Promissory Note Sample Contracts

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If you’re lending or borrowing a significant amount of money, be sure to formalize the agreement by using a Promissory Note. A Promissory Note outlines information of the loan, such as the name of lender and the borrower, the amount of the loan, payment options for the loan and more.

A Promissory Note is also referred to as a Promissory Note Form, Note, or Note Payable Form. A Promissory Note outlines the payment plan, and structuring options include a “Lump Sum” payment, “Due on Demand” payment or payments with interest. These various plans can be used singularly or in combination for your unique loan situation.

Genprex, Inc. – Promissory Note (December 14th, 2017)
Uranium Resources, Inc. – Promissory Note (December 14th, 2017)

FOR VALUE RECEIVED, the undersigned, ALABAMA GRAPHITE CORP., a corporation organized and existing under the laws of British Columbia (AGC) and ALABAMA GRAPHITE COMPANY, INC., an Alabama corporation (AGCI and AGCI, together with AGC, collectively the Maker), hereby promises to pay to the order of WESTWATER RESOURCES, INC., a Delaware corporation (WRI) or other holder hereof (with WRI and any other holder hereof sometimes referred to herein as Holder), at the place and times provided in the Loan Agreement, dated as of December 13, 2017, by and among Maker, as the borrower, and WRI, as the lender (together with all amendments, restatements, amendments and restatements, modifications, revisions, increases, supplements, extensions, continuations, replacements or refinancings from time to time in accordance with the terms thereof, the Loan Agreement) the principal sum of TWO MILLION DOLLARS (US$2,000,000.00) or, if less, the aggregate unpaid principal amount of all Loans under the Loan Agree

Hancock Jaffe Laboratories, Inc. – Promissory Note (December 14th, 2017)

For value received, the undersigned Hancock Jaffe Laboratories, Inc. (the "Borrower"), a Delaware Corporation at 70 Doppler, Irvine, California 92618, promises to pay to the order of Leman Cardiovascular SA, (the "Lender"), a Swiss Societe Anonyme the sum of $1,070,000 (one million and seventy thousand dollars) with interest from May 10, 2013, on the unpaid principal at the rate of 6.00% (six percent) per annum.

Torotel – PROMISSORY NOTE Borrower: TOROTEL PRODUCTS, INC. 520 N Rogers Road Olathe, KS 660621276 Lender: Commerce Bank, N.A. Lenexa Banking Center 8700 Monrovia, Ste 206 Lenexa, KS 66215 Principal Amount: $850,000.00 (December 13th, 2017)

PROMISE TO PAY. TOROTEL PRODUCTS, INC. ("Borrower") promises to pay to Commerce Bank, N.A. ("Lender"), or order, in lawful money of the United States of America, the principal amount of Eight Hundred Fifty Thousand & 00/100 Dollars ($850,000.00) or so much as may be outstanding, together with interest on the unpaid outstanding principal balance of each advance. Interest shall be calculated from the date of each advance until repayment of each advance.

Torotel – PROMISSORY NOTE Borrower: TOROTEL PRODUCTS, INC. 520 N Rogers Road Olathe, KS 660621276 Lender: Commerce Bank, N.A. Lenexa Banking Center 8700 Monrovia, Ste 206 Lenexa, KS 66215 Principal Amount: $400,000.00 (December 13th, 2017)

PROMISE TO PAY. TOROTEL PRODUCTS, INC. ("Borrower") promises to pay to Commerce Bank, N.A. ("Lender"), or order, in lawful money of the United States of America, the principal amount of Four Hundred Thousand & 00/100 Dollars ($400,000.00) or so much as may be outstanding, together with interest on the unpaid outstanding principal balance of each advance. Interest shall be calculated from the date of each advance until repayment of each advance.

