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.

Level Brands, Inc. – Promissory Note (August 14th, 2018)

FOR VALUE RECEIVED, the undersigned, Stone Street Partners, LLC, a North Carolina limited liability company (the "Maker"), hereby promises to pay to the order of I|M1, LLC, a California limited liability company (together with its successors and assigns, the "Holder"), the principal sum of One Hundred and Fifty-Five Thousand Four Hundred Dollars ($155,400), with all principal and interest amounts outstanding hereunder from time to time, payable on December 31, 2018. This Promissory Note shall carry an interest rate of five percent (5%) per annum, and shall be computed on the basis of a 365-day year.

International Stem Cell CORP – International Stem Cell Corporation Promissory Note (August 14th, 2018)

FOR VALUE RECEIVED, and subject to the terms and conditions set forth herein, on this _8th_ day of August, 2018 (the "Issuance Date"), International Stem Cell Corporation, a Delaware corporation, with offices located at 5950 Priestly Drive, Carlsbad, CA 92008 (the "Borrower"), hereby unconditionally promises to pay to the order of Andrey Semechkin or his assigns (the "Noteholder"), the principal amount of two million U.S. dollars ($2,000,000) (the "Loan"), together with all accrued interest thereon, as provided in this Promissory Note (the "Note").

Emmaus Life Sciences, Inc. – EMMAUS LIFE SCIENCES, INC. Promissory Note (August 14th, 2018)

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").

GWG Holdings, Inc. – The BENEFICIENT COMPANY GROUP, L.P. Exchangeable Promissory Note (August 14th, 2018)

FOR VALUE RECEIVED, The Beneficient Company Group, L.P., a Delaware limited partnership (the "Borrower"), hereby promises to pay to GWG Holdings, Inc. (the "Lender"), $162,911,379 or, if less due to prepayment in accordance with Section 2.03, the unpaid principal amount of this Note on August 9, 2023 (the "Maturity Date"), and to pay interest on the principal amount of this Note as provided in Section 2.01. The Lender accepts as of the date hereof this Note in connection with the Transaction (as defined below), and the Borrower issues the Note and undertakes the obligations hereunder in connection with the Transaction for value received effective as of the date hereof.

Teo Foods Inc – Promissory Note (August 13th, 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:

Nant Health, LLC – Promissory Note (August 9th, 2018)

For value received, NantHealth, Inc., with offices at 9920 Jefferson Boulevard, Culver City, California 90232 (the "Company"), hereby unconditionally promises to pay to the order of Nant Capital, LLC, with offices at 9922 Jefferson Boulevard, Culver City, California 90232 ("Holder"), or to the order of Holder's registered assigns, the principal amount of One Hundred Millions Dollars ($100,000,000) or, if less, the aggregate unpaid amount of all advances (each, an "Advance" and, collectively, the "Advances") made by Holder and disbursed to the Company pursuant to this Promissory Note (this "Note"), in each case, together with all accrued interest thereon, in immediately available funds, at the times and in the manner set forth herein.

Goldfield Corporation (The) – Addendum to Modification Promissory Note (August 7th, 2018)

THIS ADDENDUM TO MODIFICATION PROMISSORY NOTE ("Addendum") is hereby made a part of the Modification Promissory Note dated May 24, 2018, from The Goldfield Corporation ("Borrower") payable to the order of Branch Banking and Trust Company ("Bank") in the principal amount of $27,490,000.00 (including all renewals, extensions, modifications and substitutions thereof, the "Note").

Goldfield Corporation (The) – Modification Promissory Note (August 7th, 2018)

The Goldfield Corporation (whether one or more, the "Borrower") HEREBY REPRESENTS THAT THE LOAN EVIDENCED BY THIS MODIFICATION PROMISSORY NOTE ("Note") IS BEING OBTAINED FOR BUSINESS/COMMERCIAL OR AGRICULTURAL PURPOSES AND NOT FOR PERSONAL, FAMILY, OR HOUSEHOLD PURPOSES. For value received, the Borrower, jointly and severally if more than one, promises to pay to BRANCH BANKING AND TRUST COMPANY, a North Carolina banking corporation (including its successors and assigns, the "Bank"), or order, at any of Bank's offices in the above referenced city (or such other place or places that may be hereafter designated by Bank) the sum of Twenty Seven Million Four Hundred Ninety Thousand and no/100 Dollars ($27,490,000.00), or such lesser amount outstanding at maturity, in immediately available currency of the United States of America. This Note consolidates that certain Promissory Note dated June 9, 2017, executed by the Borrower in favor of Bank in the original principal amount of $22,600,000

CLS Holdings USA, Inc. – Promissory Note (August 7th, 2018)

For value received, the undersigned, CLS HOLDINGS USA, INC., a Nevada corporation (the "Maker"), hereby promises to pay to the order of Newcan Investment Partners LLC, a Delaware limited liability company (the "Holder"), at 16047 Collins Avenue, Unit 505 ST, Sunny Isles Beach, FL 33160 (or such other place(s) as Holder may designate from time to time), the principal sum of Seventy-Five Thousand and 00/100 Dollars ($75,000.00), or such portion thereof as shall have been advanced from time to time, together with accrued and unpaid interest thereon, on the terms provided in this promissory note (this "Note").

