The Promissory Note Clause Samples

The Promissory Note. At the Closing, DPW shall wire to an account designated by DPWF, the amount of $9,000,000 (the “Closing Funds”) and DPWF shall deliver, as consideration the receipt from DPW of the Closing Funds, the Promissory Note to DPW, which shall be in substantially the form attached hereto as Exhibit B.

The Promissory Note. An Assignment and Assumption Agreement, in substantially the form attached as EXHIBIT E hereto;

The Promissory Note. When the Company executes and delivers this Agreement to Sponsor, the Company also will execute and deliver to Sponsor a Promissory Note in the form of Exhibit A hereto (the "Note"). The Note will evidence the Company's obligation to repay the Previously Advanced Amount and all Advances Sponsor makes pursuant to this Agreement.

The Promissory Note. The Promissory Note has been duly authorized, executed and delivered by the Company and constitutes a valid and legally binding obligation of the Company enforceable against the Company in accordance with its terms, except as enforceability may be limited by applicable bankruptcy, insolvency or similar laws affecting the enforcement of creditors’ rights generally or by equitable principles relating to enforceability.

The Promissory Note. In consideration for Holder removing the above described covenants from the Promissory Note, Maker does hereby grant to Holder warrants to purchase stock of Maker based on the following terms and conditions:

The Promissory Note. The promissory note is the legally binding document that is evidence of a borrower’s indebtedness to a school. A student must sign this note before he or she can receive any ▇▇▇▇▇▇▇ Loan funds and must be given a copy of the note at (or before) the exit interview. The note includes information about the loan’s interest rate, repayment terms, and minimum rates of repayment; deferment, forbearance, and cancellation provisions; collection costs; attorney fees; and late charges. The Department has issued two sets of different promissory notes, either of which a school may use. Dear Colleague Letter CB-93-9, dated July 1993, included information and sample promissory notes. The Department issued redesigns of the July␣ 1993 promissory notes in Dear Colleague Letter CB-96-8, dated May␣ 1996. Both sets of notes (July␣ 1993 and May␣ 1996) include all changes required by the Higher Education Amendments of 1992. A school must use a promissory note that the Department has approved; the school may make only nonsubstantive changes to the note (such as changes to the type style or the addition of items such as the borrower’s driver’s license number). A promissory note must state that the school is required to disclose to any one of the national credit bureaus with which the Department has an agreement the amount of the loan made to the borrower along with other relevant information. The note must also state that if the borrower Minor who signs promissory note‌ defaults on the loan, the school or the Department, if the loan is assigned to the Department for collection, is required to disclose the default and any other relevant information to the same national credit bureau to which the loan was originally reported. The Higher Education Amendments of 1992 eliminated the “defense of infancy,” whereby the signing of a contract by a minor would not create a binding obligation. Under this provision of the law, a minor may sign a promissory note without an endorser or any security, and the minor who signs is responsible for repayment regardless of any state law to the contrary. If the school does not have a valid note or other written evidence that would be upheld in a court of law, the school has no recourse against a borrower who defaults. In such cases, the school would have to repay to its ▇▇▇▇▇▇▇ Loan fund any amounts loaned, whether recovered from the borrower or not, as well as any Administrative Cost Allowance (ACA) claimed on those amounts. Two examples of invalid notes...

The Promissory Note. The Company, upon the Target Group has achieved the Guaranteed Profit in the Profit Guarantee Period, shall issue to the Vendor the Promissory Note in the principal amount of HK$10,000,000 on the following principal terms: Issuer : The Company Principal amount : HK$10,000,000 Interest : Nil Maturity Date : 1 year Repayment : Due and repayable on the Maturity Date Transferability : Neither the Company nor the holder(s) of the Promissory Note may assign any of its rights and obligations without the prior written consent of the other party Early redemption : No early redemption right Completion shall be conditional upon and subject to:

The Promissory Note. The indebtedness, obligations and liabilities of the Borrower to the Lender existing on the date of this Agreement or arising thereafter, direct or indirect, joint or several, absolute or contingent, matured or unmatured, liquidated or unliquidated, secured or unsecured, arising by contract, operation of law or otherwise, to the extent that any such obligation arises or is incurred under this Agreement or any of the other Loan Documents or in respect of any of the Advances or the Note or other instruments at any time evidencing any thereof. Permitted Encumbrances. Those encumbrances on the Mortgaged Property permitted by the Security Deed.

The Promissory Note evidencing the Unsecured Past Advance Loan shall contain such provisions respecting defaults and remedies as are usual and customary in commercial financing transactions of the type herein described, including appropriate cross default provisions.