Common Contracts
1 similar Convertible Debenture Agreement contracts
ContractConvertible Debenture Agreement • February 19th, 2015
Under the terms of the agreement, Alder would receive a loan of $100,000 at an annual interest rate of 15%, payable quarterly with the first interest payment due March 15, 2015. Alder has the option to pay out the debenture by paying the outstanding balance and all accrued interest. Following a share consolidation by Alder, the Debentureholder has the right to convert at any time before the maturity, the amount outstanding and any interest accrued into shares of the corporation at a price of $0.01 per pre-consolidated common share of Alder. The convertible debenture is subject to regulatory approvals, including the approval of the TSX Venture Exchange.
