SCPNs are used to provide debt financing to companies, with the investor receiving interest payments and the right to convert the loan into equity.
This legal template is a Subordinated Convertible Promissory Note specifically designed for Genie AI. It outlines the terms and conditions related to a loan that can be converted into equity at a later date, while retaining a lower priority in terms of repayment in the event of liquidation or bankruptcy.
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