Promissory Note Sample Contracts

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.

Broadleaf Capital Partners Inc. – Promissory Note (October 18th, 2018)

This Note may not be changed or terminated orally, but only with an agreement in writing, signed by the parties against whom enforcement of any waiver, change, modification or discharge is sought, with such agreement being effective and binding only upon the parties thereto.

Sysorex Global Holdings Corp. – Promissory Note (October 18th, 2018)

FOR VALUE RECEIVED, Inpixon, a Nevada corporation ("Borrower"), promises to pay in lawful money of the United States of America to the order of Iliad Research and Trading, L.P., a Utah limited partnership, or its successors or assigns ("Lender"), the principal sum of $2,520,000.00, together with all other amounts due under this Promissory Note (this "Note"). This Note is issued pursuant to that certain Note Purchase Agreement of even date herewith between Borrower and Lender (the "Purchase Agreement").

Lux Amber, Corp. – Promissory Note (October 17th, 2018)

FOR VALUE RECEIVED, the undersigned LUX AMBER, CORP. (the "Borrower"), promises to pay to GUO ZHEN (the "Lender"), or order, at 109 Grand Guo Zhuang Stgeet, Zhumadian City, Henan Province, China 46Z000, or such other address as may be directed in writing, the principal sum of Fifteen Thousand Dollars ($15,000), together with interest thereon at a rate of ten percent (10%) per annum, computed from the date hereof on the basis of a three hundred sixty (360) day year, actual days elapsed.

Promissory Note (October 15th, 2018)

FOR VALUE RECEIVED, OneUp Innovations, Inc., a Georgia corporation, with its principal office at 2745 Bankers Industrial drive, Atlanta, Georgia 30360, hereinafter referred to as the "Maker", promises to pay to __________________________________, hereinafter referred to as the "Lender" or "Holder", the principal sum of ______________________ ($______________) lawful money of the United States of America, together with simple interest thereon computed from the date hereof at the rate of twenty (20.0%) percent per annum, which principal shall be payable in a single installment of $_______________ on the ___ day of __________, 201X and interest shall be paid monthly at the rate of $_,___ per month. Interest payments shall be made no later than the 15th of each month with the first payment due on _____________, 201_.

Magna-Lab Inc -Cl A – Promissory Note (October 12th, 2018)

FOR VALUE RECEIVED, the undersigned, Magna-Lab Inc., a New York corporation ("Borrower"), HEREBY PROMISES TO PAY to the order of Magna Acquisition LLC or its registered assigns ( "Lender"), in lawful money of the United States of America, in the manner and at the times provided hereinafter, the principal sum of Three Thousand Dollars (US$3,000), together with Interest (as hereinafter defined) and Default Interest (as hereinafter defined) and all other amounts due and payable pursuant to and in accordance with terms of this Note.

Protalex – Promissory Note (October 12th, 2018)

FOR VALUE RECEIVED, PROTALEX, INC., a Delaware corporation ("Protalex"), having an address at 131 Columbia Turnpike, Suite 1, Florham Park, NJ 07932 (the "Company"), unconditionally promise to pay to the order of NIOBE VENTURES, LLC, a Delaware limited liability company (hereinafter referred to as the "Holder"), at the offices of Morse, Zelnick, Rose & Lander LLP, 825 Third Avenue, 16th floor, New York, New York 10022, or at such other place as Holder may designate in writing, the principal sum of Two Hundred Fifty Thousand and 00/100 Dollars ($250,000) (the "Principal Sum"), with interest thereon computed from the date hereof until maturity, whether on the Maturity Date (as hereinafter defined), by acceleration, or otherwise, at the rate of three percent (3.00%) per annum (the "Interest Rate"), and thereafter, in accordance with the terms of this Note, at the Default Rate (as hereinafter defined and governed), together with any costs, expenses and attorneys' fees incurred by Holder pu

Magna-Lab Inc -Cl A – Promissory Note (October 12th, 2018)

FOR VALUE RECEIVED, the undersigned, Magna-Lab Inc., a New York corporation ("Borrower"), HEREBY PROMISES TO PAY to the order of Magna Acquisition LLC or its registered assigns ( "Lender"), in lawful money of the United States of America, in the manner and at the times provided hereinafter, the principal sum of Three Thousand Five Hundred Dollars (US$3,500), together with Interest (as hereinafter defined) and Default Interest (as hereinafter defined) and all other amounts due and payable pursuant to and in accordance with terms of this Note.

