Common use of PURCHASE AND SALE OF THE CONVERTIBLE NOTE Clause in Contracts

PURCHASE AND SALE OF THE CONVERTIBLE NOTE. Upon the terms and conditions herein contained, at the Closing (as hereinafter defined), the Seller hereby sells, assigns and transfers to the Buyer and the Buyer agrees to purchase from the Seller the "Transferred Rights" of the Seller and all rights thereto, free and clear of all liens, claims, pledges, mortgages, restrictions, obligations, security interests and encumbrances of any kind, nature and description. Transferred Rights shall mean all rights with respect to $20,000 in principal (the "Assigned Portion") under that convertible promissory note in the amount of $147,062.00 issued by Titan Iron Ore Corp. ("Borrower" or "Company") on October 18, 2012 and currently outstanding in the amount of $147,062.00, a true and correct copy which has been provided to New Venture Attorneys, P.C. (the "Note"). The Assigned Portion of the Note has been amended by the Company on November 4, 2013 to read substantially in the form attached hereto as Exhibit A. By its signatures hereto the Borrower accepts the assignment of the Transferred Rights to Buyer and agrees that Buyer may convert the Transferred Rights into shares of the Company's common stock.

Appears in 2 contracts

Samples: Debt Purchase Agreement (Titan Iron Ore Corp.), Debt Purchase Agreement (Titan Iron Ore Corp.)

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PURCHASE AND SALE OF THE CONVERTIBLE NOTE. Upon the terms and conditions herein contained, at the Closing (as hereinafter defined), the Seller hereby sells, assigns and transfers to the Buyer and the Buyer agrees to purchase from the Seller the "Transferred Rights" of the Seller and all rights thereto, free and clear of all liens, claims, pledges, mortgages, restrictions, obligations, security interests and encumbrances of any kind, nature and description. Transferred Rights shall mean all rights with respect to $20,000 34,159 in principal (the "Assigned Portion") under that convertible promissory note in the amount of $147,062.00 issued by Titan Iron Ore Corp. ("Borrower" or "Company") on October 18, 2012 and currently outstanding in the amount of $147,062.002012, a true and correct copy which has been provided to New Venture Attorneys, P.C. (the "Note"). The Assigned Portion of the Note has been amended by the Company on November 4, 2013 to read substantially in the form attached hereto as Exhibit A. By its signatures hereto the Borrower accepts the assignment of the Transferred Rights to Buyer and agrees that Buyer may convert the Transferred Rights into shares of the Company's ’s common stock.

Appears in 1 contract

Samples: Debt Purchase Agreement (Titan Iron Ore Corp.)

PURCHASE AND SALE OF THE CONVERTIBLE NOTE. Upon the terms and conditions herein contained, at the Closing (as hereinafter defined), the Seller hereby sells, assigns and transfers to the Buyer and the Buyer agrees to purchase from the Seller the "Transferred Rights" of the Seller and all rights thereto, free and clear of all liens, claims, pledges, mortgages, restrictions, obligations, security interests and encumbrances of any kind, nature and description. Transferred Rights shall mean all rights with respect to $20,000 35,000.00 in principal (the "Assigned Portion") under that $330,000.00 convertible promissory secured redeemable note in the amount of $147,062.00 issued by Titan Iron Ore Corp. SUREPURE, INC. ("Borrower" or "Company") to the Seller on October 18February 11, 2012 and currently outstanding in the amount of $147,062.002016, a true and correct copy which has been provided to New Venture Attorneys, P.C. (the "Note"). The Assigned Portion of the Note has been amended by the Company on November 4, 2013 to read substantially in the form attached hereto as Exhibit A. By its signatures hereto the Borrower accepts the assignment of the Transferred Rights to Buyer and agrees that Buyer may convert the Transferred Rights into shares of the Company's ’s common stock.

Appears in 1 contract

Samples: Debt Purchase Agreement (SurePure, Inc.)

PURCHASE AND SALE OF THE CONVERTIBLE NOTE. Upon the terms and conditions herein contained, at the Closing (as hereinafter defined), the Seller hereby sells, assigns and transfers to the Buyer and the Buyer agrees to purchase from the Seller the "Transferred Rights" of the Seller and all rights thereto, free and clear of all liens, claims, pledges, mortgages, restrictions, obligations, security interests and encumbrances of any kind, nature and description. Transferred Rights shall mean all rights with respect to $20,000 36,710.00 in principal (the "Assigned Portion") under that convertible promissory note in the amount of $147,062.00 41,711.00 issued by Titan Iron Ore Corp. Big Tree Group, Inc. ("Borrower" or "Company") on October 18May 10, 2012 and currently outstanding in the amount of $147,062.00, a true and correct copy which has been provided to New Venture Attorneys, P.C. (the "Note"). The Assigned Portion of the Note has been amended by the Company on November 4, 2013 to read substantially in the form attached hereto as Exhibit A. By its signatures hereto the Borrower accepts the assignment of the Transferred Rights to Buyer and agrees that Buyer may convert the Transferred Rights into shares of the Company's ’s common stock.

Appears in 1 contract

Samples: Debt Purchase Agreement (Big Tree Group, Inc.)

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PURCHASE AND SALE OF THE CONVERTIBLE NOTE. Upon the terms and conditions herein contained, at the Closing (as hereinafter defined), the Seller hereby sells, assigns and transfers to the Buyer and the Buyer agrees to purchase from the Seller the "Transferred Rights" of the Seller and all rights thereto, free and clear of all liens, claims, pledges, mortgages, restrictions, obligations, security interests and encumbrances of any kind, nature and description. Transferred Rights shall mean all rights with respect to $20,000 30,000.00 in principal (the "Assigned Portion") under that $127,500 convertible promissory note in the amount of $147,062.00 notes issued by Titan Iron Ore Tungsten Corp. ("Borrower" or "Company") on October 18January 2, 2012 and currently outstanding in the amount of $147,062.002014, a true and correct copy which has been provided to New Venture Attorneys, P.C. (the "Note"). The Assigned Portion of the Note has been amended by the Company on November 4, 2013 to read substantially in the form attached hereto as Exhibit A. By its signatures hereto the Borrower accepts the assignment of the Transferred Rights to Buyer and agrees that Buyer may convert the Transferred Rights into shares of the Company's common stock.

Appears in 1 contract

Samples: Debt Purchase Agreement (Tungsten Corp.)

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