If I'm a hot deal in NY or SOMA, maybe I can raise and close an angel round in a few weeks. But if I'm not in the inner circles and in the hotbed, if I'm in, say, Lancaster, PA, or BumbleFuck Kentucky (hi andy!), So, context matters to deal structure. So maybe the guidance for deal docs should be this: Convertible Debt: for founders who need a rolling close so the cash can come in as it's raised. I hate that title, but it's Saturday night and I'm feeling saucy.