SEC Contract Filing

Filing Date: 2019-04-16

Document Content:
<DOCUMENT>
<TYPE>EX-10.95
<SEQUENCE>20
<FILENAME>cool_ex1095.htm
<DESCRIPTION>CONVERTIBLE PROMISSORY NOTE
<TEXT>
<html><head><title>cool_ex1095.htm</title><!--Document Created by EDGARMaster--></head><BODY spellcheck="true" style="text-align:justify;font:10pt TIMES NEW ROMAN;margin:0px 7%"><p style="MARGIN: 0px" align="right"><b>EXHIBIT 10.95</b></p> <p style="MARGIN: 0px">&nbsp;</p> <p style="MARGIN: 0px" align="justify"><b>NEITHER THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE NOR THE SECURITIES INTO WHICH THESE SECURITIES ARE CONVERTIBLE HAVE 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 IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (B) 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. 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.</b></p> <p style="MARGIN: 0px">&nbsp;</p> <p style="MARGIN: 0px" align="center"><b>THE ISSUE PRICE OF THIS NOTE IS $152,000.00</b></p> <p style="MARGIN: 0px" align="center"><b>THE ORIGINAL ISSUE DISCOUNT IS $14,000.00</b></p> <p style="MARGIN: 0px">&nbsp;</p> <p style="MARGIN: 0px"><b> <table style="TEXT-ALIGN: justify; FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td valign="top" width="50%"><b>Principal Amount: $152,000.00 </b></td> <td valign="top"> <p style="MARGIN: 0px" align="right"><b>Issue Date: December 10, 2018</b></p></td></tr> <tr> <td> <p style="MARGIN: 0px"><b>Purchase Price: $138,000.00</b></p></td> <td> <p style="MARGIN: 0px">&nbsp;</p></td></tr></table>&nbsp;</b></p> <p style="MARGIN: 0px" align="center"><b style="MARGIN: 0px"><u>CONVERTIBLE PROMISSORY NOTE</u></b></p> <p style="MARGIN: 0px">&nbsp;</p> <p style="MARGIN: 0px; TEXT-INDENT: 45px" align="justify"><b>FOR VALUE RECEIVED, COOL TECHNOLOGIES, INC., </b>a Nevada corporation (hereinafter called the "Borrower"), hereby promises to pay to the order of <b>POWER UP LENDING GROUP LTD., </b>a Virginia corporation, or registered assigns (the "Holder") the sum of $152,000.00 together with any interest as set forth herein, on December 10, 2019 (the "Maturity Date"), and to pay interest on the unpaid principal balance hereof at the rate of eight percent (8%} (the "Interest Rate") per annum from the date hereof (the "Issue Date") until the same becomes due and payable, whether at maturity or upon acceleration or by prepayment or otherwise. This Note may not be prepaid in whole or in part except as otherwise explicitly set forth herein. Any amount of principal or interest on this Note which is not paid when due shall bear interest at the rate of twenty two percent (22%} per annum from the due date thereof until the same is paid ("Default Interest"). Interest shall be computed on the basis of a 365 day year and the actual numberof days elapsed. Interest shall commence accruing on the Issue Date but shall not be payable until the Note becomes payable (whether at Maturity Date or upon acceleration or by prepayment). All payments due hereunder (to the extent not converted into common stock, $0.001 par value per share (the "Common Stock") in accordance with the terms hereof) shall be made in lawful money of the United States of America. All payments shall be made at such address as the Holder shall hereafter give to the Borrower by written notice made in accordance with the provisions of this Note. Each capitalized term used herein, and not otherwise defined, shall have the meaning ascribed thereto in that certain Securities Purchase Agreement dated the date hereof, pursuant to which this Note was originally issued (the "Purchase Agreement").</p> <p style="MARGIN: 0px; TEXT-INDENT: 45px">&nbsp;</p> <p style="MARGIN: 0px; TEXT-INDENT: 45px" align="justify">This Note is free from all taxes, liens, claims and encumbrances with respect to the issue thereof and shall not be subject to preemptive rights or other similar rights of shareholders of the Borrower and will not impose personal liability upon the holder t hereof.</p> <p style="MARGIN: 0px; TEXT-INDENT: 45px">&nbsp;</p> <p style="MARGIN: 0px; TEXT-INDENT: 45px">The following terms shall apply to this Note:</p> <p style="MARGIN: 0px">&nbsp; <table id="pagebreakfc5a3238-e5a8-404e-9952-884ba671a733" class="pagebreak" style="FONT: 10pt TIMES NEW ROMAN" cellspacing="0" cellpadding="0" width="100%" border="0"> <tr> <td class="hpbhr">&nbsp;</td></tr> <tr> <td style="BORDER-BOTTOM: black 1px solid; TEXT-ALIGN: center">1</td></tr> <tr> <td> <div style="WIDTH: 100%; PAGE-BREAK-AFTER: always; LINE-HEIGHT: 0px"></div>&nbsp;</td></tr> <tr> <td>&nbsp;</td></tr></table></p> <p style="MARGIN: 0px">&nbsp;</p> <p style="MARGIN: 0px" align="center"><b>ARTICLE I. CONVERSION RIGHTS</b></p> <p style="MARGIN: 0px">&nbsp;</p> <p style="MARGIN: 0px; TEXT-INDENT: 45px" align="justify">1.1 <u>Conversion Right</u>. The Holder shall have the right from time to time, and at any time during the period beginning on the date which is one hundred eighty (180) days following the date of this Note and ending on the later of: (i) the Maturity Date and (ii) the date of payment of the Default Amount (as defined in Article Ill), each in respect of the remaining outstanding principal amount of this Note to convert all or any part of the outstanding and unpaid principal amount of this Note into fully paid and non-assessable shares of Common Stock, as such Common Stock exists on the Issue Date, or any shares of capital stock or other securities of the Borrower into which such Common Stock shall hereafter be changed or reclassified at the conversion price (the "Conversion Price") determined as pr