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EXHIBIT 4.1
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CANARGO ENERGY CORPORATION
US $25,000,000.00
Senior Secured Notes due July 25, 2009
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NOTE PURCHASE AGREEMENT
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DATED JULY 25, 2005
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TABLE OF CONTENTS
(Not a part of the Agreement)
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SECTION
HEADING
PAGE
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SECTION 1.
AUTHORIZATION OF
NOTES.................................................................1
SECTION 2.
SALE AND PURCHASE OF
NOTES.............................................................1
SECTION 3.
SECURITY...............................................................................1
Section 3.1.
Grant of Security
Interests............................................................1
SECTION 4.
CLOSING................................................................................2
SECTION 5.
CONDITIONS TO
CLOSING..................................................................3
Section 5.1
Conditions to Purchaser's Obligation to Purchase
Notes.................................3
Section 5.1.1.
Representations and
Warranties.........................................................3
Section 5.1.2.
Performance; No
Default................................................................3
Section 5.1.3. Compliance
Certificates................................................................3
Section 5.1.4. Opinions
of
Counsel....................................................................4
Section 5.1.5. Purchase
Permitted by Applicable Law,
etc..............................................4
Section 5.1.6. Loan
Documents.........................................................................4
Section 5.1.7.
Proceedings and
Documents..............................................................4
Section 5.1.8. Subsidiary
Guaranties..................................................................4
Section 5.1.9. Due
Diligence..........................................................................4
Section 5.2
Conditions to Obligations of the
Company...............................................4
Section 5.2.1
Representations and
Warranties.........................................................4
Section 5.2.2.
Performance............................................................................5
Section 5.2.3.
Proceedings and
Litigation.............................................................5
Section 5.2.4.
Proceedings and
Documents..............................................................5
SECTION 6.
REPRESENTATIONS AND WARRANTIES OF THE
COMPANY..........................................5
Section 6.1.
Organization; Power and
Authority......................................................5
Section 6.2.
Authorization,
etc.....................................................................5
Section 6.3.
Disclosure.............................................................................6
Section 6.4.
Organization and Ownership of Shares of Subsidiaries;
Affiliates.......................6
Section 6.5.
Financial
Statements...................................................................6
Section 6.6.
Compliance with Laws, Other Instruments,
etc...........................................7
Section 6.7.
Governmental Authorizations,
etc.......................................................7
Section 6.8.
Litigation; Observance of Agreements, Statutes and
Orders..............................7
Section 6.9.
Taxes..................................................................................7
Section 6.10.
Title to Collateral; Assets of the
Company.............................................8
Section 6.11.
Licenses, Permits,
etc.................................................................8
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Section 6.12.
Benefit Plan
Compliance................................................................8
Section 6.13.
Private Offering by the
Company........................................................9
Section 6.14. Use
of Proceeds; Margin
Regulations....................................................9
Section 6.15.
Existing Indebtedness; Future
Liens....................................................9
Section 6.16.
Foreign Assets Control Regulations,
etc...............................................10
Section 6.17.
Status under Certain
Statutes.........................................................10
Section 6.18.
Environmental
Matters.................................................................10
Section 6.19.
Basic
Documents.......................................................................11
Section 6.20.
Solvency..............................................................................11
SECTION 7.
REPRESENTATIONS OF THE
PURCHASER......................................................12
Section 7.1
Due Authorization; Absence of Conflicts; Enforceability; Purchase
for
Investment,
etc.......................................................................12
Section 7.2
Access to
Information.................................................................13
Section 7.3.
Source of
Funds.......................................................................13
SECTION 8.
INFORMATION AS TO
COMPANY.............................................................14
Section 8.1.
Financial and Business Information......................
