Common use of Agreement to Execute Clause in Contracts

Agreement to Execute. and Deliver the Debenture Agreement and the Debenture. The Company will borrow $2,500,000 from the Purchaser in reliance upon the representations and warranties of the Company contained in this Agreement. The Purchaser will lend such sum to the Company, upon the terms and conditions hereinafter set forth. The Debenture shall pay eight (8%) percent interest per annum, payable in common stock at the time of each Conversion Date. Such loan shall occur on the Closing Date and shall accrue interest from the Closing Date.

Agreement to Execute. and Deliver the Debenture Agreement and the Debenture. The Company will borrow One Million, Seven Hundred Thousand ($2,500,000 1,700,000) Dollars from the Purchaser in reliance upon the representations and warranties of the Company Purchaser contained in this Agreement. The Purchaser will lend such sum to the Company, in reliance upon the terms representations and conditions hereinafter set forth. The Debenture shall pay eight (8%) percent interest per annum, payable warranties of the Company contained in common stock at the time of each Conversion Datethis Agreement. Such loan shall occur on the Closing Date and shall accrue interest from the Closing Date.