Sales and Purchase of Notes. The aggregate principal amount of the Notes purchased by the Purchasers and issued by the Company at the Initial Tranche Closing shall be $2,500,000 and the aggregate principal amount of the Notes purchased by the Purchasers and issued by the Company at the Second Tranche Closing hereunder is $2,500,000 (collectively, the “Aggregate Principal Amount”). Both the Initial Tranche Notes and the Second Tranche Notes are subject to the terms and conditions of the Subordination Agreement by and among Oxford Finance Corporation, as Administration Agent of the Lenders set forth therein (the “Lenders”) dated as of even date herewith (the “Subordination Agreement”) in the form attached as Exhibit B.
Sales and Purchase of Notes. Subject to the terms and conditions set forth herein, the Company shall issue and sell to Purchaser, and the Purchaser shall purchase from the Company, $750,000 principal amount of Series A 11% Convertible Notes and $250,000 principal amount of Series A 13% Convertible Notes. The Series A 11% Convertible Notes and the Series A 13% Convertible Notes, shall be substantially in the forms annexed hereto as Exhibits A and B, respectively, and the original price that the Series A 11% Convertible Notes and Series A 13% Convertible Notes may be converted into shares of the Company's common stock, $.01 par value per share ("Common Stock"), shall be determined in accordance with the formula and provisions set forth in Exhibits A and B, respectively.
Sales and Purchase of Notes. Subject to the terms and conditions of this Agreement, the Company will issue and sell to you and you will purchase from the Company, at the Closing provided for in Section 3, Notes in the principal amount specified opposite your name in Schedule A at the purchase price of 100% of the principal amount thereof. Contemporaneously with entering into this Agreement, the Company is entering into separate Note Purchase Agreements (the "Other Agreements") identical with this Agreement with each 6 of the other purchasers named in Schedule A (the "Other Purchasers"), providing for the sale at such Closing to each of the Other Purchasers of Notes in the principal amount specified opposite its name in Schedule A. Your obligation hereunder, and the obligations of the Other Purchasers under the Other Agreements, are several and not joint obligations, and you shall have no obligation under any Other Agreement and no liability to any Person for the performance or nonperformance by any Other Purchaser thereunder.
Sales and Purchase of Notes. Subject to the terms and conditions set forth herein, the Company shall issue and sell to Purchaser, and the Purchaser shall purchase from the Company that amount of $1,250,000 aggregate principal amount of Notes and such number of Warrants as equals the quotient of $1,250,000 divided by the Closing Price as set forth on the signature page hereto which are part of the Placement. The Notes and the Warrants, shall be substantially in the forms annexed hereto as Exhibits A and B, respectively, and the original price that the Notes may be converted into shares of Common Stock shall be equal to the average closing sales price, regular way, of the Common Stock, as reported by the American Stock Exchange (“AMEX”), over the five (5) trading days immediately preceding the “Closing Date” (as hereinafter defined) (such average referred to as the “Closing Price”).
Sales and Purchase of Notes. The aggregate purchase price paid by the Purchaser for the Notes purchased by the Purchaser and issued by the Company at the Initial Tranche Closing shall be $300,000; the aggregate purchase price paid by the Purchaser for the Notes purchased by the Purchaser and issued by the Company at the Second Tranche Closing shall be $150,000 and the aggregate purchase price paid by the Purchaser (or Purchaser’s Assigns) for the Notes purchased by the Purchaser (or Purchaser’s Assigns) and issued by the Company at the Third Tranche Closing shall be $150,000 (collectively, the $600,000 payable for all the Notes, the “Aggregate Principal Amount”).
