Commercial Promissory Note Sample Contracts

Subordinated Secured Commercial Promissory Note (April 3rd, 2018)

This Subordinated Secured Commercial Promissory Note ("Note") is issued pursuant to that certain Purchase and Sale Agreement between the Borrower and the Lender dated as of February 1, 2018, as it may be amended, modified and/or restated from time to time by mutual written agreement of Lender and Borrower (the "Agreement"), all of the terms and conditions of which are incorporated herein by reference. Capitalized terms used herein and not defined herein have the meanings ascribed to them in the Agreement.

Tpt Global Tech, Inc. – COMMERCIAL PROMISSORY NOTE (Convertible Into Shares Consisting of Common Stock) (December 15th, 2017)

FOR VALUE RECEIVED, the undersigned, TPT GLOBAL TECH, INC., a Florida corporation (hereinafter "Maker or Company"), promises to pay to _______________ (Holder) at such place as the Holder may designate in writing, the principal sum of ______________________________ ($_____________.00), together with interest at ___% per annum, payable on or before ____________ (principal and interest).

Tpt Global Tech, Inc. – UNSECURED COMMERCIAL PROMISSORY NOTE (Convertible to Common Stock) (December 15th, 2017)

FOR VALUE RECEIVED, the undersigned, TPT Global Tech, Inc., a Florida corporation (hereinafter "Maker"), promises to pay to ___________________ (Holder) at such place as the Holder may designate in writing, the principal sum of Two Hundred Fifty Thousand Dollars ($250,000.00), together with interest at 8% per annum thereon, payable quarterly in arrears (except as set forth below), due three (3) years from the date hereof.

Nuvel Holdings, Inc. – Commercial Promissory Note (November 14th, 2017)

FOR VALUE RECEIVED, the undersigned, OrangeHook, Inc., a corporation organized and existing under the laws of the State of Florida (hereinafter referred to as the "Maker"), and having offices at 319 Barry Avenue South, Ste. 300, Wayzata, MN 55391, hereby agrees and promises to pay to the order of Jeffrey A. Levy, or his successors and assigns (hereinafter referred to as the "Holder"), at [*], or such place as the Holder hereof may from time to time designate in writing, the principal sum of Two Hundred Fifty Thousand and no/100 ($250,000.00) Dollars, together with interest on the unpaid principal balance of this Note outstanding from time to time, at the rate of 15% per annum based on a 365-day year.

Nuvel Holdings, Inc. – Commercial Promissory Note (August 14th, 2017)

FOR VALUE RECEIVED, the undersigned, OrangeHook, Inc., a corporation organized and existing under the laws of the State of Minnesota (hereinafter referred to as the "Maker"), hereby agrees and promises to pay to the order of MEZ Capital, LLC, a limited liability company organized and existing under the laws of the State of Minnesota, its endorsees, successors, and assigns (hereinafter referred to as "Holder"), at 7241 Ohms Lane, Suite 275, Edina, MN 55439, or such place as Holder hereof may from time to time designate in writing, the principal sum of One Million and no/100 ($1,000,000.00) Dollars, together with interest thereon and as set forth below, in the amounts and/or at the rate hereinafter specified.

Nuvel Holdings, Inc. – Commercial Promissory Note (August 14th, 2017)

FOR VALUE RECEIVED, the undersigned, OrangeHook, Inc., a corporation organized and existing under the laws of the State of Minnesota (hereinafter referred to as the "Maker"), hereby agrees and promises to pay to the order of MEZ Capital, LLC, a limited liability company organized and existing under the laws of the State of Minnesota, its endorsees, successors, and assigns (hereinafter referred to as "Holder"), at 7241 Ohms Lane, Suite 275, Edina, MN 55439, or such place as Holder hereof may from time to time designate in writing, the principal sum of Two Hundred Fifty Thousand and no/100 ($250,000.00) Dollars, together with interest on the unpaid principal balance of this Note outstanding from time to time, in the amounts and/or at the rate hereinafter specified.

