PURCHASE AGREEMENT
THIS PURCHASE AGREEMENT (“Agreement”)
is made as of the __ day of July, 2009, by and among Waste2Energy, Inc., a
Delaware corporation (the “Company”), Waste2Energy Holdings, Inc., a Delaware
corporation (the “Parent”), and each purchaser identified on the signature pages
hereto (each, including its successors and assign, a “Purchaser”, and
collectively, the “Purchasers”).
Recitals
A. The
Company, the Parent and the Purchasers are executing and delivering this
Agreement in reliance upon the exemption from securities registration afforded
by the provisions of Regulation D (“Regulation D”), as promulgated by the U.S.
Securities and Exchange Commission (the “SEC”) under the Securities Act of 1933,
as amended;
B. Subject
to the terms and conditions set forth in this Agreement, the Company desires to
sell and issue to each Purchaser, and each Purchaser, severally and not jointly,
desires to purchaser from the Company, upon the terms and conditions stated in
this Agreement, Debentures of the Company as more fully described in this
Agreement; and
C. Subject
to the terms and conditions of this Agreement, as an additional inducement to
the Purchasers to purchase the Debentures, the Parent shall issue to the
Purchasers, concurrently with the sale and issuance by the Company of the
Debentures, the Additional Consideration Shares as described in 2(b)
hereof.
In consideration of the mutual promises
made herein and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto agree as
follows:
1. Definitions. In
addition to those terms defined above and elsewhere in this Agreement, for the
purposes of this Agreement, the following terms shall have the meanings set
forth below:
“Additional Consideration
Shares” has the meaning set forth in Section 2(b).
“Affiliate” means,
with respect to any Person, any other Person which directly or indirectly
through one or more intermediaries Controls, is controlled by, or is under
common control with, such Person.
“Business Day” means a
day, other than a Saturday or Sunday, on which banks in New York City are open
for the general transaction of business.
“Closing” means the
closing of the purchase and sale of the Securities pursuant to Section
2.
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“Closing Date” means
the Business Day when all of the Transaction Documents have been executed and
delivered by the applicable parties thereto, and all conditions precedent to (i)
the Purchasers’ obligations to pay the Subscription Amount (ii) the Company’s
obligations to deliver the Debentures, and (iii) the Parent’s obligations to
deliver the Additional Consideration Shares, have been satisfied or
waived.
“Control” (including
the terms “controlling”, “controlled by” or “under common control with”) means
the possession, direct or indirect, of the power to direct or cause the
direction of the management and policies of a Person, whether through the
ownership of voting securities, by contract or otherwise.
“Debenture” means the
10% Debentures, issued by the Company to the Purchasers hereunder, in the form
of Exhibit A attached hereto.
“Escrow Agreement”
means the escrow agreement, in the form of Exhibit B attached hereto, dated as
of the date hereof, among the Company, Xxxxxxx Vista, LLC (the “Placement
Agent”), and Signature Bank, as escrow agent (the “Escrow Agent”).
“Material Adverse
Effect” means a material adverse effect on (i) the assets, liabilities,
results of operations, condition (financial or otherwise), business, or
prospects of the Company or the Parent, as the case may be, taken as a whole, or
(ii) the ability of the Company or the Parent, as the case may be, to perform
its obligations under the Transaction Documents.
“Person” means an
individual, corporation, partnership, limited liability company, trust, business
trust, association, joint stock company, joint venture, sole proprietorship,
unincorporated organization, governmental authority or any other form of entity
not specifically listed herein.
“Principal Amount”
means, as to each Purchaser, the amounts set forth below such Purchaser’s
signature block on the signature pages hereto next to the heading “Principal
Amount,” in United States Dollars, which shall equal such Purchaser’s
Subscription Amount.
“Securities” means the
Debentures and the Additional Consideration Shares.
“Subsidiary” of any
Person means another Person, an amount of the voting securities, other voting
ownership or voting partnership interests of which is sufficient to elect at
least a majority of its Board of Directors or other governing body (or, if there
are no such voting interests, 50% or more of the equity interests of which) is
owned directly or indirectly by such first Person.
