Exhibit 10.40
	 
	
FORM OF SECURITIES PURCHASE AGREEMENT

                This Securities Purchase Agreement (this “Agreement”) is dated as of July 25, 2007, between Alfacell Corporation, a Delaware corporation (the “Company”), and Unilab LP, a limited partnership organized under the laws of Maryland (the “Purchaser”).

                WHEREAS, subject to the terms and conditions set forth in this Agreement and pursuant to Section 4(2)
of the Securities Act (as defined below) and Rule 506 promulgated thereunder, the Company desires
to issue and sell to the Purchaser, and the Purchaser desires to purchase from the Company shares
of common stock of the Company, as more fully described in this Agreement.

                NOW, THEREFORE, IN CONSIDERATION of the mutual covenants contained in this Agreement, and for other
good and valuable consideration the receipt and adequacy of which are hereby acknowledged, the Company
and the Purchaser agree as follows:

ARTICLE I.
DEFINITIONS

                1.1           Definitions. In addition to the terms defined elsewhere in this Agreement, for all purposes of this Agreement,
the following terms shall have the meanings indicated in this Section 1.1:

                                “Action” means any action, suit, inquiry, notice of violation, proceeding (including any partial proceeding
such as a deposition) or investigation pending or threatened in writing against or affecting the
Company or any of its properties before or by any court, arbitrator, governmental or administrative
agency, regulatory authority (federal, state, county, local or foreign), stock market, stock exchange
or trading facility.

                                “Affiliate” means any Person that, directly or indirectly through one or more intermediaries, controls or
is controlled by or is under common control with a Person, as such terms are used in and construed
under Rule 144.

                                “Business Day” means any day except Saturday, Sunday and any day which shall be a federal legal holiday or
a day on which banking institutions in the State of New York are authorized or required by law or
other governmental action to close.

                                “Closing” means the closing of the purchase and sale of the Shares pursuant to Section 2.

                                “Closing Date” means July 25, 2007.

                                “Commission” means the United States Securities and Exchange Commission.

                                “Common Stock” means the common stock of the Company, $.001 par value per share. 

                                “Distribution Agreement” means the Distribution and Marketing Agreement of even date herewith between the Company and
the Purchaser’s affiliate, USP Pharma Spolka Z.O.O.

                                “Exchange Act” means the Securities Exchange Act of 1934, as amended.



	

 









	
                                “Lien” means any lien, charge, encumbrance, security interest, right of first refusal or other restrictions
of any kind.

                                “Person” means an individual or corporation, partnership, trust, incorporated or unincorporated association,
joint venture, limited liability company, joint stock company, government (or an agency or subdivision
thereof) or other entity of any kind.

                                “Proceeding” means an action, claim, suit, investigation or proceeding (including, without limitation, an
investigation or partial proceeding, such as a deposition), whether commenced or threatened.

                                “Rule 144” means Rule 144 promulgated by the Commission pursuant to the Securities Act, as such Rule may
be amended from time to time, or any similar rule or regulation hereafter adopted by the Commission
having substantially the same effect as such Rule.

                                “Securities Act” means the Securities Act of 1933, as amended.

                                “Shares” means the shares of Common Stock issued to the Purchaser pursuant to this Agreement. The Shares
shall have the same voting rights as the shares of Common Stock outstanding as of the date hereof.

                                “Trading Day” means (i) a day on which the Common Stock is traded on a Trading Market, or (ii) if the Common
Stock is not listed on a Trading Market, a day on which the Common Stock is traded in the over-the-counter
market, as reported by the OTC Bulletin Board, or (iii) if the Common Stock is not quoted on the
OTC Bulletin Board, a day on which the Common Stock is quoted in the over-the-counter market as reported
by the National Quotation Bureau Incorporated (or any similar organization or agency succeeding to
its functions of reporting prices); provided, that in the event that the Common Stock is not listed
or quoted as set forth in (i), (ii) and (iii) hereof, then Trading Day shall mean a Business Day.

                                “Trading Market” means whichever of the New York Stock Exchange, the American Stock Exchange, the NASDAQ Global
Market, the NASDAQ Capital Market or OTC Bulletin Board on which the Common Stock is listed or quoted
for trading on the date in question.

