Cognovit Promissory Note Sample Contracts

Healthwarehouse.Com – Cognovit Promissory Note (April 10th, 2017)
Guitammer Co – Second Restated Cognovit Promissory Note (January 31st, 2014)

This note is a restatement and continuation of that certain Restated Cognovit Promissory Note dated December 21, 2011, in the original principal amount of $150,000 (the "2011 Note") from both The Guitammer Company, an Ohio corporation ("Guitammer-Ohio"), and The Guitammer Company, a Nevada corporation and parent company to Guitammer-Ohio (collectively, "Makers"), to Forest Capital, LLC, an Ohio limited liability company ("Payee") whose address is 1970 Jewett Road, Powell, Ohio 43065. For value received, Makers hereby jointly and severally promise to pay the order of Payee the revised principal balance of $162,106.52, which is the sum of (a) $150,000, the original unpaid principal amount of the 2011 Note, plus (b) $12,106.52, which is the unpaid accrued interest on that original unpaid principal balance computed from January 1, 2013 through January 3, 2014, and which is being converted into unpaid principal as of January 3, 2014; with interest on that unpaid revised principal balance co

Guitammer Co – Cognovit Promissory Note (January 31st, 2014)

This note may be prepaid in full or in part at any time. Makers shall make a mandatory prepayment of all amounts due under this note in full within two business days of the receipt after January 27, 2014 and prior to April 30, 2014 by either or both of Makers of additional new equity financing that aggregates to at least $500,000 to Makers. This mandatory prepayment obligation shall expire on April 30, 2014 if that $500,000 aggregate amount has not been received by Makers by that date.

Guitammer Co – Second Restated Cognovit Promissory Note (January 31st, 2014)

This note is a restatement and continuation of that certain Restated Cognovit Promissory Note dated December 21, 2011, in the original principal amount of $100,000 (the "2011 Note") from both The Guitammer Company, an Ohio corporation ("Guitammer-Ohio"), and The Guitammer Company, a Nevada corporation and parent company to Guitammer-Ohio (collectively, "Makers"), to the Revocable Trust created by Julie E. Jacobs under agreement dated November 25, 1999 ("Payee"), whose address is c/o 5050 Thornhill Lane, Dublin Ohio 43017. For value received, Makers hereby jointly and severally promise to pay the order of Payee the revised principal balance of $108,071.01, which is the sum of (a) $100,000, the original unpaid principal amount of the 2011 Note, plus (b) $8,071.01, which is the unpaid accrued interest on that original unpaid principal balance computed from January 1, 2013 through January 3, 2014, and which is being converted into unpaid principal as of January 3, 2014; with interest on th

Ourpets – Cognovit Promissory Note (June 25th, 2013)

This Note does not of itself constitute a commitment by the Lender to make any disbursement of the Loan (as defined in the Loan Agreement) to the Borrower. The conditions for making such a disbursement are set forth in the Loan Agreement. The disbursements made by the Lender to the Borrower shall not exceed the face amount of this Note and the total amount of such disbursement is limited by and subject to the conditions for making disbursement of the Loan as set forth in the Loan Agreement.

Intellinetics, Inc. – Cognovit Promissory Note (February 13th, 2012)

For value received, Intellinetics, Inc., an Ohio corporation (the Company), promises to pay to the order of the Director of Development of the State of Ohio (the Director), at Strategic Business Investment Division, 77 South High Street, 28th Floor, P.O. Box 1001, Columbus, Ohio 43216-1001, or at such other address as may be designated in writing by the Director, the principal sum of One Million Twelve Thousand Five Hundred Dollars ($1,012,500), or such amount thereof as shall be disbursed to the Company, with interest on the amount of principal from time to time outstanding from the first Escrow Funding Date as specified under and defined in the Loan Agreement between the Director and the Company dated as of July 17, 2009 (the Loan Agreement), at the rate of six percent (6%) per annum until paid, subject to adjustment as set forth in the Loan Agreement or herein. Interest on this Note shall be paid in monthly installments, which shall be due and payable on the first day of each calend

Intellinetics, Inc. – Cognovit Promissory Note (February 13th, 2012)

This Cognovit Promissory Note supersedes and replaces in its entirety the cognovit promissory note dated November 23, 2010 made by the Maker in favor of the Payee in the original principal amount of $50,000.00, and reflects additional advances made to the Maker by the Payee on the date set forth above.

