Convertible note agreement, recognised start-up, single tranche of Rs 25 lakh or more

CONVERTIBLE NOTE AGREEMENT

THIS CONVERTIBLE NOTE AGREEMENT is made at [Place of signing the agreement] on this [Day of the month the agreement is made] day of [month, year]

Between

1. [Name] Private Limited, a company incorporated under the Companies Act 2013 bearing CIN [CIN] and PAN [PAN], having its registered office at [Company's registered office address], recognised as a start-up by the Department for Promotion of Industry and Internal Trade under recognition certificate no. [DPIIT start-up recognition certificate number] dated [Date of start-up recognition certificate] (the “Company”) of the First Part; and

2. [Name of the noteholder], [description, PAN / registration number, jurisdiction], residing at / having its office at [Noteholder's address] (the “Noteholder”) of the Second Part.

Whereas

A. The Company carries on the business of [describe] (the “Business”) and requires bridge funding pending a priced equity financing round.