What is the borrowers promise to pay?

BORROWER’S PROMISE TO PAY. In return for a loan I have received, I promise to pay Fifty Thousand dollars and no/100th U.S. ($50,000.00), known as “principal”, plus interest, to the order of the Lender. The Lender is [CDFI]. I understand that the Lender may transfer this Note. The Lender or anyone who takes this Note by transfer and who is entitled to receive payments under this Note is called the “Note Holder”.

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BORROWER’S PROMISE TO PAY. For value received, the Borrower promises to pay to the order of Lender, its successors, participants or assigns, the principal amount of FOUR MILLION DOLLARS ($4,000,000.00) (the “Principal”) hereunder, plus interest (the “Interest”) on the Principal as set forth herein.

Sample 1

BORROWER’S PROMISE TO PAY. In return for value received, the undersigned, jointly and severally, promise to pay to the order of FOUR SEASONS LAKESITES, INC. (the “Lender”) U.S. interest. Dollars ($ ) (the “principal”), plus

Sample 1

BORROWER’S PROMISE TO PAY. FOR VALUE RECEIVED, Borrower promises to pay to the order of Lender at its offices set forth above the principal sum of Thirty Million Five Hundred Thousand and No/100 Dollars ($30,500,000.00), or so much thereof as shall have been disbursed hereunder in accordance with the disbursement schedule attached hereto as Schedule 1, with interest on the unpaid balance (“Balance”) at the rate of five and thirty-three hundredths percent (5.33%) per annum (“Note Rate”) from and including the date of the first disbursement of Loan proceeds under this Note (“Funding Date”) until and including Maturity (defined below). The undisbursed portion if the Loan shall be disbursed pursuant to the disbursement schedule attached hereto as Schedule 1, and, provided that no Event of Default has occurred (or if Lender has accepted cure of such Event of Default by specific written statement from Lender to Borrower acknowledging Lender’s acceptance of such cure, and Borrower specifically understands and agrees that Lender shall have no obligation whatsoever to accept the cure of any Event of Default), Lender shall disburse the remaining amounts set forth in Schedule 1 in the amounts and on the dates set forth in Schedule 1. Capitalized terms used without definition shall have the meanings ascribed to them in the Instrument.

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BORROWER’S PROMISE TO PAY. I will pay to Lender on time principal and interest due under the Note and any prepayment and late charges due under the Note.

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BORROWER’S PROMISE TO PAY. In return for a loan that Borrower has received, Borrower promises to pay U.S. «123» (this amount is called “Principal”), plus interest, to the order of the Lender. The Lender is «7» «13». Borrower will make all payments under this Note in the form of cash, check or money order.Borrower understands that the Lender may transfer this Note. The Lender or anyone who takes this Note by transfer and who is entitled to receive payments under this Note is also called the “Lender.”

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BORROWER’S PROMISE TO PAY. For value received and intending to be legally bound hereby Borrower, promises to pay to Lender, or order, the principal sum of AMOUNT

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BORROWER’S PROMISE TO PAY. In return for a loan that I have received, I promise to pay U.S. $ (this amount is called

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BORROWER’S PROMISE TO PAY. In return for the loan advances ---------------------------- described herein, Borrower promises to pay to the order of Lender the sum of Four Hundred Eighty-Two Thousand and no/100 Dollars (U.S. $482,000.00), hereafter referred to as the "principal", plus interest thereon at the rate set forth below.

Sample 1

BORROWER’S PROMISE TO PAY. This is an extension of credit as defined by Section 50(a)(6), Article XVI of the Texas Constitution (the “Extension of Credit”). In return for the Extension of Credit that I have received evidenced by this Note, I promise to pay U.S. $ (this amount is called “Principal”), plus interest, to the order of Lender. Lender is. I will make all payments under this Note in the form of cash, check or money order.

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While they are always legally enforceable, the different types of promissory notes have a few key differences. The type you’ll need depends on what’s being borrowed.

Informal Or Personal Promissory Note

Also known as personal promissory notes, these are typically between one friend or family member to another. This is a written guarantee that the money borrowed will be returned but does not always detail the purpose of the loan.

Commercial Promissory Note

A commercial promissory note is more formal and gives specific conditions of the loan. They’re used when borrowing money from a commercial lender such as a bank, credit union, or loan agency. They often require borrowers to repay the loan with interest, and the lender has a lien on the assets owned by the borrower until the payment is received.

For example, if you were to take out an auto loan from your bank, the bank would have a lien on your car until you repay the loan.

Real Estate Promissory Note

When writing a home loan or other real estate purchase, you would use a real estate promissory note. The home or real estate will be the collateral for this promissory note, and if the borrower defaults on their payments, the lender can place a lien on the property.

Investment Promissory Note

A company can issue a promissory note to raise capital. These promissory notes are unique because they can be sold to other investors. These can often be a substitute for a business loan.

Investment promissory notes reduce the risk of investing in a business by ensuring that the investors receive their return on investment over a specified period. If the borrower doesn’t pay back the money, the investor may legally take ownership of the company.

Car Promissory Note

A car promissory note is an agreement where a borrower promises to make payments in exchange for a vehicle. It typically has even terms throughout the loan, but often also includes a lump sum down payment at the beginning of the loan term. It also should include information about the make and model of the vehicle.

Student Promissory Note

You’ll typically see this type of promissory note for undergraduate and graduate loans, and they are unique because they often defer interest from accruing on your loans until after you graduate.

Additionally, the start date is often flexible and undetermined until you graduate. You might see a clause in a student promissory note that says that payments are not due until 6 months after leaving school, or other contingencies based on your education.

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