Are you looking for a professional Sample Demand Promissory Note with the Bank as Lender? Download this Promissory Note template now!
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DEMAND PROMISSORY NOTE AMOUNT LOCATION OF CLOSING , 20 FOR VALUE RECEIVED, NAME OF BORROWER , a corporation (the “Maker”) promises to pay to the order of NAME OF LENDER , a corporation (the , payable ON WRITTEN DEMAND, together with “Lender”), the principal sum of interest, in arrears, from the date hereof on the unpaid balance from time to time outstanding and on all unpaid installments of interest, whether before or after the maturity of or default under this Note, at a rate equal to greater than the floating rate of interest per annum designated from time to time by the Lender as being its “prime rate” of interest per annum (the “Prime Rate”) .. All provisions of this Note are expressly subject to the condition that in no event, whether by reason of acceleration of maturity of the indebtedness evidenced hereby or otherwise, shall the amount paid or agreed to be paid to the Lender hereunder and deemed interest under applicable law exceed the maximum rate of interest (the “Maximum Allowable Rate”) on the unpaid principal balance of this Note allowed by applicable law, as amended from time to time..
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