SEC Contract Filing

Filing Date: 2016-08-25

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>exhibit_10-1.htm
<DESCRIPTION>SECURITIES PURCHASE AGREEMENT WITH COVENTRY, DATED AUGUST 15, 2016
<TEXT>
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<div style="text-align: right; width: 100%; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold">EXHIBIT 10.1</font>
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<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-weight: bold; color: #000000; font-family: Times New Roman; font-size: 13px">SECURITIES PURCHASE AGREEMENT</font></div>
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<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px"><font style="font-family: Times New Roman; font-size: 13px"><font style="color: #000000">This </font><font style="font-weight: bold; color: #000000">SECURITIES PURCHASE AGREEMENT</font><font style="color: #000000"> (the &#x201C;Agreement&#x201D;), dated as of August 15, 2016, by and between </font><font style="font-weight: bold; color: #000000">Friendable, Inc</font><font style="color: #000000">, a Nevada corporation, with headquarters
located at 125 E. Campbell Ave, Campbell CA 95008 (the &#x201C;Company&#x201D;), and </font><font style="font-weight: bold; color: #000000">Coventry Enterprises, LLC.</font><font style="color: #000000">, a Limited Liability Company, with its address at </font>80 S.W. 8<font style="font-size: 70%; vertical-align: top">th</font> Street, Suite 2000, Miami, FL 33130<font style="color: #000000"> (the &#x201C;Buyer&#x201D;).</font></font></div>
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<div style="text-align: center; margin-left: 0px; margin-right: 0px; text-indent: 0px"><font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold; color: #000000">WHEREAS</font><font style="color: #000000">:</font></font></div>
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<div style="text-align: justify; margin-left: 0px; text-indent: 48px"><font style="color: #000000; font-family: Times New Roman; font-size: 13px">A.</font><font id="tab2" style="letter-spacing: 12px; color: black">&#xA0;</font><font style="color: #000000; font-family: Times New Roman; font-size: 13px">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 &#x201C;SEC&#x201D;) under the Securities Act of 1933, as amended (the &#x201C;1933 Act&#x201D;);</font></div>
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<div style="text-align: justify; margin-left: 0px; text-indent: 48px"><font style="color: #000000; font-family: Times New Roman; font-size: 13px">B.</font><font id="tab2" style="letter-spacing: 12px; color: black">&#xA0;</font><font style="color: #000000; font-family: Times New Roman; font-size: 13px">Buyer desires to purchase and the Company desires to issue and sell, upon the terms and conditions set forth in this Agreement an 8% convertible note of the Company, in the form attached hereto as Exhibit A in the aggregate
principal amount of $150,000.00 (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 &#x201C;Note&#x201D;), convertible into shares of common stock, of the Company (the &#x201C;Common Stock&#x201D;), upon the terms and subject to the limitations and conditions set forth in such Note. </font></div>
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<div style="text-align: justify; margin-left: 0px; text-indent: 48px"><font style="color: #000000; font-family: Times New Roman; font-size: 13px">C.</font><font id="tab2" style="letter-spacing: 12px; color: black">&#xA0;</font><font style="color: #000000; font-family: Times New Roman; font-size: 13px">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</font></div>
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<div style="text-align: justify; margin-left: 0px; margin-right: 0px; text-indent: 48px"><font style="font-family: Times New Roman; font-size: 13px"><font style="font-weight: bold; color: #000000">NOW THEREFORE</font><font style="color: #000000">, the Company and the Buyer severally (and not jointly) hereby agree as follows:</font></font></div>
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