Convertible Promissory Note Term Sheet

The Term Sheet accompanies the Note Purchase Agreement and Convertible Promissory Notes in a Convertible Debt financing package. On its own the Term Sheet has no significance (it is not an agreement nor is it legally binding on either your startup or its prospective lenders). The Term Sheet is simply a summary of the basic proposals and conditions contained in a Note Purchase Agreement, the terms under which the Convertible Promissory Notes (the form Convertible Promissory Notes recognize the lender’s loan) will be issued. The Term Sheet is not completely valueless. Often it can help foster discussions between your startup and its lenders en route to a Note Purchase Agreement.


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Convertible Debt Documents Package


Package Includes

  • Board Approval of Convertible Promissory Note Financing
  • Convertible Promissory Note
  • Convertible Promissory Note Purchase Agreement
  • Convertible Promissory Note Term Sheet

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