement or as the parties may later designate in writing.
- All of the rights, remedies and benefits provided by this Agreement will be cumulative and will not be exclusive of any other such rights, remedies and benefits allowed by law.
IN WITNESS WHEREOF the Seller and Purchaser have duly affixed their signatures under hand and seal on this 1st day of June, 2021.
Sardar Nadeem Khan, Member (Seller)
_____________________________ Sardar Noman Khan (Purchaser)
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