On the terms and subject to the conditions set forth herein, on or prior to April 30, 2016 (unless such date is extended with the mutual consent of the Parties)(the “ Third Tranche Closing ” and the “ Third Tranche Closing Date ”), the Purchaser or if applicable, the Purchaser’s Assigns, shall purchase from the Company a Note in the principal amount of $150,000, and the Company shall issue and sell to the Purchaser or the Purchaser’s Assigns such Note (the “ Third Tranche Note ” and such amount, the “ Third Tranche Purchase Price ”).