“Subscription Amount”
means, as to each Purchaser, the aggregate amount to be paid for Debentures
purchased hereunder as specified below such Purchaser’s name on the signature
page of this Agreement and next to the heading “Subscription Amount,” in United
States dollars and in immediately available funds.
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“Transaction
Documents” means this Agreement, the Debentures and the Escrow
Agreement.
“1933 Act” means the
Securities Act of 1933, as amended, or any successor statute, and the rules and
regulations promulgated thereunder.
2. Purchase and Issuance of the
Debentures and Additional Consideration Shares.
(a) On
the Closing Date, upon the terms and subject to the conditions set forth herein,
substantially concurrent with the execution and delivery of this Agreement by
the parties hereto, (i) the Company agrees to sell, and the Purchasers,
severally and not jointly, agree to purchase, up to an aggregate of $2,500,000
in principal amount of the Debentures, and (ii) the Parent agrees to issue the
Additional Consideration Shares in accordance with Section 2(b). The aggregate
Subscription Amount shall be released in accordance with the Escrow Agreement.
Upon satisfaction of the covenants and conditions set forth in Section 6, the
Closing shall occur at the offices of Sichenzia Xxxx Xxxxxxxx Xxxxxxx LLP or
such other location as the parties shall mutually agree.
(b) Subject
to the terms and conditions of this Agreement, on the Closing Date the Parent
shall issue to each Purchaser shares of the Parent’s common stock equal to such
Purchaser’s Subscription Amount. The issuance described in this Section 2(b)
shall be referred to as “Additional Consideration Shares”. The Purchasers shall
not have registration rights with respect to the Additional Consideration
Shares.
(c) Notwithstanding to
the contrary herein, and for good and valuable consideration the receipt of
which is acknowledged, the Company and the Purchaser hereby acknowledge that the
Purchaser has already purchased a Promissory Note dated June 25, 2009
(“Promissory Note) and such Promissory Note has the same terms and conditions as
the Debentures issued pursuant this Agreement except that it matures 90 days
from June 25, 2009. Without limiting the generality of foregoing, the Purchaser
hereby makes the representations and warranties to the Company set
forth in Section 5 of this Agreement and the Company hereby makes the
representations and warranties to the Purchaser set forth in Section 4 of this
Agreement. Purchaser and the Company also hereby agree that Sections 7 and 8 of
this Agreement shall apply to them as if the Promissory Note were purchased
pursuant to this Agreement.
3. Deliveries.
(a) On
or prior to the Closing Date, the Company shall deliver or cause to be delivered
to each Purchaser the following:
(i) this
Agreement duly executed by the Company;
(ii) a
Debenture with a principal amount equal to such Purchaser’s Subscription Amount,
registered in the name of such Purchaser;
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(b) On
or prior to the Closing Date, the Parent shall deliver to each Purchaser the
following:
(i) this
Agreement duly executed by the Parent;
(ii) a
certificate for such Purchaser’s Additional Consideration Shares, registered in
the name of such Purchaser.
(c) On
or prior to the Closing Date, each Purchaser (i) shall wire to the Escrow Agent,
in accordance with instructions to be provided in writing by the Company, in
immediately available funds such Purchaser’s Subscription Amount, and (ii) shall
deliver or cause to be delivered to the Company this Agreement duly executed by
such Purchaser.
4. Representations and
Warranties of the Company and the Parent. The Company and the
Parent each hereby represent and warrant to each Purchaser that:
4.
1 Organization, Good Standing
and Qualification. The Company and the Parent are each a
corporation duly organized, validly existing and in good standing under the laws
of the jurisdiction of its incorporation and each has all requisite corporate
power and authority to carry on its business as now conducted and to own its
properties. The Company and the Parent are each duly qualified to do
business as a foreign corporation and are each in good standing in each
jurisdiction in which the conduct of its business or its ownership or leasing of
property makes such qualification or leasing necessary unless the failure to so
qualify has not had and could not reasonably be expected to have a Material
Adverse Effect.