Nuvel Holdings, Inc. – Second Modification of Commercial Promissory Note and Related Documents (May 15th, 2017)

THIS SECOND MODIFICATION OF COMMERCIAL PROMISSORY NOTE AND RELATED DOCUMENTS is made this 24th day of February 2017, by and between OrangeHook, Inc., a corporation organized and existing under the laws of the State of Minnesota (hereinafter referred to as the "Maker"), and MEZ Capital, LLC, a limited liability company organized and existing under the laws of the State of Minnesota (hereinafter referred to as the "Holder") (the Maker and the Holder are hereinafter collectively referred to as the "Parties").

Nuvel Holdings, Inc. – Third Modification of Commercial Promissory Note and Related Documents (May 15th, 2017)

THIS THIRD MODIFICATION OF COMMERCIAL PROMISSORY NOTE AND RELATED DOCUMENTS is made effective the 15th day of April 2017, by and between OrangeHook, Inc., a corporation organized and existing under the laws of the State of Minnesota (hereinafter referred to as the "Maker"), and MEZ Capital, LLC, a limited liability company organized and existing under the laws of the State of Minnesota (hereinafter referred to as the "Holder") (the Maker and the Holder are hereinafter collectively referred to as the "Parties").

Nuvel Holdings, Inc. – Modification of Commercial Promissory Note and Related Documents (May 15th, 2017)

THIS MODIFICATION OF COMMERCIAL PROMISSORY NOTE AND RELATED DOCUMENTS is made effective this 15th day of April 2017, by and between OrangeHook, Inc., a corporation organized and existing under the laws of the State of Minnesota (hereinafter referred to as the "Maker"), and MEZ Capital, LLC, a limited liability company organized and existing under the laws of the State of Minnesota (hereinafter referred to as the "Holder") (the Maker and the Holder are hereinafter collectively referred to as the "Parties").

Nuvel Holdings, Inc. – Modification of Commercial Promissory Note and Related Documents (April 17th, 2017)

THIS MODIFICATION OF COMMERCIAL PROMISSORY NOTE AND RELATED DOCUMENTS is made this 23rd day of December 2016, by and between OrangeHook, Inc., a corporation organized and existing under the laws of the State of Minnesota (hereinafter referred to as the "Maker"), and MEZ Capital, LLC, a limited liability company organized and existing under the laws of the State of Minnesota (hereinafter referred to as the "Holder") (the Maker and the Holder are hereinafter collectively referred to as the "Parties").

Contract (October 20th, 2015)

NEITHER THIS COMMERCIAL PROMISSORY NOTE NOR THE SHARES OF COMMON STOCK UNDERLYING THIS COMMERCIAL PROMISSORY NOTE WERE ISSUED IN A REGISTERED TRANSACTION UNDER THE SECURITIES ACT OF 1933 (AS AMENDED, THE "SECURITIES ACT"). THE SECURITIES EVIDENCED HEREBY MAY NOT BE TRANSFERRED WITHOUT (1) AN OPINION OF COUNSEL SATISFACTORY TO THE ISSUER THAT SUCH TRANSFER MAY BE LAWFULLY MADE WITHOUT REGISTRATION UNDER THE SECURITIES ACT AND ALL APPLICABLE STATE SECURITIES LAW; OR (ii) SUCH REGISTRATION.

loanDepot, Inc. – Commercial Promissory Note (October 8th, 2015)

Upon the determination of the Actual Book Value Amount under Section 3.2 of that certain Asset Purchase Agreement dated November , 2014 (the APA), by and among the Lender, the Borrower and the ultimate shareholders of Lender, the principal amount hereof and all interest accrued thereon shall thereupon be adjusted to equal the Actual Book Value Amount plus all interest accruing from the date hereof, such adjustment to be effective as of the date hereof and without requiring any separate written instrument or allonge. Notwithstanding, Lender may at its election provide notice to Borrower of such adjustment in the principal amount hereof but any failure to provide such notice will not affect the validity of such adjustment.

