You need a Convertible Loan Note!
Related challenges include:
Cancel those plans as another unnecessary night of cobbling something together lies ahead. Hopefully it will do…
This Convertible Loan Note ("CLN") documents the terms of loan that in specific predefined circumstances can be converted into shares in the borrower company.
This template is well suited for start-ups that want to raise funds without going straight into an equity funding round.
Like any commercial arrangement, ensuring that both parties clearly understand their respective rights and obligations is key to a successful relationship with a lender/investor.
Our automated CLN is designed by world-class lawyers to be comprehensive yet succinct, flexible, easy to understand and easy to use.
This template covers all key issues, including: conversion triggers, conversion pricing, default provisions, confidentiality and how disputes will be resolved.
This GLS solution is more than just a template and includes access to your managed in-house legal support resource to raise any queries you might have in relation to the template.
See our “Solution Sample” for a detailed sample of what is delivered and for user guidance!
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GLS – Law Rewritten
For $399 at GLS you get the complete Document Solution you need + answers to all of your questions. At a traditional firm you would just get 28min of time…
One-off purchasers and Total Legal Support subscribers can find their documents in:"My Solutions Centre" > "My Library"
Perfect for new SMEs/Start-Ups
Perfect for quickly growing SMEs/Start-Ups
Perfect for mid-cycle SMEs
Perfect for late-cycle SMEs/Start-Ups