Purchase and Sale of Note Clause Example from Business Contracts

Purchase and Sale of Note. a. Purchase of Note. On the Closing Date (as defined below), the Company shall issue and sell to the Buyer and the Buyer agrees to purchase the Note from the Company, subject to the express terms of the Note. On the Closing Date, the Company shall issue to Buyer as a commitment fee, a warrant to purchase 2,833,168 shares of its common stock (all warrants issuable hereunder, including now and in the future, shall be referred to, in the aggregate, as the "Warrant") (all shares of common stock unde...rlying the Warrant shall be referred to herein as the "Warrant Shares). b. Form of Payment. On or around the Closing Date (as defined below), the Buyer shall pay the purchase price of $125,000.00 (the "Purchase Price") for the Note by wire transfer of immediately available funds, in accordance with the Company's written wiring instructions, against delivery of the Note, and (i) the Company shall deliver such duly executed Note on behalf of the Company, to the Buyer. c. Closing Date. Subject to the satisfaction (or written waiver) of the conditions thereto set forth in Section 6 and Section 7 below, the date and time of the issuance and sale of the Note pursuant to this Agreement (the "Closing Date") shall be 5:00 P.M., Eastern Standard Time on or about January 31, 2018, or such other mutually agreed upon time. The closing of the transactions contemplated by this Agreement (the "Closing") shall occur on the Closing Date at such location as may be agreed to by the parties. View More