ARTICLE II.
PURCHASE AND SALE

                2.1           Closing. Subject to the terms and conditions set forth in this Agreement, at the Closing the Company shall
issue and sell to the Purchaser an aggregate of 553,360 Shares for a per Share purchase price of
$2.53 and an aggregate purchase price of $1,400,000. 

                2.2           The Closing shall take place at
the offices of Heller Ehrman LLP, 7 Times Square, New York, NY 10036 on the Closing Date or at such
other location or time as the parties may agree.

                2.3           Closing Deliveries. (a) At the Closing, the Company shall deliver or cause to be delivered to each Purchaser the
following:

                                                (i)            a certificate evidencing 553,360
Shares.

                                (b)           At the Closing, the Purchaser
shall deliver or cause to be delivered to the Company the following:




	

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                                                (i)            $1,400,000, in United States
dollars and in immediately available funds, by wire transfer to an account designated in writing
by the Company for such purpose.

ARTICLE III.
REPRESENTATIONS AND WARRANTIES

                3.1           Representations and Warranties of the Company. The Company hereby makes the following representations and warranties to the Purchaser: 

                                (a)           Subsidiaries. The Company has no direct or indirect subsidiaries. 

                                (b)           Organization and Qualification. The Company is an entity duly incorporated or otherwise organized, validly existing and in good standing
under the laws of the jurisdiction of its incorporation or organization (as applicable), with the
requisite power and authority to own and use its properties and assets and to carry on its business
as currently conducted. The Company is not in violation of any of the provisions of its respective
certificate or articles of incorporation, bylaws or other organizational or charter documents. The
Company is duly qualified to conduct business and is in good standing as a foreign corporation or
other entity in each jurisdiction in which the nature of the business conducted or property owned
by it makes such qualification necessary, except where the failure to be so qualified or in good
standing, as the case may be, could not, individually or in the aggregate, have or reasonably be
expected to result in (i) an adverse effect on the legality, validity or enforceability of this Agreement,
(ii) a material and adverse effect on the results of operations, assets, business or condition (financial
or otherwise) of the Company, taken as a whole, or (iii) an adverse impairment to the Company’s
ability to perform on a timely basis its obligations under this Agreement (any of (i), (ii) or (iii), a “Material Adverse Effect”).

                                (c)           Authorization; Enforcement. The Company has the requisite corporate power and authority to enter into and to consummate the transactions
contemplated by this Agreement and otherwise to carry out its obligations hereunder. The execution
and delivery of this Agreement by the Company and the consummation by it of the transactions contemplated
hereby have been duly authorized by all necessary action on the part of the Company and no further
action is required by the Company in connection herewith. This Agreement has been duly executed by
the Company and, when delivered in accordance with the terms hereof, will constitute the valid and
binding obligation of the Company enforceable against the Company in accordance with its terms. 

                                (d)           No Conflicts. The execution, delivery and performance of this Agreement by the Company and the consummation by
the Company of the transactions contemplated hereby do not and will not (i) conflict with or violate
any provision of the Company’s certificate or articles of incorporation, bylaws or other organizational
or charter documents, or (ii) conflict with, or constitute a default (or an event that with notice
or lapse of time or both would become a default) under, or give to others any rights of termination,
amendment, acceleration or cancellation (with or without notice, lapse of time or both) of, any agreement,
credit facility, debt or other instrument or other understanding to which the Company is a party
or by which any property or asset of the Company is bound or affected, or (iii) result in a violation
of any law, rule, regulation, order, judgment, injunction, decree or other restriction of any court
or governmental authority to which the Company is subject (including federal and state securities
laws and regulations), or by which any property or asset of the Company is bound or affected; except
in the case of each of clauses (ii) and (iii), such as could not, individually or in the aggregate,
have or reasonably be expected to result in a Material Adverse Effect.




	

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                                (e)           Filings, Consents and Approvals. The Company is not required to obtain any consent, waiver, authorization or order of, give any notice
to, or make any filing or registration with, any court or other federal, state, local or other governmental
authority or other Person in connection with the execution, delivery and performance by the Company
of this Agreement, other than (i) the application(s) to the Trading Market on which the Common Stock
is listed for trading for the listing of the Shares for trading thereon in the time and manner required
thereby; and (ii) the filing with the Commission of a Form D and the applicable blue sky forms in
the relevant states.

