TFI International Inc 6-K, filed Feb 3, 2021

About this 6-K

TFI International Inc. (TFII)

6-K 2021-02-03 For: 2021-02-03

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Added on April 11, 2026

TFI International Inc.

Date: February 3rd, 2021

/s/ Josiane M. Langlois

Name: Josiane M. Langlois

Title: Vice-President, Legal Affairs & Corporate Secretary

TFI International Inc filed this 6-K on February 3, 2021.

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EXHIBIT NUMBER		EXHIBIT DESCRIPTION

99.1 99.2		Material Change Report Purchase Agreement


PURCHASE AGREEMENT		1
ARTICLE I	DEFINITIONS	1
Section 1.1	Definitions	1
Section 1.2	Other Definitions	14
Section 1.3	Construction	16
ARTICLE II	PURCHASE AND SALE	17
Section 2.1	Purchase and Sale of Shares	17
Section 2.2	Purchase and Sale of Transferred Assets and Liabilities	17
Section 2.3	Assignment of Contracts and Rights	20
Section 2.4	Closing Purchase Price; Closing Date Statement	20
Section 2.5	Closing	21
Section 2.6	Deliveries by Seller	21
Section 2.7	Deliveries by Buyer	22
Section 2.8	Post-Closing Adjustment	22
Section 2.9	Purchase Price Allocation	24
ARTICLE III	REPRESENTATIONS AND WARRANTIES RELATING TO THE COMPANY, SELLER AND THE TRANSFERRED ASSETS AND LIABILITIES	25
Section 3.1	Organization	25
Section 3.2	Authority	25
Section 3.3	Ownership of Shares	25
Section 3.4	Capitalization	25
Section 3.5	Subsidiaries	26
Section 3.6	Consents and Approvals; No Violations	26
Section 3.7	Financial Statements	26
Section 3.8	No Undisclosed Liabilities	27
Section 3.9	Absence of Certain Changes	27
Section 3.10	Assets	29
Section 3.11	Real Property	29
Section 3.12	Intellectual Property	31
Section 3.13	Litigation	32
Section 3.14	Compliance with Applicable Law	32
Section 3.15	Business Contracts	33
Section 3.16	Tax Returns; Taxes	34
Section 3.17	Environmental Matters	35
Section 3.18	Licenses and Permits	36
Section 3.19	Company Benefit Plans	36
Section 3.20	Labor Relationships	38
Section 3.21	Insurance Policies	38
Section 3.22	Affiliate Transactions	39
Section 3.23	Ethical Practices	39


Section 3.24	Certain Fees	39
Section 3.25	Material Customers and Suppliers	39
Section 3.26	Accounts Receivable	40
Section 3.27	Owner-Operators	40
Section 3.28	NO OTHER REPRESENTATIONS OR WARRANTIES	41
Section 3.29	NO OTHER REPRESENTATIONS OR WARRANTIES	41
ARTICLE IV	REPRESENTATIONS AND WARRANTIES OF BUYER	42
Section 4.1	Organization	42
Section 4.2	Authorization	42
Section 4.3	Consents and Approvals; No Violations	42
Section 4.4	Litigation	42
Section 4.5	Financial Capability	43
Section 4.6	Solvency	43
Section 4.7	Independent Review	43
Section 4.8	Purchase for Investment	44
Section 4.9	NO OTHER REPRESENTATIONS OR WARRANTIES	44
ARTICLE V	COVENANTS	45
Section 5.1	Access to Information	45
Section 5.2	Consents	46
Section 5.3	Public Announcements	48
Section 5.4	Use of Names and Trademarks	48
Section 5.5	Overnite Trademark	49
Section 5.6	Tax Matters	49
Section 5.7	Preservation of Records	53
Section 5.8	Employees; Employee Benefits	53
Section 5.9	Non-Competition; Non-Solicitation	56
Section 5.10	Guarantees; Commitments; Misdirected Payments	57
Section 5.11	Termination of Intercompany Arrangements	57
Section 5.12	Real Property Matters	58
Section 5.13	Contact with Customers, Suppliers and Other Business Relations	58
Section 5.14	Further Assurances	58
Section 5.15	Releases	59
Section 5.16	Insurance	60
Section 5.17	Solvency after Closing	61
Section 5.18	Further Action Regarding Assets	61
Section 5.19	COVID-19	61
Section 5.20	Financial Statements	62
Section 5.21	Excluded Liabilities and Transferred Liabilities	62
Section 5.22	Litigation Matters	62
Section 5.23	Environmental Matters	64
Section 5.24	Auto and Workers’ Compensation Claims; Vehicle Litigation Holds	66
Section 5.25	Confidentiality Agreement	67
Section 5.26	Resignations	67
Section 5.27	Vesting Credit and Early Retirement.	67