Intellinetics, Inc. – Cognovit Promissory Note (February 13th, 2012)

For value received, Intellinetics, Inc., an Ohio corporation (the Company), promises to pay to the order of the Director of Development of the State of Ohio (the Director), at Strategic Business Investment Division, 77 South High Street, 28th Floor, P.O. Box 1001, Columbus, Ohio 43216-1001, or at such other address as may be designated in writing by the Director, the principal sum of Seven Hundred and Fifty Thousand Dollars ($750,000), or such amount thereof as shall be disbursed to the Company, with interest on the amount of principal from time to time outstanding from the first Escrow Funding Date as specified under and defined in the Loan Agreement between the Director and the Company dated as of June 3, 2011 (the Loan Agreement), at the rate of one percent (1%) per annum during the twelve months next succeeding the first Escrow Funding Date, and thereafter at the rate of seven percent (7%) per annum until paid, subject to adjustment as set forth in the Loan Agreement or herein. Int

SaveDaily – Convertible Cognovit Promissory Note (November 29th, 2011)
Ourpets – Cognovit Promissory Note (October 6th, 2011)

For value received, OURPET'S COMPANY (the "Borrower"), promises to pay to the order of Growth Capital Corp. (the "Lender"), at IMG Center, 1360 East Ninth Street, Ste. 350, Cleveland, OH 44114, or at such other address as may be designated in writing by the Lender, the principal sum of Two Hundred Twenty Five Thousand Dollars, together with interest on the unpaid principal balance from time to time outstanding, at the rate of 3 percent (3.0%) per annum until paid. The principal of and interest on this Note shall be paid in sixty (60) consecutive monthly installments in accordance with the schedule attached hereto and made a part hereof, which shall be due and payable on the first day of each calendar month commencing November 1st , 2011 (the "First Installment Date") and ending October 1st , 2016 the "Last Installment Date"); provided, however, that the amount of the installment payable on the First Installment Date shall include interest accrued hereon from the Closing Date to the Fir

Guitammer Co – Cognovit Promissory Note (July 8th, 2011)

FOR VALUE RECEIVED, The Guitammer Company, an Ohio corporation (the "Company"), promises to pay to the order of The Director of Development of the State of Ohio (the "Director") at 77 South High Street, P.O. Box 1001, Columbus, Ohio 43216-1001 or at such other address as may be designated in writing by the holder, the principal sum of One Million Eighty-Three Thousand Nine Hundred Fifty-One Dollars ($1,083,951.00), or such lesser amount as is the Loan Amount as specified under and defined in the Loan Agreement (the "Loan Agreement") of even date herewith between the Director and the Company, with interest on the amount of principal from time to time outstanding from the applicable Escrow Funding Date(s), as specified under and defined in the Loan Agreement, at the rate of eight percent (8%) per annum until paid (subject to adjustment as set forth in the Loan Agreement), plus a service fee equal to one-quarter of one percent (0.25%) per annum on the amount of principal from time to time

Guitammer Co – Cognovit Promissory Note (May 27th, 2011)

FOR VALUE RECEIVED, The Guitammer Company, an Ohio corporation (the "Company"), promises to pay to the order of The Director of Development of the State of Ohio (the "Director") at 77 South High Street, P.O. Box 1001, Columbus, Ohio 43216-1001 or at such other address as may be designated in writing by the holder, the principal sum of One Million Eighty-Three Thousand Nine Hundred Fifty-One Dollars ($1,083,951.00), or such lesser amount as is the Loan Amount as specified under and defined in the Loan Agreement (the "Loan Agreement") of even date herewith between the Director and the Company, with interest on the amount of principal from time to time outstanding from the applicable Escrow Funding Date(s), as specified under and defined in the Loan Agreement, at the rate of eight percent (8%) per annum until paid (subject to adjustment as set forth in the Loan Agreement), plus a service fee equal to one-quarter of one percent (0.25%) per annum on the amount of principal from time to time

John D Oil Gas – Cognovit Promissory Note of John D. Oil and Gas Company, Inc. (May 27th, 2009)

For value received, the undersigned, promises to pay to the order of GREAT PLAINS EXPLORATION, LLC ("Maker") the principal sum of Six Hundred Thousand Dollars ($600,000.00) with interest at the rate of Eight Percent (8%) per year. Payment of Principal and accrued interest is due and payable upon DEMAND. This note replaces a $600,000 cognovit promissory note issued by Maker to John D. Oil and Gas Company on April 7, 2009, which note is hereby cancelled.

John D Oil Gas – Cognovit Promissory Note of John D. Oil and Gas Company (April 9th, 2009)

For value received, the undersigned, promises to pay to the order of Great Plains Exploration, LLC ("Maker") the principal sum of six hundred thousand dollars ($600,000.00) with interest payable at the rate of 8.0% per year. Principal is payable in the amount of one hundred thousand dollars ($100,000.00) per month plus accrued but unpaid interest on the twenty-fifth date of each month beginning on May 25, 2009. This Note replaces a $600,000 cognovit promissory note issued by Maker to John D. Oil and Gas Company on February 13, 2009, which note is hereby cancelled.

