Document ID: 13386

Text:
Section 2.1 Purchase and Sale of Subordinated Note and Warrant.The Company hereby agrees to sell to the Purchaser and, subject to the terms and conditions set forth herein and in reliance upon the representations and warranties of the Company contained herein, Purchaser agrees to purchase from the Company the Subordinated Note and the Warrant for an aggregate total purchase price of Seven Million Four Hundred Thousand Dollars ( $7,400,000 ) (the Purchase Price), subject to the conditions as provided below in this Section and to the satisfaction, on or prior to February 8, 2017 (or such later date as the parties hereto may mutually agree in writing), of each of the conditions precedent set forth in Section 5.2, to be paid in a single advance of Seven Million Four Hundred Thousand Dollars ( $7,400,000 ) (the Advance) on the Closing Date, as provided in the immediately succeeding sentence.Upon satisfaction of all conditions to Closing set forth in Section 5.2 on or prior to February 8, 2017 (or such later date as the parties hereto may mutually agree in writing), at the Closing the Purchaser shall pay the Advance to the Company by wire transfer pursuant to the instructions of the Company as set forth in the Pay Proceeds Letter. The purchase price consideration attributable to the Warrant shall be deemed fully paid and satisfied upon the funding of the Advance on the Closing Date. For the avoidance of doubt, if the conditions precedent set forth in Section 5.2 are not satisfied (or waived in writing by Purchaser in its sole discretion) on or prior to February 8, 2017 (or such later date as the parties hereto may mutually agree in writing), then Purchaser shall be under no obligation to purchase the Subordinated Note and Warrant and pay the Purchase Price and, in such case, Purchaser shall return to the Company the Subordinated Note and Warrant, which shall not be considered issued and outstanding unless and until the Closing has occurred (as evidenced by payment of the Advance to the Company as provided above in this Section 2.1 on the Closing Date).

Named Entities:
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Title
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EffectiveDate

Tokenized Text:
Section
2
.
1
Purchase
and
Sale
of
Subordinated
Note
and
Warrant
.
The
Company
hereby
agrees
to
sell
to
the
Purchaser
and
,
subject
to
the
terms
and
conditions
set
forth
herein
and
in
reliance
upon
the
representations
and
warranties
of
the
Company
contained
herein
,
Purchaser
agrees
to
purchase
from
the
Company
the
Subordinated
Note
and
the
Warrant
for
an
aggregate
total
purchase
price
of
Seven
Million
Four
Hundred
Thousand
Dollars
(
$
7
,
400
,
000
)
(
the
Purchase
Price
)
,
subject
to
the
conditions
as
provided
below
in
this
Section
and
to
the
satisfaction
,
on
or
prior
to
February
8
,
2017
(
or
such
later
date
as
the
parties
hereto
may
mutually
agree
in
writing
)
,
of
each
of
the
conditions
precedent
set
forth
in
Section
5
.
2
,
to
be
paid
in
a
single
advance
of
Seven
Million
Four
Hundred
Thousand
Dollars
(
$
7
,
400
,
000
)
(
the
Advance
)
on
the
Closing
Date
,
as
provided
in
the
immediately
succeeding
sentence
.
Upon
satisfaction
of
all
conditions
to
Closing
set
forth
in
Section
5
.
2
on
or
prior
to
February
8
,
2017
(
or
such
later
date
as
the
parties
hereto
may
mutually
agree
in
writing
)
,
at
the
Closing
the
Purchaser
shall
pay
the
Advance
to
the
Company
by
wire
transfer
pursuant
to
the
instructions
of
the
Company
as
set
forth
in
the
Pay
Proceeds
Letter
.
The
purchase
price
consideration
attributable
to
the
Warrant
shall
be
deemed
fully
paid
and
satisfied
upon
the
funding
of
the
Advance
on
the
Closing
Date
.
For
the
avoidance
of
doubt
,
if
the
conditions
precedent
set
forth
in
Section
5
.
2
are
not
satisfied
(
or
waived
in
writing
by
Purchaser
in
its
sole
discretion
)
on
or
prior
to
February
8
,
2017
(
or
such
later
date
as
the
parties
hereto
may
mutually
agree
in
writing
)
,
then
Purchaser
shall
be
under
no
obligation
to
purchase
the
Subordinated
Note
and
Warrant
and
pay
the
Purchase
Price
and
,
in
such
case
,
Purchaser
shall
return
to
the
Company
the
Subordinated
Note
and
Warrant
,
which
shall
not
be
considered
issued
and
outstanding
unless
and
until
the
Closing
has
occurred
(
as
evidenced
by
payment
of
the
Advance
to
the
Company
as
provided
above
in
this
Section
2
.
1
on
the
Closing
Date
)
.