A convertible promissory note (CPN) is a legally binding document outlining the terms of a loan between a lender and a borrower, which can be converted into equity at a later date.
This legal template could be a standardized document outlining the terms and conditions of a convertible promissory note agreement. It would stipulate the details of the loan, including the interest rate, maturity date, conversion terms, and any other relevant provisions. The template is specifically designed for Genie AI, a technology or software-based company.
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