Amendment to Purchase Agreement between ESP Resources, Inc. and Lincoln Park Capital Fund, LLC
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Summary
This agreement amends a previous Purchase Agreement dated September 16, 2010, between ESP Resources, Inc. and Lincoln Park Capital Fund, LLC. The amendment specifically changes the language in Section 11(a) of the original agreement, replacing a clause regarding the investor's rights during an event of default. All other terms of the original Purchase Agreement remain unchanged. Both parties have agreed to and signed this amendment as of November 18, 2010.
EX-10.13 4 espi_ex1013.htm PURCHASE AGREEMENT/AMENDMENT espi_ex1013.htm
EXHIBIT 10.13
ESP RESOURCES, INC.
1255 Lions Club Road
Scott, LA 70583
November 18, 2010
Lincoln Park Capital Fund, LLC
440 North Wells, Suite 620
Chicago, IL 60654
Attention: Josh Scheinfeld/Jonathan Cope
Re: Purchase Agreement/Amendment
Gentlemen:
This letter agreement (the “Agreement”) documents our understanding regarding amending that certain Purchase Agreement dated September 16, 2010 (the “Purchase Agreement”) between Lincoln Park Capital Fund, LLC and ESP Resources, Inc. (the “Company”). This Agreement hereby amends the Purchase Agreement by deleting the following from Section 11(a) of the Purchase Agreement:
“By the Investor any time an Event of Default exists without any liability or payment to the Company. However, if”
The deleted portion above shall be replaced by:
“If”
All other terms and conditions of the Purchase Agreement shall remain in full force and effect. Please sign below acknowledging your acceptance to this Agreement.
| Sincerely yours, | ||
| /s/ David Dugas | ||
| David Dugas | ||
| President |
Acknowledged and agreed to as of the date written above:
LINCOLN PARK CAPITAL FUND, LLC
BY: LINCOLN PARK CAPITAL, LLC
BY: Rockledge Capital Corporation
| /s/ Josh Scheinfeld | ||||
| Josh Scheinfeld | ||||
| President |
