Collaborative Profit Program
This Term Sheet represents an understanding of the parties with respect to the Collaborative Profit Program. This summary constitutes as a legally binding obligation. Any other legally binding obligation and is made pursuant to the definitive agreement detailed.
Funds Recipient: YGS Entertainment S.L, a business incorporated under the laws of [Spain] (the “Business”)
Collaborative Profit Program (the “Bridge”)
Terms of the ‘Bridge’
Bridge repayment: The ‘Bridge’ provider will have the right to receive a monthly return of 15% (€37,500 returned for every €250,000 put in ) This is based upon the Profits of Street team activity and the related new business subscribers.
The Business will include the Bridging Loan Provider in communication that conveys team development and achievements.
This agreement is not transferable.
Bridging Loan Agreement: The Business and bridging Loan Provider (Participant) will enter into a Bridging Loan agreement containing standard representations and warranties.
The Collaborative Profit Program utilises the activity of YGS Street Team registrations of 480 new Business Subscriptions to the platform monthly. (Figures are based on one active Street team of 10 members).
The Program runs for 20 Months from January 2019 to end of August 2020. Yielding a 15% monthly pay-back (Starting from end of January 2019), for those who participate.
Availability for participants is based on a first come first served basis. There are 10 blocks of €250,000 available in total.
This Profit Program gives cash injection to the YGS business plan and road-map, as detailed in the YGS Overview document.
These terms for 20 Months from 1st January, 2019, and will expire on 31st of August 2020.
For a period of 20 Months, the Business agrees to uphold the Monthly payments of 15% of generated Business Subscription’s profits to the contracted participant. The Business will not disclose these terms to anyone other than officers, directors, key service providers, in this financing.
This Term Sheet may be executed in counterparts, which together will constitute one document. Electronic signatures shall have the same legal effect as original signatures.