3% ORIGINAL ISSUE DISCOUNT SENIOR CONVERTIBLE PROMISSORY NOTE DUE ___________, 202_Appliance Recycling Centers of America Inc /Mn • November 15th, 2016 • Retail-home furniture, furnishings & equipment stores • Nevada
THIS 3% ORIGINAL ISSUE DISCOUNT SENIOR CONVERTIBLE PROMISSORY NOTE is a duly authorized and validly issued 3% Original Issue Discount Senior Convertible Promissory Note of Appliance Recycling Centers of America, Inc., a Minnesota corporation (the “Company” or the “Borrower”), having its principal place of business at 175 Jackson Avenue North, Suite 102, Minneapolis, Minnesota 55343-4565, designated as its 3% Original Issue Discount Senior Convertible Promissory Note due ___________, 202_ (the “Note”).
SECURITIES PURCHASE AGREEMENTSecurities Purchase Agreement • November 15th, 2016 • Appliance Recycling Centers of America Inc /Mn • Retail-home furniture, furnishings & equipment stores • Nevada
This Securities Purchase Agreement (this “Agreement”) is dated as of November 8, 2016, by and between Appliance Recycling Centers of America, Inc., a Minnesota corporation (the “Company”), and the purchaser identified on the signature page hereto (including its successors and assigns, the “Purchaser”).
COMMON STOCK PURCHASE WARRANT APPLIANCE RECYCLING CENTERS OF AMERICA, INC.Appliance Recycling Centers of America Inc /Mn • November 15th, 2016 • Retail-home furniture, furnishings & equipment stores
THIS COMMON STOCK PURCHASE WARRANT (the “Warrant”) certifies that, for value received, Energy Efficiency Investments, LLC, or its assigns (the “Holder”) is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time on or after ___________, 201_ (the “Initial Exercise Date”), and on or prior to the close of business on the five-year anniversary of the Initial Exercise Date (the “Termination Date”) but not thereafter, to subscribe for and purchase from Appliance Recycling Centers of America, Inc., a Minnesota corporation (the “Company”), up to _________ shares (as subject to adjustment hereunder, the “Warrant Shares”) of Common Stock. The purchase price of one share of Common Stock under this Warrant shall be equal to the Exercise Price, as defined in Section 2(b).
