Common use of Satisfaction of Note Clause in Contracts

Satisfaction of Note. Holder acknowledges, that upon receipt of payment of the sum of $50,000 from Borrower, full payment of the indebtedness and satisfaction of the Note has occurred. Holder further consents to Borrower being able to rely on the satisfaction set forth herein.

Satisfaction of Note. Holder acknowledges, that upon receipt of payment of the sum of $50,000 from BorrowerBorrower plus accrued interest on the date of the Note through the date hereof, full payment of the indebtedness and satisfaction of the Note has occurred. Holder further consents to Borrower being able to rely on the satisfaction set forth herein.