TERMS & CONDITIONS This is an agreement of understanding between the presenting startup (“Company”) and CitySide Ventures LLC. (“CSV”) Your Company was selected and accepted to present to CitySide Investors Network for the purpose of raising venture funding, The Company hereby agrees to the following terms and conditions:
- In the event that the Company will receive greater than $50k in funding from CitySide Investor Network (CIN) the Company agrees to pay CSV an administration & coordination fee of $2,600 per round of funding. It is a one time fee regardless of the final amount of funding.
- If the Company elects for CSV to Syndicate the deal with investors outside our CitySide Investor Network including our venture partners and the Company receives funding from our partners in the amount that is greater than $50K, CSV will charge an additional administration & coordination fee of $1,800 post funding.
- The administration fee will be billed to the Company upon receiving the funding and clear in the receiving company bank account. The Company will be required to pay the invoice within 7 business days.
- It is understood by the Company that all verbal or nonverbal commitments that are made by the CitySide Investor Network for funding are based on the information provided by the Company. In the event that any or part of the information to be found to be inaccurate, misleading or misrepresented, all deals and financial commitments will be immediately void.
- The Company agrees to honor the commitment for investment by CitySide Investors Network or by SPV created by CSV if completed within 30-days of the Showcase presentation. The Company founders and management team will make themselves available for up to 2 face-to-face and/or videos (call) conferences that will be scheduled in advance of closing.
- The Company founders and the management team agree to receive private calls from individual investors and respond within 48 hours.
- The Company hereby agrees and permits CSV to post the name of the Company on the CSV webpage with name and logo and publish a press release with a portfolio update after funding that will be approved by the Company.
- The Company is hereby prohibited from disclosing any information pertaining to CitySide Investor Network including name and contact information, CSV business operations, and practices without the expressed permission of CSV.
POST INVESTMENT REQUIREMENTS: To make sure that we are clear on our philosophy and process we have created the following requirement guidelines following an investment from CSV, CAN and or Birmingham Angels.
- The Founder(s) will be available for a monthly 15 to 30-minutes “Check-Point” call for a quick update.
- The Founder(s) will send a quarterly update to CSV using our web link: http://citysideventures.com/birmingham-angels-portfolio-monthly-update/
- Communicate any breakdowns and or important issues to investors sooner than later.
- In the event of any legal issues arising that might impact the company and possibly the investors, it is paramount that your company will provide all documentation to CSV to be distributed to the investors immediately.
