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.

Myomo Inc – Amendment No, 1 to Amended and Restated Unsecured Term Promissory Note (October 20th, 2017)

This AMENDMENT No. 1 entered into this 29th day of June, 2016 (this "Amendment") to the Amended and Restated Unsecured Term Promissory Note effective September 1, 2015, issued by Myomo, Inc., a Delaware corporation (the "Maker"), to Sandcastle Limited Partnership (the "Lender").

Promissory Note (October 19th, 2017)

This is a Promissory Note made and effective as of October 13, 2017 by and between Turbine International, a Delaware limited liability company, located at 1209 Orange St., Corporation Trust Center, Wilmington, Delaware ("TI") and Capstone Turbine Corporation, located at 21211 Nordhoff Street, Chatsworth, CA 91311 ("Capstone")

Lockbox Link, Inc. – Lockbox Link, Inc. Promissory Note (October 18th, 2017)

FOR VALUE RECEIVED, LOCKBOX LINK, INC., a corporation duly organized and validly existing under the laws of the State of Nevada (the "Company"), promises to pay to Natalie Moores, the registered holder of this promissory note (the "Note") and its successors and assigns (the "Holder"), the principal sum of $25,000 (twenty five thousand dollars) ("Loan Proceeds"), with interest at 12% per annum, calculated upon a 360 day year, in accordance with the terms hereof and the Line of Credit and Security Agreement of even date by and between the Company and the Holder, with interest on the principal sum outstanding in accordance with the terms hereof. Terms defined in the Line of Credit and Security Agreement and not otherwise defined herein shall have the meanings assigned thereto in the Line of Credit and Security Agreement

Victory Energy Corp – Amendment No. 1 to Secured Convertible Original Issue Discount Promissory Note and to Loan Agreement (October 17th, 2017)

Effective on October 11, 2017 (the "Effective Date"), each of (i) the Secured Convertible Original Issue Discount Promissory Note, dated August 21, 2017, issued by VICTORY ENERGY CORPORATION to VISIONARY PRIVATE EQUITY GROUP I, LP in the principal amount of $550,000 (the "Note"), and (ii) the Loan Agreement, dated August 21, 2017 by and between VICTORY ENERGY CORPORATION and VISIONARY PRIVATE EQUITY GROUP I, LP (the "Loan Agreement"), are hereby amended as follows:

Indoor Harvest Corp – Amendment #1 to the $550,000 Promissory Note Dated March 22, 2017 (October 13th, 2017)

The parties agree that the $550,000 Fixed Convertible Promissory Note (the "Note") by and between Indoor Harvest Corp. (the "Borrower") and Tangiers Global, LLC (the "Lender") is hereby amended as follows:

CBTX, Inc. – Promissory Note (October 13th, 2017)

For value received, CBFH, INC., a Texas corporation (Borrower, whether one or more) does hereby promise to pay to the order of FROST BANK, a Texas state bank (Lender), at P.O. Box 34746, San Antonio, Texas 78265, or at such other address as Lender shall from time to time specify in writing, in lawful money of the United States of America, the sum of THIRTY ONE MILLION AND NO/100 DOLLARS ($31,000,000.00), or so much thereof as from time to time may be disbursed by Lender to Borrower under the terms of that certain Loan Agreement dated of even date herewith between Borrower and Lender (the Loan Agreement), and be outstanding, together with interest from date hereof on the principal balance outstanding from time to time as hereinafter provided. Interest shall be computed on a per annum basis of a year of 360 days and for the actual number of days elapsed, unless such calculation would result in a rate greater than the highest rate permitted by applicable law, in which case interest shall

Greystone Logistics – PROMISSORY NOTE (Term Loan C) (October 13th, 2017)

THIS PROMISSORY NOTE (as amended, modified, replaced, restated, extended or renewed from time to time, this "Note") is made as of the date indicated above and evidences indebtedness of GREYSTONE LOGISTICS, INC., an Oklahoma corporation, and GREYSTONE MANUFACTURING, L.L.C., an Oklahoma limited liability company (collectively, the "Borrowers" and each individually, a "Borrower"), to INTERNATIONAL BANK OF COMMERCE, an Oklahoma state banking corporation (together with any and all of its successors and assigns and/or any other holder of this Note, the "Lender").

