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| RELV > SEC Filings for RELV > Form 8-K on 3-Sep-2009 | All Recent SEC Filings |
3-Sep-2009
Entry into a Material Definitive Agreement, Creation of a Direct Financia
On August 31, 2009, the Registrant entered into a Purchase Agreement ("Agreement") with Michael G. Williams and Julie T. Williams to purchase their independent Reliv distributorship for $2,060,000, of which $500,000 was paid at closing, $216,118.90, the principal balance of the Registrant's outstanding loan to the Williams, was applied against the purchase price, and $1,343,881.10, the remaining balance of the purchase price, is to be paid by the Registrant in equal monthly installments of $18,994.29 for a period of seven years carrying an annual interest rate of 5%.
The transaction and Agreement were authorized and approved by the Board of Directors of the Registrant on August 27, 2009.
A copy of the Agreement is filed herewith as Exhibit 10.1.
See Item 1.01 above.
(c) Exhibits
The exhibits to this Current Report are listed in the Exhibit Index set forth elsewhere herein.
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