4.2 Authorization. The
Company and the Parent each has full power and authority and has taken all requisite
action on the part of the Company and the Parent, as the case may be, its
officers, directors and stockholders necessary for (i) the authorization,
execution and delivery of the Transaction Documents, (ii) the authorization of
the performance of all obligations of the Company and the Parent, as the case
may be, hereunder or thereunder, and (iii) the authorization, issuance (or
reservation for issuance) and delivery of the Securities. The
Transaction Documents constitute the legal, valid and binding obligations of the
Company and the Parent, enforceable against the Company and the Parent in
accordance with their terms, subject to bankruptcy, insolvency, fraudulent
transfer, reorganization, moratorium and similar laws of general applicability,
relating to or affecting creditors’ rights generally.
4.3 Valid
Issuance. The Securities have been duly and validly authorized
and, when issued and paid for pursuant to this Agreement, will be validly
issued, fully paid and nonassessable, and shall be free and clear of all
encumbrances and restrictions (other than those created by the Purchasers),
except for restrictions on transfer set forth in the Transaction Documents or
imposed by applicable securities laws.
4.4 Use of
Proceeds. The net proceeds of the sale of the Debentures
hereunder shall be used by the Company for working capital.
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4.5 No Conflict, Breach,
Violation or Default. The execution, delivery and performance
of the Transaction Documents by the Company and the Parent and the issuance and
sale of the Securities will not conflict with or result in a breach or violation
of any of the terms and provisions of, or constitute a default under (i) the
Company’s or the Parent’s Articles of Incorporation or the Company’s or the
Parent’s Bylaws, each as in effect on the date hereof, or (ii) any statute,
rule, regulation or order of any governmental agency or body or any court,
domestic or foreign, having jurisdiction over the Company or the Parent or any
of their respective assets or properties.
4.6 Brokers and
Finders. No Person will have, as a result of the transactions
contemplated by the Transaction Documents, any valid right, interest or claim
against or upon the Company, the Parent, or any Purchaser for any commission,
fee or other compensation pursuant to any agreement, arrangement or
understanding entered into by or on behalf of the Company or the Parent, other
than a commission in the amount of 10% of the Subscription Amount, and a
non-accountable expense allowance in the amount of 3% of the Subscription
Amount, to be paid to the Placement Agent.
4.7 No Directed Selling Efforts
or General Solicitation. Neither the Company, the Parent nor
any Person acting on behalf of the Company or the Parent has conducted any
general solicitation or general advertising (as those terms are used in
Regulation D) in connection with the offer or sale of any of the
Securities.
4.8 Private
Placement. Assuming the accuracy of the representations
contained herein by the Purchasers, the offer and sale of the Securities to the
Purchasers as contemplated hereby is exempt from the registration requirements
of the 1933 Act.
5. Representations and
Warranties of the Purchasers. Each Purchaser, for itself and
for no other Purchaser, hereby represents and warrants to the Company and the
Parent that:
5.1 Organization and
Existence. Such Purchaser is a validly existing corporation,
limited partnership or limited liability company and has all requisite
corporate, partnership or limited liability company power and authority to
invest in the Securities pursuant to this Agreement.
5.2 Authorization. The
execution, delivery and performance by such Purchaser of the Transaction
Documents to which such Purchaser is a party have been duly authorized and will
each constitute the valid and legally binding obligation of such Purchaser,
enforceable against such Purchaser in accordance with their respective terms,
subject to bankruptcy, insolvency, fraudulent transfer, reorganization,
moratorium and similar laws of general applicability, relating to or affecting
creditors’ rights generally.
5.3 Purchase Entirely for Own
Account. The Securities to be received by such Purchaser
hereunder will be acquired for such Purchaser’s own account, not as nominee or
agent, and not with a view to the resale or distribution of any part thereof in
violation of the 1933 Act, and such Purchaser has no present intention of
selling, granting any participation in, or otherwise distributing the same in
violation of the 1933 Act without prejudice,
however, to such Purchaser’s right at all times to sell or otherwise dispose of
all or any part of such Securities in compliance with applicable federal and
state securities laws. Nothing contained herein shall be deemed a
representation or warranty by such Purchaser to hold the Securities for any
period of time. Such Purchaser is not a broker-dealer
registered with the SEC or an entity engaged in a business that would require it
to be so registered.