Contract (September 18th, 2015)

NEITHER THIS COMMERCIAL PROMISSORY NOTE NOR THE SHARES OF COMMON STOCK UNDERLYING THIS COMMERCIAL PROMISSORY NOTE WERE ISSUED IN A REGISTERED TRANSACTION UNDER THE SECURITIES ACT OF 1933 (AS AMENDED, THE "SECURITIES ACT"). THE SECURITIES EVIDENCED HEREBY MAY NOT BE TRANSFERRED WITHOUT (1) AN OPINION OF COUNSEL SATISFACTORY TO THE ISSUER THAT SUCH TRANSFER MAY BE LAWFULLY MADE WITHOUT REGISTRATION UNDER THE SECURITIES ACT AND ALL APPLICABLE STATE SECURITIES LAW; OR (ii) SUCH REGISTRATION.

$ 8,000,000.00 Date: May 20, 2015 (May 27th, 2015)

FOR VALUE RECEIVED, on April 30, 2018 , the undersigned ("Debtor") promises to pay to the order of MUFG UNION BANK, N.A. ("Bank"), as indicated below, the principal sum of Eight Million and 00/100ths Dollars ($ 8,000,000.00 ), or so much thereof as is disbursed, together with interest on the balance of such principal from time to time outstanding, at the per annum rate or rates and at the times set forth below. Any letter of credit issued and outstanding in connection with this note shall result in reduction of the amount available to Debtor.

Amendment to Simple Interest Commercial Promissory Note (March 10th, 2015)

This Amendment to Simple Interest Commercial Promissory Note (the "Amendment") is made as of March 2, 2015 (the "Effective Date") and amends that certain Simple Interest Commercial Promissory Note issued by Cryoport Systems, Inc. (the "Company") to ____________ ("Payee"), in the original principal amount of $_____________ (the "Note").

Atomic Paintball Inc – First Letter of Addendum and First Amendment to March 29, 2010 6% Commercial Promissory Note by and Between Atomic Paintball, Inc. And J.H. Brech, LLC Dated: August 7, 2014 (November 13th, 2014)

Whereas, Atomic Paintball, Inc. ("ATOC") and J.H. Brech, LLC ("JHB") are party to a 6% Commercial Promissory Note, executed on March 29, 2010, (the "Note");

South American Gold Corp. – SOUTH AMERICAN GOLD CORP. A Nevada Corporation UNSECURED COMMERCIAL PROMISSORY NOTE (November 25th, 2013)

FOR VALUE RECEIVED, the undersigned, SOUTH AMERICAN GOLD CORP., a Nevada corporation (hereinafter "Maker"), promises to pay to ___________________________ (Holder) at such place as the Holder may designate in writing, the principal sum of ___________________ dollars and no/100 ($_______.00), together with interest at 8% per annum thereon, payable quarterly in arrears or at company's option during term of the note, due TWO (2) years from the date hereof. The first quarterly interest payment will be made on March 31, 2014.

South American Gold Corp. – SOUTH AMERICAN GOLD CORP. A Nevada Corporation UNSECURED COMMERCIAL PROMISSORY NOTE (November 25th, 2013)

FOR VALUE RECEIVED, the undersigned, SOUTH AMERICAN GOLD CORP., a Nevada corporation (hereinafter "Maker"), promises to pay to ___________________________ (Holder) at such place as the Holder may designate in writing, the principal sum of ___________________ dollars and no/100 ($_______.00), together with interest at 8% per annum thereon, payable quarterly in arrears or at company's option during term of the note, due TWO (2) years from the date hereof. The first quarterly interest payment will be made on March 31, 2014.

