convertible_promissory_note_repayment.clause

name:  Convertible Promissory Note - Repayment

description: This is the Repayment paragraph for a convertible promissory note

category: Convertible Promissory Note, Repayment, Venture Capital, Seed Financing, Tech Stars

parameters:
   Maturity Date:
       type: Date

text:
 #	''''Repayment''''.  All payments of interest and principal shall be in lawful money of the United States of America and shall be made pro rata among all Holders.  All payments shall be applied first to accrued interest, and thereafter to principal.  The outstanding principal amount of the Loan shall be due and payable on [[Maturity Date]] (the “Maturity Date”).