Standard Contracts
Promissory Note (the “Note”)Promissory Note • August 16th, 2024 • Transportation & Logistics Systems, Inc. • Transportation services • Nevada
FOR VALUE RECEIVED, the undersigned TRANSPORTATION AND LOGISTICS SYSTEMS, INC., a Nevada corporation (the “Borrower”), promises to pay to the order of CAVALRY FUND I MANAGEMENT, LLC, its successors or assigns (the “Lender”), SEVENTY FIVE THOUSAND DOLLARS ($75,000) (the “Face Amount”) by the 6 month anniversary of the date hereof (the “Maturity Date”), together with simple interest on the principal amount outstanding from time to time at the interest rate of 10% per annum, calculated on the basis of actual days elapsed and a 365-day year (the “Interest Rate”), as provided herein or on such earlier date as this Note is required or permitted to be repaid as provided hereunder.
