Board Resolutions: Convertible Note Financing with Stand-Alone Notes (Seed-Stage Startup) | Practical Law
Resolutions of a board of directors approving a startup seed financing in which the company issues stand-alone convertible notes without a separate note purchase agreement (NPA). These resolutions are formatted as standard clauses and should be inserted into board minutes or a form of unanimous written consent. These Standard Clauses have integrated notes with important explanations and drafting tips.