8% Convertible Promissory Note between All Fuels & Energy Company and Jinsun, LLC (Due September 1, 2013)

Contract Categories: Business Finance Note Agreements
Summary

All Fuels & Energy Company issued an 8% Convertible Promissory Note to Jinsun, LLC for $88,200, due September 1, 2013. The note accrues 8% annual interest and can be converted by the holder into company common stock at a set price, subject to certain conditions. The company must repay the principal and interest by the maturity date unless converted. The agreement outlines events of default, transfer restrictions, and the holder’s rights. The note is governed by a related Securities Purchase Agreement and applicable securities laws.

EX-10.6 17 ex10-6.htm EXHIBIT 10.6
EXHIBIT 10.6
 


THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”). THESE SECURITIES MAY BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED ONLY (A) TO THE COMPANY, (B) OUTSIDE THE UNITED STATES IN COMPLIANCE WITH RULE 904 OF REGULATION S UNDER THE SECURITIES ACT, (C) IN COMPLIANCE WITH RULE 144 OR 144A THEREUNDER, IF AVAILABLE, AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS, (D) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT, OR (E) IN A TRANSACTION THAT DOES NOT REQUIRE REGISTRATION UNDER THE SECURITIES ACT OR ANY APPLICABLE STATE SECURITIES LAWS, AND THE HOLDER HAS, PRIOR TO SUCH SALE, FURNISHED TO THE COMPANY AN OPINION OF COUNSEL OR OTHER EVIDENCE OF EXEMPTION, IN EITHER CASE REASONABLY SATISFACTORY TO THE COMPANY. HEDGING TRANSACTIONS INVOLVING THESE SECURITIES MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE U.S. SECURITIES ACT.


8% CONVERTIBLE PROMISSORY NOTE


ALL FUELS & ENERGY COMPANY


DUE September 1, 2013


Original Issue Date August 16, 2011                                                                               US$88,200