                                (f)            Issuance of the Securities. The Securities have been duly authorized and, when issued and paid for in accordance with this Agreement,
will be duly and validly issued, fully paid and nonassessable, free and clear of all Liens. 

                                (g)           Capitalization. As of June 15, 2007, the Company’s capitalization is as set forth in Schedule 3.1(g). Except as disclosed in Schedule 3.1(g), no securities of the Company are entitled to preemptive or similar rights, and no Person has any
right of first refusal, preemptive right, right of participation, or any similar right to participate
in the transactions contemplated by this Agreement. Except as disclosed in Schedule 3.1(g), there are no outstanding options, warrants, scrip rights to subscribe to, calls or commitments of
any character whatsoever relating to, or securities, rights or obligations convertible into or exchangeable
for, or giving any Person any right to subscribe for or acquire, any shares of Common Stock, or contracts,
commitments, understandings or arrangements by which the Company is or may become bound to issue
additional shares of Common Stock, or securities or rights convertible or exchangeable into shares
of Common Stock. Except as set forth in Schedule 3.1(g), the issue and sale of the Shares will not, immediately or with the passage of time, obligate the
Company to issue shares of Common Stock or other securities to any Person (other than the Purchaser)
and will not result in a right of any holder of Company securities to adjust the exercise, conversion,
exchange or reset price under such securities. 

                                (h)           SEC Reports; Financial Statements. The Company has informed the Purchaser of the accessibility of all of its financial documents and
any other periodic report, current report or definitive proxy statement required to be filed with
the SEC at www.sec.gov. The Company has filed all reports required to be filed by it under the Securities
Act and the Exchange Act, including pursuant to Section 13(a) or 15(d) thereof, for the twelve months
preceding the date hereof (or such shorter period as the Company was required by law to file such
reports) (the foregoing materials being collectively referred to herein as the “SEC Reports”) on a timely basis or has timely filed a valid extension of such time of filing and has filed
any such SEC Reports prior to the expiration of any such extension. As of their respective dates,
the SEC Reports complied in all material respects with the requirements of the Securities Act and
the Exchange Act and the rules and regulations of the Commission promulgated thereunder, and none
of the SEC Reports, when filed, contained any untrue statement of a material fact or omitted to state
a material fact required to be stated therein or necessary in order to make the statements therein,
in light of the circumstances under which they were made, not misleading. The financial statements
of the Company included in the SEC Reports comply in all material respects with applicable accounting
requirements and the rules and regulations of the Commission with respect thereto as in effect at
the time of filing. Such financial statements have been prepared in accordance with generally accepted
accounting principles applied on a consistent basis during the periods involved (“GAAP”), except as may be otherwise specified in such financial statements or the notes thereto, and
fairly present in all material respects the financial position of the Company as of and for the dates
thereof and the results of operations and cash flows for the periods then ended, subject, in the
case of unaudited statements, to normal, immaterial, year-end audit adjustments. Notwithstanding
anything to the contrary in this Agreement, the Company’s current financial performance may
vary materially from expectations disclosed in the Company’s SEC Reports and other publicly
released information by the Company.




	

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                                (i)            Material Changes. Since the date of the latest audited financial statements included within the SEC Reports, except
as specifically disclosed in the SEC Reports, (i) there has been no event, occurrence or development
that has had or that could reasonably be expected to result in a Material Adverse Effect, (ii) the
Company has not incurred any liabilities (contingent or otherwise) other than (A) trade payables
and accrued expenses incurred in the ordinary course of business consistent with past practice and
(B) liabilities not required to be reflected in the Company’s financial statements pursuant
to GAAP or required to be disclosed in filings made with the Commission, (iii) the Company has not
altered its method of accounting or the identity of its auditors, (iv) the Company has not declared
or made any dividend or distribution of cash or other property to its stockholders or purchased,
redeemed or made any agreements to purchase or redeem any shares of its capital stock, and (v) the
Company has not issued any equity securities to any officer, director or Affiliate, except pursuant
to existing Company stock option plans or outstanding options and warrants. 

