Get Convertible Note Term Sheet

Filling out a convertible note term sheet can be straightforward with the right guidance. This document outlines essential terms for convertible promissory note financing, focusing on user-friendly instructions to help you complete it efficiently online.

Follow the steps to complete the convertible note term sheet online.

1. Press the ‘Get Form’ button to access the Convertible Note Term Sheet and open it in your chosen editor.
2. Begin by providing the company name in the designated field, ensuring it accurately reflects the legal name of the entity seeking financing.
3. Next, indicate the financing amount. Enter the principal amount for the convertible promissory note, ensuring it does not exceed $25,000.
4. Outline disbursement details by specifying the schedule for the two equal installments. Note the first installment will occur at the initial closing date, and the second will depend on participation in the Accelerate Baltimore program.
5. In the maturity date section, clarify the due date for principal and accrued interest, and ensure you select either option presented.
6. Describe the interest terms, including the applicable rate of six percent per annum, noting the calculation method on a 365-day basis.
7. Complete the sections on conversion terms, detailing both automatic and optional conversion instances.
8. Specify the rules for pre-payment, emphasizing that it requires written approval from the Abell Foundation.
9. Document the rights for board observation and information, indicating the participation of the observer during board meetings.
10. After filling out all the sections, review your entries for accuracy, then save changes, download, print, or share the completed term sheet.

Take the next step and complete your term sheet online today.