Goldfield Corporation (The) – Promissory Note (August 7th, 2018)

The Goldfield Corporation (whether one or more, the "Borrower") HEREBY REPRESENTS THAT THE LOAN EVIDENCED BY THIS PROMISSORY NOTE ("Note") IS BEING OBTAINED FOR BUSINESS/COMMERCIAL OR AGRICULTURAL PURPOSES AND NOT FOR PERSONAL, FAMILY, OR HOUSEHOLD PURPOSES. For value received, the Borrower, jointly and severally if more than one, promises to pay to BRANCH BANKING AND TRUST COMPANY, a North Carolina banking corporation (including its successors and assigns, the "Bank"), or order, at any of Bank's offices in the above referenced city (or such other place or places that may be hereafter designated by Bank) the sum of Eighteen Million and no/100 Dollars ($18,000,000.00), or such lesser amount outstanding at maturity, in immediately available currency of the United States of America.

MR2 Group, Inc. – PROMISSORY NOTE Principal Loan Date Maturity Loan No (August 6th, 2018)
Advanced Voice Recognition Systems, Inc – Agreement to Amend Promissory Note (August 6th, 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.

MR2 Group, Inc. – PROMISSORY NOTE References in the Boxes Above Are for Lender's Use Only and Do Not Limit the Applicability of This Document to Any Particular Loan or Item. Any Item Above Containing "***" Has Been Omitted Due to Text Length Limitations. (August 6th, 2018)

Borrower: MR2 Group, Inc., a Nevada corporation Lender: Western Alliance Bank, an Arizona corporation 101 Convention Center Drive, Suite 125 Aliante Regional Office Las Vegas, NV 89109 6915 Aliante Parkway North Las Vegas, NV 89084 (702) 856-7160

All For One Media Corp. – Promissory Note (August 3rd, 2018)

FOR VALUE RECEIVED, All for One Media Corp, Inc, a Utah Corporation with an address at 236 Sarles Street, Mount Kisco, New York 10549 (referred to herein as "Debtor"), hereby irrevocably promises and agrees to pay to the order of GHS Investments, LLC a Nevada Limited Liability Company with an address at 420 Jericho Turnpike,, Suite 207, Jericho, NY 11753 ("Creditor"), or at such other place as set forth herein or as designated in writing by the Holder (as defined below) hereof, in lawful money of the United States of America, the principal sum of Forty Thousand Dollars ($40,000), together with interest thereon (if any) and other fees in connection therewith, all in accordance with the terms and conditions set forth below.

New Ulm Telecom – Promissory Note Nuvera Communications, Inc. (August 3rd, 2018)

This note is given for the loan to be made by the Payee to the undersigned pursuant to the Loan Agreement, all of the terms and provisions of which (including, without limitation, provisions regarding acceleration of the maturity hereof and application of default interest and of a surcharge to payments hereunder) are hereby incorporated by reference. Accrued interest and payments shall be posted by the Payee upon an appropriate accounting record, which record (and all computer printouts thereof) shall constitute prima facie evidence of the outstanding principal and interest on the loan. Any amount of principal hereof which is not paid when due, whether at stated maturity, by acceleration or otherwise, shall bear interest from the date when due until said principal amount is paid in full, payable on demand, at a rate per annum set forth in Section 11(D) of the MLA.

New Ulm Telecom – Promissory Note (August 3rd, 2018)

This note is given for one or more advances to be made by the Payee to the undersigned pursuant to the Loan Agreement, all of the terms and provisions of which (including, without limitation, provisions regarding acceleration of the maturity hereof and application of default interest and of a surcharge to payments hereunder) are hereby incorporated by reference. Advances, accrued interest and payments shall be posted by the Payee upon an appropriate accounting record, which record (and all computer printouts thereof) shall constitute prima facie evidence of the outstanding principal and interest on the advances. The total of such advances may exceed the face amount of this note, but the unpaid principal balance shall not at any time exceed such face amount. Any amount of principal hereof which is not paid when due, whether at stated maturity, by acceleration or otherwise, shall bear interest from the date when due until said principal amount is paid in full, payable on demand, at a

Gpods, Inc. – Promissory Note (August 2nd, 2018)

FOR VALUE RECEIVED on the date stated above (the "Effective Date"), the undersigned GPods, Inc. ("Borrower") promises to pay to the order of ________ ("Lender"), at _______________________, or at such other place as the Lender may designate in writing to the undersigned Borrower, the sum of TWO THOUSAND FIVE HUNDRED AND 00/100 DOLLARS ($2,500.00), together with interest thereon (the "Debt"), in accordance with the following terms and conditions.