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5.4 Investment
Experience. Such Purchaser acknowledges that it can bear the
economic risk and complete loss of its investment in the Securities and has such
knowledge and experience in financial or business matters that it is capable of
evaluating the merits and risks of the investment contemplated
hereby.
5.5 Disclosure of
Information. Such Purchaser has had an opportunity to receive
all information related to the Company and the Parent requested by it and to ask
questions of and receive answers from the Company and the Parent regarding the
Company and the Parent, their business and the terms and conditions of the
offering of the Securities. Neither such inquiries nor any other due
diligence investigation conducted by such Purchaser shall modify, amend or
affect Purchaser’s right to rely on the Company’s and the Parent’s
representations and warranties contained in this Agreement.
5.6 Restricted
Securities. Such Purchaser understands that the Securities are
characterized as “restricted securities” under the U.S. federal securities laws
inasmuch as they are being acquired from the Company and the Parent in a
transaction not involving a public offering and that under such laws and
applicable regulations such securities may be resold without registration under
the 1933 Act only in certain limited circumstances. Such Purchaser understands
that the Company and the Parent are under no obligation to register any of the
Securities under the 1933 Act.
5.7 Legends. It
is understood that, except as provided below, certificates evidencing the
Securities may bear the following or any similar legend:
(a) “The
securities represented hereby may not be transferred unless (i) such securities
have been registered for sale pursuant to the Securities Act of 1933, as
amended, (ii) such securities may be sold pursuant to Rule 144, or (iii) the
Company has received an opinion of counsel reasonably satisfactory to it that
such transfer may lawfully be made without registration under the Securities Act
of 1933 or qualification under applicable state securities
laws. Notwithstanding the foregoing, the securities may be pledged in
connection with a bona fide margin account secured by the
securities.”
(b) If
required by the authorities of any state in connection with the issuance of sale
of the Securities, the legend required by such state authority.
5.8 Accredited
Investor. Such Purchaser is an accredited investor as defined
in Rule 501(a) of Regulation D, as amended, under the 0000 Xxx.
5.9 No General
Advertisement. Such Purchaser did not learn of the investment
in the Securities as a result of any public advertisement, article, notice or
other communication regarding the Securities published in any newspaper,
magazine or similar media or broadcast over television, radio or internet or
presented at any seminar or other general advertisement.
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5.10 Brokers and
Finders. No Person will have, as a result of the transactions
contemplated by the Transaction Documents, any valid right, interest or claim
against or upon the Company, the Parent or such Purchaser for any commission,
fee or other compensation pursuant to any agreement, arrangement or
understanding entered into by or on behalf of such Purchaser, except as set
forth in Section 4.6.
5.11 Patriot
Act. Neither such Purchaser nor any of its Affiliates has been
designated, and is not owned or controlled, by a “suspected terrorist” as
defined in Executive Order 13224. None of the cash used to fund any
portion of such Purchaser’s Subscription Amount has been derived from any
activity that could cause the Company or the Parent to be in violation of the
United States Bank Secrecy Act, the United States International Money Laundering
Control Act of 1986 or the United States International Money Laundering
Abatement and Anti-Terrorist Financing Act of 2001.
6. Conditions to
Closing.
6.1 Conditions to the
Purchasers’ Obligations. The respective obligations of the Purchasers
hereunder in connection with the Closing are subject to the following conditions
being met:
(a) the
accuracy in all material respects when made and on the Closing Date of the
representations and warranties of the Company and the Parent contained
herein;
(b) all
obligations, covenants and agreements of the Company and the Parent required to
be performed at or prior to the Closing Date shall have been
performed;
(c) the
delivery by the Company and the Parent of the items set forth in Section 3(a)
and 3(b) of this Agreement, respectively; and
(d) there
shall have been no Material Adverse Effect with respect to the Company or the
Parent since the date hereof.
