They do not necessarily represent actual transactions.
The purpose of the merger was to simplify corporate structure. The Company Doughties foods inc not experienced any unusual difficulty in complying with such regulations.
Opinion of Seller's Counsel. Employees As of December 26,the Company had approximately employees. From and after the date of this Agreement and until the Closing Date, Seller covenants and agrees that it will: Whenever a representation or warranty is made herein as being "to the best of knowledge," "to Doughties foods inc knowledge of," or "known" to a party, it is understood and agreed that an individual will be deemed to have "knowledge" of a particular fact or other matter if: By inflating his monthly inventory balance, Nashwinter lowered his division's cost of goods sold and thus increased its gross profit.
Trademark License Agreement dated as of April 14,between the Company and Coddle, pursuant to which the Company granted a license to Coddle to use the Company's Doughties foods inc Doughtie's trademark in connection with the manufacture and sale of certain delicatessen-style meat products incorporated by reference to Exhibit 10 h 3 to the Company's Annual Report on Form K for the year ended December 27, An adjacent acre farm is also owned by the Subsidiary.
The execution and delivery of this Agreement and the performance by Seller of its obligations hereunder have been duly authorized by all requisite corporate action, and no further action or approval is required in order to permit Seller to consummate the transactions contemplated by this Agreement.
Use its best efforts to prevent the occurrence of any change or event that would prevent any of the representations and warranties of Seller contained herein from being true in all material respects at and as of the Closing Date with the same effect as though such representations and warranties in the exact language contained in this Agreement with appropriate modification of tense Doughties foods inc the case of representations and warranties relating to statements of fact as of specific dates had been made at and as of the Closing Date.
Execute and deliver to Seller the promissory note described in Section 2. Although the Company has never experienced a fuel shortage, its operations could be adversely affected if sufficient quantities of diesel or other fuels could not be obtained due to shortages or for other reasons.
Liquidity The Company uses a number of liquidity indicators for internal evaluation purposes. Take all such other steps as may be necessary or appropriate to put Buyer in actual and complete ownership and possession of the Purchased Assets. No gain or loss was recognized as a result of this sales transaction.
Payment for any Raw Materials items will be due in cash upon delivery of such items, and title to such items will transfer to Buyer upon payment and delivery.
Doughtie was assisted in the daily packaging process by hard-working family members so he could then take to the road selling the finished product. The SEC subsequently criticized Wilson and Pollard for their roles in those audits, particularly for their failure to rigorously audit Doughtie's inventory account.
There were no significant price changes in In the event of termination and abandonment of this Agreement pursuant to the provisions of Section The young manager began fabricating fictitious inventory on his monthly performance reports to headquarters.
Notwithstanding the preceding sentence, failure of the Indemnified Party to give notice hereunder shall not release the Indemnifying Party from its obligations under this Article X, except to the extent the Indemnified Party is actually prejudiced by such failure to give notice.
While the Company is querying major suppliers and customers regarding their readiness for the YearManagement cannot guarantee the accuracy of the representations. Seller has full power, authority and legal right to enter into this Agreement and to consummate the transactions contemplated hereby.
The Portsmouth facility is subject to open air burning restrictions which require refuse to be hauled off the premises rather than burned. Cothran to assign their rights under this Agreement to a yet-to-be-formed a corporation. The Buyer acknowledges that, in reliance on the foregoing, the transactions contemplated hereby have not been registered under any federal or state securities laws.
Over the next 10 years, Doughtie's experienced great change with the purchase of Portsmouth Frozen Foods and the construction of a new facility located on Wesley Street in Portsmouth.
This lease expires in February Execute and deliver to Seller the Lease Agreement. No Material Adverse Changes. The Company relies on the computer systems of third party suppliers and customers.
These increases were offset by a reduction in sales caused by the sales of the Company 's manufacturing operations. To Seller's knowledge, Seller is neither subject to nor in default of any continuing court or Agency order, writ, injunction or decree, applicable to the Purchased Assets or the Business.
All Encumbrances on the Purchased Assets other than any imposed or permitted by lenders to Buyer shall have been released. Negative Covenants Regarding Conduct of Business. During reasonable business hours, afford to the officers, attorneys, accountants, and other authorized representatives of Buyer, free and full access to the Purchased Assets and the Business, in order that Buyer may have full opportunity to make a reasonable investigation with respect to the Purchased Assets, the Business, the contracts, leases, arrangements and commitments listed in Schedule 4.
Doughtie's Foods, Inc. is a Virginia Domestic Corporation filed on November 16, The company's filing status is listed as 20 Merged and its File Number is Founded: Nov 16, The following is an excerpt from a K/A SEC Filing, filed by DOUGHTIES FOODS INC on 5/25/ The following is an excerpt from a K SEC Filing, filed by DOUGHTIES FOODS INC on 3/27/ In Maythe board of directors of Doughtie's Foods, Inc., agreed to sell the company to Sysco Corporation.
The merger was completed on August 27, InBob Doughtie's family retained the trademark and reintroduced the brand to the Southeastern.
and was acquired by SYSCO Corporation on August 29, The company distributes a full line of institutional food products to approximately 1, customers in Virginia, Maryland, North Carolina, and Delaware, generating over $87 million dollars in annual sales.Doughties foods inc