Standby Equity Distribution Agreement (Genie AI)

The Standby Equity Distribution Agreement (Genie AI) is a legal template that outlines the terms and conditions of an agreement between a company (the "Issuer") and an investor (the "Purchaser") regarding the issuance and sale of standby equity to support the Issuer's financial needs.

This agreement is specifically tailored for Genie AI, a fictional AI technology company, but can be customized for other companies and industries as well. The template aims to establish a framework for the Purchaser to provide financial assistance to the Issuer by acquiring equity securities on standby basis.

The agreement defines the conditions under which the Issuer may call upon the Purchaser to purchase the standby equity as a means of raising funds to sustain and expand the Issuer's operations. It outlines the amount and pricing of the equity securities, the procedures for exercising the standby equity purchase options, and the timeline for the completion of the transactions.

Furthermore, the template sets forth the rights and obligations of both parties, including provisions related to the transferability of the securities, limitations on the Purchaser's liability, representations and warranties, and any potential termination or default scenarios.

While this description provides a general overview of what the Standby Equity Distribution Agreement (Genie AI) could cover, it is important to consult legal counsel and customize the template according to the specific needs of the parties involved and the applicable jurisdiction.