Common use of Purchase and Sale of Notes at the Initial Closing Clause in Contracts

Purchase and Sale of Notes at the Initial Closing. At the Initial Closing described in Paragraph 2.1, CVGI will purchase from the Company, for 100% of their principal amount, $5,000,000 principal amount of Convertible Notes and $5,000,000 principal amount of Exchangeable Notes, and the Company will sell those Convertible Notes and Exchangeable Notes to CVGI.