Securities Purchase Agreement (2017)Full Document 

Start of Preview

1.4

Investor’s Put Option on Note. The Investor has the right, in its sole discretion, to require the Issuer to repurchase the Note from the Investor at any time after 180 days after its Effective Date in an amount equal to 120% of the sum of the Principal Sum plus all accrued and unpaid interest, OID, liquidated damages, fees and other amounts due on such Principal Sum. The Investor must provide the Issuer with at least 45 days advance written notice (the Investor may provide such notice at any time, including prior to the 180th day after the Effective Date of the Note). The Investor may elect to cancel the repurchase notice at any time prior to receiving the repurchase payment from the Issuer. If the Investor cancels a repurchase notice the Investor shall retain the right to subsequently elect to require the Issuer to repurchase the Note from the Investor in the manner provided in this Section. Unless otherwise agreed in writing, all repurchase or other payments must be paid by the Issuer to the Investor by wire transfer of immediately available funds in US Dollars from a U.S. bank account of the Issuer or the Issuer’s attorney as the Investor does not accept payment from any third parties or from non-U.S. bank accounts.

End of Preview