PAGARE E.U.A. $307,035.50 Dolares PROMISSORY NOTE (December 12th, 2017)

El suscrito, en nombre y representacion de SIGMATRON INTERNATIONAL, INC. (la "SUSCRIPTORA"), por este PAGARE promete incondicionalmente pagar a la orden de ENGENCAP FIN, S.A. DE C.V., SOFOM, E.N.R. (el "TENEDOR"), la suma principal de EUA$307,035.50 Dolares (Trescientos Siete Mil Treinta y Cinco 50/100 Dolares, moneda de curso legal de los Estados Unidos de America) ("Dolares"), de conformidad con los terminos que se establecen a continuacion.

Level Brands, Inc. – PROMISSORY NOTE (Revolving Note) (December 12th, 2017)

FOR VALUE RECEIVED, the undersigned, Kure Corp., a Florida Corporation (the "Maker"), hereby promise(s) to pay to the order of Level Brands, Inc., a North Carolina corporation (together with its successors and assigns, the "Holder"), the principal sum of the lesser of (i) Five Hundred Thousand Dollars ($500,000) or (ii) the aggregate unpaid principal amount of all advances made by the Holder under this Promissory Note and the Revolving Line of Credit (as defined below), together with interest on all principal amounts available for advancement hereunder at eight percent (8%) per annum on the earliest to occur of: (a) first anniversary of the date hereof, or (b) a Qualified Private Offering (as defined below) ("Maturity"). Interest shall be paid in arrears at Maturity and computed on the basis of a 365-day year.

Bakhu Holdings, Corp. – Promissory Note (December 7th, 2017)

This Revolving Note (this "Note") is between Bakhu Holdings, Corp ("Borrower") a Nevada Corporation and Somerset Private Fund, Ltd. ("Lender"), a Colorado Corporation with offices and places of business in Colorado. This Note shall be governed under the laws of the State of Colorado and any disputes resulting from this Note will be settled in Colorado or Nevada courts, and both parties consent to the jurisdiction of Denver District, county, state and Federal courts as well as Nevada, Clark County, and Federal courts.

Bakhu Holdings, Corp. – Promissory Note (December 7th, 2017)
Aim Exploration Inc. – Promissory Note (December 6th, 2017)

FOR VALUE RECEIVED, AIM EXPLORATION, INC., a Nevada corporation (hereinafter called the "Borrower"), hereby promises to pay to the order of L2 CAPITAL, LLC, a Kansas limited liability company, or registered assigns (the "Holder") the principal sum of

Promissory Note (December 6th, 2017)

This Promissory Note (this "Note") is the promissory note described in that certain Loan Agreement of even date herewith between the Lender and the Borrower (as amended, restated, or otherwise superseded from time to time, the "Loan Agreement"). This is a note under which advances, repayments and re-advances may be made from time to time. Capitalized terms used but not otherwise defined in this Note shall have the meanings given them in the Loan Agreement. This Note is issued pursuant to, entitled to the benefit of, and secured by the liens and security interests described in, the Loan Agreement and the other Loan Documents, but the foregoing reference to the Loan Agreement and the other Loan Documents shall not affect or impair the absolute and unconditional obligation of the Borrower to pay all amounts evidenced by this Note in accordance with its terms. Reference is hereby made to any loan agreements, notes, security agreements, leases, mortgages, guaranties, pledges and any other d

Ourpets – Promissory Note (December 6th, 2017)

This Note is issued pursuant to and in connection with a certain Loan and Security Agreement executed on even date herewith by and among Borrower and Lender (as it may be amended, restated or otherwise modified from time to time, the "Loan Agreement"), to which reference is hereby made for a statement of the rights of Lender and the duties and obligations of Borrower in relation thereto, but neither this reference to the Loan Agreement nor any provision thereof shall affect or impair the absolute and unconditional obligation of Borrower to pay the principal of and interest on this Note when due. In the Loan Agreement, this Note is referred to as Term Note Two. Capitalized terms used herein and not defined shall have the meaning given to them in the Loan Agreement. The headings of paragraphs of the Loan Agreement and the titles of any and all documents executed in conjunction therewith, including this Note, are for the convenience of reference only, and are not to be considered as limit

