Sale by Secured Creditor , Cadence Bank, N.A., as Secured Party under Article 9 Uniform Commercial Code including: all accounts; inventory; general intangibles, equipment; documents; all Government Contracts (subject to approval and novation process).
Sabre is a licensed manufacturer of ordnance including automatic weapons. It is a contractor for the United States government, Department of Defense and also engages in the manufacture and sale of semi- automatic weapons.
Sealed Bids: No later than 12:00 p.m., February 14, 2011
Bid Acceptance: 5:00 p.m., February 14, 2011 (Except Tie Breaker)
Winning Bid Payment Due in Full: 5:00 p.m. on or before February 17, 2011
Back up Bidders Notified by 5:00 p.m. February 14, 2011
(all times stated are central time)
Qualified Bidders Only: Bids will only be accepted from "persons" holding a current and valid machine gun manufacturer's licenses issued under the United States Federal firearms laws, including but not limited to, the National Firearms Act, as amended, 26 U.S.C. §§ 5801, et seq., the Gun Control Act of 1986, as amended, 18 U.S.C. §§ 921, et seq., 27 C.F.R. §§ 478, et seq., and 27 C.F.R. §§ 479, et seq.
$100,000 Deposit. Deposit will be required of each bidder. Deposit to be made by wire transfer to Cadence Bank, NA "Sabre Escrow" or Irrevocable Letter of Credit in favor of Cadence Bank, N.A. Deposit forfeited if bidder does not possess appropriate license or for successful bidder not closing. All other deposits will be returned February 18 by wire transfer.
Opportunity to continue business at existing location with equipment in place.
Sale of assets, "AS IS, WHERE IS." No representations or warranties of Secured Creditor including fitness for a particular purpose or merchantability. All sales are final.
Secured Creditor reserves the right to cancel or delay or rescind the sale at any time prior to closing.
Bidding and Diligence details at sabre sale.com. [this needs to be a hyperlink and doesn't link here with a space in it]