SEC Contract Filing

Filing Date: 2018-07-30

Document Content:
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>ex103bellridge-asticonvert.htm
<DESCRIPTION>EXHIBIT 10.3
<TEXT>
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<div><a name="s993C9433C26AF5FE0A41E29260883738"></a></div><div></div><div><br></div><div style="line-height:120%;text-align:right;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">EXHIBIT 10.3</font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="line-height:120%;text-align:justify;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">THIS PROMISSORY NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I)&#160;IN THE ABSENCE OF (A)&#160;AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (B)&#160;AN OPINION OF COUNSEL (WHICH COUNSEL SHALL BE SELECTED BY THE HOLDER), IN A GENERALLY ACCEPTABLE FORM, THAT REGISTRATION IS NOT REQUIRED UNDER SAID ACT OR (II)&#160;UNLESS SOLD PURSUANT TO RULE 144 OR RULE 144A UNDER SAID ACT. NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE SECURITIES.</font></div><div style="line-height:120%;font-size:11pt;"><div style="padding-left:0px;text-indent:0px;line-height:normal;padding-top:10px;"><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:98.52941176470588%;border-collapse:collapse;text-align:left;"><tr><td colspan="3"></td></tr><tr><td style="width:46%;"></td><td style="width:13%;"></td><td style="width:41%;"></td></tr><tr><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;height:18px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td></tr><tr><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:1px;"><div style="text-align:left;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Principal Amount: $300,000.00</font></div></td><td style="vertical-align:bottom;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="overflow:hidden;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">&#160;</font></div></td><td style="vertical-align:top;padding-left:2px;padding-top:2px;padding-bottom:2px;padding-right:2px;"><div style="text-align:right;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Issue Date: July 25, 2018</font><font style="font-family:inherit;font-size:10pt;">&#160;<br></font></div><div style="text-align:right;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;"><br></font></div><div style="font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div></td></tr></table></div></div><div style="line-height:120%;padding-top:16px;text-align:center;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;text-decoration:underline;">CONVERTIBLE PROMISSORY NOTE</font></div><div style="line-height:120%;padding-top:16px;text-align:justify;text-indent:48px;font-size:11pt;"><font style="font-family:inherit;font-size:11pt;font-weight:bold;">FOR VALUE RECEIVED, ASCENT SOLAR TECHNOLOGIES, INC.</font><font style="font-family:inherit;font-size:11pt;">, a Delaware corporation (hereinafter called &#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Borrower</font><font style="font-family:inherit;font-size:11pt;">&#8221;), hereby promises to pay to </font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">BELLRIDGE CAPITAL, LP,</font><font style="font-family:inherit;font-size:11pt;">&#32;a Delaware limited partnership, or its assigns (the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Holder</font><font style="font-family:inherit;font-size:11pt;">&#8221;</font><font style="font-family:inherit;font-size:10pt;">&#32;</font><font style="font-family:inherit;font-size:11pt;">and together with the Borrower, the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Parties</font><font style="font-family:inherit;font-size:11pt;">&#8221;) or order, without demand, the sum of Three Hundred Thousand Dollars ($300,000) (&#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Principal Amount</font><font style="font-family:inherit;font-size:11pt;">&#8221;), and to pay interest on the unpaid principal balance hereof at the rate of twelve percent (12%) (the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Interest Rate</font><font style="font-family:inherit;font-size:11pt;">&#8221;) per annum, accruing thereon from July 25, 2018 and maturing on January 25, 2019 (the &#8220;</font><font style="font-family:inherit;font-size:11pt;font-weight:bold;">Maturity Date</font><font style="font-family:inherit;font-size:11pt;">&#8221;) together with all accrued and