<commit_before><?!= data.xml_declaration ?>
<?!= data.xmlRoot() ?>
<?!= include("inc_cover_2_parties", data, {cover_title:"Super Simplified Convertible Loan Agreement", party1:data.company, party2:data.new_investor}) ?>
<? var iHaveCap = data._orig_pre_money_valuation ? true : false; xmLog("simplified_note: data.pre_money_valuation = %s (%s)", data.pre_money_valuation, iHaveCap); ?>
<? var subTitle; ?>
<?    if (  iHaveCap && ! data._orig_discount) { subTitle = "Cap Only, No Discount" }
 else if (  iHaveCap &&   data._orig_discount) { subTitle = "Cap and Discount" }
 else if (! iHaveCap &&   data._orig_discount) { subTitle = "Discount, no Cap" }
 else if (! iHaveCap && ! data._orig_discount) { subTitle = "No Cap, No Discount" }

 if (data._orig_discount && data.hundred_minus_discount == undefined) {
 data.hundred_minus_discount = (100-100*data._orig_discount).toFixed(2);
 }
?>
<Firstpage_Sidebar></Firstpage_Sidebar>
<Story_Main>
  <chapter_header>Convertible Loan Agreement</chapter_header>
<para_1><span_smallcaps>This agreement</span_smallcaps> is made on <textvar name="Output Date" /> between</para_1>
<parties><?!= include("inc_party", data, data.new_investor) ?> (the "Investor")</parties>
<parties><?!= include("inc_party", data, data.company) ?> (the "Company")</parties>
<para_1>(collectively, the "Parties").</para_1>

<para_1><span_smallcaps>Whereas:</span_smallcaps></para_1>
  <recitals>The Company is a private company incorporated in Singapore limited by shares.</recitals>
  <recitals>The Company wishes to pay a third party, but lacking sufficient funds, looks to the Investor for assistance.</recitals>
  <recitals>The result of this assistance will be a debt owned by the Comapny to the Investor.</recitals>
  <recitals>The Company presently lacking the funds to repay that debt in cash, the Company is prepared to issue equity to the Investor in future.</recitals>
  <recitals>The Investor and the Company desire and wish to enter into this Agreement to regulate the relationship between the Parties.</recitals>

  <para_1><span_smallcaps>It is hereby agreed</span_smallcaps> as follows:</para_1>

  <a_left_sidehead>Definitions</a_left_sidehead>
  <numbered_2_para>In this Agreement, except to the extent that the context otherwise requires, the following terms shall have the meanings set forth below:</numbered_2_para>
  <definition>Articles	means the Regulations in the Constitution of the Company.</definition>
  <definition>Payment to Third-Party	The payment of <?=data.third_party_payment_amount?> to a person named <?= data.third_party_name?> (the "Third Party").</definition>
  <definition>Principal	means <?=data.new_investor.new_commitment?>, that being agreed as the Singapore Dollar equivalent of the Payment to Third Party.</definition>

  <a_left_sidehead>Condition Precedent</a_left_sidehead>
  <numbered_2_para>This Agreement shall be effective when the Investor delivers to the Company evidence of the transfer of either</numbered_2_para>
  <numbered_3_para>funds from the Investor to the Third Party as described in "Payment to Third-Party"; or</numbered_3_para>
  <numbered_3_para>the Principal from the Investor to the Company.</numbered_3_para>

  <a_left_sidehead>Subscription</a_left_sidehead>
  <numbered_2_para>The Parties agree to recognize a resulting debt of <?= data.new_investor.new_commitment ?> (the &#8220;Investment Amount&#8221;) owed by the Company in the form of a convertible promissory note (the &#8220;Note&#8221;) issued by the Company to the Investor.</numbered_2_para>

  <a_left_sidehead>Total Round Size</a_left_sidehead>
  <numbered_2_para>The Note issued to the Investor may form part of a series of such Notes issued on essentially identical terms (the "Series") except that the Investor, Investment Amount<?= data.variable_terms ?data.variable_terms:","?> and Closing Date may change from Note to Note. The total amount of the Series shall not exceed <?= data.amount_raising ?> without the written agreement of all the holders of the Notes in the Series currently outstanding.</numbered_2_para>