MJ Holdings, Inc. – Commercial Promissory Note (November 14th, 2013)

FOR VALUE RECEIVED, Securitas Edgar Filings, Inc. (the Maker), at 4115 Taylorsville Rd. Louisville, KY 40220, promises to pay to the order of Kwajo Sarfoh (the Holder), at such place as the Holder may designate in writing, in lawful money of the United States of America, the principal sum of 40,000 00/100 Dollars ($40,000.00). All capitalized terms used in this Note and not otherwise defined herein have the meanings set forth in that certain Credit Agreement dated as of even date herewith (the Agreement).

MJ Holdings, Inc. – Commercial Promissory Note (November 14th, 2013)

FOR VALUE RECEIVED, Securitas Edgar Filings, Inc. (the Maker), at 4115 Taylorsville Rd. Louisville, KY 40220, promises to pay to the order of Jeremy Pearman (the Holder), at such place as the Holder may designate in writing, in lawful money of the United States of America, the principal sum of 45,000 00/100 Dollars ($45,000.00). All capitalized terms used in this Note and not otherwise defined herein have the meanings set forth in that certain Credit Agreement dated as of even date herewith (the Agreement).

Renewal Commercial Promissory Note (July 17th, 2013)

This Note renews and supersedes in its entirety that certain Commercial Promissory Note dated effective July 11, 2008, in the original principal amount of $2,580,000.00 having a current principal balance of $1,302,000.00.

Independent Bank Group Inc – Commercial Promissory Note (February 27th, 2013)

FOR VALUE RECEIVED, Borrower, jointly and severally if more than one, promises to pay to the order of Lender (which term shall include all subsequent holders of this Note) at its offices set forth above or at such other address as Lender may from time to time designate, in lawful money of the United States of America, the principal sum of Twelve Million One Hundred Eighty-Seven Thousand Five Hundred and 00/100 Dollars ($12,187,500.00), or so much thereof as may be advanced and outstanding from time to time, with interest at the rate provided below on the principal balance from time to time remaining unpaid, in the amounts, at the times and upon the terms provided in this Note. This Note is performable in Bryan County, Oklahoma.

Computer Software Innovations, Inc. – Commercial Promissory Note (March 12th, 2012)

FOR VALUE RECEIVED, COMPUTER SOFTWARE INNOVATIONS, INC., a Delaware corporation (Borrower), promises to pay to FIFTH THIRD BANK (Bank), or order, the principal sum of Seven Hundred Thousand and No/100ths Dollars ($700,000.00), together with interest, fees, premiums, charges and costs and expenses as set forth in this Note. Payments by Borrower under this Note will be made as provided in this Note or in the Credit Agreement. Payments will be made at the office of Bank, or such other place as Bank may designate in writing from time to time.

Computer Software Innovations, Inc. – Commercial Promissory Note (March 12th, 2012)

This Note evidences a Revolving Loan that Bank has made available to Borrower pursuant to the Credit Agreement. The Revolving Loan is a line of credit. Under the Revolving Loan, Borrower may make requests to Bank for Advances under this Note and Bank will, on the basis of those requests, make Loans under this Note and the Credit Agreement to or for the benefit of Borrower up to 2:00 p.m. on the day before the Revolving Credit Termination Date, or if the Revolving Credit Termination Date is not on a Business Day, up to 2:00 p.m. on the day before the Business Day immediately preceding the Revolving Credit Termination Date. Amounts loaned under this Note, once repaid, may be re-loaned in accordance with the applicable provisions of this Note and the Credit Agreement. At no time may the unpaid principal balance outstanding under this Note and the face amount of all outstanding Letters of Credit (whether or not drawn) exceed the lesser of (a) the Revolving Credit Commitment and (b) the Bor

Commercial Promissory Note (Variable Rate - NPF) (November 7th, 2011)

Documentary stamp tax in the amount of $12,600.00 and intangibles tax in the amount of $7,200.00 have been paid in connection with the Mortgage securing this Note, recorded in Charlotte County, Florida.

