Attention:
Exhibit 10.3
0000 Xxxxx Xxxxxx Xxxx., #000
Xxxxxxx Xxxxx, Xxxxxxxxxx 00000
April
, 2008
Attention: |
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Dear
:
This letter agreement (this “Agreement”)
will memorialize our agreement pursuant to which
Tri-Isthmus Group, Inc. (“TI Group”) will provide
with
shares of its Series 6-A Convertible Preferred Stock, par value $0.01 per share
(the “Shares”) in complete satisfaction of that certain convertible promissory note dated
as of October 29, 2007 (the “Note”) between TIGroup, Surgical Center Acquisition Holdings,
Inc., Del Mar Acquisition, Inc., Del Mar GenPar, Inc., Point Loma Acquisition, Inc., and Point Loma
GenPar, Inc., as makers (the “Makers”), and
, as holder.
acknowledges and agrees that the Shares constitute payment
in full of the Note
and hereby releases the property of the Makers from all liens or encumbrances held by
related to the Note, without regard to how they were created or evidenced.
By executing this agreement,
hereby represents that (i)
is an
“accredited investor” as that term is defined in Rule 501(a) of Regulation D promulgated under the
Securities Act of 1933, as amended (the “Securities Act”), (ii) the Shares to be acquired
by
will be acquired for investment for
’s own account, not as a
nominee or agent, and not with a view to the resale or distribution of any part thereof,
(iii)
has no present intention of selling, granting any
participation in, or
otherwise distributing the same, (iv)
does not presently
have any contract,
undertaking, agreement or arrangement with any person to sell, transfer or grant participations to
such person or to any third person, with respect to any of the Shares, and (v)
has not been formed for the specific purpose of acquiring the Shares.
acknowledges and agrees that it has made all inquiry concerning TI Group, its
business and its personnel necessary in its opinion to make its decision to invest in the Shares.
The officers of TI Group have made available to
any and all information which
has requested and have answered to
’s satisfaction all inquiries
made by
; and
has sufficient knowledge and
experience in finance
and business that it is capable of evaluating the risks and merits of its investment in TI Group
and
is able financially to bear the risks thereof.
understands and agrees that the issuance of the Shares (and the common stock of
TI Group issuable upon conversion of the Shares) has not been registered under the Securities Act,
by reason of a specific exemption from the registration provisions of the Securities Act which
depends upon, among other things, the bona fide nature of the investment intent and the accuracy of
’s representations as expressed herein.
understands that the
Shares and the common stock issuable upon conversion of the Shares are “restricted securities”
under applicable U.S. federal and state securities laws and that, pursuant to these laws,
must hold the Shares and such common
stock indefinitely unless the resales of
same are registered with the SEC and qualified by state authorities, or an exemption from such
registration and qualification requirements is available, and that TI Group has no obligation to
register or qualify the resale of the Shares or the common stock issuable upon conversion of the
Shares for resale.
further acknowledges that if an exemption from registration
or qualification is available, it may be conditioned on various requirements including, but not
limited to, the time and manner of sale, the holding period for the Shares and the common stock
issuable upon conversion of the Shares, and on requirements relating to TI Group which are outside
of
’s control,
and which TI Group is under no obligation and may not be able to
satisfy.
If this letter agreement is
acceptable to you, please indicate your acceptance by executing and
returning a copy of this letter agreement to the undersigned.
Sincerely,
Xxxxx Xxxxxxxxxx
Chairman/Chief Executive Officer
TIGroup™
Chairman/Chief Executive Officer
TIGroup™
ACKNOWLEDGED AND AGREED
THIS DAY OF APRIL, 2008:
THIS DAY OF APRIL, 2008:
Signature: |
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Printed name: |
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