SEC Contract Filing

Filing Date: 2016-02-01

Document Content:
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>exhibit103.htm
<DESCRIPTION>EXHIBIT 10.3
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<P style="margin:0px; font-size:12pt" align=center><FONT style="background-color:#FFFFFF"><B>SECURITIES PURCHASE AGREEMENT</B></FONT></P>
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<P style="margin:0px; font-size:12pt" align=justify><FONT style="background-color:#FFFFFF">This Securities Purchase Agreement (this &#147;Agreement&#148;) is dated as of January 14, 2016, between </FONT>XLI Technologies Inc.<FONT style="background-color:#FFFFFF"> (the &#147;Company&#148;) and each purchaser identified on the signature pages hereto (each, including its successors and assigns, a &#147;Purchaser&#148; and collectively, the &#147;Purchasers&#148;). </FONT></P>
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<P style="margin:0px; font-size:12pt" align=justify><FONT style="background-color:#FFFFFF">WHEREAS, subject to the terms and conditions set forth in this Agreement and pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended (the &#147;Securities Act&#148;), and Rule 506 promulgated thereunder, the Company desires to issue and sell to each Purchaser, and each Purchaser, severally and not jointly, desires to purchase from the Company, securities of the Company as more fully described in this Agreement. </FONT></P>
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<P style="margin:0px; font-size:12pt" align=justify><FONT style="background-color:#FFFFFF">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 each Purchaser agree as follows: </FONT></P>
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<P style="margin:0px; font-size:12pt" align=center><FONT style="background-color:#FFFFFF"><B>ARTICLE I. </B></FONT></P>
<P style="margin:0px; font-size:12pt" align=center><FONT style="background-color:#FFFFFF"><B>DEFINITIONS </B></FONT></P>
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<P style="margin:0px; font-size:12pt" align=justify><FONT style="background-color:#FFFFFF">1.1 &nbsp;&nbsp;Definitions.&nbsp;&nbsp;In addition to the terms defined elsewhere in this Agreement: (a) capitalized terms that are not otherwise defined herein have the meanings given to such terms in the Notes (as defined herein), and (b) the following terms have the meanings set forth in this Section 1.1:</FONT></P>
<P style="margin:0px; font-size:12pt" align=justify><FONT style="background-color:#FFFFFF">&nbsp;</FONT></P>
<P style="margin:0px; padding-left:44px; font-size:12pt" align=justify><FONT style="background-color:#FFFFFF">&#147;Acquiring Person&#148; shall have the meaning ascribed to such term in Section 4.7. </FONT></P>
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<P style="margin:0px; padding-left:44px; font-size:12pt" align=justify><FONT style="background-color:#FFFFFF">&#147;Action&#148; shall have the meaning ascribed to such term in Section 3.1(j). </FONT></P>
<P style="margin:0px; font-size:12pt" align=justify><FONT style="background-color:#FFFFFF">&nbsp;</FONT></P>
<P style="margin:0px; padding-left:44px; font-size:12pt" align=justify><FONT style="background-color:#FFFFFF">&#147;Affiliate&#148; 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 405 under the Securities Act. </FONT></P>
<P style="margin:0px; font-size:12pt" align=justify><FONT style="background-color:#FFFFFF">&nbsp;</FONT></P>
<P style="margin:0px; padding-left:44px; font-size:12pt" align=justify><FONT style="background-color:#FFFFFF">&#147;Board of Directors&#148; means the board of directors of the Company. </FONT></P>
<P style="margin:0px; font-size:12pt" align=justify><FONT style="background-color:#FFFFFF">&nbsp;</FONT></P>
<P style="margin:0px; padding-left:44px; font-size:12pt" align=justify><FONT style="background-color:#FFFFFF">&#147;Business Day&#148; means any day except any Saturday, any Sunday, any day which is a federal legal holiday in the United States or any day on which banking institutions in the State of New York are authorized or required by law or other governmental action to close. </FONT></P>
<P style="margin:0px; font-size:12pt" align=justify><FONT style="background-color:#FFFFFF">&nbsp;</FONT></P>
<P style="margin:0px; padding-left:44px; font-size:12pt" align=justify><FONT style="background-color:#FFFFFF">&#147;Closing Dates&#148; means the Trading Day(s) on which all of the Transaction Documents have been executed and delivered by the applicable parties thereto in connection with a Closing, and all conditions precedent to (i) the Purchasers&#146; obligations to pay the Subscription Amount as to such Closing and (ii) the Company&#146;s obligations to deliver the Securities as to such Closing, in each case, have been satisfied or waived. </FONT></P>
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