Teo Foods Inc – Promissory Note (October 11th, 2018)

This Promissory Note ("Note") is by and between the Obligor and the Holder and is entitled to the benefits of, and evidences obligations contained in this note. This Note shall be subject to the following terms and conditions as the agreement between the Holder and Obligor:

Federal Life Group, Inc. – Exchangeable PROMISSORY NOTE (October 11th, 2018)

This exchangeable promissory note (the "Note") is issued in connection with that certain Standby Stock Purchase Agreement (as may be amended, the "Purchase Agreement") dated as of the date hereof, among the Company, Federal Life Group, Inc. ("ListCo"), Federal Life Insurance Company ("Federal Life") and Holder. Capitalized terms used herein without definition shall have the meanings given to such terms in the Purchase Agreement.

Digital Power Corporation – Original Issue Discount PROMISSORY NoTE (October 11th, 2018)

This Note shall be subject to a Securities Purchase Agreement dated the date of this Note between the Maker and the Lender (the "SPA"). Any of the following shall be deemed an Event of Default under this Note:

EpiCept Corporation – Promissory Note (October 10th, 2018)

FOR VALUE RECEIVED, the borrower whose name appears on the signature page hereto ("Borrower"), promises to pay to the order of Immune Pharmaceuticals Inc., a Delaware corporation ("Lender"), the Initial Principal Amount, together with interest thereon, as follows:

Form of Lender Note PROMISSORY NOTE (October 9th, 2018)

FOR VALUE RECEIVED, the borrower whose name appears on the signature page hereto ("Borrower"), promises to pay to the order of Beyond Commerce, Inc., a Nevada corporation ("Lender"), the Initial Principal Amount, together with interest thereon, as follows:

Generex Biotechnology Corporation – Promissory Note (October 9th, 2018)

FOR VALUE RECEIVED, NuGenerex Distribution Solutions, LLC, a Delaware Limited Liability Company (the "Maker"), having an address c/o Generex Biotechnology Corporation, 10102 USA Today Way, Miramar, FL 33025, promises to pay to the order of Veneto Holdings, L.L.C., a Texas limited liability company (the "Holder"), at the times provided in Section 2 below, the principal amount of Fifteen Million U.S. Dollars ($15,000,000.00 U.S.) (the "Principal Amount"), with interest thereon and expenses associated therewith from the date hereof in accordance with the terms hereof.

Medalist Diversified REIT, Inc. – Promissory Note (October 5th, 2018)
Medalist Diversified REIT, Inc. – Promissory Note (October 5th, 2018)

FOR VALUE RECEIVED PMI GREENSBORO, LLC, a Delaware limited liability company having its principal place of business at 406 Page Road, Nashville, Tennessee 37205 ("TIC Borrower 1"), and MDR GREENSBORO, LLC, a Delaware limited liability company having its principal place of business at 11 S. 12th Street, Suite 401, Richmond, Virginia 23219 ("TIC Borrower 2", and, collectively with TIC Borrower 1, hereinafter, individually or collectively as the context may imply, "Borrower"), as maker, hereby unconditionally promises to pay to the order of BENEFIT STREET PARTNERS REALTY OPERATING PARTNERSHIP, L.P., a Delaware limited partnership, having an address at 9 West 57th Street, Suite 4920, New York, New York 10019 (together with its successors and/or assigns, "Lender"), or at such other place as the holder hereof may from time to time designate in writing, the principal sum of TEN MILLION SIX HUNDRED THOUSAND AND NO/100 DOLLARS ($10,600,000.00), or so much thereof as is advanced pursuant to that

AMEDICA Corp – Promissory Note (October 5th, 2018)

This Note is executed and delivered in accordance with Section 2.1(b) of that certain Asset Purchase Agreement dated as of September 5, 2018, by and among Maker, as buyer, and Payee and US SPINE, INC., a Delaware corporation, collectively, as seller (the "Agreement"). Capitalized terms not defined herein shall have the meanings assigned to them in the Agreement.