MAGELLAN GOLD Corp – PROMISSORY NOTE and AMENDMENT NO. 2 TO STOCK PURCHASE AGREEEMENT (December 6th, 2017)

WHEREAS, Magellan Gold Corporation, a Nevada corporation ("Magellan") and its wholly-owned subsidiary Magellan Acquisition Corporation ("MAC"), a Colorado corporation (collectively "Buyer" and "Makers") and Rose Petroleum plc ("Rose") and its wholly-owned subsidiary Vane Minerales (UK) Limited ("Seller" or "Holder") have executed and delivered a Stock SPA dated September 9, 2017 as amended by Amendment No. 1 thereto dated October 17, 2017 (the "SPA"); and

Dolphin Digital Media – Promissory Note (December 5th, 2017)
Dolphin Digital Media – Promissory Note (December 5th, 2017)

THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE SECURITIES ACT) NOR UNDER ANY STATE SECURITIES LAW AND MAY NOT BE PLEDGED, SOLD, ASSIGNED OR TRANSFERRED UNTIL (i) A REGISTRATION STATEMENT WITH RESPECT THERETO IS EFFECTIVE UNDER THE SECURITIES ACT AND ANY APPLICABLE STATE SECURITIES LAW OR (ii) THE COMPANY RECEIVES AN OPINION OF ITS COUNSEL, OR OTHER COUNSEL REASONABLY SATISFACTORY TO THE COMPANY, THAT THIS NOTE MAY BE PLEDGED, SOLD, ASSIGNED OR TRANSFERRED WITHOUT ANY EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR APPLICABLE STATE SECURITIES LAWS.

Fat Brands, Inc – PROMISSORY NOTE (FAT Brands-Maker) (December 4th, 2017)

FOR VALUE RECEIVED, the undersigned FAT Brands Inc., a Delaware corporation ("Maker"), promises to pay to the order of Fog Cutter Capital Group Inc., a Maryland corporation ("Holder"), which term shall include any subsequent holder of this Promissory Note (this "Note"), in lawful money of the United States of America, the principal sum of Thirty Million Dollars ($30,000,000), with interest thereon commencing as of the date first written above at the rate described below.

Fat Brands, Inc – INTERCOMPANY PROMISSORY NOTE (Fog Cutter-Maker) (December 4th, 2017)

FOR VALUE RECEIVED, the undersigned Fog Cutter Capital Group Inc., a Maryland corporation ("Maker"), promises to pay to the order of FAT Brands Inc., a Delaware corporation ("Holder"), which term shall include any subsequent holder of this Promissory Note (this "Note"), in lawful money of the United States of America, the principal sum of Eleven Million Nine Hundred and Six Thousand Dollars ($11,906,000), with interest thereon commencing as of the date hereof at the rate described below. This Note is being issued by Maker to document an intercompany payable that is owed by Maker to Holder on the date hereof in the amount set forth above.

Regions Promissory Note (December 1st, 2017)

PROMISE TO PAY. HIBBETT SPORTS INC ("Borrower'') promises to pay to REGIONS BANK ("Lender"), or order, in lawful money of the United States of America, the principal amount of Thirty Million & 00/100 Dollars ($30,000,000.00) or so much as may be outstanding, together with interest on the unpaid outstanding principal balance of each advance. Interest shall be calculated from the date of each advance until repayment of each advance.

Hpev, Inc. – Amendment to the $180,000 Promissory Note Date September 30, 2017 (November 30th, 2017)

This Amendment (this "Agreement") is entered into as of November 20, 2017 (the "Effective Date"), by and between Cool Technologies, Inc., a Nevada corporation (the "Company') and Lucas Hoppel (the "Holder") collectively, the Company and Holder shall be referred to as the "Parties" and each a "Party."

