Note Modification Agreement Sample Clauses
A Note Modification Agreement is a contractual provision that allows the terms of an existing promissory note to be formally changed or amended by mutual consent of the involved parties. This clause typically outlines the specific terms that may be modified, such as interest rates, payment schedules, or maturity dates, and details the process for documenting and approving such changes. Its core practical function is to provide a clear and legally binding mechanism for adapting the original loan agreement to new circumstances, thereby ensuring flexibility and preventing disputes over informal or unauthorized modifications.
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Note Modification Agreement. Simultaneously with their execution of --------------------------- this Agreement, the parties have executed an agreement of even date herewith (the "Note Modification Agreement") which extends the maturity date of the Note to March 30, 1999, and which provides for payment of principal and interest in one installment on such date.
Note Modification Agreement. 37 Policies ................................................................................................................................5 Premises.............................................................................................................................. 1
Note Modification Agreement. A fully executed Note Modification Agreement.
Note Modification Agreement. Contemporaneously with the execution of this Seventh Amendment to Loan Agreement, the Borrower has executed and delivered a Note Modification Agreement which amends and modifies certain terms of the Existing Note and which reduces the amount to be advanced on the Existing Note to Two Million and No/100 Dollars ($2,000,000.00).