Common use of Form of Convertible Promissory Note Clause in Contracts

Form of Convertible Promissory Note. THIS CONVERTIBLE PROMISSORY NOTE HAS BEEN ACQUIRED FOR INVESTMENT AND HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE “ACT”), AS AMENDED, OR UNDER ANY OTHER APPLICABLE SECURITIES LAWS, OR QUALIFIED UNDER ANY STATE SECURITIES LAWS. THIS CONVERTIBLE PROMISSORY NOTE MAY NOT BE SOLD OR TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR QUALIFICATION OR AN EXEMPTION THEREFROM UNDER THE ACT, UNDER ANY OTHER APPLICABLE SECURITIES LAWS AND ANY APPLICABLE STATE SECURITIES LAWS. FOR VALUE RECEIVED, Niu Technologies , a Cayman Islands incorporated limited liability company with its registered office at Maricorp Services Ltd., P.O. Box 2075, The Strand, 00 Xxxxx Xxxxx Xxxxx, Xxxxx Xxxxxx XX0-0000, Cayman Islands (the “Company”) promises to pay, in the lawful currency of the United States of America, to the order of GGV Capital V L.P., or its assigns (the “Holder”), the principal sum of US$2,893,797.63 (the “Principal Amount”), together with accrued and unpaid interest thereon, each due and payable on the dates and in the manner set forth below.

Form of Convertible Promissory Note. THIS CONVERTIBLE PROMISSORY NOTE HAS BEEN ACQUIRED FOR INVESTMENT AND HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE “ACT”), AS AMENDED, OR UNDER ANY OTHER APPLICABLE SECURITIES LAWS, OR QUALIFIED UNDER ANY STATE SECURITIES LAWS. THIS CONVERTIBLE PROMISSORY NOTE MAY NOT BE SOLD OR TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR QUALIFICATION OR AN EXEMPTION THEREFROM UNDER THE ACT, UNDER ANY OTHER APPLICABLE SECURITIES LAWS AND ANY APPLICABLE STATE SECURITIES LAWS. FOR VALUE RECEIVED, Niu Technologies , a Cayman Islands incorporated limited liability company with its registered office at Maricorp Services Ltd., P.O. Box 2075, The Strand, 00 Xxxxx Xxxxx Xxxxx, Xxxxx Xxxxxx XX0-0000, Cayman Islands (the “Company”) promises to pay, in the lawful currency of the United States of America, to the order of GGV Capital V Entrepreneurs Fund L.P., or its assigns (the “Holder”), the principal sum of US$2,893,797.63 106,202.37 (the “Principal Amount”), together with accrued and unpaid interest thereon, each due and payable on the dates and in the manner set forth below.

Form of Convertible Promissory Note. THIS CONVERTIBLE PROMISSORY NOTE HAS BEEN ACQUIRED FOR INVESTMENT AND HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE “ACT”), AS AMENDED, OR UNDER ANY OTHER APPLICABLE SECURITIES LAWS, OR QUALIFIED UNDER ANY STATE SECURITIES LAWS. THIS CONVERTIBLE PROMISSORY NOTE MAY NOT BE SOLD OR TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR QUALIFICATION OR AN EXEMPTION THEREFROM UNDER THE ACT, UNDER ANY OTHER APPLICABLE SECURITIES LAWS AND ANY APPLICABLE STATE SECURITIES LAWS. FOR VALUE RECEIVED, Niu Technologies , a Cayman Islands incorporated limited liability company with its registered office at Maricorp Services Ltd., P.O. Box 2075, The Strand, 00 Xxxxx Xxxxx Xxxxx, Xxxxx Xxxxxx XX0-0000, Cayman Islands (the “Company”) promises to pay, in the lawful currency of the United States of America, to the order of GGV Future Capital V Discovery Fund I, L.P., or its assigns (the “Holder”), the principal sum of US$2,893,797.63 USD 750,000 (the “Principal Amount”), together with accrued and unpaid interest thereon, each due and payable on the dates and in the manner set forth below.

Form of Convertible Promissory Note. THIS CONVERTIBLE PROMISSORY NOTE HAS BEEN ACQUIRED FOR INVESTMENT AND HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE “ACT”), AS AMENDED, OR UNDER ANY OTHER APPLICABLE SECURITIES LAWS, OR QUALIFIED UNDER ANY STATE SECURITIES LAWS. THIS CONVERTIBLE PROMISSORY NOTE MAY NOT BE SOLD OR TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR QUALIFICATION OR AN EXEMPTION THEREFROM UNDER THE ACT, UNDER ANY OTHER APPLICABLE SECURITIES LAWS AND ANY APPLICABLE STATE SECURITIES LAWS. FOR VALUE RECEIVED, Niu Technologies , a Cayman Islands incorporated limited liability company with its registered office at Maricorp Services Ltd., P.O. Box 2075, The Strand, 00 Xxxxx Xxxxx Xxxxx, Xxxxx Xxxxxx XX0-0000, Cayman Islands (the “Company”) promises to pay, in the lawful currency of the United States of America, to the order of GGV Capital V L.P.Plum Angel Investment Co., Ltd., or its assigns (the “Holder”), the principal sum of US$2,893,797.63 RMB 10,000,000 (the “Principal Amount”), together with accrued and unpaid interest thereon, each due and payable on the dates and in the manner set forth below.

Form of Convertible Promissory Note. THIS CONVERTIBLE PROMISSORY NOTE HAS BEEN ACQUIRED FOR INVESTMENT AND HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE “ACT”), AS AMENDED, OR UNDER ANY OTHER APPLICABLE SECURITIES LAWS, OR QUALIFIED UNDER ANY STATE SECURITIES LAWS. THIS CONVERTIBLE PROMISSORY NOTE MAY NOT BE SOLD OR TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR QUALIFICATION OR AN EXEMPTION THEREFROM UNDER THE ACT, UNDER ANY OTHER APPLICABLE SECURITIES LAWS AND ANY APPLICABLE STATE SECURITIES LAWS. FOR VALUE RECEIVED, Niu Technologies , a Cayman Islands incorporated limited liability company with its registered office at Maricorp Services Ltd., P.O. Box 2075, The Strand, 00 Xxxxx Xxxxx Xxxxx, Xxxxx Xxxxxx XX0-0000, Cayman Islands (the “Company”) promises to pay, in the lawful currency of the United States of America, to the order of GGV Capital V L.P.Hyperfinite Galaxy Holding Limited, or its assigns (the “Holder”), the principal sum of US$2,893,797.63 RMB 30,000,000 (the “Principal Amount”), together with accrued and unpaid interest thereon, each due and payable on the dates and in the manner set forth below.