Common Contracts
2 similar Promissory Note contracts by Kronos Advanced Technologies Inc
PROMISSORY NOTE (REAL ESTATE LOAN)Promissory Note • January 11th, 2023 • Kronos Advanced Technologies Inc • Industrial & commercial fans & blowers & air purifing equip
FOR VALUE RECEIVED, the undersigned KRONOS ADVANCED TECHNOLOGIES, INC., a Nevada corporation (“KAT”) and KRONOS ADVANCED TECHNOLOGIES WV, INC., a West Virginia corporation (KATWV and together with KAT, the “Borrowers”), hereby promise to pay to the order of WEST VIRGINIA ECONOMIC DEVELOPMENT AUTHORITY, the sum of One Million Eight Hundred Forty Five Thousand and 00/100 Dollars ($1,845,000.00) over a term of one hundred eighty (180) months, with interest at the rate of three and thirty-nine one hundredths percent (3.390%) per annum on the unpaid principal balance from the date hereof through and including the 59th month after the date hereof. The interest rate shall adjust in the 60th month, on April 7, 2027, and in the 120th month, on April 7, 2032, and shall be equal to the greater of (i) the rate from the third previous business day of the 20-year U.S. Treasury Security (as such rate is stated in the daily Treasury Yield Curve Rates section of the U.S. Treasury official website www.u
PROMISSORY NOTE (REAL ESTATE LOAN)Promissory Note • April 25th, 2022 • Kronos Advanced Technologies Inc • Industrial & commercial fans & blowers & air purifing equip
FOR VALUE RECEIVED, the undersigned KRONOS ADVANCED TECHNOLOGIES, INC., a Nevada corporation (“KAT”) and KRONOS ADVANCED TECHNOLOGIES WV, INC., a West Virginia corporation (KATWV and together with KAT, the “Borrowers”), hereby promise to pay to the order of WEST VIRGINIA ECONOMIC DEVELOPMENT AUTHORITY, the sum of One Million Eight Hundred Forty Five Thousand and 00/100 Dollars ($1,845,000.00) over a term of one hundred eighty (180) months, with interest at the rate of three and thirty-nine one hundredths percent (3.390%) per annum on the unpaid principal balance from the date hereof through and including the 59th month after the date hereof. The interest rate shall adjust in the 60th month, on April 7, 2027, and in the 120th month, on April 7, 2032, and shall be equal to the greater of (i) the rate from the third previous business day of the 20-year U.S. Treasury Security (as such rate is stated in the daily Treasury Yield Curve Rates section of the U.S. Treasury official website www.u