                                (j)            Litigation. Except as set forth in the SEC Reports, there is no Action which (i) adversely affects or challenges
the legality, validity or enforceability of any of this Agreement or the Shares or (ii) could, if
there were an unfavorable decision, individually or in the aggregate, have or reasonably be expected
to result in a Material Adverse Effect. The Commission has not issued any stop order or other order
suspending the effectiveness of any registration statement filed by the Company under the Exchange
Act or the Securities Act.

                                (k)           Labor Relations. Except as disclosed in the SEC Reports, no material labor dispute exists or, to the knowledge of
the Company, is imminent with respect to any of the employees of the Company. 

                                (l)            Compliance. Except as disclosed in the SEC Reports, the Company (i) is not in default under or in violation of
(and no event has occurred that has not been waived that, with notice or lapse of time or both, would
result in a default by the Company), nor has the Company received notice of a claim that it is in
default under or that it is in violation of, any indenture, loan or credit agreement or any other
agreement or instrument to which it is a party or by which it or any of its properties is bound (whether
or not such default or violation has been waived), (ii) is not in violation of any order of
any court, arbitrator or governmental body, or (iii) is not or has not been in violation of any statute,
rule or regulation of any governmental authority, including without limitation all foreign, federal,
state and local laws relating to taxes, environmental protection, occupational health and safety,
product quality and safety and employment and labor matters, except in each case as could not, individually
or in the aggregate, have or reasonably be expected to result in a Material Adverse Effect. The Company
is in compliance with the applicable requirements of the Sarbanes-Oxley Act of 2002 and the rules
and regulations thereunder promulgated by the Commission, except where such noncompliance could not
have or reasonably be expected to result in a Material Adverse Effect. The Company and the development
and manufacture of its products comply with any and all applicable requirements of the Federal Food,
Drug and Cosmetic Act, 21 U.S.C. § 301, et seq., any applicable rules and regulations of the
Food and Drug Administration promulgated thereunder, and any similar laws outside of the United States
to which the Company is subject, except where such noncompliance could not have or reasonably be
expected to result in a Material Adverse Effect. 

                                (m)          Regulatory Permits. The Company possesses all certificates, authorizations and permits issued by the appropriate federal,
state, local or foreign regulatory authorities necessary to conduct its business as described in
the SEC Reports, except where the failure to possess such permits would not, individually or in the
aggregate, have or reasonably be expected to result in a Material Adverse Effect (“Material Permits”), and the Company has not received any notice of proceedings relating to the revocation or modification
of any Material Permit. 




	

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                                (n)           Title to Assets. The Company has good and marketable title in fee simple to all real property owned by it that is
material to its business and good and marketable title in all personal property owned by it that
is material to its business, in each case free and clear of all Liens, except for Liens disclosed
in the SEC Reports and Liens as do not materially affect the value of such property and do not materially
interfere with the use made and proposed to be made of such property by the Company. Except as disclosed
in the SEC Reports, all real property and facilities held under lease by the Company are held under
valid, subsisting and enforceable leases of which the Company is in substantial compliance.

                                (o)           Patents and Trademarks. To the knowledge of the Company, the Company owns, or has rights to use, all patents, patent applications,
trademarks, trademark applications, service marks, trade names, copyrights and other similar rights
(collectively, the “Intellectual Property Rights”) that are necessary for conducting its business as described in the SEC Reports and which the
failure to so have could, individually or in the aggregate, have or reasonably be expected to result
in a Material Adverse Effect. The Company has not received a written notice that the Intellectual
Property Rights used by the Company violate or infringe upon the rights of any Person. Except as
set forth in the SEC Reports, to the knowledge of the Company, all such Intellectual Property Rights
are enforceable and there is no existing infringement by another Person of any of the Intellectual
Property Rights.

                                (p)           Insurance. The Company is insured by insurers of recognized financial responsibility against such losses and
risks and in such amounts as are prudent and customary in the businesses in which the Company is
engaged. The Company has no reason to believe that it will not be able to renew its existing insurance
coverage as and when such coverage expires or to obtain similar coverage from similar insurers as
may be necessary to continue its business without a significant increase in cost.

