Examples of Promissory Note in a sentence
The Administrative Agent shall have received from the Qualified Borrower a signed certificate of a Responsible Officer of the Qualified Borrower which shall certify the names of the Persons authorized to sign the Qualified Borrower Promissory Note and the other documents or certificates to be delivered pursuant to the terms hereof by such Qualified Borrower, together with the true signatures of each such Person.
This Agreement shall apply to a Term Loan in the original principal amount of $1,500,000.00 (the “Term Loan”) as evidenced by a Promissory Note (“Term Loan Note”) executed on June 11, 2024.
Any documents or certificates issued to evidence ownership of the Promissory Note will bear restrictive legends notifying prospective purchasers of the transfer restrictions set forth above, and the Company will not permit transfer of any Note on the books of the Company in violation of such restrictions.
In the absence of an Event of Default, the Term Loan shall mature and shall be due and payable in the manner and on the dates set forth in the Promissory Note, as the same has been or may hereafter be amended from time to time, but in no event later than July 1, 2046.
Section 4 of the Promissory Note is hereby amended to change the Default Rate set forth therein from five percent (5%) to eight percent (8%) per annum, or the maximum rated permitted by applicable law, whichever is less.