SEC Contract Filing

Filing Date: 2015-09-21

Document Content:
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<TYPE>EX-10.37
<SEQUENCE>8
<FILENAME>ex10-37.htm
<DESCRIPTION>CONVERTIBLE PROMISSORY NOTE WITH JMJ INVESTMENT
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<div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="FONT-WEIGHT: bold">Exhibit 10.37</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">THIS NOTE AND THE SHARES ISSUABLE UPON CONVERSION OF THIS NOTE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED.&#160;&#160;THIS NOTE AND THE SHARES ISSUABLE UPON CONVERSION OF THIS NOTE MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT OR APPLICABLE EXEMPTION OR SAFE HARBOR PROVISION.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; FONT-WEIGHT: bold">CONVERTIBLE PROMISSORY NOTE</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">FOR VALUE RECEIVED, <font style="DISPLAY: inline; FONT-WEIGHT: bold">Jammin Java Corp.</font>, a Nevada corporation (the &#8220;Issuer&#8221; of this Security) with at least 125,000,000 common shares issued and outstanding, issues this Security and promises to pay to JMJ Financial, a Nevada sole proprietorship, or its Assignees (the &#8220;Investor&#8221;) the Principal Sum along with the Interest Rate and any other fees according to the terms herein.&#160;&#160;This Note will become effective only upon execution by both parties and delivery of the first payment of Consideration by the Investor (the &#8220;Effective Date&#8221;).</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The Principal Sum is up to $1,000,000 (one million) plus accrued and unpaid interest and any other fees.&#160;&#160;The Consideration is $900,000 (nine hundred thousand) payable by wire (there exists a $100,000 original issue discount (the &#8220;OID&#8221;)).&#160;&#160;The Investor shall pay $350,000 of Consideration upon closing of this Note.&#160;&#160;The Investor may pay additional Consideration to the Issuer in such amounts and at such dates as the Investor may choose, however, the Issuer has the right to reject any of those payments within 2 business days of receipt of rejected payments.&#160;&#160;<font style="DISPLAY: inline; FONT-WEIGHT: bold">THE PRINCIPAL SUM DUE TO THE INVESTOR SHALL BE BASED ON THE CONSIDERATION ACTUALLY PAID BY INVESTOR (PLUS AN APPROXIMATE 10% ORIGINAL ISSUE DISCOUNT THAT IS BASED ON THE CONSIDERATION ACTUALLY PAID BY THE INVESTOR AS WELL AS ANY OTHER INTEREST OR FEES)</font> <font style="DISPLAY: inline; FONT-WEIGHT: bold">SUCH THAT THE ISSUER IS ONLY REQUIRED TO REPAY THE AMOUNT FUNDED AND THE ISSUER IS NOT REQUIRED TO REPAY ANY UNFUNDED PORTION OF THIS NOTE</font>.&#160;&#160;The Maturity Date is two years from the Effective Date of each payment (the &#8220;Maturity Date&#8221;) and is the date upon which the Principal Sum of this Note, as well as any unpaid interest and other fees, shall be due and payable.&#160;&#160;The Conversion Price is the lesser of $0.75 or 65% of the average of the two lowest closing prices in the 20 trading days previous to the conversion (In the case that conversion shares are not deliverable by DWAC an additional 10% discount will apply; and if the shares are ineligible for deposit into the DTC system and only eligible for Xclearing deposit an additional 5% discount shall apply; in the case of both an additional cumulative 15% discount shall apply), provided, however, that unless otherwise agreed by mutual written agreement the Conversion Price shall not be less than