/Docs/G/SeriesSeed-Cooley-CmA/notes/Convertible_Promissory_Note/0.md
| Ti | = | |
| 0.1.sec | = | |
| 0.2.sec | = | CONVERTIBLE PROMISSORY NOTE |
| 0.3.sec | = | Note Series: {Note.Series.#} |
| 0.4.sec | = | Date of Note: {Note.Date.YMD} |
| 0.5.sec | = | Principal Amount of Note: {Note.Principal.Sum.#} |
| 0.6.sec | = | |
| 0.7.1.sec | = | For value received {Company.Name.Full}, a Delaware corporation (the "{DefT.Company}"), promises to pay to the undersigned holder or such party's assigns (the "{DefT.Holder}") the principal amount set forth above with {Interest.cl}. |
| Interest.Simple.cl | = | simple interest on the outstanding principal amount at the rate of {Note.InterestRate.%} per annum |
| Interest.Compounding.cl | = | interest on the outstanding principal amount at the rate of {Note.InterestRate.%} per annum, compounded annually |
| 0.7.2.sec | = | Interest shall commence with the date hereof and shall continue on the outstanding principal amount until paid in full or converted. |
| 0.7.3.sec | = | Interest shall be computed on the basis of a year of 365 days for the actual number of days elapsed. |
| 0.7.4.sec | = | All unpaid interest and principal shall be due and payable upon request of the Majority Holders on or after {Note.MaturityDate.YMD} (the "{DefT.Maturity_Date}"). |
| 0.7. | = | [G/Z/para/s4] |
| 0. | = | [G/Z/paras/s7] |
| = | ||
| 1.Ti | = | BASIC TERMS |
| 1.1.Ti | = | Series of Notes |
| 1.1.1.sec | = | {ThisNote.Cl}, {Note.AggregatePrincipal.cl} {Note.IssuedToHolders.cl} |
| ThisNote.Cl | = | This convertible promissory note (the "{DefT.Note}") is issued as part of a series of notes designated by the Note Series above (collectively, the "{DefT.Notes}") |
| Note.AggregatePrincipal.cl | = | and having an aggregate principal amount not to exceed {Note.Total.Principal.$} |
| Note.IssuedToHolders.cl | = | and issued in a series of multiple closings to certain persons and entities (collectively, the "{DefT.Holders}"). |
| 1.1.2.sec | = | The {_Company} shall maintain a ledger of all Holders. |
| 1.1. | = | [G/Z/para/s2] |
| 1.2.Ti | = | Payments |
| 1.2.sec | = | All payments of interest and principal shall be in lawful money of the United States of America and shall be made pro rata among all Holders. All payments shall be applied first to accrued interest, and thereafter to principal. |
| 1.3.Ti | = | Prepayment |
| 1.3.sec | = | The {_Company} may not prepay this Note prior to the Maturity Date without the consent of the Holders of a majority of the outstanding principal amount of the Notes (the "{DefT.Majority_Holders}"). |
| // | = | optional: |
| 1.4.Ti | = | Most Favored Nations |
| 1.4.sec | = | If, while this Note is outstanding, the {_Company} issues other indebtedness of the {_Company} convertible into equity securities of the {_Company}, or amends any existing indebtedness convertible into equity securities of the {_Company}, and such newly issued or amended indebtedness would have material terms that are more favorable, from the perspective of the Holder (the "{DefT.Other_Debt}"), than the terms of this Note, then the {_Company} will provide the Holder with written notice thereof, together with a copy of all documentation relating to the {_Other_Debt} and, upon request of the Holder, any additional information related to the {_Other_Debt} as may be reasonably requested by the Holder. The {_Company} will provide such notice to the Holder promptly (and in any event within 30 days) following the issuance of the {_Other_Debt}. In the event the Holder determines that the terms of the {_Other_Debt} are preferable to the terms of this Note, the Holder will notify the {_Company} in writing within five days following the Holder's receipt of such notice from the {_Company}. Promptly after receipt of such written notice from the Holder, but in any event within 30 days, the {_Company} will amend and restate this Note to be substantially identical to the promissory note evidencing the {_Other_Debt}, excluding the principal and unpaid accrued interest. |
| 1. | = | [G/Z/ol/4] |
| 2.Ti | = | CONVERSION AND REPAYMENT |
| 2.sec | = | {Convert.sec} |
| Convert. | = | [G/SeriesSeed-Cooley-CmA/Sec/Convert/0.md] |
| // | = | For the automating cross-referencing: |
| Convert.QualifiedFinancing.Xnum | = | {Convert.Xnum}.1 |
| Convert.Xnum | = | 2 |
| 3.Ti | = | Representations and Warranties. |
| 3.1.Ti | = | Representations and Warranties of the {_Company}. |
| 3.1.0.sec | = | The {_Company} hereby represents and warrants to the Holder as of the date the first Note was issued as follows: |
| 3.1.1.Ti | = | Organization, Good Standing and Qualification |
