Form 8-K for TAURIGA SCIENCES, INC.
13-Oct-2015
Entry into a Material Definitive Agreement, Creation of a Direct Financial
Upon the occurrence of an Event of Default (as defined in the Note), any unpaid amounts of principal or interest currently outstanding under the Note shall become immediately due and payable and bear interest from the date of the Event of Default at the lesser of (i) a rate of eighteen percent (“18%”) per annum or
(ii) the maximum rate of interest permitted under applicable law. A failure of the Company to make the required principal and interest payment on the Maturity Date is deemed an Event of Default.
The Note contains customary representations, warranties and covenants from the Company to ASP.
The foregoing description of the Note is qualified in its entirety by reference to the provisions of the form of the Note filed as Exhibit 10.1 to this Current Report on Form 8-K, which is incorporated herein by reference.
10.1 Bridge Loan and Security Agreement dated October 2, 2015 between Tauriga Sciences, Inc. and Alternative Strategy Partners PTE. LTD.
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