FORM OF PROMISSORY NOTE
Exhibit 10.1
FORM OF PROMISSORY NOTE
| Borrower: | NanoFlex Power Corporation of 00000 X. Xxxxxxxxx Xx., Xxxxx 000, Xxxxxxxxxx, Xxxxxxx 00000 (individually and collectively the "Borrower"). |
Lenders:
Effective Date:
Principal Amount:
| 1. | FOR VALUE RECEIVED, Xxxxxxxx promises to pay to the order of _______________________, located at __________________________, the principal sum of $___________________. |
| 2. | The Term of the note shall expire 120 days from the Effective Date at which time the entire principal balance will be repaid. |
| 3. | In lieu of cash interest, Lender shall be issued on the Effective Date a 10-year cashless Warrant for ____________________ shares of the company Common Stock with a strike price of $0.50/share. |
| 4. | All costs, expenses and expenditures including, without limitation, the complete legal costs incurred by ___________________ in enforcing this Note as a result of any default by the Borrower, will be added to the principal then outstanding and will immediately be paid by the Borrower. |
| 5. | This Note will inure to the benefit of and be binding upon the respective heirs, executors, administrators, successors and assigns of the Borrower and ___________________________. The Borrower waives presentment for payment, notice of non-payment, protest and notice of protest. This Note will be construed and governed by the laws of the State of Arizona. |
Dated:
| NANOFLEX POWER CORPORATION | ||
| By: | ||
