Common use of Purchase and Sale of the Notes and the Warrants Clause in Contracts

Purchase and Sale of the Notes and the Warrants. Subject to the terms and conditions set forth herein, at the Closing, the Company shall issue and sell to each Investor, and each Investor shall purchase from the Company, (a) a convertible promissory note, in the form attached hereto as Exhibit A (each, a “Note” and together, the “Notes”), in the principal amount set forth on the signature page hereto executed by such Investor, which shall carry an original issue discount of nine percent (9%), or in the aggregate, up to $890,110 (the “OID”), to cover the Investors’ accounting fees, due diligence fees, monitoring, and/or other transactional costs incurred in connection with the purchase and sale of the Notes, which is included in the principal balance of the Notes (each such amount, the “Principal Amount” of such Note, and all of the Principal Amounts together, the “Aggregate Principal Amount”), with the purchase price of the Notes be computed by subtracting the OID from the Principal Amount, and shall equal in the aggregate, up to nine million Dollars ($9,000,000) (the “Purchase Price”), and (b) a share purchase warrant, in the form attached hereto as Exhibit B (each, a “Warrant” and together, the “Warrants”), registered in the name of such Investor, pursuant to which the Investor shall have the right to acquire Ordinary Shares in the amount set forth on the signature page hereto executed by such Investor, in exchange for each Investor’s respective Funding Amount, as set forth on the signature page hereto executed by such Investor. Each Investor and the Company agree that for U.S. federal income tax purposes and applicable state, local and non-U.S. tax purposes, such Investor’s Funding Amount shall be allocable between their Note and their Warrant based on the relative fair market values thereof. No Investor nor the Company shall take any contrary position on any tax return, or in any audit, claim, investigation, inquiry or proceeding in respect of taxes, unless otherwise required pursuant to a final determination within the meaning of Section 1313 of the Internal Revenue Code of 1986, as amended (the “Code”), or any analogous provision of applicable state, local or non-U.S. law.

Appears in 1 contract

Samples: Debt Modification Agreement (Freight Technologies, Inc.)

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Purchase and Sale of the Notes and the Warrants. Subject to the terms and conditions set forth herein, : (a) at the First Closing, the Company shall issue and sell to each the Investor, and each the Investor shall purchase from the Company, for the First Funding Amount (a) a convertible promissory note, in the form attached hereto as Exhibit A (each, a “Note” and together, the “NotesFirst Note”), in the principal amount set forth on the signature page hereto executed by such Investor, which shall carry an original issue discount of nine percent (9%), or in the aggregate, up to $890,110 (the “OID”), to cover the Investors’ accounting fees, due diligence fees, monitoring, and/or other transactional costs incurred in connection with the purchase and sale of the Notes, which is included in the principal balance of the Notes (each such amount, the “Principal Amount” of such Note, and all of the Principal Amounts together, the “Aggregate Principal Amount”), with the purchase price of the Notes be computed by subtracting the OID from the Principal Amount, and shall equal in the aggregate, up to nine million Five Million Eight Hundred Thousand Dollars ($9,000,0005,800,000) (the “Purchase PriceFirst Principal Amount), ) and (b) a share an Ordinary Shares purchase warrant, in the form attached hereto as Exhibit B (each, a “Warrant” and together, the “Warrants”)B, registered in the name of such the Investor, pursuant to which the Investor shall have the right to acquire 1,146,789 Ordinary Shares in (the amount set forth on “First Warrant”). (b) at the signature page hereto executed by such Second Closing, as applicable, the Company shall issue and sell to the Investor, in exchange and the Investor shall purchase from the Company, for each Investor’s respective the Second Funding Amount, (a) a convertible promissory note, in the form attached hereto as set forth on the signature page hereto executed by such Investor. Each Investor and the Company agree that for U.S. federal income tax purposes and applicable state, local and non-U.S. tax purposes, such Investor’s Funding Amount shall be allocable between their Note and their Warrant based on the relative fair market values thereof. No Investor nor the Company shall take any contrary position on any tax return, or in any audit, claim, investigation, inquiry or proceeding in respect of taxes, unless otherwise required pursuant to a final determination within the meaning of Section 1313 of the Internal Revenue Code of 1986, as amended Exhibit C (the “CodeSecond Note”, and together with the First Note, the “Notes”), or any analogous provision in the principal amount equal to 116% of applicable statethe Second Funding Amount (the “Second Principal Amount”, local or non-U.S. lawand together with the First Principal Amount, the “Principal Amounts”) and (b) an Ordinary Shares purchase warrant, in the form attached hereto as Exhibit D, registered in the name of the Investor, pursuant to which the Investor shall have the right to acquire an amount of Ordinary Shares equal to the Second Funding Amount divided by the average of the ten (10) daily VWAPs immediately prior to the Second Closing Date (as defined below) multiplied by fifty percent (50%) (the “Second Warrant”, and together with the First Warrant, the “Warrants”).

Appears in 1 contract

Samples: Securities Purchase Agreement (G Medical Innovations Holdings Ltd.)

