Unsecured Convertible Promissory Note (Genie AI)

This legal template is likely to pertain to an unsecured convertible promissory note designed for use with Genie AI, a specific artificial intelligence technology or platform. A promissory note is a legal document that outlines borrowed funds and a promise to repay them. In this case, the note is "unsecured," which means it does not have any collateral backing up the loan.

The template may also include terms to describe the convertible nature of the promissory note. Convertible notes allow the lender to convert the outstanding loan amount into an ownership stake in the borrower's company or assets, typically at a later date or upon the occurrence of certain conditions. The terms of conversion, such as the conversion price or conversion ratio, might be outlined in this legal template.

Since the template specifically mentions Genie AI, it is likely tailored to address specific considerations or provisions related to the usage of this AI technology. These provisions could include potential disclosures, warranties, or covenants related to Genie AI's functionality, performance, or intellectual property rights. The template might also outline any contractual obligations, limitations, or dispute resolution mechanisms related to the use of Genie AI in connection with the promissory note.

Overall, this legal template likely seeks to provide a standardized form for creating an unsecured convertible promissory note specific to Genie AI, outlining the terms and conditions of the loan while incorporating clauses relevant to the usage and interaction with this particular AI technology.