Promissory Note (August 2nd, 2018)
Webstar Technology Group Inc. – Promissory Note (July 18th, 2018)

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.

Lightning Gaming, Inc. – Promissory Note (July 18th, 2018)

FOR VALUE RECEIVED, Lightning Gaming, Inc., a corporation organized under the laws of the State of Nevada, Lightning Slot Machines, LLC, a limited liability company organized under the laws of the State of Nevada and Lightning Poker, Inc., a corporation organized under the laws of the State of Pennsylvania (collectively, the "Borrower") agrees and promises to pay to the order of PDS Gaming LLC, a limited liability company organized under the laws of the State of Minnesota (together with its endorsees, successors and assigns hereby collectively referred to as the "Holder"), at the principal office at 6280 Annie Oakley Drive, Las Vegas, Nevada 89120 or such other place as Holder may from time to time designate, the principal sum of Four Hundred Eighty-Nine Thousand Nine Hundred Eighty-Nine and 00/100 Dollars ($489,989.00), together with interest on the Principal Balance (as later defined) at the rate of interest hereinafter set forth, in readily available United States funds. This Note s

Wilhelmina Interntl – Promissory Note (July 17th, 2018)

FOR VALUE RECEIVED, WILHELMINA INTERNATIONAL, INC., a Delaware corporation ("Borrower"), having an address at 200 Crescent Court, Suite 1400, Dallas, Texas 75201 hereby promises to pay to the order of ZB, N.A. dba AMEGY BANK (together with its successors and assigns and any subsequent holders of this Note, "Lender"), as hereinafter provided, the principal sum of ONE MILLION AND NO/100 DOLLARS ($1,000,000.00) or so much thereof as may be advanced by Lender from time to time hereunder to or for the benefit or account of Borrower, together with interest thereon at the Note Rate (as hereinafter defined), and otherwise in strict accordance with the terms and provisions hereof.

Magna-Lab Inc -Cl A – Promissory Note (July 16th, 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 Thirty 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.

Magna-Lab Inc -Cl A – Promissory Note (July 16th, 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 Ten Thousand Dollars (US$10,000), 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.

Magna-Lab Inc -Cl A – Promissory Note (July 16th, 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 Fifteen Hundred Dollars (US$1,500), 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.

Magna-Lab Inc -Cl A – Promissory Note (July 16th, 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 One Thousand Dollars (US$1,000), 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.

Kadant Inc – Promissory Note (July 12th, 2018)

FOR VALUE RECEIVED, Kadant Inc., a Delaware corporation ("Kadant"), Kadant Johnson LLC, a Delaware limited liability company ("Kadant Johnson"), and Kadant Black Clawson LLC, a Delaware limited liability company ("Kadant Black") and Verus Lebanon, LLC a Delaware limited liability company having an address c/o Kadant Inc., One Technology Park Drive, Westford, MA 01886 ("Verus", and together with Kadant, Kadant Johnson, Kadant Black and their respective successors and assigns, the "Borrowers"), promise to pay to Citizens Bank, N.A. (together with its successors and assigns, the "Bank"), or order, at the Bank's place of business located at 28 State Street, Boston, Massachusetts 02109, or at such other place as the Bank may designate to the Borrowers from time to time, the principal sum of TWENTY-ONE MILLION DOLLARS ($21,000,000.00), together with interest on the unpaid principal balance as set forth below.

urban-gro, Inc. – Promissory Note One-Year (July 11th, 2018)

For value received from the undersigned, urban-gro, LLC ("UG") promises to pay to the order of Bravo-Lighting, LLC ("Bravo-Lighting") the principal amount $200,000.00 US DOLLARS together with interest accrued thereon, on or before July 31, 2017, with interest at the rate detailed as follows:

Griffin Land & Nurseries, Inc. – PROMISSORY NOTE (Construction Loan) (July 10th, 2018)

FOR VALUE RECEIVED, the undersigned, TRADEPORT DEVELOPMENT VI, LLC, a Connecticut limited liability company ("Maker"), promises to pay to the order of STATE FARM LIFE INSURANCE COMPANY, an Illinois corporation, its successors or assigns ("State Farm"), the principal sum of Fourteen Million Two Hundred Eighty Seven Thousand Five Hundred and 00/100 Dollars ($14,287,500.00) or so much thereof as shall have been advanced under the Loan Agreement (as defined herein) and which remains outstanding ("Principal"), together with interest on the unpaid Principal balance outstanding from the date of disbursement until paid at the rate of four and fifty-one one hundredths percent (4.51%) per annum (the "Note Rate"). Interest shall be computed on the basis of a three hundred sixty (360) day year having twelve (12) months of thirty (30) days each. Principal and interest accrued thereon, together with all other sums which may be at any time due, owing or required to be paid by the terms of the Const

art+design – Promissory Note (July 6th, 2018)