Cognovit Promissory Note Demand Line of Credit (April 1st, 2009)

Upon demand, PINNACLE DATA SYSTEMS, INC., an Ohio corporation with offices at 6600 Port Road, Groveport, Ohio 43125 (Borrower) shall pay to the order of KEYBANK NATIONAL ASSOCIATION, a national banking association, with offices at 88 East Broad Street, Columbus, Ohio 43215, and its successors and assigns (Lender) $5,500,000, or so much thereof as may have been advanced under this Note plus interest on the outstanding balance from this date until paid.

Cognovit Promissory Note Demand Line of Credit (March 20th, 2009)

Upon demand, PINNACLE DATA SYSTEMS, INC., an Ohio corporation with offices at 6600 Port Road, Groveport, Ohio 43125 (Borrower) shall pay to the order of KEYBANK NATIONAL ASSOCIATION, a national banking association, with offices at 88 East Broad Street, Columbus, Ohio 43215, and its successors and assigns (Lender) $8,000,000, or so much thereof as may have been advanced under this Note plus interest on the outstanding balance from this date until paid.

John D Oil Gas – Cognovit Promissory Note of John D. Oil and Gas Company (March 6th, 2009)

For value received, the undersigned, promises to pay to the order of Great Plains Exploration, LLC the principal sum of six hundred thousand dollars ($600,000.00) with interest payable at the rate of 8.0% per month. Principal is payable in the amount of one hundred thousand dollars ($100,000.00) per month plus accrued but unpaid interest on the twenty-eighth date of each month beginning on March 28, 2009.

Eagle Ford Oil & Gas Corp – Cognovit Promissory Note (March 5th, 2009)

FOR VALUE RECEIVED, ECCO Energy Corp. ("Maker"), a Nevada corporation having its principal place of business at 3315 Marquart St, Ste. 206, Houston, TX 77027, promises to pay to the order of M-J Oil Company, Inc. ("Payee"), an Ohio corporation, having its principal place of business at 3382 Baird Ave., Paris OH 44669, the principal sum of One Million Dollars U.S. ($1,000,000.00) (the "Indebtedness"), together with interest as provided in Section 3 of this Note.

Cognovit Promissory Note Demand Line of Credit (October 2nd, 2008)

Upon demand, PINNACLE DATA SYSTEMS, INC., an Ohio corporation with offices at 6600 Port Road, Groveport, Ohio 43125 (Borrower) shall pay to the order of KEYBANK NATIONAL ASSOCIATION, a national banking association, with offices at 88 East Broad Street, Columbus, Ohio 43215, and its successors and assigns (Lender) $8,000,000, or so much thereof as may have been advanced under this Note plus interest on the outstanding balance from this date until paid.

John D Oil Gas – Cognovit Promissory Note of John D. Oil & Gas Company, Inc. (July 9th, 2008)

For value received, the undersigned, promises to pay to the order of GREAT PLAINS EXPLORATION, LLC the principal sum of Twenty Five Thousand Dollars ($25,000.00) with interest at the rate of 8% per annum. Payment of Principal and accrued interest is due and payable upon DEMAND.

John D Oil Gas – Cognovit Promissory Note of John D. Oil & Gas Company, Inc. (July 9th, 2008)

For value received, the undersigned, promises to pay to the order of GREAT PLAINS EXPLORATION, LLC the principal sum of Four Hundred Seventy Five Thousand Dollars ($475,000.00) with interest at the rate of 8% per annum. Payment of Principal and accrued interest is due and payable upon DEMAND.

Cognovit Promissory Note Revolving Credit LIBOR Rate (April 10th, 2008)

PINNACLE DATA SYSTEMS, INC., an Ohio Corporation with offices at 6600 Port Road, Groveport, Ohio 43125 (Borrower) shall pay to the order of KEYBANK NATIONAL ASSOCIATION, a national banking association, with offices at 88 East Broad Street, Columbus, Ohio 43215, and its successors and assigns (Lender), $11,000,000, or so much thereof as may have been advanced under this Note, plus interest on the outstanding balance from this date until paid.

John D Oil Gas – Cognovit Promissory Note of John D. Oil and Gas Company, Inc. (December 6th, 2007)

For value received, the undersigned, promises to pay to the order of GREAT PLAINS EXPLORATION, LLC the principal sum of One Hundred Twenty Thousand Dollars ($120,000.00) with interest at the rate of LIBOR plus 1.75% per annum. Payment of the principal and accrued interest is due and payable upon DEMAND.