CLS Holdings USA, Inc. – Promissory Note (October 12th, 2017)

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 Twenty-Nine Thousand Nine Hundred Ninety-Nine and 50/100 Dollars ($29,999.50), 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").

CLS Holdings USA, Inc. – Promissory Note (October 12th, 2017)

For value received, the undersigned, CLS HOLDINGS USA, INC., a Nevada corporation (the "Maker"), hereby promises to pay to the order of Jeffrey I. Binder (the "Holder"), at 11767 South Dixie Highway, Suite 115, Miami, FL 33156 (or such other place(s) as Holder may designate from time to time), the principal sum of Thirty-Nine Thousand Five Hundred Twenty and 56/100 Dollars ($39,520.56), 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").

New Leap, Inc. – Promissory Note (October 10th, 2017)

For value received and to be received, the undersigned, New Leap, Inc., a Delaware corporation (the "Borrower"), hereby promises to pay to the order of Itzhak Ostashinsky (the "Lender"), upon demand, the principal sum paid by Lender for the benefit of Borrower under this Note up to the date such demand is made.

Griffin Land & Nurseries, Inc. – Promissory Note (October 10th, 2017)

FOR VALUE RECEIVED, the undersigned, Riverbend concord properties i llc, a North Carolina limited liability company ("Borrower"), promises to pay to the order of 40|86 Mortgage Capital, Inc., a Delaware corporation, ("Payee"; Payee and/or any subsequent holder(s) hereof, "Lender"), at Payee's address at 535 North College Drive, Carmel, Indiana 46032 or at such other place as Lender shall designate from time to time in writing, the principal sum of Twelve Million One Hundred Fifty Thousand and No/100 Dollars ($12,150,000.00), together with interest on the unpaid principal balance of such indebtedness from time to time outstanding from the date of disbursement at the rates hereinafter set forth, in lawful money of the United States of America, such principal and interest being due and payable as follows:

Ample-Tee, Inc. – Airborne Wireless Network Promissory Note (October 6th, 2017)

FOR VALUE RECEIVED, Airborne Wireless Network, a Nevada corporation (the "Company"), hereby promises to pay to the order of Lucas Hoppel or registered assigns (the "Holder") the amount set out above as the Original Principal Amount (as reduced pursuant to the terms hereof pursuant to redemption, conversion or otherwise, the "Principal") when due, whether upon the Maturity Date (as defined below), acceleration, redemption or otherwise (in each case in accordance with the terms hereof) and to pay interest ("Interest") on any outstanding Principal at the applicable Interest Rate from the date set out above as the Issuance Date (the "Issuance Date") until the same becomes due and payable, upon the Maturity Date or acceleration, conversion, redemption or otherwise (in each case in accordance with the terms hereof).

Key Link Assets Corp. – Promissory Note (October 5th, 2017)

FOR VALUE RECEIVED, Foothills Exploration, Inc., a Delaware corporation (the "Company"), located at 633 17th Street, Suite 1700, Denver, CO 80202, hereby unconditionally promises to pay to the order of Elliot G. Freier, trustee of the Elliot G. Freier Revocable Trust U/A 9/6/06, located at 1800 Avenue of the Stars, Suite 900, Los Angeles, CA 90067, or its successors or assigns (the "Holder"), the principal amount of Two Hundred Fifty Thousand and 00/100 United States Dollars (USD $250,000.00) on or prior to January 2, 2018 (the "Maturity Date"). This Note evidences a term loan made to the Company on September 22, 2017, in the principal amount of $45,000.00 and an additional term loan made on the date of this Note (as defined below) in the principal amount of $205,000.00.

Xfit Brands, Inc. – Promissory Note (October 5th, 2017)

FOR VALUE RECEIVED, XFit Brands, Inc., a Nevada corporation ("Borrower"), hereby promises to pay to the order of GCP, Inc., a Colorado corporation (hereinafter referred to, together with each subsequent holder hereof, as "Lender"), in lawful money of the United States and in the principal sum of One Hundred Fifty Thousand and no/100 Dollars ($150,000.00), or so much thereof as may be outstanding from time to time, together with all accrued and unpaid interest thereon, in the amounts, at the times, in the manner and subject to the terms and conditions set forth in this Promissory Note (this "Note").