This Note is issued pursuant to, and in accordance with, the Purchase and Sale Agreement, dated June 08th, 2018 by and among the Maker, Payee and Holder (the "Purchase Agreement"). All capitalized terms not otherwise defined in this Note shall have the meanings attributed to such terms in the Purchase Agreement.

Newmarkt Corp. – Promissory Note (July 5th, 2018)

This Note carries an original issue discount of $30,000.00 (the "OID"). In addition, the Borrower shall authorize the Holder, pursuant to a disbursement memorandum dated on or around the Issue Date, to pay the Holder's attorney's fees incurred in connection with the preparation of this Note (the "Legal Fee"). The Purchase Price of this Note shall be $200,000.00, computed as follows: $230,000.00 initial principal balance less the OID. Accordingly, the net amount to be received by Borrower shall be $200,000.00, computed as follows: the purchase price of $200,000.00, less the Legal Fee.

Thenablers, Inc. – Promissory Note (July 5th, 2018)

On this 7th day of May 2018, in return for valuable consideration received for expenses paid, the undersigned borrower, Thenablers Ltd (herein "Borrower"), promises to pay to Thenablers, Inc. (the "Lender"), the sum of Thirty Thousand Dollars ($30,000.00) with no interest.

Pure Bioscience – Promissory Note (July 2nd, 2018)

FOR VALUE RECEIVED, Pure Bioscience, Inc., a Delaware corporation (the "Company), hereby promises to pay Tom Y. Lee (the "Lender"), the principal sum of Five Hundred Thousand Dollars ($500,000), together with interest thereon from the date of this Note. Interest shall accrue at a rate of 6.5% per annum, compounded annually. The principal and accrued interest shall be due and payable by the Company on demand by Lender at any time after June 28, 2019.

Bionik Laboratories Corp. – Bionik Laboratories Corp. Promissory Note (June 27th, 2018)

Bionik Laboratories Corp., a Delaware corporation (the "Company"), for value received, hereby promises to pay to RGD Investissements S.A.S. or its permitted assigns or successors (the "Holder"), the principal amount of One Hundred Sixty Thousand Dollars (US$160,000.00) (the "Principal Amount"), without demand, on the Maturity Date (as hereinafter defined), together with any accrued and unpaid interest due thereon. This Note shall bear interest at a fixed rate of 1% per month, beginning on the Issue Date. Interest shall be computed based on a 360-day year of twelve 30-day months and shall be payable, along with the Principal Amount, on the Maturity Date. Payment of all principal and interest due shall be in such coin or currency of the United States of America as shall be legal tender for the payment of public and private debts at the time of payment.

Bionik Laboratories Corp. – Bionik Laboratories Corp. Promissory Note (June 27th, 2018)

Bionik Laboratories Corp., a Delaware corporation (the "Company"), for value received, hereby promises to pay to RGD Investissements S.A.S. or its permitted assigns or successors (the "Holder"), the principal amount of One Hundred Thousand Dollars (US$100,000.00) (the "Principal Amount"), without demand, on the Maturity Date (as hereinafter defined), together with any accrued and unpaid interest due thereon. This Note shall bear interest at a fixed rate of 1% per month, beginning on the Issue Date. Interest shall be computed based on a 360-day year of twelve 30-day months and shall be payable, along with the Principal Amount, on the Maturity Date. Payment of all principal and interest due shall be in such coin or currency of the United States of America as shall be legal tender for the payment of public and private debts at the time of payment.

Bionik Laboratories Corp. – Bionik Laboratories Corp. Promissory Note (June 27th, 2018)

Bionik Laboratories Corp., a Delaware corporation (the "Company"), for value received, hereby promises to pay to RGD Investissements S.A.S. or its permitted assigns or successors (the "Holder"), the principal amount of One Hundred Ninety Thousand Dollars (US$190,000.00) (the "Principal Amount"), without demand, on the Maturity Date (as hereinafter defined), together with any accrued and unpaid interest due thereon. This Note shall bear interest at a fixed rate of 1% per month, beginning on the Issue Date. Interest shall be computed based on a 360-day year of twelve 30-day months and shall be payable, along with the Principal Amount, on the Maturity Date. Payment of all principal and interest due shall be in such coin or currency of the United States of America as shall be legal tender for the payment of public and private debts at the time of payment.