Medalist Diversified REIT, Inc. – Promissory Note (October 5th, 2018)

FOR VALUE RECEIVED, MEDALIST FUND I-A, LLC, a Delaware limited liability company, as maker, having its principal place of business at 1l S. 12th Street, Suite 401, Richmond, Virginia 23219 ("Borrower"), hereby unconditionally promises to pay to the order of JEFFERIES LOANCORE LLC, a Delaware limited liability company, as lender, having an address at c/o LoanCore Capital, 55 Railroad Avenue, Suite 100, Greenwich, Connecticut 06830 (together with its successors and/or assigns, "Lender"), or at such other place as the holder hereof may from time to time designate in writing, the principal sum of FOURTEEN MILLION TWO HUNDRED SEVENTY-FIVE THOUSAND AND NO/I DOLLARS ($14,275,000) or so much thereof as is advanced pursuant to that certain Loan Agreement dated the date hereof between Borrower and Lender (as the same may be amended, modified, supplemented, replaced or otherwise modified from time to time, the "Loan Agreement"), in lawful money of the United States of America, with interest ther

NEF Enterprises, Inc. – PROMISSORY NOTE Probility Media CorpORATION DUE July 3, 2019 (October 4th, 2018)

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").

InfoSonics – Cool Holdings, Inc. Promissory Note Consolidation Agreement (October 3rd, 2018)

This PROMISSORY NOTE CONSOLIDATION AGREEMENT (this "Agreement") is made and entered into as of September 30, 2018, by and among Cool Holdings, Inc., a Maryland corporation ("Company"), the existing debtors set forth on Schedule 1 attached hereto (each, a "Debtor", and collectively, the "Debtors"), and Delavaco Holdings Inc., the existing creditor of the Debtors (the "Creditor"). The Company, the Debtors and the Creditor are sometimes individually referred to herein as a "Party", and collectively as, the "Parties".

Digital Power Corporation – Promissory Note (October 3rd, 2018)

For value received, the undersigned, _Super Crypto Mining, Inc._, a Delaware Corporation (the "Borrower"), hereby promises to pay to the order of the Lender set forth above (the "Lender") the Principal Amount set forth above, or, if less, the aggregate unpaid principal amount of the Loan (as defined in the Loan Agreement referred to below) made by the Lender to the Borrower on the date hereof, payable at such times, and in such amounts, as are specified in the Loan Agreement.

Acceris Communications – Promissory Note (October 3rd, 2018)

PROMISE TO PAY. Heritage Global Inc. ("Borrower") promises to pay to First Choice Bank ("Lender"), or order, in lawful money of the United States of America, the principal amount of One Million Five Hundred Thousand & 00/100 Dollars ($1,500,000.00) 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.

Biolargo Inc. – Promissory Note (October 2nd, 2018)

This Note is entered into in connection with a Stock Purchase Agreement and Plan of Reorganization of even date hereof (the "Stock Purchase Agreement"), pursuant to which Holder sold, transferred and assigned to Issuer all or substantially all of its assets in exchange for certain consideration including this Note.

Teo Foods Inc – Promissory Note (October 1st, 2018)

This Promissory Note ("Note") is by and between the Obligor and the Holder and is entitled to the benefits of, and evidences obligations contained in this note. This Note shall be subject to the following terms and conditions as the agreement between the Holder and Obligor:

Promissory Note (September 28th, 2018)
DD3 Acquisition Corp. – Promissory Note (September 28th, 2018)

FOR VALUE RECEIVED, the undersigned DD3 Acquisition Corp., a company incorporated in the British Virgin Islands ("Maker" or the "Company"), hereby unconditionally promises to pay to the order of DD3 Mex Acquisition Corp, a corporation incorporated under the laws of Mexico ("Payee"), the sum of ONE HUNDRED FIFTY THOUSAND DOLLARS ($150,000) or such lesser amount as shall have been advanced by Payee to Maker and shall remain unpaid under this note (this "Note"), in legal and lawful money of the United States of America.

