Term Sheet For Series A Preference Shares In Page 15
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16Company or any material part of the shares or assets of the
Company] and shall notify the Lead Investor promptly of any
inquiries by any third parties.
[In the event that the Company breaches this exclusivity obligation
and, prior to [________], closes any of the above-referenced
transactions [without providing the Investors the opportunity to
invest on the same terms as the other parties to such transaction], then
the Company shall pay to the Investors $[_______] upon the closing
of any such transaction as liquidated damages.]
Counterparts:
This Term Sheet may be signed in counterparts, and all of the
counterparts of this Term Sheet taken together shall constitute one
and the same document.
Expenses:
The Company to pay all legal and administrative costs of the
financing, including reasonable fees and expenses of the Investor’
counsel, unless the transaction is not completed because the Investors
withdraw their commitment without cause.
The Company and the Investors will each pay their own fees and
expenses of legal counsel related to the transaction provided that on
successful closing of such transaction, the Company will indemnify
the Lead Investor for such reasonable fees and expenses up to a cap
of $[30,000].
Confidentiality:
The Company will not disclose the terms of this Term Sheet to any
person other than officers, directors and the Company’s accountants
and legal advisors and other potential Investors acceptable to the
Lead Investor, without the written consent of the Lead Investor.
Expiration:
This Term Sheet expires on [_______ __,___] if not accepted by the
Company by that date.
EXECUTED THIS [__] DAY OF [____________] .
[SIGNATURE BLOCKS]
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