SEC Contract Filing

Filing Date: 2018-10-09

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>a101securedconvertibleprom.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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<div><a name="sD94FA76DCB43BF521DBB548A0020D064"></a></div><div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">THIS SECURED PROMISSORY NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. NO SALE OR DISPOSITION MAY BE EFFECTED EXCEPT IN COMPLIANCE WITH RULE 144 UNDER SAID ACT OR AN EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL FOR THE HOLDER SATISFACTORY TO THE PAYOR THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE ACT OR RECEIPT OF A NO-ACTION LETTER FROM THE SECURITIES AND EXCHANGE COMMISSION.</font></div><div style="line-height:120%;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">SECURED PROMISSORY NOTE</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Principal Amount: $150,000.00&#160;&#160;&#160;&#160;October 2, 2018</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Purchase Price:</font><font style="font-family:inherit;font-size:12pt;">&#32;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">$125,000.00</font><font style="font-family:inherit;font-size:12pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Thornton, Colorado</font></div><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">For value of $125,000.00 received, Ascent Solar Technologies, Inc., a Delaware corporation (&#8220;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;font-weight:bold;">Payor</font><font style="font-family:inherit;font-size:12pt;">&#8221;), promises to pay to Global Ichiban Ltd or its assigns (&#8220;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;font-weight:bold;">Holder</font><font style="font-family:inherit;font-size:12pt;">&#8221;) the principal sum of One Hundred Fifty Thousand Dollars ($150,000.00) with interest on the outstanding principal amount at the rate of twelve percent (12%) per annum. Interest shall commence with the date of funding. Interest shall be computed on the basis of a year of 365 days for the actual number of days elapsed. The principal and accrued interest on this note (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;font-weight:bold;">Note</font><font style="font-family:inherit;font-size:12pt;">&#8221;) shall be due and payable on October 2, 2019 (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-style:italic;font-weight:bold;">Maturity Date</font><font style="font-family:inherit;font-size:12pt;">&#8221;), provided that the Maturity Date of the Note (as defined below) may be extended with the written consent of Holder.</font></div><div style="line-height:120%;padding-left:0px;padding-bottom:16px;text-align:justify;text-indent:48px;"><font style="padding-bottom:16px;text-align:justify;font-family:inherit;font-size:12pt;padding-right:48px;">1.</font><font style="font-family:inherit;font-size:12pt;">The obligations under this Note will be secured by a lien on substantially all of the Company&#8217;s assets pursuant to the Security Agreement dated November 30, 2017 (the &#8220;Security Agreement&#8221;) entered into between the Payor and Holder. The parties hereto agree that (i) this Note shall be considered and treated for all purposes as one of the &#8220;Notes&#8221; as such term is defined in the Security Agreement and also in that certain Note Purchase and Exchange Agreement dated November 30, 2017, (ii) the obligations under this Note shall be considered part of the &#8220;Obligations&#8221; as such term is defined in the Security Agreement, and (iii) as security for the obligations under this Note, the Payor hereby grants to the Holder a security interest in the Collateral (as such term is defined in the Security Agreement).</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">2.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#160;&#160;&#160;</font><font style="font-family:inherit;font-size:12pt;">The Borrower acknowledges that the Principal Amount of this Note exceeds the Purchase Price (as set forth above) for this Note and that such excess is an original issue discount and shall be fully earned and charged to the Borrower upon the execution of this Note, and shall be paid to the Holder as part of the outstanding principal balance as set forth in this Note.</font></div><div style="line-height:120%;padding-bottom:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">3.</font><font style="font-family:inherit;font-size:10pt;">&#160;&#16