| 3.1.1.sec | = | The {_Company} is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware. The {_Company} has the requisite corporate power to own and operate its properties and assets and to carry on its business as now conducted and as proposed to be conducted. The {_Company} is duly qualified and is authorized to do business and is in good standing as a foreign corporation in all jurisdictions in which the nature of its activities and of its properties (both owned and leased) makes such qualification necessary, except for those jurisdictions in which failure to do so would not have a material adverse effect on the {_Company} or its business (a "{DefT.Material_Adverse_Effect}"). |
| 3.1.2.Ti | = | Corporate Power |
| 3.1.2.sec | = | The {_Company} has all requisite corporate power to issue this Note and to carry out and perform its obligations under this Note. The {_Company}'s Board of Directors (the "{DefT.Board}") has approved the issuance of this Note based upon a reasonable belief that the issuance of this Note is appropriate for the {_Company} after reasonable inquiry concerning the {_Company}'s financing objectives and financial situation. |
| 3.1.3.Ti | = | Authorization |
| 3.1.3.sec | = | All corporate action on the part of the {_Company}, the Board and the {_Company}'s stockholders necessary for the issuance and delivery of this Note has been taken. This Note constitutes a valid and binding obligation of the {_Company} enforceable in accordance with its terms, subject to laws of general application relating to bankruptcy, insolvency, the relief of debtors and, with respect to rights to indemnity, subject to federal and state securities laws. Any securities issued upon conversion of this Note (the "{DefT.Conversion_Securities}"), when issued in compliance with the provisions of this Note, will be validly issued, fully paid, nonassessable, free of any liens or encumbrances and issued in compliance with all applicable federal and securities laws. |
| 3.1.4.sec | = | Governmental Consents |
| 3.1.4.sec | = | All consents, approvals, orders or authorizations of, or registrations, qualifications, designations, declarations or filings with, any governmental authority required on the part of the {_Company} in connection with issuance of this Note has been obtained. |
| 3.1.5.Ti | = | Compliance with Laws |
| 3.1.5.sec | = | To its knowledge, the {_Company} is not in violation of any applicable statute, rule, regulation, order or restriction of any domestic or foreign government or any instrumentality or agency thereof in respect of the conduct of its business or the ownership of its properties, which violation of which would have a Material Adverse Effect. |
| 3.1.6.Ti | = | Compliance with Other Instruments |
| 3.1.6.sec | = | The {_Company} is not in violation or default of any term of its certificate of incorporation or bylaws, or of any provision of any mortgage, indenture or contract to which it is a party and by which it is bound or of any judgment, decree, order or writ, other than such violation(s) that would not have a Material Adverse Effect. The execution, delivery and performance of this Note will not result in any such violation or be in conflict with, or constitute, with or without the passage of time and giving of notice, either a default under any such provision, instrument, judgment, decree, order or writ or an event that results in the creation of any lien, charge or encumbrance upon any assets of the {_Company} or the suspension, revocation, impairment, forfeiture, or nonrenewal of any material permit, license, authorization or approval applicable to the {_Company}, its business or operations or any of its assets or properties. Without limiting the foregoing, the {_Company} has obtained all waivers reasonably necessary with respect to any preemptive rights, rights of first refusal or similar rights, including any notice or offering periods provided for as part of any such rights, in order for the {_Company} to consummate the transactions contemplated hereunder without any third party obtaining any rights to cause the {_Company} to offer or issue any securities of the {_Company} as a result of the consummation of the transactions contemplated hereunder. |
| 3.1.7.Ti | = | No "Bad Actor" Disqualification |
| 3.1.7.sec | = | The {_Company} has exercised reasonable care to determine whether any {_Company} Covered Person (as defined below) is subject to any of the "bad actor" disqualifications described in Rule 506(d)(1)(i) through (viii), as modified by Rules 506(d)(2) and (d)(3), under the Act ("{DefT.Disqualification_Events}"). To the {_Company}'s knowledge, no {_Company} Covered Person is subject to a Disqualification Event. The {_Company} has complied, to the extent required, with any disclosure obligations under Rule 506(e) under the Act. For purposes of this Note, "{DefT.Company_Covered_Persons}" are those persons specified in Rule 506(d)(1) under the Act; provided, however, that {_Company} Covered Persons do not include (a) any Holder, or (b) any person or entity that is deemed to be an affiliated issuer of the {_Company} solely as a result of the relationship between the {_Company} and any Holder. |