Griffin Capital Essential Asset REIT, Inc. – Promissory Note A-1-1 (October 5th, 2017)

FOR VALUE RECEIVED THE ENTITIES LISTED ON SCHEDULE I HERETO (individually and/or collectively, as the context may require, together with their respective successors and permitted assigns, "Borrower"), each having its principal place of business at c/o Griffin Capital Company, LLC, 1520 E. Grand Avenue, El Segundo, CA 90245, Attention: Javier Bitar, hereby unconditionally promises to pay to the order of BANK OF AMERICA, N.A., a national banking association, having an address at 214 North Tryon Street, NC1-027-15-01, Charlotte, North Carolina 28255 ("Lender"), or at such other place as the holder hereof may from time to time designate in writing, the principal sum of ONE HUNDRED MILLION AND NO/100 DOLLARS ($100,000,000.00), or so much thereof as is advanced, in lawful money of the United States of America, with interest thereon to be computed from the date of this Promissory Note A-1-1 (this "Note") at the Interest Rate, and to be paid in accordance with the terms of this Note an

IVAX Diagnostics, Inc. – Promissory Note (October 4th, 2017)

FOR VALUE RECEIVED, the sufficiency of which is hereby acknowledged, the undersigned, ERBA Diagnostics, Inc., a Delaware corporation ("Maker"), promises to pay to the order of Erba Diagnostics Mannheim GmbH, a company organized under the laws of Germany which is the majority stockholder of Maker ("Holder"), the principal sum of five hundred thousand United States dollars (U.S.$500,000.00) or so much thereof as may be loaned by Holder to Maker (the "Principal"), plus interest (the "Interest") on the Principal from time to time remaining unpaid, calculated at the simple rate of three and one-half percent (3.5%) per annum, and payable as hereinafter set forth. Interest shall be calculated on the basis of a year of three hundred sixty (360) days for the actual number of days elapsed.

KBS Strategic Opportunity REIT II, Inc. – Promissory Note (October 4th, 2017)

FOR VALUE RECEIVED, KBS SOR II Oakland City Center, LLC, a Delaware limited liability company ("Borrower"), hereby promises to pay to the order of Bank of America, N.A., a national banking association ("Lender"), as one of the lenders under that certain Loan Agreement (defined below) (collectively, the "Lenders") by and among Borrower, the lenders from time to time a party thereto, and Bank of America, N.A., a national banking association (together with any and all of its successors and assigns, "Administrative Agent") as administrative agent for the benefit of the lenders (the "Loan Agreement") of even date herewith, without offset, in immediately available funds in lawful money of the United States of America, at the Administrative Agent's Office as defined in the Loan Agreement, the principal sum of ONE HUNDRED THREE MILLION FOUR HUNDRED THOUSAND AND NO/100THS DOLLARS ($103,400,000.00) (or the unpaid balance of all principal advanced against this Note, if that amount is less), toget

Bingham Canyon Corp – CONSOLIDATED PROMISSORY NOTE by and Between Bingham Canyon Corporation and Francis J. Read (October 4th, 2017)

PRINCIPAL AMOUNT: $275,000 USD - Consolidated Total of All Loans 1.Loan of June 13, 2016 - $25,000 ($0 balance due to incorporate into this note) by and between Francis J. Read and Bingham Canyon Corporation's wholly-owned operating subsidiary, Paradigm Convergence Technologies Corp. 2.Loan of August 25, 2017 - $50,000 3.Loan of August 31,2017 - $200,000

American Jianye Greentech Holdings, Ltd. – Promissory Note (October 3rd, 2017)

FOR VALUE RECEIVED, the undersigned, Sino United Worldwide Consolidated Ltd. a Nevada Corporation,or its successors and assigns (the "Maker"), unconditionally promises to pay to the order of Tee Keat Ong, or its successors and assigns (the "Holder"), the principal sum of Fifty Thousand Dollars ($50,000) with interest at the rate of five percent (5%) per annum and, in addition thereto, as specified herein.