OMAGINE, INC. Promissory Note Due December 31, 2017 (The "Note") (November 20th, 2017)
IMH Financial Corp – Promissory Note (November 20th, 2017)

FOR VALUE RECEIVED, L'AUBERGE DE SONOMA, LLC, a Delaware limited liability company ("Borrower"), promises and agrees to pay to the order of MIDFIRST BANK, a federally chartered savings association ("Agent"), and each bank, including Agent, named on the signature pages hereto and such other banks as may from time to time become a party to this Agreement pursuant to the terms hereof (each, including Agent, a "Bank", and collectively, "Banks"), in lawful money of the United States of America, the principal sum of Thirty-Two Million Three Hundred Thousand and No/100 Dollars ($32,300,000.00) (the "Loan"), or so much thereof as may be advanced and outstanding under the Building Loan Agreement of even date herewith between Borrower and Agent (the "Loan Agreement"), with interest on the unpaid principal sum owing thereunder at the rate or rates or in the amounts computed in accordance with the Loan Agreement, together with all other amounts due Agent under the Loan Agreement, all payable in th

Asset Solutions Inc – Promissory Note (November 16th, 2017)

This Note may not be prepaid in whole or in part except as otherwise explicitly set forth herein.Following any Event of Default, all amounts owing pursuant to this Note shall bear interest at the rate of ten percent (10%) per annum from the due date thereof until the same is paid ("Default Interest"). Interest shall be computed on the basis of a 365-day year and the actual number of days elapsed. All payments due hereunder (to the extent not converted into common stock) shall be made in lawful money of the United States of America.

Rich Pharmaceuticals, Inc. – Promissory Note (November 16th, 2017)

This Note is being issued with a ten percent (10%) original issuance discount and with an initial $1,500 being withheld by the Holder to offset transaction costs.

Promissory Note (November 14th, 2017)

FOR VALUE RECEIVED, Acorn Energy, Inc., a Delaware corporation, (the "Maker"), with an address at 10451 Mill Run Circle, Suite 400, Owings Mills, Maryland 21117-5577, promises to pay to the order of Edgar Woolard (the "Holder"), the principal amount of ONE HUNDRED THOUSAND DOLLARS ($100,000.00) (the "Principal Amount"), together with interest thereon from the date hereof, in accordance with the terms of this Promissory Note (this "Note"), as hereafter set forth.

Ocean Bio-Chem, Inc. – Promissory Note (November 14th, 2017)

References in the shaded area are for Lender's use only and do not limit the applicability of this document to any particular loan or item. Any item about containing "***" has been omitted due to text length limitations.

Ambase – Promissory Note (November 14th, 2017)

FOR VALUE RECEIVED, AMBASE CORPORATION ("AmBase" or the "Company") promises to pay, without setoff, deduction or counterclaim of any kind or nature to RICHARD A. BIANCO, his heirs or assigns (collectively, "Richard A. Bianco"), the principal sum of THREE HUNDRED THOUSAND AND NO/100 DOLLARS (US $300,000), or so much thereof as has been advanced and remains unpaid, to be paid in lawful money of the United States together with interest thereon at a rate equal to 5.25% per annum, as follows:

Promissory Note (November 14th, 2017)

FOR VALUE RECEIVED, Acorn Energy, Inc., a Delaware corporation, (the "Maker"), with an address at 10451 Mill Run Circle, Suite 400, Owings Mills, Maryland 21117-5577, promises to pay to the order of Edgar Woolard (the "Holder"), the principal amount of THREE HUNDRED THOUSAND DOLLARS ($300,000.00) (the "Principal Amount"), together with interest thereon from the date hereof, in accordance with the terms of this Promissory Note (this "Note"), as hereafter set forth.