| 3.1.8.Ti | = | Offering |
| 3.1.8.sec | = | Assuming the accuracy of the representations and warranties of the Holder contained in Section 3.2 below, the offer, issue, and sale of this Note and the Conversion Securities (collectively, the "{DefT.Securities}") are and will be exempt from the registration and prospectus delivery requirements of the Act, and have been registered or qualified (or are exempt from registration and qualification) under the registration, permit or qualification requirements of all applicable state securities laws. |
| 3.1.9.Ti | = | Use of Proceeds |
| 3.1.9.sec | = | The {_Company} shall use the proceeds of this Note solely for the operations of its business, and not for any personal, family or household purpose. |
| 3.1. | = | [G/Z/ol/9] |
| 3.2.Ti | = | Representations and Warranties of the Holder |
| 3.2.0.sec | = | The Holder hereby represents and warrants to the {_Company} as of the date hereof as follows: |
| 3.2.1.Ti | = | Purchase for Own Account |
| 3.2.1.sec | = | The Holder is acquiring the Securities solely for the Holder's own account and beneficial interest for investment and not for sale or with a view to distribution of the Securities or any part thereof, has no present intention of selling (in connection with a distribution or otherwise), granting any participation in, or otherwise distributing the same, and does not presently have reason to anticipate a change in such intention. |
| 3.2.2.Ti | = | Information and Sophistication |
| 3.2.2.sec | = | Without lessening or obviating the representations and warranties of the {_Company} set forth in Section 3.1 above, the Holder hereby: (A) acknowledges that the Holder has received all the information the Holder has requested from the {_Company} and the Holder considers necessary or appropriate for deciding whether to acquire the Securities, (B) represents that the Holder has had an opportunity to ask questions and receive answers from the {_Company} regarding the terms and conditions of the offering of the Securities and to obtain any additional information necessary to verify the accuracy of the information given the Holder and (C) further represents that the Holder has such knowledge and experience in financial and business matters that the Holder is capable of evaluating the merits and risk of this investment. |
| 3.2.3.Ti | = | Ability to Bear Economic Risk |
| 3.2.3.sec | = | The Holder acknowledges that investment in the Securities involves a high degree of risk, and represents that the Holder is able, without materially impairing the Holder's financial condition, to hold the Securities for an indefinite period of time and to suffer a complete loss of the Holder's investment. |
| 3.2.4.Ti | = | Further Limitations on Disposition |
| 3.2.4.0.sec | = | Without in any way limiting the representations set forth above, the Holder further agrees not to make any disposition of all or any portion of the Securities unless and until: |
| 3.2.4.1.sec | = | There is then in effect a registration statement under the Act covering such proposed disposition and such disposition is made in accordance with such registration statement; or |
| 3.2.4.2.sec | = | The Holder shall have notified the {_Company} of the proposed disposition and furnished the {_Company} with a detailed statement of the circumstances surrounding the proposed disposition, and if reasonably requested by the {_Company}, the Holder shall have furnished the {_Company} with an opinion of counsel, reasonably satisfactory to the {_Company}, that such disposition will not require registration under the Act or any applicable state securities laws; provided that no such opinion shall be required for dispositions in compliance with Rule 144 under the Act, except in unusual circumstances. |
| 3.2.4.3.sec | = | Notwithstanding the provisions of paragraphs (1) and (2) above, no such registration statement or opinion of counsel shall be necessary for a transfer by the Holder to a partner (or retired partner) or member (or retired member) of the Holder in accordance with partnership or limited liability company interests, or transfers by gift, will or intestate succession to any spouse or lineal descendants or ancestors, if all transferees agree in writing to be subject to the terms hereof to the same extent as if they were the Holders hereunder. |
| 3.2.4. | = | [G/Z/ol-i/s3] |
| 3.2.5.Ti | = | Accredited Investor Status |
| 3.2.5.sec | = | The Holder is an "accredited investor" as such term is defined in Rule 501 under the Act. |
| 3.2.6.Ti | = | No "Bad Actor" Disqualification |
