Purchase and Sale of Note Clause Example from Business Contracts

Purchase and Sale of Note. a. Purchase of Note and the Warrant. On the Closing Date (as defined below), the Company shall issue and sell to the Buyer the Note and the Buyer shall purchase the Note from the Company such principal amount of Note as is set forth immediately below the Buyer's name on the signature pages hereto, and the Warrant to purchase up to 1,000,000 shares of Common Stock, subject to adjustment as provided therein. The Agreement, the Note, the Warrant and those other documents executed in connection ther...ewith shall be referred to herein as the "Transaction Documents." b. Form of Payment. On the Closing Date (as defined below), (i) the Buyer shall pay the purchase price for the Note in the amount of US$540,000 (the "Purchase Price") by wire transfer of immediately available funds to the Company, in accordance with the Company's written wiring instructions, against delivery of the Note and the Warrant in the principal amount equal to the Purchase Price, and (ii) the Company shall deliver such duly executed Note, the Warrant, and the Commitment Fee Shares (as defined herein) on behalf of the Company, to the Buyer, against delivery of such Purchase Price. c. Closing Date. Subject to the satisfaction (or written waiver) of the conditions thereto set forth in Section 7 and Section 8 below, the date and time of the issuance and sale of the Note pursuant to this Agreement (the "Closing Date") shall be 12:00 noon, Eastern Standard Time on the date hereof, or such other mutually agreed upon time. The closing of the transactions contemplated by this Agreement (the "Closing") shall occur on the Closing Date by remote exchange of documents, or at such location as may be agreed to by the parties. View More