  <a_left_sidehead>Maturity Date</a_left_sidehead>
  <numbered_2_para>The Principal <? if (data._orig_interest != 0) { ?>and unpaid accrued interest on<? } else { ?>of<? } ?> the Note will be due and payable <?= data.term ?> from the date of the signing of this Agreement (the &#8220;<b>Maturity Date</b>&#8221;).</numbered_2_para>


  <a_left_sidehead>Interest</a_left_sidehead>
  <numbered_2_para><? if (data._orig_interest != 0) { ?>
Interest on the Note will accrue on an annual basis at the rate of <?= data.interest ?> per annum based on a 365 days year.<? } else { ?>
The Note shall bear no interest. <? } ?>
</numbered_2_para>


<a_left_sidehead>Repayment</a_left_sidehead>

<numbered_2_para>The Company may repay the Principal<? if (data._orig_interest != 0) { ?>and unpaid accrued interest<? }?> at any time prior to the Maturity Date, or conversion, whichever is sooner.</numbered_2_para>


<a_left_sidehead>Automatic Conversion</a_left_sidehead>
  <numbered_2_para><b>Automatic Conversion at the Maturity Date.</b> On the Maturity Date, the Note, and any accrued but unpaid interest thereon, will automatically convert into Equity Securities at <?= (100 - 100*data._orig_maturity_conversion_discount).toFixed(2) ?>% of the Conversion Price.</numbered_2_para>

<a_left_sidehead>Optional Conversion</a_left_sidehead>
<numbered_2_para>At any time prior to the Maturity Date, the Company may elect to convert the entire Investment Amount into Equity Securities at the Conversion Price.</numbered_2_para>

<a_left_sidehead>Conversion Price</a_left_sidehead><commit_msg>slight english cleanup<commit_after><?!= data.xml_declaration ?>
<?!= data.xmlRoot() ?>
<?!= include("inc_cover_2_parties", data, {cover_title:"Super Simplified Convertible Loan Agreement", party1:data.company, party2:data.new_investor}) ?>
<? var iHaveCap = data._orig_pre_money_valuation ? true : false; xmLog("simplified_note: data.pre_money_valuation = %s (%s)", data.pre_money_valuation, iHaveCap); ?>
<? var subTitle; ?>
<?    if (  iHaveCap && ! data._orig_discount) { subTitle = "Cap Only, No Discount" }
 else if (  iHaveCap &&   data._orig_discount) { subTitle = "Cap and Discount" }
 else if (! iHaveCap &&   data._orig_discount) { subTitle = "Discount, no Cap" }
 else if (! iHaveCap && ! data._orig_discount) { subTitle = "No Cap, No Discount" }

 if (data._orig_discount && data.hundred_minus_discount == undefined) {
 data.hundred_minus_discount = (100-100*data._orig_discount).toFixed(2);
 }
?>
<Firstpage_Sidebar></Firstpage_Sidebar>
<Story_Main>
  <chapter_header>Convertible Loan Agreement</chapter_header>
<para_1><span_smallcaps>This agreement</span_smallcaps> is made on <textvar name="Output Date" /> between</para_1>
<parties><?!= include("inc_party", data, data.new_investor) ?> (the "Investor")</parties>
<parties><?!= include("inc_party", data, data.company) ?> (the "Company")</parties>
<para_1>(collectively, the "Parties").</para_1>

<para_1><span_smallcaps>Whereas:</span_smallcaps></para_1>
  <recitals>The Company is a private company incorporated in Singapore limited by shares.</recitals>
  <recitals>The Company wishes to pay a third party, but lacking sufficient funds, looks to the Investor for assistance.</recitals>
  <recitals>The result of this assistance will be a debt owned by the Comapny to the Investor.</recitals>
  <recitals>The Company presently lacking the funds to repay that debt in cash, the Company is prepared to issue equity to the Investor in future.</recitals>
  <recitals>The Investor and the Company desire and wish to enter into this Agreement to regulate the relationship between the Parties.</recitals>