ARTICLE VI	CONDITIONS TO OBLIGATIONS OF THE PARTIES	68
Section 6.1	Conditions to Each Party’s Obligations	68
Section 6.2	Conditions to Obligations of Seller	69
Section 6.3	Conditions to Obligations of Buyer	69
ARTICLE VII	TERMINATION	70
Section 7.1	Termination	70
Section 7.2	Procedure and Effect of Termination	71
ARTICLE VIII	INDEMNIFICATION	72
Section 8.1	Indemnification Obligations of Seller	72
Section 8.2	Indemnification Obligations of Buyer	73
Section 8.3	Indemnification Procedure	73
Section 8.4	Claims Period	75
Section 8.5	Liability Limits	75
Section 8.6	Recovery Priority; Source of Recovery	76
Section 8.7	Exclusive Remedies	77
ARTICLE IX	MISCELLANEOUS	77
Section 9.1	Fees and Expenses	77
Section 9.2	Notices	77
Section 9.3	Severability	78
Section 9.4	Binding Effect; Assignment	79
Section 9.5	No Third Party Beneficiaries	79
Section 9.6	Section Headings	79
Section 9.7	Entire Agreement	79
Section 9.8	Consent to Jurisdiction	79
Section 9.9	Waiver of Jury Trial	80
Section 9.10	Governing Law	80
Section 9.11	Waiver of Conflicts; Privilege	80
Section 9.12	Specific Performance	81
Section 9.13	Counterparts	81
Section 9.14	Amendment; Modification	81
Section 9.15	Schedules	81
Section 9.16	Time of Essence	82
Section 9.17	Bulk Sales Laws	82
Section 9.18	Language; Prevailing Documents	82
Section 9.19	Guarantee	82


Exhibit A	Accounting Principles
Exhibit B	Form of Bill of Sale, Assignment and Assumption Agreement
Exhibit C	Completion Bonus Employees
Exhibit D	Form of Share Transfer Agreement
Exhibit E	Form of Fuel Purchase and Service Agreement
Exhibit F	Form of GFP Reseller Agreement
Exhibit G	Form of Intercompany Arrangement Amendments
Exhibit H-1	Form of Lease-Back Agreement
Exhibit H-2	Form of Zone Location Leases
Exhibit I	Form of Broker-Carrier Agreement
Exhibit J	Form of Transition Services Agreement


Agreed Remediation Actions	Section 5.23(b)
Agreement	Preamble
Allocation Schedule	Section 2.9
Applicable Insurance Coverage	Section 5.16(b)
Auto Claim	Section 5.24(a)
Business Contracts	Section 3.15(a)


Closing	Section 2.5
Closing Date	Section 2.5
Closing Date Balance Sheet	Section 5.20
Closing Date Statement	Section 2.4(b)
Closing Purchase Price	Section 2.4(a)
Company Specified Matter Party Substitution	Section 5.22(c)
Covered Business	Recitals
Excluded Assets	Section 2.2(b)
Excluded Liabilities	Section 2.2(c)
Final Closing Statement	Section 2.8(c)
Guaranteed Obligations	Section 9.19(a)
Guaranteed Party	Section 9.19(a)
Indemnified Guarantees	Section 5.10(a)
Indemnifying Party	Section 8.3(a)
Independent Accountant	Section 2.8(b)
Insurance Coverage Claim	Section 5.16(b)
IRS	Section 3.19(b)(iv)
K&S	Section 9.11(a)
Leased Real Property	Section 3.11(b)
Leases	Section 3.11(b)
Most Recent Balance Sheet	Section 3.8
Objections Notice	Section 2.9
Outside Date	Section 7.1(e)
Owned Real Property	Section 3.11(a)
Parent	Preamble
Parties	Preamble
Party	Preamble
Post-Closing Deductions	Section 5.6(l)
Post-Closing Environmental Remediation Measures	Section 5.23(d)
Post-Closing Environmental Remediation Measures Statement	Section 5.23(d)
Pre-Closing Tax Returns	Section 5.6(b)
Preliminary Closing Statement	Section 2.8(a)
Public Releases	Section 5.3
Privileged Deal Communications	Section 9.11(b)
Response Period	Section 2.9
Section 5.23 Corrective Actions	Section 5.23(a)
Section 5.23 Matters	Section 5.23(a)
Securities Act	Section 4.8(a)
Seller	Recitals
Seller Losses	Section 8.2
Seller Marks	Section 5.4
Seller Parties	Section 9.11(a)
Seller Releasors	Section 5.15(b)
Seller Retained Real Property	Section 5.12(a)
Seller Severance Arrangements	Section 5.8(c)
Seller Specified Matters	Section 5.22(d)


Seller Specified Matter Party Substitution	Section 5.22(e)
Straddle Period	Section 5.6(d)
Supporting Documentation	Section 5.6(e)
Tax Claim	Section 5.6(g)
Terminating Buyer Breach	Section 7.1(c)
Terminating Seller Breach	Section 7.1(b)
Termination Date	Section 7.1
Transferring Employees	Section 5.27(a)
UPS Pension Plan	Section 5.27(a)
Vesting Service	Section 5.27(a)
Workers’ Compensation Claim	Section 5.24(a)


UNITED PARCEL SERVICE OF AMERICA, INC.
By:	(signed) Brian Dykes
	Name:	Brian Dykes
	Title:	Authorized Signatory


UNITED PARCEL SERVICE INC.
By:	(signed) Brian Dykes
	Name:	Brian Dykes
	Title:	Authorized Signatory


TForce HOLDINGS Inc.
By:	(signed) Alain Bédard
	Name:	Alain Bédard
	Title:	President


tfi international, inc.
By:	(signed) Alain Bédard
	Name:	Alain Bédard
	Title:	Chairman of the Board, President, and CEO