Ambase – Promissory Note (November 14th, 2017)

FOR VALUE RECEIVED, AMBASE CORPORATION ("AmBase" or the "Company") promises to pay, without setoff, deduction or counterclaim of any kind or nature to RICHARD A. BIANCO, his heirs or assigns (collectively, "Richard A. Bianco"), the principal sum of ONE HUNDRED FIFTY THOUSAND AND NO/100 DOLLARS (US $150,000), or so much thereof as has been advanced and remains unpaid, to be paid in lawful money of the United States together with interest thereon at a rate equal to 5.25% per annum, as follows:

Emmaus Life Sciences, Inc. – EMMAUS LIFE SCIENCES, INC. Promissory Note (November 14th, 2017)

FOR VALUE RECEIVED, Emmaus Life Sciences, Inc., a Delaware corporation, located at 21250 Hawthorne Blvd., Suite 800, Torrance, CA 90503 (Borrower) agrees to pay to Lender the sum of the Principal Amount in the stated Currency, together with any accrued interest at the stated Interest Rate, under the following terms and conditions of this this Promissory Note (Note).

TheGlobe – Promissory Note (November 13th, 2017)

Borrower promises to pay to the order of Lender, in lawful money of the United States of America, at its office indicated above or wherever else Lender may specify, the sum of Fifty Thousand and No/100 Dollars ($50,000.00) or such lesser sum as may be advanced and outstanding from time to time, with interest on the unpaid principal balance at the rate and on the terms provided in this Promissory Note (including all renewals, extensions or modifications hereof, this "Note").

NEF Enterprises, Inc. – PROMISSORY NOTE Probility Media CorpORATION DUE July 3, 2019 (November 13th, 2017)

THIS PROMISSORY NOTE (the "Note") is a duly authorized and validly issued promissory note of Probility Media Corporation, a Nevada corporation (the "Company"), issued on November 3, 2017 (the "Original Issue Date"), and such Note is due and payable on July 3, 2019 (the "Maturity Date").

Promissory Note Secured by Deeds to Secure Debt (November 9th, 2017)

FOR VALUE RECEIVED, the undersigned ("Borrower") promises to pay to SILVERGATE BANK, a California corporation ("Lender"), or order, during regular business hours at Silvergate Bank, 4250 Executive Square, Suite 300, La Jolla, California 92037-1492, Attention: Commercial RE Group, or at such other place as Lender may from time to time designate by written notice to Borrower, with sufficient information to identify the source and application of such payment, the sum of up to One Million Seven Hundred Ninety-Three Thousand Six Hundred Thirty-Three and No/100 Dollars ($1,793,633.00), together with interest on the balance of outstanding principal from the disbursement dates thereof at the per annum rate set forth below. All calculations of interest hereunder shall be computed on the basis of a 360 day year for the actual number of days elapsed.

Promissory Note (November 8th, 2017)

FOR VALUE RECEIVED, ZERO GRAVITY SOLUTIONS, INC., a Nevada corporation, its successors and assigns ("Maker"), here-by promises to pay to the order of Rio Vista Investments, LLC, or its successors or assigns located at 2200 Corporate Blvd., NW, Suite 400, Boca Raton, FL 33431 ("Payee"), the principal amount of FIVE HUNDRED THOUSAND UNITED STATES DOLLARS (US $500,000.00), together with interest on the principal balance outstanding hereunder, from (and including) the date hereof until (but not including) the date of payment, at the interest rate specified below, in accordance with the following terms and conditions:

Promissory Note (November 8th, 2017)

FOR VALUE RECEIVED, the undersigned, O.COM LAND, LLC (hereafter the Maker) of 799 W. Coliseum Way, Midvale, UT 84047, promises to pay to the order of PCL L.L.C., a Utah limited liability company, its successors or assigns (sometimes referred to herein as Holder), at its office at 10011 South Centennial Parkway, Suite 275, Sandy City, Utah 84070, or at such other place as the Holder may from time to time designate in writing, the principal sum of FORTY MILLION AND NO/100 DOLLARS ($40,000,000.00), together with interest on the unpaid balance hereof, at the rate herein below provided, to be paid in lawful money of the United States of America as follows:

Promissory Note (November 7th, 2017)

This Note is free from all taxes, liens, claims and encumbrances with respect to the issue thereof and shall not be subject to preemptive rights or other similar rights of shareholders of the Borrower and will not impose personal liability upon the holder thereof.