| 3.2.6.sec | = | The Holder represents and warrants that neither (A) the Holder nor (B) any entity that controls the Holder or is under the control of, or under common control with, the Holder, is subject to any Disqualification Event, except for Disqualification Events covered by Rule 506(d)(2)(ii) or (iii) or (d)(3) under the Act and disclosed in writing in reasonable detail to the {_Company}. The Holder represents that the Holder has exercised reasonable care to determine the accuracy of the representation made by the Holder in this paragraph, and agrees to notify the {_Company} if the Holder becomes aware of any fact that makes the representation given by the Holder hereunder inaccurate. |
| 3.2.7.Ti | = | Foreign Investors |
| 3.2.7.sec | = | If the Holder is not a United States person (as defined by Section 7701(a)(30) of the Internal Revenue Code of 1986, as amended (the "_Code_")), the Holder hereby represents that he, she or it has satisfied itself as to the full observance of the laws of the Holder's jurisdiction in connection with any invitation to subscribe for the Securities or any use of this Note, including (A) the legal requirements within the Holder's jurisdiction for the purchase of the Securities, (B) any foreign exchange restrictions applicable to such purchase, (C) any governmental or other consents that may need to be obtained, and (D) the income tax and other tax consequences, if any, that may be relevant to the purchase, holding, redemption, sale or transfer of the Securities. The Holder's subscription, payment for and continued beneficial ownership of the Securities will not violate any applicable securities or other laws of the Holder's jurisdiction. |
| 3.2.8.Ti | = | Forward-Looking Statements |
| 3.2.8.sec | = | With respect to any forecasts, projections of results and other forward-looking statements and information provided to the Holder, the Holder acknowledges that such statements were prepared based upon assumptions deemed reasonable by the {_Company} at the time of preparation. There is no assurance that such statements will prove accurate, and the {_Company} has no obligation to update such statements. |
| 3.2. | = | [G/Z/ol/8] |
| 3. | = | [G/Z/ol/2] |
| 4.Ti | = | Events of Default |
| 4.1.0.sec | = | If there shall be any Event of Default (as defined below) hereunder, at the option and upon the declaration of the Majority Holders and upon written notice to the {_Company} (which election and notice shall not be required in the case of an Event of Default under Section 4.1.2 or 4.1.3 below), this Note shall accelerate and all principal and unpaid accrued interest shall become due and payable. The occurrence of any one or more of the following shall constitute an "{DefT.Event_of_Default}": |
| 4.1.1.sec | = | The {_Company} fails to pay timely any of the principal amount due under this Note on the date the same becomes due and payable or any unpaid accrued interest or other amounts due under this Note on the date the same becomes due and payable; |
| 4.1.2.sec | = | The {_Company} files any petition or action for relief under any bankruptcy, reorganization, insolvency or moratorium law or any other law for the relief of, or relating to, debtors, now or hereafter in effect, or makes any assignment for the benefit of creditors or takes any corporate action in furtherance of any of the foregoing; or |
| 4.1.3.sec | = | An involuntary petition is filed against the {_Company} (unless such petition is dismissed or discharged within 60 days under any bankruptcy statute now or hereafter in effect, or a custodian, receiver, trustee or assignee for the benefit of creditors (or other similar official) is appointed to take possession, custody or control of any property of the {_Company}). |
| 4.1. | = | [G/Z/ol/s3] |
| 4.2.sec | = | In the event of any Event of Default hereunder, the {_Company} shall pay all reasonable attorneys' fees and court costs incurred by the Holder in enforcing and collecting this Note. |
| 4. | = | [G/Z/ol/s2] |
| 5.Ti | = | Miscellaneous Provisions |
| 5.1.Ti | = | Waivers |
| 5.1.sec | = | The {_Company} hereby waives demand, notice, presentment, protest and notice of dishonor. |
| 5.2.Ti | = | Further Assurances |
| 5.2.sec | = | The Holder agrees and covenants that at any time and from time to time the Holder will promptly execute and deliver to the {_Company} such further instruments and documents and take such further action as the {_Company} may reasonably require in order to carry out the full intent and purpose of this Note and to comply with state or federal securities laws or other regulatory approvals. |
| 5.3.Ti | = | Transfers of Notes |
| 5.3.sec | = | This Note may be transferred only upon its surrender to the {_Company} for registration of transfer, duly endorsed, or accompanied by a duly executed written instrument of transfer in form satisfactory to the {_Company}. Thereupon, this Note shall be reissued to, and registered in the name of, the transferee, or a new Note for like principal amount and interest shall be issued to, and registered in the name of, the transferee. Interest and principal shall be paid solely to the registered holder of this Note. Such payment shall constitute full discharge of the {_Company}'s obligation to pay such interest and principal. |