Purchase and Sale of the Notes and the Warrants. Subject to the terms and conditions set forth herein, : (a) at the First Closing, the Company shall issue and sell to each the Investor, and each the Investor shall purchase from the Company, in exchange for the transfer to the Company by Investor of the First Funding Amount on the timing described above to the Company’s bank account the details of which are listed in Exhibit C-1, in cleared funds (a) a convertible promissory note, in the form attached hereto as Exhibit A (each, a “Note” and together, the “NotesFirst Note”), in the principal amount set forth on the signature page hereto executed by such Investor, which shall carry an original issue discount of nine percent (9%), or in the aggregate, up to $890,110 (the “OID”), to cover the Investors’ accounting fees, due diligence fees, monitoring, and/or other transactional costs incurred in connection with the purchase and sale of the Notes, which is included in the principal balance of the Notes (each such amount, the “Principal Amount” of such Note, and all of the Principal Amounts together, the “Aggregate Principal Amount”), with the purchase price of the Notes be computed by subtracting the OID from the Principal Amount, and shall equal in the aggregate, up to nine million Seven Million Two Hundred Thousand Dollars ($9,000,0007,200,000) (the “Purchase PriceFirst Principal Amount), ) and (b) a share an Ordinary Share purchase warrant, in the form attached hereto as Exhibit B (each, a “Warrant” and together, the “Warrants”)B, registered in the name of such the Investor, pursuant to which the Investor shall have the right to acquire the Ordinary Shares in the amount set forth on therein (the signature page hereto executed by such Investor, in exchange for each Investor’s respective Funding Amount, as set forth on the signature page hereto executed by such Investor“First Warrant”). Each The Investor and the Company agree that for U.S. federal income tax purposes and applicable state, local and non-U.S. tax purposes, such Investor’s the Funding Amount shall be allocable between their Note among the Notes and their Warrant the Warrants based on the relative fair market values thereof. No Neither the Investor nor the Company shall take any contrary position on any tax return, or in any audit, claim, investigation, inquiry or proceeding in respect of taxes, unless otherwise required pursuant to a final determination within the meaning of Section 1313 of the Internal Revenue Code of 1986, as amended (the “Code”), or any analogous provision of applicable state, local or non-U.S. law. (b) at the Second Closing, as applicable, the Company shall issue and sell to the Investor, and the Investor shall purchase from the Company, for the Second Funding Amount to the Company’s bank account the details of which are listed in Exhibit C-2, (a) a convertible promissory note, in the form attached hereto as Exhibit A (the “Second Note”, and together with the First Note, the “Notes”), in the principal amount equal to the principal amount of Twelve Million Dollars ($12,000,000) (the “Second Principal Amount”, and together with the First Principal Amount, the “Principal Amounts”) and (b) an Ordinary Shares purchase warrant, in the form attached hereto as Exhibit B, registered in the name of the Investor, pursuant to which the Investor shall have the right to acquire an amount of Ordinary Shares set forth therein (the “Second Warrant”, and together with the First Warrant, the “Warrants”).

Appears in 1 contract

Samples: Securities Purchase Agreement (Hub Cyber Security Ltd.)

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Purchase and Sale of the Notes and the Warrants. Subject to the terms and conditions set forth herein, at the Closing, the Company shall issue and sell to each Investor, and each Investor shall purchase from the Company, (a) a convertible promissory note, in the form attached hereto as Exhibit A B (each, a “Note” and together, the “Notes”), in the principal amount set forth on the signature page hereto executed by such Investor, which shall carry an original issue discount of nine percent (9%), or in the aggregate, up to five hundred ninety-three thousand four hundred seven Dollars ($890,110 593,407) (the “OID”), to cover the Investors’ accounting fees, due diligence fees, monitoring, and/or other transactional costs incurred in connection with the purchase and sale of the Notes, which is included in the principal balance of the Notes (each such amount, the “Principal Amount” of such Note, and all of the Principal Amounts together, the “Aggregate Principal Amount”), with the purchase price of the Notes be computed by subtracting the OID from the Principal Amount, and shall equal in the aggregate, up to nine six million Dollars ($9,000,0006,000,000) (the “Purchase Price”), and (b) a share purchase warrant, in the form attached hereto as Exhibit B C (each, a “Warrant” and together, the “Warrants”), registered in the name of such Investor, pursuant to which the Investor shall have the right to acquire Ordinary Shares in the amount set forth on the signature page hereto executed by such Investor, in exchange for each Investor’s respective Funding Amount, as set forth on the signature page hereto executed by such Investor. Each Investor and the Company agree that for U.S. federal income tax purposes and applicable state, local and non-U.S. tax purposes, such Investor’s Funding Amount shall be allocable between their Note and their Warrant based on the relative fair market values thereof. No Investor nor the Company shall take any contrary position on any tax return, or in any audit, claim, investigation, inquiry or proceeding in respect of taxes, unless otherwise required pursuant to a final determination within the meaning of Section 1313 of the Internal Revenue Code of 1986, as amended (the “Code”), or any analogous provision of applicable state, local or non-U.S. law.

Appears in 1 contract

Samples: Securities Purchase Agreement (Freight Technologies, Inc.)

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