CNL Growth Properties, Inc. – RBC Bank Commercial Promissory Note (Creditline Variable Rate) $11,150,000.00 Orlando, Florida October 17, 2011 Original Credit Facility (October 20th, 2011)

This Note evidences a Credit Facility Bank has made available to Borrower. The Credit Facility is a line of credit. Under the Credit Facility, Borrower may make requests to Bank for Advances under this Note and Bank will, on the basis of those requests, make Advances under this Note to or for the benefit of Borrower up to 2:00 p.m. on the Facility Termination Date, or if the Facility Termination Date is not on a Business Day, up to 2:00 p.m. on the Business Day immediately preceding the Facility Termination Date. Amounts Advanced under this Note, once repaid, may not be re-Advanced, unless Bank, in its discretion, agrees otherwise in writing prior to any re-Advance. Without Banks prior, written, discretionary consent, at no time may the unpaid principal balance outstanding under this Note exceed the face amount of this Note. All Advances under this Note will be subject to and made on the terms and conditions of this Note and the other Loan Documents, including Borrowers satisfaction of

Deer Valley Corp – Renewal Commercial Promissory Note (July 12th, 2011)

For value received, the undersigned, DEER VALLEY HOMEBUILDERS, INC., an Alabama corporation authorized to do business in the State of Florida (the Borrower) promises to pay to the order of FIFTH THIRD BANK, an Ohio banking corporation (the Lender), the principal sum of ONE MILLION TWO HUNDRED FIFTY-SIX THOUSAND DOLLARS ($1,256,000.00), together with interest on the principal balance remaining unpaid from time to time at the rates set forth below. This Note renews and supersedes in its entirety that certain Commercial Promissory Note dated effective May 26, 2006, in the original principal amount of $2,000,000.00, having a current principal balance of $1,256,000.00.

API Nanotronics – Master Note (April 26th, 2011)

FOR VALUE RECEIVED, the undersigned (whether one or more, Borrower) promises to pay to RBC BANK (USA) (Bank), or order, the sum of Twenty Million Dollars ($20,000,000.00), or so much thereof as shall have been disbursed from time to time and remains unpaid, together with interest at the rate and payable in the manner hereinafter stated. Principal and interest shall be payable at any banking office of Bank in the city or town indicated above, or such other place as the holder of this Note may designate.

Commercial Promissory Note (February 10th, 2011)

FOR VALUE RECEIVED, on February 2, 2015 the undersigned (Debtor) promises to pay to the order of UNION BANK, N.A. (Bank), as indicated below, the principal sum of Three Hundred Fifty Thousand and 00/100ths Dollars ($350,000.00), or so much thereof as is disbursed, together with interest on the balance of such principal sum from time to time outstanding, at a per annum rate of one-half percent (00.5%) in excess of the Reference Rate, such per annum rate to change as and when the Reference Rate shall change. As used herein, the term Reference Rate shall mean the rate announced by Bank from time to time at its corporate headquarters as its Reference Rate. The Reference Rate is an index rate determined by Bank from time to time as a means of pricing certain extensions of credit and is neither directly tied to any external rate of interest or index nor necessarily the lowest rate of interest charged by Bank at any given time.

Commercial Promissory Note (February 10th, 2011)

FOR VALUE RECEIVED, on August 1, 2014 the undersigned (Debtor) promises to pay to the order of UNION BANK, N.A. (Bank), as indicated below, the principal sum of One Million Two Hundred Fifty Thousand and 00/100ths Dollars ($1,250,000.00), or so much thereof as is disbursed, together with interest on the balance of such principal sum from time to time outstanding, at a per annum rate of one-half percent (00.5%) in excess of the Reference Rate, such per annum rate to change as and when the Reference Rate shall change. As used herein, the term Reference Rate shall mean the rate announced by Bank from time to time at its corporate headquarters as its Reference Rate. The Reference Rate is an index rate determined by Bank from time to time as a means of pricing certain extensions of credit and is neither directly tied to any external rate of interest or index nor necessarily the lowest rate of interest charged by Bank at any given time.

