Waiver of Time for Subsequent Closing VISION OPPORTUNITY MASTER FUND, LTD.
Exhibit 10.3
Waiver of Time for Subsequent Closing
VISION OPPORTUNITY MASTER FUND, LTD.
00 X 00xx Xx., 5th Floor
New York, NY 10019
April 11, 2007
Advanced Growing Systems, Inc.
000 Xxxxx Xxxx Xxxx
Alpharetta, Georgia 30004
Gentlemen:
Reference is made to the Series A Convertible Preferred Stock Purchase Agreement dated as of March 9, 2007 (the “Purchase Agreement”) by and between Advanced Growing Systems, Inc. (the “Company”), and Vision Opportunity Master Fund, Ltd. (the “Investor”), pursuant to which the Investor purchased from the Company shares of Series A Convertible Preferred Stock and Warrants, each convertible or exercisable into shares of the Company’s Common Stock. Capitalized terms used and not otherwise defined herein shall have the meanings given such terms in the Purchase Agreement.
The Investor hereby waives the requirement contained in Section 1.4 of the Purchase Agreement that any Subsequent Closing shall take place no later than March 31, 2007.
| Very truly yours,
VISION OPPORTUNITY MASTER FUND, LTD. | ||
| By: | ||
| Name: | ||
| Title: | ||
