Examples of Term Promissory Note in a sentence
The Term Loan is (a) evidenced by a Term Promissory Note in such original principal amount duly executed and delivered by Borrower to Lender concurrently herewith; (b) to be repaid, together with interest and other amounts, in accordance with this Agreement, the Term Promissory Note, and the other Financing Agreements and (c) secured by all of the Collateral.
Principal and interest on the Term Promissory Note shall be payable in the manner and on the dates specified therein.
The Term Loan shall bear interest on the daily outstanding balance of principal at the rate specified in the Term Promissory Note.
In the event the Library raises monies in excess of its Fundraising Goal, all excess monies raised first shall be applied to the Library Project or repayment of the Term Promissory Note dated March 25, 2014, given by the Library to the Town.
Funds not used for completion of the Library Project or repayment of the Term Promissory Note will be added to the endowment of the Library.