Purchase and Sale of Convertible Note. (a) Subject to the terms and conditions set forth herein, the Company agrees to issue and sell to Purchaser, and Purchaser agrees to purchase from the Company, the Convertible Note. (b) Purchaser shall acquire the Convertible Note on the Closing Date in an aggregate principal amount of One Million Two Hundred Eighty-five Thousand Dollars ($1,285,000.00). (c) In connection with the Purchaser's agreement to purchase the Convertible Note specified in this Article II, the Company shall issue and deliver to the Purchaser on the Closing Date Warrants to purchase an aggregate of 300,000 shares of Common Stock.
Appears in 3 contracts
Samples: Securities Purchase Agreement (ERF Wireless, Inc.), Securities Purchase Agreement (ERF Wireless, Inc.), Securities Purchase Agreement (ERF Wireless, Inc.)
Purchase and Sale of Convertible Note. (a) Subject to the terms and conditions set forth herein, the Company agrees to issue and sell to Purchaser, and Purchaser agrees to purchase from the Company, the Convertible Note.
(b) Purchaser shall acquire the Convertible Note on the Closing Date in an aggregate principal amount of One Million Two Five Hundred Eighty-five Thousand Dollars ($1,285,000.001,500,000.00).
(c) In connection with the Purchaser's agreement to purchase the Convertible Note specified in this Article II, the Company shall issue and deliver to the Purchaser on the Closing Date Warrants a Warrant to purchase an aggregate of 300,000 500,000 shares of Common Stock.
Appears in 1 contract
