UCNs are used to provide financing to companies or individuals, and can be converted into equity at a later date.
This legal template likely pertains to a specific type of financial instrument known as an Unsecured Convertible Promissory Note. It may provide a standardized agreement for borrowing money without any collateral, with the option to convert the debt into equity in the future. The template may be tailored for use with Genie AI, a specific party or entity involved in the transaction.
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