| 5.4.Ti | = | Market Standoff |
| 5.4.sec | = | To the extent requested by the {_Company} or an underwriter of securities of the {_Company}, the Holder and any permitted transferee thereof shall not, without the prior written consent of the managing underwriters in the IPO (as hereafter defined), offer, sell, make any short sale of, grant or sell any option for the purchase of, lend, pledge, otherwise transfer or dispose of (directly or indirectly), enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership (whether any such transaction is described above or is to be settled by delivery of Securities or other securities, in cash, or otherwise), any Securities or other shares of stock of the {_Company} then owned by the Holder or any transferee thereof, or enter into an agreement to do any of the foregoing, for up to 180 days following the effective date of the registration statement of the initial public offering of the {_Company} (the "{DefT.IPO}") filed under the Securities Act. For purposes of this paragraph, "{_Company}" includes any wholly owned subsidiary of the {_Company} into which the {_Company} merges or consolidates. The {_Company} may place restrictive legends on the certificates representing the shares subject to this paragraph and may impose stop transfer instructions with respect to the Securities and such other shares of stock of the Holder and any transferee thereof (and the shares or securities of every other person subject to the foregoing restriction) until the end of such period. The Holder and any transferee thereof shall enter into any agreement reasonably required by the underwriters to the IPO to implement the foregoing within any reasonable timeframe so requested. The underwriters for any IPO are intended third party beneficiaries of this paragraph and shall have the right, power and authority to enforce the provisions of this paragraph as though they were parties hereto. |
| 5.5.Ti | = | Amendment and Waiver |
| 5.5.sec | = | Any term of this Note may be amended or waived with the written consent of the {_Company} and the Holder. In addition, any term of this Note may be amended or waived with the written consent of the {_Company} and the Majority Holders. Upon the effectuation of such waiver or amendment with the consent of the Majority Holders in conformance with this paragraph, such amendment or waiver shall be effective as to, and binding against the holders of, all of the Notes and the {_Company} shall promptly give written notice thereof to the Holder if the Holder has not previously consented to such amendment or waiver in writing; provided that the failure to give such notice shall not affect the validity of such amendment or waiver. |
| 5.6.Ti | = | Governing Law |
| 5.6.sec | = | This Note shall be governed by and construed under the laws of the State of Delaware, as applied to agreements among Delaware residents, made and to be performed entirely within the State of Delaware, without giving effect to conflicts of laws principles. |
| 5.7.Ti | = | Binding Agreement |
| 5.7.sec | = | The terms and conditions of this Note shall inure to the benefit of and be binding upon the respective successors and assigns of the parties. Nothing in this Note, expressed or implied, is intended to confer upon any third party any rights, remedies, obligations or liabilities under or by reason of this Note, except as expressly provided in this Note. |
| 5.8.Ti | = | Counterparts; Manner of Delivery |
| 5.8.sec | = | This Note may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. Counterparts may be delivered via facsimile, electronic mail (including pdf or any electronic signature complying with the U.S. federal ESIGN Act of 2000, Uniform Electronic Transactions Act or other applicable law) or other transmission method and any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes. |
| 5.9.Ti | = | Titles and Subtitles |
| 5.9.sec | = | The titles and subtitles used in this Note are used for convenience only and are not to be considered in construing or interpreting this Note. |
| 5.10.Ti | = | Notices |
| 5.10.sec | = | All notices required or permitted hereunder shall be in writing and shall be deemed effectively given: (i) upon personal delivery to the party to be notified, (ii) when sent by confirmed electronic mail or facsimile if sent during normal business hours of the recipient, if not, then on the next business day, (iii) five days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (iv) one day after deposit with a nationally recognized overnight courier, specifying next day delivery, with written verification of receipt. All communications to a party shall be sent to the party's address set forth on the signature page hereto or at such other address(es) as such party may designate by 10 days' advance written notice to the other party hereto. |
