RE: Highest price paid7 Dec 2024 12:50
This will be signed off in the next two weeks,
Conditional Terms of Investment:
The Company (the "Lender") has entered a Conditional Convertible Loan Note Agreement ("CLN") with EVOO AI plc. Under the terms of the CLN, the Company has 30-days to finalise due diligence, and any approvals required to proceed.
Conditionality of the CLN:
· The Lender's obligation to advance funds under this Loan Note instrument is subject to the Company having available financial resources which may require external debt and/or equity financing for which the Company are considering and the completion of satisfactory due diligence by the Lender which must be completed within a maximum period of 30 days from the date of signing this agreement. The Lender shall, within this period, confirm whether due diligence has been completed to its satisfaction. Upon such confirmation, and the Lender's decision to proceed, the following Loan Note Terms shall come info full effect.
Loan Note Terms:
· The total principal amount of the loan facility is £300,000, to be advanced in two separate tranches as follows:
o Tranche 1: £200,000 - to be advanced on or before 30 days from the date of this instrument.
o Tranche 2: £100,000 - to be advanced at the election of the Lender, but on or before 60 days from the date of this instrument.