American Jianye Greentech Holdings, Ltd. – Promissory Note (October 3rd, 2017)

FOR VALUE RECEIVED, the undersigned, Sino United Worldwide Consolidated Ltd. a Nevada Corporation,or its successors and assigns (the "Maker"), unconditionally promises to pay to the order of Shoou Chyn Kan, or its successors and assigns (the "Holder"), the principal sum of Sixty-Five Thousand Dollars ($65,000) with interest at the rate of five percent (5%) per annum and, in addition thereto, as specified herein.

Art's-Way Manufacturing Co., Inc. – Promissory Note (October 2nd, 2017)

PROMISE TO PAY. Art's-Way Manufacturing Co., Inc. ("Borrower") promises to pay to Bank Midwest ("Lender"), or order, in lawful money of the United States of America, the principal amount of Five Million & 00/100 Dollars ($5,000,000.00) 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.

Bbooth, Inc. – Promissory Note (October 2nd, 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.

Art's-Way Manufacturing Co., Inc. – Promissory Note (October 2nd, 2017)

PROMISE TO PAY. Art's-Way Manufacturing Co., Inc. ("Borrower") promises to pay to Bank Midwest ("Lender"), or order, in lawful money of the United States of America, the principal amount of Six Hundred Thousand & 00/100 Dollars ($600,000.00), together with interest on the unpaid principal balance from September 28, 2017, calculated as described in the "INTEREST CALCULATION METHOD" paragraph using an interest rate of 5.000% per annum based on a year of 360 days, until paid in full. The interest rate may change under the terms and conditions of the "INTEREST AFTER DEFAULT" section.

Art's-Way Manufacturing Co., Inc. – Promissory Note (October 2nd, 2017)

PROMISE TO PAY. Art's-Way Manufacturing Co., Inc. ("Borrower") promises to pay to Bank Midwest ("Lender"), or order, in lawful money of the United States of America, the principal amount of Two Million Six Hundred Thousand & 00/100 Dollars ($2,600,000.00), together with interest on the unpaid principal balance from September 28, 2017, until paid in full.

Bbooth, Inc. – Promissory Note (October 2nd, 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.

Ample-Tee, Inc. – Airborne Wireless Network Promissory Note (September 29th, 2017)

FOR VALUE RECEIVED, Airborne Wireless Network, a Nevada corporation (the "Company"), hereby promises to pay to the order of Black Mountain Equities, Inc. or registered assigns (the "Holder") the amount set out above as the Original Principal Amount (as reduced pursuant to the terms hereof pursuant to redemption, conversion or otherwise, the "Principal") when due, whether upon the Maturity Date (as defined below), acceleration, redemption or otherwise (in each case in accordance with the terms hereof) and to pay interest ("Interest") on any outstanding Principal at the applicable Interest Rate from the date set out above as the Issuance Date (the "Issuance Date") until the same becomes due and payable, upon the Maturity Date or acceleration, conversion, redemption or otherwise (in each case in accordance with the terms hereof).

Great China Mania Holdings, Inc. – Promissory Note (September 28th, 2017)

FOR VALUE RECEIVED, GME Innotainment, Inc., a Florida Corporation (the "Maker") hereby promise to pay to the order of PureSafe Water Systems, Inc. (the "Holder"), a Delaware Corporation, the principal sum of Three Million Dollars ($3,000,000.00).

American Liberty Petroleum Corp. – PROMISSORY NOTE DUE January 15, 2018 (September 26th, 2017)

THIS 30% ORIGINAL ISSUE DISCOUNT SENIOR SECURED CONVERTIBLE PROMISSORY NOTE is one of a series of duly authorized and validly issued 30% Original Issue Discount Senior Secured Convertible Promissory Notes of AVANT DIAGNOSTICS INC., (the "Company"), having its principal place of business at 8561 E Anderson Dr #104, Scottsdale, AZ 85255, and COASTAL INVESTMENT PARTNERS, LLC ("Lender or "Holder") designated as its 30% Original Issue Discount Senior Secured Convertible Promissory Note due January 15th, 2018 (this Note, the "Note" and, collectively with the other Notes of such series, the "Notes") .

Aim Exploration Inc. – Promissory Note (September 26th, 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.

Aim Exploration Inc. – Promissory Note (September 26th, 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.