  <para_1><span_smallcaps>It is hereby agreed</span_smallcaps> as follows:</para_1>

  <a_left_sidehead>Definitions</a_left_sidehead>
  <numbered_2_para>In this Agreement, except to the extent that the context otherwise requires, the following terms shall have the meanings set forth below:</numbered_2_para>
  <definition>Articles	means the Regulations in the Constitution of the Company.</definition>
  <definition>Payment to Third-Party	The payment of <?=data.third_party_payment_amount?> to a person named <?= data.third_party_name?> (the "Third Party").</definition>
  <definition>Principal	means <?=data.new_investor.new_commitment?>, that being agreed as the Singapore Dollar equivalent of the Payment to Third Party.</definition>

  <a_left_sidehead>Condition Precedent</a_left_sidehead>
  <numbered_2_para>This Agreement shall be effective when the Investor delivers to the Company evidence of the transfer of funds, either</numbered_2_para>
  <numbered_3_para>from the Investor to the Third Party as described in "Payment to Third-Party"; or</numbered_3_para>
  <numbered_3_para>from the Principal from the Investor to the Company.</numbered_3_para>

  <a_left_sidehead>Subscription</a_left_sidehead>
  <numbered_2_para>The Parties agree to recognize a resulting debt of <?= data.new_investor.new_commitment ?> (the &#8220;Investment Amount&#8221;) owed by the Company in the form of a convertible promissory note (the &#8220;Note&#8221;) issued by the Company to the Investor.</numbered_2_para>

  <a_left_sidehead>Total Round Size</a_left_sidehead>
  <numbered_2_para>The Note issued to the Investor may form part of a series of such Notes issued on essentially identical terms (the "Series") except that the Investor, Investment Amount<?= data.variable_terms ?data.variable_terms:","?> and Closing Date may change from Note to Note. The total amount of the Series shall not exceed <?= data.amount_raising ?> without the written agreement of all the holders of the Notes in the Series currently outstanding.</numbered_2_para>

  <a_left_sidehead>Maturity Date</a_left_sidehead>
  <numbered_2_para>The Principal <? if (data._orig_interest != 0) { ?>and unpaid accrued interest on<? } else { ?>of<? } ?> the Note will be due and payable <?= data.term ?> from the date of the signing of this Agreement (the &#8220;<b>Maturity Date</b>&#8221;).</numbered_2_para>


  <a_left_sidehead>Interest</a_left_sidehead>
  <numbered_2_para><? if (data._orig_interest != 0) { ?>
Interest on the Note will accrue on an annual basis at the rate of <?= data.interest ?> per annum based on a 365 days year.<? } else { ?>
The Note shall bear no interest. <? } ?>
</numbered_2_para>


<a_left_sidehead>Repayment</a_left_sidehead>

<numbered_2_para>The Company may repay the Principal<? if (data._orig_interest != 0) { ?>and unpaid accrued interest<? }?> at any time prior to the Maturity Date, or conversion, whichever is sooner.</numbered_2_para>


<a_left_sidehead>Automatic Conversion</a_left_sidehead>
  <numbered_2_para><b>Automatic Conversion at the Maturity Date.</b> On the Maturity Date, the Note, and any accrued but unpaid interest thereon, will automatically convert into Equity Securities at <?= (100 - 100*data._orig_maturity_conversion_discount).toFixed(2) ?>% of the Conversion Price.</numbered_2_para>

<a_left_sidehead>Optional Conversion</a_left_sidehead>
<numbered_2_para>At any time prior to the Maturity Date, the Company may elect to convert the entire Investment Amount into Equity Securities at the Conversion Price.</numbered_2_para>

<a_left_sidehead>Conversion Price</a_left_sidehead>
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