Asset Purchase Agreement

We have been working on this Asset Purchase Agreement for a couple weeks now to buy the C license. I spoke to the guy from One Stop in Rochester, he gave me the number for a woman I thought owned it. She did not, she just worked with the man that owned it. I contacted that man and then his lawyer contacted me. Phew! Long chain of people just to get a copy of the contract.

I get the copy from the lawyer on Monday and a request to have it signed and sent back with $5,000 deposit by Friday. I review it and send some questions and revision requests on Tuesday. I hear nothing from them until I bother them again on Wednesday (the day I would have to have it in the mail).  They made one revision and ignored the rest of my questions. Needless to say,  we have not signed it. I sent it to our SLA (state liquor authority) consultant and she had more concerns about the timeline listed in the agreement. I expressed those concerns to the seller’s lawyer and he kinda breezed by my concerns and said he would send me an updated agreement and needs it back by Friday (which now it is Monday of the following week).  I got the next copy and sent it to our lawyer. I was done with this BS.

Rand took a look at it, called our SLA consultants and had revisions of his own.  He asked the seller’s lawyer for a word copy of the lease so he could show the changes he recommends and send it back and they wouldn’t send one. Rand sent him the corrections via e-mail and apparently they called him to complain.  The seller’s lawyer was upset that I had the agreement a couple weeks ago and sent along revisions  and now I was having my lawyer do it too. I explained the situation to Rand and how I wasn’t going to get him involved until this guy showed how sketchy he was. Rand got the same vibe from their short phone conversation too.

Anyway, right now the agreement is back with the seller’s lawyer to make changes that reflect the timeline of the license process. And to protect us if we can not get financing.

I am sure I will get an e-mail from them today asking for the signed agreement and $5,000 by Friday. Just seems to be a trend 😛

Cheers!

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2 thoughts on “Asset Purchase Agreement

  1. sounds really fishy to me!
    Better keep looking… You have trusted your gut through this whole process don’t give up on that now, just because you really want this C license, as I have said before God is leading you through this whole process and has been proving it to you time and again… if your gut is off on this particular C-license … GIVE IT UP! :-/

    Like

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