                                (q)           Transactions With Affiliates and Employees. Except as set forth in the SEC Reports, none of the officers or directors of the Company and, to
the knowledge of the Company, none of the employees of the Company, is presently a party to any transaction
with the Company (other than for services as employees, officers and directors), including any contract,
agreement or other arrangement providing for the furnishing of services to or by, providing for rental
of real or personal property to or from, or otherwise requiring payments to or from any officer,
director or such employee or, to the knowledge of the Company, any entity in which any officer, director,
or any such employee has a substantial interest or is an officer, director, trustee or partner.

                                (r)            Certain Fees. No brokerage or finder’s fees or commissions are or will be payable by the Company to any broker,
financial advisor or consultant, finder, placement agent, investment banker, bank or other Person
with respect to the transactions contemplated by this Agreement. 

                                (s)           Listing and Maintenance Requirements. The Company has not, in the two years preceding the date hereof, received notice (written or oral)
from any Trading Market to the effect that the Company is not in compliance with the listing or maintenance
requirements thereof. The Company is, and has no reason to believe that it will not in the foreseeable
future continue to be, in compliance with the listing and maintenance requirements for continued
listing of the Common Stock on the NASDAQ Capital Market. The issuance and sale of the Shares under
this Agreement do not contravene the rules and regulations of the Trading Market on which the Common
Stock is currently listed or quoted or any other Trading Market with whom the Company may be in formal
discussions regarding the listing of the Common Stock, and no approval of the shareholders of the
Company thereunder is required for the Company to issue and deliver to the Purchaser the number of
Shares contemplated by this Agreement. 




	

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                                (t)            Investment Company. The Company is not, and is not an Affiliate of, an “investment company” within the meaning
of the Investment Company Act of 1940, as amended.

                                (u)           Disclosure. The Company understands and confirms that the Purchaser will rely on the foregoing representations
and covenants in effecting transactions in securities of the Company. All disclosure provided to
the Purchaser regarding the Company, its business and the transactions contemplated hereby, furnished
by or on behalf of the Company in writing to the Purchaser (including the Company’s representations
and warranties set forth in this Agreement) are true and correct and do not contain any untrue statement
of a material fact or omit to state any material fact necessary in order to make the statements made
therein, in light of the circumstances under which they were made, not misleading.

                3.2           Representations and Warranties of the Purchaser. The Purchaser hereby represents and warrants to the Company as follows:

                                (a)           Authority. The Agreement has been duly executed by the Purchaser, and when delivered by the Purchaser in accordance
with terms hereof, will constitute the valid and legally binding obligation of the Purchaser, enforceable
against it in accordance with its terms.

                                (b)           Investment Intent. The Purchaser is acquiring the Shares as principal for its own account for investment purposes only
and not with a view to or for distributing or reselling such Shares or any part thereof, without
prejudice, however, to the Purchaser’s right at all times to sell or otherwise dispose of all
or any part of such Securities in compliance with applicable federal and state securities laws. The
Purchaser does not have any agreement or understanding, directly or indirectly, with any Person to
distribute any of the Securities.

                                (c)           Purchaser Status. At the time the Purchaser was offered the Shares, it was, and at the date hereof and as of the Closing
Date it is, an “accredited investor” as defined in Rule 501(a) under the Securities Act.
The Purchaser is not a registered broker-dealer under Section 15 of the Exchange Act.

                                (d)           General Solicitation. The Purchaser is not purchasing the Shares as a result of any advertisement, article, notice or other
communication regarding the Shares published in any newspaper, magazine or similar media or broadcast
over television or radio or presented at any seminar or any other general solicitation or general
advertisement.

                                (e)           Access to Information. The Purchaser acknowledges that it has reviewed the SEC Reports and has been afforded (i) the opportunity
to ask such questions as it has deemed necessary of, and to receive answers from, representatives
of the Company concerning the terms and conditions of the offering of the Shares and the merits and
risks of investing in the Shares; (ii) access to information about the Company and its financial
condition, results of operations, business, properties, management and prospects sufficient to enable
it to evaluate its investment; and (iii) the opportunity to obtain such additional information that
the Company possesses or can acquire without unreasonable effort or expense that is necessary to
make an informed investment decision with respect to the investment. Neither such inquiries nor any
other investigation conducted by or on behalf of the Purchaser or its representatives or counsel
shall modify, amend or affect the Purchaser’s right to rely on the truth, accuracy and completeness
of the Company’s representations and warranties contained in this Agreement. The Purchaser acknowledges
that in connection with its evaluation of the product that is the subject matter of the Distribution
Agreement it received confidential information concerning such product and the Company which could
be viewed as material non-public information.