John D Oil Gas – Cognovit Promissory Note of John D. Oil & Gas Company, Inc. (November 21st, 2007)

For value received, the undersigned, promises to pay to the order of GREAT PLAINS EXPLORATION, LLC the principal sum of Eight Hundred Thousand Dollars ($_800,000.00_) with interest at the rate of libor plus 1.75% per annum. Payment of Principal and accrued interest is due and payable upon DEMAND.

John D Oil Gas – Cognovit Promissory Note of John D. Oil & Gas Company, Inc. (September 4th, 2007)

For value received, the undersigned, promises to pay to the order of GREAT PLAINS EXPLORATION, LLC the principal sum of Five Hundred Thousand Dollars ($500,000.00) with interest at the rate of libor plus 1.75% per annum. Payment of Principal and accrued interest is due and payable upon DEMAND.

John D Oil Gas – Cognovit Promissory Note of John D. Oil & Gas Company, Inc. (August 9th, 2007)

For value received, the undersigned, promises to pay to the order of GREAT PLAINS EXPLORATION, LLC the principal sum of Eight Hundred Eighty Thousand Dollars ($880,000) with interest at the rate of LIBOR plus 1.75% per annum. Payment of Principal and accrued interest is due and payable upon DEMAND.

Cognovit Promissory Note (April 2nd, 2007)

FOR VALUE RECEIVED, the undersigned Assured Health Care, Inc. and AdCare Health Systems, Inc. (herein, collectively, Maker) hereby jointly and severally promise to pay to Homer R. McKnight (Holder) the principal amount of $835,000, together with interest on the unpaid principal at a rate equal to the prime rate then in effect. For purposes of this Note at the prime rate will be the prime rate as announced by Huntington National Bank in Columbus, Ohio from time to time, or its successor, if applicable. The interest rate will be adjusted monthly on the first day of each month beginning June 1, 2006. The terms, conditions and provisions of this Note are further set forth below.

Healthessentials Solutions Inc – Cognovit Promissory Note (September 3rd, 2004)

FOR VALUE RECEIVED, the undersigned, HealthEssentials Solutions, Inc. a Delaware Corporation (HealthEssentials), promises to pay Tony Altieri (Altieri) at his address of 2487 Wellesley Drive, Columbus, Ohio 43221 or such other address as he may designate, the sum of Three Hundred Thousand Dollars ($300,000.00) dollars (Principal), bearing interest at the rate of five (5%) percent per annum, upon vesting, pursuant to the vesting schedule detailed below, with the first installment being paid not before June 30, 2004, with all accumulated interest paid on or before the final installment payment, all in lawful money of the United States of America.

COGNOVIT PROMISSORY NOTE (1041-1043 Cannons Court, Woodbridge, Prince William County, Virginia) (February 5th, 2003)

FOR VALUE RECEIVED, REMODELERS CREDIT CORPORATION, a Delaware corporation (Borrower), promises to pay to the order of GENERAL ELECTRIC CAPITAL BUSINESS ASSET FUNDING CORPORATION (Payee; Payee and any subsequent holder of this Note being referred to herein as Holder) at Payees office at 10900 NE 4th Street, Suite 500, Bellevue, Washington 98004, attention: Real Estate Department, or at such other address as Holder may from time to time designate in writing, the principal sum of Two Million One Hundred Twenty-Five Thousand and no hundredths Dollars ($2,125,000.00) together with interest from the date the proceeds of the loan (the Loan) evidenced by this Promissory Note (this Note) are initially disbursed (including, without limitation, disbursement into an escrow for the benefit of Borrower) until maturity on the principal balance from time to time remaining unpaid hereon at the rate of seven and twenty-five hundredths percent (7.25%) per annum (computed on the basis of a 360-day year co

Cognovit Promissory Note (March 20th, 2002)

This Note is made and delivered by Maker in accordance with Section 2.4 of that certain Plan and Agreement of Merger and Reorganization dated as of even date herewith by and between Maker, Holder, Stony's Trucking Co. and others (the "Agreement"), incorporated herein by reference, and evidences the obligation of Maker to pay to the Holder the remaining balance of the cash purchase price set forth in said Agreement in consideration of Stony's Trucking Co. entering into the Merger (as defined therein) and Holder's consent to such Merger, among other consideration.

Crown Northcorp Inc – Variable Rate Cognovit Promissory Note (January 24th, 1997)
Crown Northcorp Inc – Variable Rate Cognovit Promissory Note (January 24th, 1997)
Crown Northcorp Inc – Variable Rate Cognovit Promissory Note (January 24th, 1997)