Bright Mountain Acquisition Corp – Promissory Note (September 25th, 2017)

FOR VALUE RECEIVED, the undersigned, Bright Mountain Media, Inc., a Florida corporation (the Maker), having a business address at 6400 Congress Avenue, Suite 2050, Boca Raton, FL 33487 hereby promises to pay to the order of VINAY BELANI, an individual (the Payee or the Holder) having a business address at 6B/152 15th Floor, SS Nagar, Sion East, Mumbai 400037, Maharashtra, India the principal amount of Eighty Thousand dollars ($80,000.00) on September 19, 2018 (the "Maturity Date"). All terms not otherwise defined herein shall have the same meaning as in the Agreement. This Promissory Note is one of a series of notes issued pursuant to the terms and conditions of that certain Amended and Restated Membership Interest Purchase Agreement dated September 19, 2017 by and among the Maker, Daily Engage Media Group LLC and the Members of Daily Engage Media Group LLC.

Bright Mountain Acquisition Corp – Promissory Note (September 25th, 2017)

FOR VALUE RECEIVED, the undersigned, Bright Mountain Media, Inc., a Florida corporation (the Maker), having a business address at 6400 Congress Avenue, Suite 2050, Boca Raton, FL 33487 hereby promises to pay to the order of ANGELOS TRINTAFILLOU, an individual (the Payee or the Holder) having a business address at 102 Mountainside Terrace, Clifton, NJ 07013 the principal amount of One Hundred Thousand dollars ($100,000.00) on September 19, 2018 (the "Maturity Date"). All terms not otherwise defined herein shall have the same meaning as in the Agreement. This Promissory Note is one of a series of notes issued pursuant to the terms and conditions of that certain Amended and Restated Membership Interest Purchase Agreement dated September 19, 2017 by and among the Maker, Daily Engage Media Group LLC and the Members of Daily Engage Media Group LLC.

TWO RIVERS WATER & FARMING Co – Two Rivers Water & Farming Company Promissory Note (September 25th, 2017)

FOR VALUE RECEIVED, Two Rivers Water & Farming Company, a Colorado corporation (the "Company"), hereby promises to pay to the order of Black Mountain Equities Inc. or registered assigns (the "Holder") the amount set out above as the Original Principal Amount (together with any other Outstanding Balance, as defined below) upon the Maturity Date (as defined below) in accordance with the terms hereof, which amount includes interest deemed to be accrued on the Original Principal Amount as set forth herein.

Bright Mountain Acquisition Corp – Promissory Note (September 25th, 2017)

FOR VALUE RECEIVED, the undersigned, Bright Mountain Media, Inc., a Florida corporation (the Maker), having a business address at 6400 Congress Avenue, Suite 2050, Boca Raton, FL 33487 hereby promises to pay to the order of GEORGE G. REZITIS, an individual (the Payee or the Holder) having a business address at 90 West First Street, Clifton, NJ 07011 the principal amount of One Hundred Thousand dollars ($100,000.00) on September 19, 2018 (the "Maturity Date"). All terms not otherwise defined herein shall have the same meaning as in the Agreement. This Promissory Note is one of a series of notes issued pursuant to the terms and conditions of that certain Amended and Restated Membership Interest Purchase Agreement dated September 19, 2017 by and among the Maker, Daily Engage Media Group LLC and the Members of Daily Engage Media Group LLC.

Bright Mountain Acquisition Corp – Promissory Note (September 25th, 2017)

FOR VALUE RECEIVED, the undersigned, Bright Mountain Media, Inc., a Florida corporation (the Maker), having a business address at 6400 Congress Avenue, Suite 2050, Boca Raton, FL 33487 hereby promises to pay to the order of HARRY PAGOULATOS, an individual (the Payee or the Holder) having a business address at 20 Rena Lane, Bloomfield, NJ 07003 the principal amount of One Hundred Thousand dollars ($100,000.00) on September 19, 2018 (the "Maturity Date"). All terms not otherwise defined herein shall have the same meaning as in the Agreement. This Promissory Note is one of a series of notes issued pursuant to the terms and conditions of that certain Amended and Restated Membership Interest Purchase Agreement dated September 19, 2017 by and among the Maker, Daily Engage Media Group LLC and the Members of Daily Engage Media Group LLC.