Saban Capital Acquisition Corp. – Saban Capital Acquisition Corp. Promissory Note (September 27th, 2018)
Demand Promissory Note (September 27th, 2018)

This Note may be prepaid in whole or in part without premium or penalty. All payments shall be made in lawful money of the United States of America and shall be applied first to fees and costs, including collection costs, if any, next to interest, if any, then to principal. The records of Holder with respect to amounts due and payments received hereunder shall be presumed to be correct evidence thereof.

Promissory Note (September 27th, 2018)

FOR VALUE RECEIVED, the undersigned (hereinafter referred to as "Maker") promises to pay to the order of RVRM HOLDINGS, LLC, at such address as the Lender shall specify in writing to the Borrower, (hereinafter collectively referred to as the "Lender"), the principal sum of ___________________ (US $________), together with interest thereon from the date or dates of disbursement of the aforesaid principal sum. Principal and interest shall be payable as follows:

Advanced Voice Recognition Systems, Inc – Agreement to Amend Promissory Note (September 26th, 2018)

This Agreement to Amend Promissory Note (Agreement) is made effective this 1st day of August, 2018 (Effective Date) between Meyer & Associates, LLC (M&A) and Advanced Voice Recognition Systems, Inc. (AVRS) and Walter Geldenhuys (Geldenhuys). The signatories to this Agreement may be referred to jointly as the Parties.

Advanced Voice Recognition Systems, Inc – PROMISSORY NOTE January 31, 2018 (September 26th, 2018)

FOR VALUE RECEIVED, the undersigned, Advanced Voice Recognition Systems, Inc. and Walter Geldenhuys (jointly, the "Maker it being specifically understood and agreed that the obligation of each and both will be joint and several), hereby promises to pay to the order of Meyer & Associates, LLC, a Colorado limited liability company ("Payee "), the principal sum of FIFTY TWO THOUSAND THREE HUNDRED EIGHTY-FIVE DOLLARS AND FORTY-SIX CENTS ($52,385.46), as well as accrued interest on the outstanding principal as set forth in this Promissory Note pursuant to the terms and conditions as set forth herein.

Promissory Note (September 24th, 2018)
PACIFIC OIL Co – Promissory Note (September 24th, 2018)

FOR VALUE RECEIVED, the undersigned, Financial Gravity Companies, Inc., a Nevada corporation ("Borrower"), promises to pay to the order of Elmer Fink ("Holder"), the principal sum of ONE HUNDRED THOUSAND DOLLARS ($100,000.00), together with simple interest from the date of this Note until paid at a rate of ten percent (10%) per annum until maturity, both principal and interest being payable at the address designated in Section 9, or at such other place as Holder may from time to time designate in writing.

PACIFIC OIL Co – Promissory Note (September 24th, 2018)

FOR VALUE RECEIVED, the undersigned, Financial Gravity Companies, Inc., a Nevada corporation ("Borrower"), promises to pay to the order of Helen Janssen ("Holder"), the principal sum of TWO HUNDRED THOUSAND DOLLARS ($200,000.00), together with simple interest from the date of this Note until paid at a rate of ten percent (10%) per annum until maturity, both principal and interest being payable at the address designated in Section 9, or at such other place as Holder may from time to time designate in writing.

Biolargo Inc. – Promissory Note (September 24th, 2018)

The Issuer agrees to pay interest on the unpaid Loan Amount from time to time outstanding hereunder at the following rates per year, compounded annually before the Maturity Date, whether by acceleration or otherwise, at the rate per annum equal to twelve percent (12%). So long as an Event of Default (as defined in Section 4 below) has not occurred, Issuer may extend the Maturity Date of the Note by 60 days by giving written notice to Holder at any time prior to the Maturity Date, and in such event the Principal Amount of this Note will increase by ten percent (10%), effective as of the date of the notice.

PACIFIC OIL Co – Promissory Note (September 24th, 2018)

FOR VALUE RECEIVED, the undersigned, Financial Gravity Companies, Inc., a Nevada corporation ("Borrower"), promises to pay to the order of Mike and Terri Ashby ("Holder"), the principal sum of ONE HUNDRED THOUSAND DOLLARS ($100,000.00), together with simple interest from the date of this Note until paid at a rate of ten percent (10%) per annum until maturity, both principal and interest being payable at the address designated in Section 9, or at such other place as Holder may from time to time designate in writing.