Form Of Convertible Promissory Note (Genie AI)

The legal template "Form Of Convertible Promissory Note (Genie AI)" is a document designed for use in financial transactions involving Genie AI, a likely reference to an artificial intelligence company or technology provider. A convertible promissory note is a debt instrument that allows the lender to convert the outstanding loan amount into equity ownership in the borrower's company at a later date. This template likely outlines the terms and conditions of the loan, including the principal amount, interest rate, repayment terms, conversion terms, and any relevant representations and warranties. It would typically be used by the borrower to secure funding from investors or lenders, while also providing an opportunity for lenders to potentially participate in the future success of Genie AI by converting their debt into ownership stakes. Overall, this legal template defines the financial agreement between Genie AI and the lender, ensuring transparency and compliance with applicable laws and regulations.