Common use of Purchase of the Note Clause in Contracts

Purchase of the Note. Subject to the terms of this Agreement, for consideration of Six Hundred Fifty Thousand Dollars ($650,000.00) in cash and in immediately available funds (the “Consideration”), the Purchaser agrees to subscribe for and purchase from 1847 on the Closing Date (as hereinafter defined), and 1847 agrees to issue and sell to the Purchaser, (i) the Note, (ii) the Warrant, (iii) the Equity Interest and (iv) the Commitment Shares.