	

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                                (f)            Disclosure. The Purchaser understands and confirms that the Company will rely on the foregoing representations
and covenants of the Purchaser in evaluating whether or not registration is required under the Securities
Act for the offer, sale and issuance of the Shares to the Purchaser as contemplated herein.

                                (g)           Suitability and Sophistication. The Purchaser has such knowledge, sophistication and experience in financial and business matters
that it is capable of independently evaluating the risks and merits of purchasing the Shares, and
it has sufficient financial resources to bear the loss of its entire investment in the Shares.

ARTICLE IV.
OTHER AGREEMENTS OF THE PARTIES

                4.1           (a)           The
Shares may only be disposed of in compliance with state and federal securities laws. In connection
with any transfer of the Shares other than pursuant to an effective registration statement, the Company
may require the transferor thereof to provide to the Company an opinion of counsel selected by the
transferor, the form and substance of which opinion shall be reasonably satisfactory to the Company,
to the effect that such transfer does not require registration of such transferred Shares under the
Securities Act. 

                                (b)           Certificates
evidencing the Shares will contain the following legend, so long as is required by this Section 4.1(b):

                THESE SECURITIES HAVE NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES
COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT
OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD
EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN
AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE
SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION
OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE
TO THE COMPANY. 

                4.2           Securities Laws Disclosure; Publicity. The Company will issue a press release disclosing the transactions contemplated hereby and file a
Current Report on Form 8-K disclosing the material terms of the transactions contemplated hereby.
The Company will file this Agreement and the Distribution Agreement with the Commission. In addition,
the Company will make such other filings and notices in the manner and time required by the Commission
and the Trading Market on which the Common Stock is listed.

                4.3           Use of Proceeds. The Company will utilize the proceeds it receives from the sale of the Shares hereunder for general
corporate purposes, including without limitation for research and development of its technologies
and products.

ARTICLE V.
MISCELLANEOUS

                5.1           Entire Agreement. This Agreement and the Distribution Agreement contain the entire understanding of the parties with
respect to the subject matter hereof and supersede all prior agreements 




	

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and understandings, oral or written, with respect to such matters, which the parties acknowledge have
been merged into such documents and exhibits. 

                5.2           Notices. Any and all notices or other communications or deliveries required or permitted to be provided hereunder
shall be in writing and shall be deemed given and effective on the earliest of (a) the date of transmission,
if such notice or communication is delivered via facsimile at the facsimile number specified in this
Section prior to 6:30 p.m. (New York City time) on a Trading Day, (b) the next Trading Day after
the date of transmission, if such notice or communication is delivered via facsimile at the facsimile
number specified in this Section on a day that is not a Trading Day or later than 6:30 p.m. (New
York City time) on any Trading Day, (c) the Trading Day following the date of mailing, if sent by
U.S. nationally recognized overnight courier service, or (d) upon actual receipt by the party to
whom such notice is required to be given. The address for such notices and communications shall be as follows:

	 


	 	If to the Company:	Alfacell Corporation

  300 Atrium Drive,
Somerset, NJ 08873
Attn: Chief Executive Officer
Facsimile No.: (973) 748-1355
	 	 	 
	 	With a copy to:	Heller Ehrman LLP

  7 Times Square 
New York, NY 10036
Attn: Kevin T. Collins
Facsimile No.: (212) 847-8742

	 	 	 
	 	If to the Purchaser:   	Unilab LP

  966 Hungerford Drive, Suite 3B

  Rockville, Maryland 20850


	 
	
or such other address as may be designated in writing hereafter, in the same manner, by such Person.

