convertiblepromissorynotepurchaseagreement.docx

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1、fNEWCO,INC.CONVERTIBLEPROMISSORYNOTEPURCHASEAGREEMENTThisConvertiblePromissoryNotePurchaseAgreement(theAgreement)ismadeasof,20_(theiiEffectiveDate)byandamongNevvco,Inc.,aDelawarecorporation(theiiCompany),andthepersonsandentitiesnamedontheScheduleofPurchasersattachedhereto(individually,aPurchaser“and

2、collectively,the“Purchasers)RecitalToprovidetheCompanywithadditionalresourcestoconductitsbusiness,thePurchasersarewillingtoloantotheCompanyinoneormoredisbursementsuptoanaggregateamountof$,subjecttotheconditionsspecifiedherein.AgreementNOW,THEREFORE,inconsiderationoftheforegoing,andtherepresentations

3、,warranties,covenantsandconditionssetforthbelow,theCompanyandeachPurchaser,intendingtobelegallybound,herebyagreeasfollows:1. AmountandTermsoftheLoan1.1 TheLoan.SubjecttothetermsofthisAgreement,eachPurchaseragreestolendtotheCompanyattheClosing(ashereinafterdefined)theamountsetforthoppositesuchPurchas

4、ersnameontheScheduleofPurchasersattachedtothisAgreement(each,aikLoanAmoutiC)againsttheissuanceanddeliverybytheCompanyofaconvertiblepromissorynoteforsuchamount,insubstantiallytheformattachedheretoasExhibitA(each,aNoteandcollectively,theNotes“).2. ClosingandDelivery2.1 Closing.Theclosingofthesaleandpu

5、rchaseoftheNotes(the“Closing”)shallbeheldontheEffectiveDate,oratsuchothertimeastheCompanyandPurchasersmaymutuallyagree(suchdateishereinafterreferredtoasthe“ClosingDate).2.2 SubsequentSalesofNotes.Atanytimeonorbeforethe1dayfollowingtheClosing,theCompanymaysellNotesrepresentinguptothebalanceoftheautho

6、rizedprincipalamountnotsoldattheClosing(theAdditionalPurchasers).Allsuchsalesmadeatanyadditionalclosings(eachaniiAdditionalClosing)shallbemadeonthetermsandconditionssetforthinthisAgreementand(i)therepresentationsandwarrantiesoftheCompanysetforthinSection3hereofshallspeakasoftheClosingandtheCompanysh

7、allhavenoobligationtoupdateanydisclosurerelatedthereto,and(ii)therepresentationsandwarrantiesoftheAdditionalPurchasersinSection4hereofshallspeakasofsuchAdditionalClosing.ThisNote:Typicallythiswouldbe180daysorfewerfromtheinitialClosing.Agreement,includingwithoutlimitation,theScheduleofPurchasers,mayb

8、eamendedbytheCompanywithouttheconsentofPurchaserstoincludeanyAdditionalPurchasersupontheexecutionbysuchAdditionalPurchasersofacounterpartsignaturepagehereto.AnyNotessoldpursuanttothisSection2.2shallbedeemedtobe“Notes,“forallpurposesunderthisAgreementandanyAdditionalPurchasersthereofshallbedeemedtobe

9、“Purchasers”forallpurposesunderthisAgreement.2.3 Delivery.AttheClosingandeachAdditionalClosing(i)eachPurchasershalldelivertotheCompanyacheckorwiretransferfundsintheamountofsuchPurchasersLoanAmount;and(ii)theCompanyshallissueanddelivertoeachPurchaseraNoteinfavorofsuchPurchaserpayableintheprincipalamo

10、untofsuchPurchasersLoanAmount.3. Representations,WarrantiestheCompanyTheCompanyherebyrepresentsandwarrantstoeachPurchaserasoftheClosingasfollows:3.1 Organization,GoodStandingandQualication.TheCompanyisacorporationdulyorganized,validlyexistingandingoodstandingunderthelawsoftheStateofDelaware.TheCompa

11、nyhastherequisitecorporatepowertoownandoperateitspropertiesandassetsandtocarryonitsbusinessasnowconductedandasproposedtobeconducted.TheCompanyisdulyqualifiedandisauthorizedtodobusinessandisingoodstandingasaforeigncorporationinalljurisdictionsinwhichthenatureofitsactivitiesandofitsproperties(bothowne

12、dandleased)makessuchqualificationnecessary,exceptforthosejurisdictionsinwhichfailuretodosowouldnothaveamaterialadverseeffectontheCompanyoritsbusiness.3.2 CorporatePower.TheCompanyhasallrequisitecorporatepowertoexecuteanddeliverthisAgreement,toissueeachNote(collectively,the“LoanDocuments)andtocarryou

13、tandperformitsobligationsunderthetermsoftheLoanDocuments.3.3 Authorization.AllcorporateactiononthepartoftheCompany,itsdirectorsanditsstockholdersnecessaryfortheauthorizationoftheLoanDocumentsandtheexecution,deliveryandperformanceofallobligationsoftheCompanyundertheLoanDocuments,includingtheissuancea

14、nddeliveryoftheNotesandthereservationoftheequitysecuritiesissuableuponconversionoftheNotes(collectively,theiiConversioiiSecurities)hasbeentakenorwillbetakenpriortotheissuanceofsuchConversionSecurities.TheLoanDocuments,whenexecutedanddeliveredbytheCompany,shallconstitutevalidandbindingobligationsofth

15、eCompanyenforceableinaccordancewiththeirterms,subjecttolawsofgeneralapplicationrelatingtobankruptcy,insolvency,thereliefofdebtorsand,withrespecttorightstoindemnity,subjecttofederalandstatesecuritieslaws.TheConversionSecurities,whenissuedincompliancewiththeprovisionsoftheLoanDocumentswillbevalidlyiss

16、ued,fullypaidandnonassessableandfreeofanyliensorencumbrancesandissuedincompliancewithallapplicablefederalandsecuritieslaws.3.4 GovernmentalConsents.Allconsents,approvals,orders,orauthorizationsof,orregistrations,qualifications,designations,declarations,orfilingswith,anygovernmentalauthority,requiredonthepartoftheCompanyinconnectionwiththevalidexecutionanddeliveryofthisAgreement,theoffer,saleorissuanceoftheNotesandtheConversionSecur