Vaults

DEMAND PROMISSORY NOTE

By remitting digital currency (the “Loan”) to Ashwind DAO LLC, a Marshall Islands DAO limited liability company (“Borrower”), you (“Lender”) accept the terms and conditions of this Demand Promissory Note and irrevocably agree to be bound hereby.

1. Due on Demand. Borrower promises to pay to the order of Lender the Loan, together with interest thereon as hereinafter provided, promptly ON DEMAND given by Lender to Borrower without the need for any advance notice of any kind.
2. Payments. All payments of interest and principal shall be made in USD Coin to a wallet specified by Lender in writing to Borrower from time to time.
3. Interest. The Loan shall bear interest on the initial principal sum borrowed commencing on and as of the date hereof, to and including the date the Loan is repaid in full, at a rate of [*] percent ([*]%) per annum (the “Applicable Rate”), compounded on a daily basis, and interest shall be payable on a daily basis.
4. Electronic Delivery. Borrower may, in its sole discretion, deliver any documents related to this Note or any notices required by applicable law by email or any other electronic means. Lender hereby agrees to (a) conduct business electronically, (b) receive such documents and notices by such electronic delivery and (c) participate through an on-line or electronic system established and maintained by Borrower or a third party designated by Borrower.
5. Governing Law. This Note and any claim, controversy, dispute or cause of action, whether in contract or tort or otherwise, based upon, arising out of or relating to this Note and the transactions contemplated hereby shall be governed by the laws of the State of New York.
6. Waiver of Jury Trial. BORROWER HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY RELATING TO THIS NOTE OR THE TRANSACTIONS CONTEMPLATED HEREBY WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY.