Examples of Convertible Promissory Note in a sentence
Beginning ninety (90) days after the date set forth above and continuing until the Convertible Promissory Note (“the Note”) has been paid in full, the right to convert all amounts then due under the Note at a conversion rate (“Conversion Rate”) that is a discount of thirty percent (30%) to the lowest bid price during the prior ten (10) trading days.
Interest shall accrue on the unpaid principal amount of this Convertible Promissory Note (the “Note”) at the rate of five percent (5%) per annum from the date of the first making of the loan for such principal amount until such unpaid principal amount is paid in full or earlier converted into shares (the “Shares”) of the Maker’s common stock (the “Common Stock”) in accordance with the terms hereof.
All capitalized terms used in this Amendment and not otherwise defined shall have the meanings assigned to them in the Convertible Promissory Note.
Except as specifically modified herein, all of the terms and conditions of the Convertible Promissory Note shall continue in full force and effect and are hereby ratified and affirmed.
To induce the Holder to enter into this Amendment, the Company represents and warrants to the Holder that, after giving effect to this Amendment, the representations and warranties set forth in Section 6 of the Convertible Promissory Note are true and correct in all material respects on and as of the date hereof.