Sample Promissory Note Template printable pdf download

SLS SAMPLE DOCUMENT 07/11/17

PROMISSORY NOTE

U.S. $ _______________

Date: _____________

Borrower:

Name

Company or entity, if any

Address

Client:

Name

Company or entity, if any

Address

FOR VALUE RECEIVED, the undersigned _______________ (“Borrower”) promises to pay on

_____ (the “Maturity Date”) to _______________ (“Client”) the principal sum of $_______________.

Payment Schedule. Borrower shall repay this Note in ___ consecutive monthly payments of

$_______________, payable on the [first] [last] day of each month. Borrower shall make the first

payment on _____ and shall make the final payment on the Maturity Date. Borrower shall make such

payments to Client [by check to the order of Client, to an address specified by Client] [via PayPal to an

account specified by Client].

Interest. This Note shall bear interest at the annual rate of ____%, calculated on the basis of a

365-day year for the actual number of days for which interest is calculated.

Prepayments. Borrower may prepay all or a portion of the principal amount of this Note together

with accrued interest at any time without penalty.

Overdue Payments. Any overdue payments or unpaid portions of such payments under this

Note shall bear interest, payable on demand, at an annual rate of ___%, until repaid by Borrower;

provided, however, that the aggregate rate of interest shall not exceed the maximum permissible interest

rate under applicable law.

Default. If Borrower fails to make a payment when due, and does not pay within _____ days

after written notice of this failure, the entire unpaid balance of this Note, together with accrued interest,

shall at the option of Client become immediately due and payable in full.

Waiver. Borrower waives diligence, presentment, protest, demand and notice of any kind.

Amendments. This Note may be modified only by a writing which expressly refers to this Note

and is signed by both Borrower and Client.

Governing Law. This Note shall be governed by the laws of the State of California.

Note: This document does not reflect or constitute legal advice. This is a sample made available by the Organizations and

Transactions Clinic at Stanford Law School on the basis set out at nonprofitdocuments.law.stanford.edu. Your use of this document

does not create an attorney-client relationship with the Clinic or any of its lawyers or students.

Sample Promissory Note Template