6.2 Conditions to Obligations of
the Company and the Parent. The obligations of the Company and the Parent
in connection with the Closing are subject to the following conditions being
met:
(a) the
accuracy in all material respects on the Closing Date of the representations and
warranties of the Purchasers contained herein;
(b) all
obligations, covenants and agreements of each Purchaser required to be performed
at or prior to the Closing Date shall have been performed;
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(c) the
delivery by each Purchaser of the items set forth in Section 3(c) of this
Agreement;
(d) the
Placement Agent and the Escrow Agent shall have entered into the Escrow
Agreement.
7. Survival and
Indemnification.
7.1 Survival. The
representations, warranties, covenants and agreements contained in this
Agreement shall survive the Closing of the transactions contemplated by this
Agreement.
7.2 Indemnification. The
Company and the Parent agree jointly and severally to indemnify and hold
harmless each Purchaser and its Affiliates and their respective directors,
officers, employees and agents from and against any and all losses, claims,
damages, liabilities and expenses (including without limitation reasonable
attorney fees and disbursements and other expenses incurred in connection with
investigating, preparing or defending any action, claim or proceeding, pending
or threatened and the costs of enforcement thereof) (collectively, “Losses”) to
which such Person may become subject as a result of any breach of
representation, warranty, covenant or agreement made by or to be performed on
the part of the Company or the Parent under the Transaction Documents and will
reimburse any such Person for all such amounts as they are incurred by such
Person; unless such action is based upon a breach of such Purchaser’s
representations, warranties or covenants under the Transaction Documents which
causes a material adverse effect on the Company or the Parent or any conduct by
such Purchaser which constitutes fraud, gross negligence, willful misconduct or
malfeasance related to the transactions contemplated by the Transaction
Documents.
7.3 Conduct of Indemnification
Proceedings. Promptly
after receipt by any Person (the “Indemnified Person”) of
notice of any demand, claim or circumstances which would or might give rise to a
claim or the commencement of any action, proceeding or investigation in respect
of which indemnity may be sought pursuant to Section 7.2, such Indemnified
Person shall promptly notify the Company or the Parent in writing and the
Company or the Parent shall assume the defense thereof, including the employment
of counsel reasonably satisfactory to such Indemnified Person, and shall assume
the payment of all fees and expenses; provided, however, that the failure of any
Indemnified Person so to notify the Company or the Parent shall not relieve the
Company or the Parent of its obligations hereunder except to the extent that the
Company or the Parent is materially prejudiced by such failure to
notify. In any such proceeding, any Indemnified Person shall have the
right to retain its own counsel, but the fees and expenses of such counsel shall
be at the expense of such Indemnified Person unless: (i) the Company or the
Parent, as the case may be, and the Indemnified Person shall have mutually
agreed to the retention of such counsel; or (ii) in the reasonable judgment of
counsel to such Indemnified Person representation of both parties by the same
counsel would be inappropriate due to actual or potential differing interests
between them. The Company and the Parent shall not be liable for any
settlement of any proceeding effected without its respective written consent,
which consent shall not be unreasonably withheld, but if settled with such
consent, or if there be a final judgment for the plaintiff, the Company or the
Parent shall indemnify and hold harmless such Indemnified Person from and
against any loss or liability (to the extent stated above) by reason of such
settlement or judgment. Without the prior written consent of the
Indemnified Person, which consent shall not be unreasonably withheld, the
Company and the Parent shall not effect any settlement of any pending or
threatened proceeding in respect of which any Indemnified Person is or could
have been a party and indemnity could have been sought hereunder by such
Indemnified Party, unless such settlement includes an unconditional release of
such Indemnified Person from all liability arising out of such
proceeding.
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8. Miscellaneous.
