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MAK ASSET MANAGEMENT LTD.
CONVERTIBLE DEBT TERM SHEET
This is a summary of the principal terms of a financing (the “Financ...
Security Interest: The security is secured and shall be equity
and Director’s guarantee
Offering Mechanics
Purchase Agreem...
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Mak term sheet

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Mak term sheet

  1. 1. MAK ASSET MANAGEMENT LTD. CONVERTIBLE DEBT TERM SHEET This is a summary of the principal terms of a financing (the “Financing”) of MAK Asset Management Ltd., a fund management company (the “Company”). This term sheet is an expression of intent only, does not express the agreement of the parties, is not meant to be binding on the parties, and is meant to be used as a negotiation aid by the parties. The parties do not intend to be bound until they enter into conclusive agreements regarding the subject matter of this term sheet. Financing Terms Issuer: MAK Asset Management Ltd. (the “Company”) Financing Amount: Maximum of $250,000 Closing: The Company may close the sale of the Notes (as defined below) in multiple closings to such Lenders as may be approved by the Company. The initial closing is anticipated to on or around February 6, 2014. Terms of Debts Promissory Notes (“Notes”): The Company shall issue Debt certificates in exchange for amounts loaned by the Lenders. Maturity: Principal and unpaid accrued interest on the Debt shall be due and payable upon demand of a majority in interest of the Lenders following the date that is 24 months following the issuance of each such Note (the “Maturity Date”). Interest: Interest shall accrue on an annual basis at the rate of 5% per annum, compounded annually. Acquisition: If the Company is acquired prior to the Next Equity Financing, the Debt may, at the Investor’s election either convert to Common Stock immediately prior to the consummation of the acquisition at the Cap or be repaid in full. Pre-Payment: The principal and accrued interest may not be prepaid without the approval of a majority in interest of the Lenders. Subordination: The Notes will be subordinate in right of payment to all current and future certain indebtedness to banks and other financial institutions.
  2. 2. Security Interest: The security is secured and shall be equity and Director’s guarantee Offering Mechanics Purchase Agreement: The loans will be made pursuant to a Note Purchase Agreement prepared by the Company’s legal counsel, Kyidom Chambers, Accra, Ghana. Expenses: The Company and Lenders will each bear their own legal and other expenses with respect to the financing.

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  • MAKAsset01

    Jan. 20, 2014

Check out our deal on crowdfunder through this link https://www.crowdfunder.com/makasset

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