| 5.11.Ti | = | Expenses |
| 5.11.sec | = | The {_Company} and the Holder shall each bear its respective expenses and legal fees incurred with respect to the negotiation, execution and delivery of this Note and the transactions contemplated herein. |
| 5.12.Ti | = | Delays or Omissions |
| 5.12.sec | = | It is agreed that no delay or omission to exercise any right, power or remedy accruing to the Holder, upon any breach or default of the {_Company} under this Note shall impair any such right, power or remedy, nor shall it be construed to be a waiver of any such breach or default, or any acquiescence therein, or of or in any similar breach or default thereafter occurring; nor shall any waiver of any single breach or default be deemed a waiver of any other breach or default theretofore or thereafter occurring. It is further agreed that any waiver, permit, consent or approval of any kind or character by the Holder of any breach or default under this Note, or any waiver by the Holder of any provisions or conditions of this Note, must be in writing and shall be effective only to the extent specifically set forth in writing and that all remedies, either under this Note, or by law or otherwise afforded to the Holder, shall be cumulative and not alternative. This Note shall be void and of no force or effect in the event that the Holder fails to remit the full principal amount to the {_Company} within five calendar days of the date of this Note. |
| 5.13.Ti | = | Entire Agreement |
| 5.13.sec | = | This Note constitutes the full and entire understanding and agreement between the parties with regard to the subjects hereof, and no party shall be liable or bound to any other party in any manner by any representations, warranties, covenants and agreements except as specifically set forth herein. |
| 5.14.Ti | = | Exculpation among Holders |
| 5.14.sec | = | The Holder acknowledges that the Holder is not relying on any person, firm or corporation, other than the {_Company} and its officers and Board members, in making its investment or decision to invest in the {_Company}. |
| 5.15.Ti | = | Senior Indebtedness |
| 5.15.sec | = | The indebtedness evidenced by this Note is subordinated in right of payment to the prior payment in full of any Senior Indebtedness in existence on the date of this Note or hereafter incurred. "{DefT.Senior_Indebtedness}" shall mean, unless expressly subordinated to or made on a parity with the amounts due under this Note, all amounts due in connection with (i) indebtedness of the {_Company} to banks or other lending institutions regularly engaged in the business of lending money (excluding venture capital, investment banking or similar institutions and their affiliates, which sometimes engage in lending activities but which are primarily engaged in investments in equity securities), and (ii) any such indebtedness or any debentures, notes or other evidence of indebtedness issued in exchange for such Senior Indebtedness, or any indebtedness arising from the satisfaction of such Senior Indebtedness by a guarantor. |
| 5.16.Ti | = | Broker's Fees |
| 5.16.sec | = | Each party hereto represents and warrants that no agent, broker, investment banker, person or firm acting on behalf of or under the authority of such party hereto is or will be entitled to any broker's or finder's fee or any other commission directly or indirectly in connection with the transactions contemplated herein. Each party hereto further agrees to indemnify each other party for any claims, losses or expenses incurred by such other party as a result of the representation in this subsection being untrue. |
| 5.17.Ti | = | California Corporate Securities Law |
| 5.17.sec | = | The sale of the securities which are the subject of this Note has not been qualified with the Commissioner of Corporations of the State of California and the issuance of such securities or the payment or receipt of any part of the consideration therefor prior to such qualification or in the absence of an exemption from such qualification is unlawful. Prior to acceptance of such consideration by the {_Company}, the rights of all parties to this Note are expressly conditioned upon such qualification being obtained or an exemption from such qualification being available. |
| 5. | = | [G/Z/ol/17] |
| 00.1.sec | = | [Signature pages follow] |
| 00.2.sec | = | The parties have executed this Convertible Promissory Note as of the date first noted above. |
| 00.3.sec | = | {Company.By.Sec}Holders:{Seed.By.Sec} |
| 00.4.sec | = | {Annex.Sec} |
| 00. | = | [G/Z/paras/s4] |
| = | ||
| Annex.Sec | = | ExhibitsExhibit A{TermsOfPreferred.Sec} |
| = | [G/Z/ol/5] | |