8.1 Successors and
Assigns. This Agreement may not be assigned by a party hereto
without the prior written consent of the Company and the Parent, or each
Purchaser, as applicable, provided, however, that any Purchaser may assign its
rights and delegate its duties hereunder in whole or in part to an Affiliate or
to a third party acquiring some or all of its Securities in a private
transaction without the prior written consent of the Company or the Parent,
after notice duly given by such Purchaser to the Company or the Parent provided,
that no such assignment or obligation shall affect the obligations of such
Purchaser hereunder. The provisions of this Agreement shall inure to
the benefit of and be binding upon the respective permitted successors and
assigns of the parties. Nothing in this Agreement, express or
implied, is intended to confer upon any party other than the parties hereto or
their respective successors and assigns any rights, remedies, obligations, or
liabilities under or by reason of this Agreement, except as expressly provided
in this Agreement.
8.2 Counterparts;
Faxes. This Agreement may be executed in two or more
counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument. This Agreement
may also be executed via facsimile, which shall be deemed an
original.
8.3 Titles and
Subtitles. The titles and subtitles used in this Agreement are
used for convenience only and are not to be considered in construing or
interpreting this Agreement.
8.4 Notices. Unless
otherwise provided, any notice required or permitted under this Agreement shall
be given in writing and shall be deemed effectively given as hereinafter
described (i) if given by personal delivery, then such notice shall be deemed
given upon such delivery, (ii) if given by telex or telecopier, then such notice
shall be deemed given upon receipt of confirmation of complete transmittal,
(iii) if given by mail, then such notice shall be deemed given upon the earlier
of (A) receipt of such notice by the recipient or (B) three days after such
notice is deposited in first class mail, postage prepaid, and (iv) if given by
an internationally recognized overnight air courier, then such notice shall be
deemed given one Business Day after delivery to such carrier. All
notices shall be addressed to the party to be notified at the address as
follows, or at such other address as such party may designate by ten days’
advance written notice to the other party:
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If to the Company
or the
Parent: Waste2Energy
Holdings, Inc.
0000
Xxxxxx xx xxx Xxxxxxxx, 00xx
Xxxxx
Xxx Xxxx,
XX 00000
With a copy
to: Xxxx Xxxx,
Esq.
Sichenzia Xxxx Xxxxxxxx
Xxxxxxx LLP
00
Xxxxxxxx, Xxx Xxxx, Xxx Xxxx 00000
If to a Purchaser, to the address set
forth on such Purchaser’s signature page.
8.5 Expenses. The
parties hereto shall pay their own costs and expenses in connection herewith. In
the event that legal proceedings are commenced by any party to this Agreement
against another party to this Agreement in connection with this Agreement or the
other Transaction Documents, the party or parties which do not prevail in such
proceedings shall severally, but not jointly, pay their pro rata share of the
reasonable attorneys’ fees and other reasonable out-of-pocket costs and expenses
incurred by the prevailing party in such proceedings.
8.6 Amendments and
Waivers. Any term of this Agreement may be amended and the
observance of any term of this Agreement may be waived (either generally or in a
particular instance and either retroactively or prospectively), only with the
written consent of the Company, the Parents and the Purchasers holding at least
50% of the outstanding principal amount of the Debentures. Any amendment or
waiver effected in accordance with this paragraph shall be binding upon each
holder of any Securities purchased under this Agreement at the time outstanding,
each future holder of all such Securities, the Company, and the
Parent.
8.7 Publicity. Except
as set forth below, no public release or announcement concerning the
transactions contemplated hereby shall be issued by the Company, the Parent or
any Purchaser without the prior consent of the Company or the Parent (in the
case of a release or announcement by a Purchaser) or each Purchaser (in the case
of a release or announcement by the Company or the Parent) (which consents shall
not be unreasonably withheld), except as such release or announcement may be
required by law or the applicable rules or regulations of any securities
exchange or securities market, in which case the Company, the Parent or the
Purchasers, as the case may be, shall allow the Purchasers, the Company, or the
Parent as applicable, to the extent reasonably practicable in the circumstances,
reasonable time to comment on such release or announcement in advance of such
issuance. Without limiting the generality of the foregoing, no
provision of this Agreement shall prohibit or restrict the Company or the Parent
from disclosing the content and terms of this Agreement in any filing with the
Securities and Exchange Commission.
