Note Receivable Promissory Note Clause Samples
A Note Receivable Promissory Note clause establishes the obligation of one party (the borrower) to repay a specified sum of money to another party (the lender) under agreed terms. This clause typically outlines the principal amount, interest rate, repayment schedule, and any applicable penalties for late payment. By clearly defining the terms of repayment, it provides legal assurance to the lender and helps prevent disputes over the loan's conditions or repayment timeline.
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Note Receivable Promissory Note. Section 1.1(ooo) of the Loan Agreement is hereby deleted in its entirety and replaced by the following:
Note Receivable Promissory Note. The Second Amended and Restated Note Receivable Promissory Note evidencing the Loan executed and delivered by Borrower and Guarantor to Lender concurrently with the Second Modification Agreement.
Note Receivable Promissory Note. The Third Amended and Restated Note Receivable Promissory Note evidencing the Loan executed and delivered by Borrower and Guarantor to Lender concurrently with the Third Modification Agreement.