SEC Contract Filing

Filing Date: 2018-08-20

Document Content:
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<TYPE>EX-10.4
<SEQUENCE>5
<FILENAME>ex10-4.htm
<DESCRIPTION>FORM OF ADAR SECURITIES PURCHASE AGREEMENT
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<P STYLE="margin: 0; text-align: left"><A HREF="blsp-10q_063018.htm">Blue Sphere Corporation 10-Q</A></P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 10.4</B></P>

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<P STYLE="font: 10pt Times New Roman,serif; margin: 0pt 0; text-align: center"><B>SECURITIES PURCHASE AGREEMENT</B></P>

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<P STYLE="font: 10pt Times New Roman,serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This <B>SECURITIES PURCHASE
AGREEMENT</B> (the &ldquo;Agreement&rdquo;), dated as of May 14, 2018, by and between <B>BLUE SPHERE CORP.</B>, a Nevada corporation,
with headquarters located at 301 McCullough Drive, 4<SUP>th</SUP> Floor, Charlotte, NC 28262 (the &ldquo;Company&rdquo;), and <B>ADAR
BAYS, LLC</B> a Florida limited liability company, with its address at 3411 Indian Creek Drive, Suite 403, Miami Beach, FL 33140
(the &ldquo;Buyer&rdquo;).</P>

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<P STYLE="font: 10pt Times New Roman,serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>WHEREAS</B>:</P>

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<P STYLE="font: 10pt Times New Roman,serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">A.<FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The Company and the Buyer are executing and delivering this Agreement in reliance upon the exemption from securities registration
afforded by the rules and regulations as promulgated by the United States Securities and Exchange Commission (the &ldquo;SEC&rdquo;)
under the Securities Act of 1933, as amended (the &ldquo;1933 Act&rdquo;);</P>

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<P STYLE="font: 10pt Times New Roman,serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">B.<FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Buyer desires to purchase and the Company desires to issue and sell, upon the terms and conditions set forth in this Agreement
two 12% secured convertible notes of the Company, in the forms attached hereto as Exhibit A and B in the aggregate principal amount
of $113,000.00 (comprised of the first note (&ldquo;First Note&rdquo;) being in the amount of $56,500.00, and the remaining note
in the amount of $56,500.00, a &ldquo;Back End Note&rdquo;) (together with any note(s) issued in replacement thereof or as a dividend
thereon or otherwise with respect thereto in accordance with the terms thereof, the &ldquo;Note&rdquo;), convertible into shares
of common stock, of the Company (the &ldquo;Common Stock&rdquo;), upon the terms and subject to the limitations and conditions
set forth in such Note. The First Note shall be paid for by the Buyer as set forth herein. The Back End Note shall initially be
paid for by the issuance of an offsetting $56,500.00 secured note issued to the Company by the Buyer (a &ldquo;Buyer Note&rdquo;),
provided that prior to conversion of that Back End Note, the Buyer must have paid off that Buyer Note in cash such that the Back
End Note may not be converted until it has been paid for in cash by Buyer.</P>

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<P STYLE="font: 10pt Times New Roman,serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">C.<FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>The Buyer wishes to purchase, upon the terms and conditions stated in this Agreement, such principal amount of Note as is
set forth immediately below its name on the signature pages hereto; and</P>

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<P STYLE="font: 10pt Times New Roman,serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>NOW THEREFORE</B>, the Company
and the Buyer severally (and not jointly) hereby agree as follows:</P>

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<P STYLE="font: 10pt Times New Roman,serif; margin: 0pt 0; text-align: justify; text-indent: 1in">1.<FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Purchase and Sale of Note.</U></P>

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<P STYLE="font: 10pt Times New Roman,serif; margin: 0pt 0; text-align: justify; text-indent: 1.5in">a.<FONT STYLE="font-family: Times New Roman,serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Purchase of Note</U>. On the Closing Date (as defined below), the Company shall issue and sell to the Buyer and the Buyer
agrees to purchase from the Company such principal amount of Note as is set forth immediately below the Buyer&rsquo;s name on the
signature pages hereto.</P>

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