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8.8 Severability. Any
provision of this Agreement that is prohibited or unenforceable in any
jurisdiction shall, as to such jurisdiction, be ineffective to the extent of
such prohibition or unenforceability without invalidating the remaining
provisions hereof but shall be interpreted as if it were written so as to be
enforceable to the maximum extent permitted by applicable law, and any such
prohibition or unenforceability in any jurisdiction shall not invalidate or
render unenforceable such provision in any other jurisdiction. To the
extent permitted by applicable law, the parties hereby waive any provision of
law which renders any provision hereof prohibited or unenforceable in any
respect.
8.9 Entire
Agreement. This Agreement (including all Exhibits hereto) and
the Debentures constitute the entire agreement among the parties hereof with
respect to the subject matter hereof and thereof and supersede all prior
agreements and understandings, both oral and written, between the parties with
respect to the subject matter hereof and thereof.
8.10 Further
Assurances. The parties shall execute and deliver all such
further instruments and documents and take all such other actions as may
reasonably be required to carry out the transactions contemplated hereby and to
evidence the fulfillment of the agreements herein contained.
8.11 Governing Law; Consent to
Jurisdiction; Waiver of Jury Trial. This Agreement shall be
governed by, and construed in accordance with, the internal laws of the State of
New York without regard to the choice of law principles thereof. Each
of the parties hereto irrevocably submits to the exclusive jurisdiction of the
courts of the State of New York located in New York County and the United States
District Court for the Southern District of New York for the purpose of any
suit, action, proceeding or judgment relating to or arising out of this
Agreement and the transactions contemplated hereby. Service of
process in connection with any such suit, action or proceeding may be served on
each party hereto anywhere in the world by the same methods as are specified for
the giving of notices under this Agreement. Each of the parties
hereto irrevocably consents to the jurisdiction of any such court in any such
suit, action or proceeding and to the laying of venue in such
court. Each party hereto irrevocably waives any objection to the
laying of venue of any such suit, action or proceeding brought in such courts
and irrevocably waives any claim that any such suit, action or proceeding
brought in any such court has been brought in an inconvenient forum. EACH OF THE PARTIES HERETO WAIVES ANY
RIGHT TO REQUEST A TRIAL BY JURY IN ANY LITIGATION WITH RESPECT TO THIS
AGREEMENT AND REPRESENTS THAT COUNSEL HAS BEEN CONSULTED SPECIFICALLY AS TO THIS
WAIVER.
[signature
page follows]
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IN WITNESS WHEREOF, the parties have
executed this Agreement or caused their duly authorized officers to execute this
Agreement as of the date first above written.
The Company: | WASTE2ENERGY, INC. | ||
|
By:
|
/s/ | |
Name | |||
Title | |||
The Parent: | WASTE2ENERGY HOLDINGS, INC | ||
|
By:
|
/s/ | |
Name | |||
Title | |||
.
[REMAINDER
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SIGNATURE
PAGE FOR PURCHASER FOLLOWS]
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[PURCHASER
SIGNATURE PAGES TO WASTE2ENERGY PURCHASE AGREEMENT]
IN
WITNESS WHEREOF, the undersigned have caused this Purchase Agreement to be duly
executed by their respective authorized signatories as of the date first
indicated above.
Name of
Purchaser:
_____________________________________________________________________________________________________________
Signature of Authorized Signatory of
Purchaser:
______________________________________________________________________________________
Name of
Authorized Signatory:
____________________________________________________________________________________________________
Title of
Authorized Signatory:
_____________________________________________________________________________________________________
Email
Address of Authorized Signatory:
_____________________________________________________________________________________________
Facsimile
Number of Authorized Signatory:
___________________________________________________________________________________________
Address
for Notice of Purchaser:
Address
for Delivery of Securities for Purchaser (if not same as address for
notice):
Subscription
Amount: _____________
Principal
Amount (1 x Subscription
Amount): _____________
Additional
Consideration Shares (equals Subscription Amount):
_________________
EIN
Number: [PROVIDE
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