Commercial Promissory Note (February 10th, 2011)

FOR VALUE RECEIVED, on December 17, 2012 the undersigned (Debtor) promises to pay to the order of UNION BANK, N.A. (Bank), as indicated below, the principal sum of One Million Five Hundred Thousand and 00/100ths Dollars ($1,500,000.00), or so much thereof as is disbursed, together with interest on the balance of such principal sum from time to time outstanding, at a per annum rate of one-half percent (00.5%) in excess of the Reference Rate, such per annum rate to change as and when the Reference Rate shall change. As used herein, the term Reference Rate shall mean the rate announced by Bank from time to time at its corporate headquarters as its Reference Rate. The Reference Rate is an index rate determined by Bank from time to time as a means of pricing certain extensions of credit and is neither directly tied to any external rate of interest or index nor necessarily the lowest rate of interest charged by Bank at any given time.

Computer Software Innovations, Inc. – Amended and Restated Commercial Promissory Note (November 12th, 2010)

WHEREAS, COMPUTER SOFTWARE INNOVATIONS, INC. (Borrower) with a mailing address of 900 East Main Street, Suite T, Easley, South Carolina 29640, executed that certain Commercial Promissory Note from Borrower to RBC Centura Bank (now known as RBC Bank (USA)) (Bank), dated January 2, 2007, as modified by that certain Modification Agreement dated November 14, 2008 (the Original Note) pursuant to that certain Second Amended and Restated Loan and Security Agreement by and between Borrower and Bank dated September 14, 2007; as amended by a Modification to Revolving Facility dated June 30, 2008; as further amended by a Modification Agreement dated September 11, 2008; as further amended by a Modification Agreement dated December 21, 2009; and as further amended by a Modification Agreement dated June 25, 2010 (the Loan and Security Agreement).

Video Display Corporation – Second Amendment to $17,000,000 Commercial Promissory Note: C & I (October 15th, 2010)

This Second Amendment to $17,000,000 Commercial Promissory Note: C & I (this Amendment) is made and entered into as of September ___, 2010 by and between VIDEO DISPLAY CORPORATION, a Georgia corporation (Parent), LEXEL IMAGING SYSTEMS, INC. (Lexel), FOX INTERNATIONAL, LTD., INC. (Fox), Z-AXIS, INC. (Z-Axis), TELTRON TECHNOLOGIES, INC. (Teltron) and AYDIN DISPLAYS, INC. (Aydin and together with Lexel, Fox, Z-Axis and Teltron, collectively, the Subsidiaries; and the Subsidiaries, together with Parent, collectively, the Borrower), and RBC BANK (USA) (formerly known as RBC Centura Bank) (the Bank);

Computer Software Innovations, Inc. – Second Amended and Restated Commercial Promissory Note (July 1st, 2010)

FOR VALUE RECEIVED, COMPUTER SOFTWARE INNOVATIONS, INC., a Delaware corporation (Borrower), promises to pay to RBC BANK (USA) (Bank), or order, the maximum sum of Eight Million and No/100 Dollars ($8,000,000.00), or so much thereof as shall have been disbursed from time to time and remains unpaid, together with interest at the rate and payable in the manner hereinafter stated. Principal and interest shall be payable at any banking office of Bank in the city or town indicated above, or such other place as the holder of this Note may designate. This Note evidences a revolving line of credit and during the term of this Note, so long as Borrower shall not be in default hereunder, Borrower shall have the right to borrow, make payments upon, and re-borrow monies hereunder.

MJ Holdings, Inc. – Commercial Promissory Note (June 28th, 2010)

FOR VALUE RECEIVED, Securitas Edgar Filings, Inc. (the Maker), at 35 Meadow Street, Suite 308, Brooklyn, NY 11206, promises to pay to the order of Kwajo Sarfoh (the Holder), at such place as the Holder may designate in writing, in lawful money of the United States of America, the principal sum of 20,000.00/100 Dollars ($20,000.00). All capitalized terms used in this Note and not otherwise defined herein have the meanings set forth in that certain Credit Agreement dated as of even date herewith (the Agreement).