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In this video tutorial, Scott from Cruise Consulting explains a sample convertible note agreement. He advises using a law firm's template for documentation but provides this template for informational purposes. Key points include the amount, term for repayment or extension, valuation cap, and common vs. preferred conversion. It is important to understand these concepts when dealing with convertible notes, especially when working with institutional VCs. Scan through the template to learn more about each element.