                5.3           Amendments; Waivers. No provision of this Agreement may be waived or amended except in a written instrument signed, in
the case of an amendment, by the Company and the Purchaser or, in the case of a waiver, by the Party
against whom enforcement of any such waiver is sought. No waiver of any default with respect to any
provision, condition or requirement of this Agreement shall be deemed to be a continuing waiver in
the future or a waiver of any subsequent default or a waiver of any other provision, condition or
requirement hereof, nor shall any delay or omission of either party to exercise any right hereunder
in any manner impair the exercise of any such right.

                5.4           Construction. The headings herein are for convenience only, do not constitute a part of this Agreement and shall
not be deemed to limit or affect any of the provisions hereof. The language used in this Agreement
will be deemed to be the language chosen by the parties to express their mutual intent, and no rules
of strict construction will be applied against any party. This Agreement shall be construed as if
drafted jointly by the parties, and no presumption or burden of proof shall arise favoring or disfavoring
any party by virtue of the authorship of any provisions of this Agreement.

                5.5           Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their successors
and permitted assigns. Neither party may assign this Agreement or any rights or obligations hereunder
without the prior written consent of the other party.




	

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                5.6           No Third-Party Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their respective successors
and permitted assigns and is not for the benefit of, nor may any provision hereof be enforced by,
any other Person.

                5.7           Governing Law. All questions concerning the construction, validity, enforcement and interpretation of this Agreement
shall be governed by and construed and enforced in accordance with the internal laws of the State
of New York, without regard to the principles of conflicts of law thereof. Each party agrees that
all Proceedings concerning the interpretations, enforcement and defense of the transactions contemplated
by this Agreement (whether brought against a party hereto or its respective Affiliates, employees
or agents) shall be commenced exclusively in the state and federal courts sitting in the City of
New York, Borough of Manhattan (the “New York Courts”). Each party hereto hereby irrevocably submits to the exclusive jurisdiction of the New York
Courts for the adjudication of any dispute hereunder or in connection herewith or with any transaction
contemplated hereby or discussed herein, and hereby irrevocably waives, and agrees not to assert
in any Proceeding, any claim that it is not personally subject to the jurisdiction of any such New
York Court, or that such Proceeding has been commenced in an improper or inconvenient forum. Each
party hereto hereby irrevocably waives personal service of process and consents to process being
served in any such Proceeding by mailing a copy thereof via registered or certified mail or overnight
delivery (with evidence of delivery) to such party at the address in effect for notices to it under
this Agreement and agrees that such service shall constitute good and sufficient service of process
and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve
process in any manner permitted by law. Each party hereto hereby irrevocably waives, to the fullest
extent permitted by applicable law, any and all right to trial by jury in any legal proceeding arising
out of or relating to this Agreement or the transactions contemplated hereby. If either party shall
commence a Proceeding to enforce any provisions of this Agreement, then the prevailing party in such
Proceeding shall be reimbursed by the other party for its attorney’s fees and other costs and
expenses incurred with the investigation, preparation and prosecution of such Proceeding.

                5.8           Survival. The representations, warranties, agreements and covenants contained herein shall survive the Closing
Date and the delivery of the Shares.

                5.9           Execution. This Agreement may be executed in two or more counterparts, all of which when taken together shall
be considered one and the same agreement and shall become effective when counterparts have been signed
by each party and delivered to the other party, it being understood that both parties need not sign
the same counterpart. In the event that any signature is delivered by facsimile transmission, such
signature shall create the valid and binding obligation of the party executing (or on whose behalf
such signature is executed) with the same force and effect as if such facsimile signature page were
an original thereof.

                5.10         Severability. If any provision of this Agreement is held to be invalid or unenforceable in any respect, the validity
and enforceability of the remaining terms and provisions of this Agreement shall not in any way be
affected or impaired thereby and the parties will attempt to agree upon a valid and enforceable provision
that is a reasonable substitute therefor, and upon so agreeing, shall incorporate such substitute
provision in this Agreement.

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                IN WITNESS WHEREOF, the parties hereto have caused this Securities Purchase Agreement to be duly executed
by their respective authorized signatories as of the date first indicated above.

	 


	 	ALFACELL CORPORATION
		 
		/s/ Kuslima Shogen
		

		Name:	Kuslima Shogen
		Title:	Chief Executive Officer
		 
		 
		UNILAB LP
		 
		

		Name:
		Title:


	

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