Form Of Fixed Rate Serial Note

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ONLY FOR USE IN MEDIUM TERM GUARANTEE TRANSACTIONS
FORM OF FIXED RATE SERIAL NOTE
[BORROWER]
1
PROMISSORY NOTE
Number____ of ______ Notes
For U.S. DOLLARS $[Amount in Numbers: Fractional
Amount], plus interest.
MATURITY DATE [Date: This date sho uld represent the
due date of one installment only].
FOR VALUE RECEIVED, [name and address of the Borrower] (the “Maker”) by this
promissory note (this “Note”) hereby unconditionally promises to pay on the Maturity Date to the
order of [Lender] (the “Lender”) at [name and address of a banking institution in United States
that is authorized to accept deposits] the full principal sum of _________________ United States
Dollars [and ______ cents] (US$__________) and to pay interest on the principal hereof from
time to time outstanding, as hereinafter provided, at the rate of ________ percent (___ %) per
annum.
This promissory note is one of a series of [total number of Notes in letters] promissory
notes numbered 1 to [number of highest numbered Note in numbers] inclusive, in the aggregate
principal amount of
_________________ United States Dollars [and ______ cents]
(US$__________) and maturing semiannually in the order in which numbered from [first due
date] to [last due date].
Interest on this Note is due and payable on _________________ __ and ____________ __
of each year (each, a “Payment Date”), beginning on _____________ __, ____. Interest will be
calculated on the basis of the actual number of days elapsed (including the first day, but excluding
2
the last day) over a year of 360 days.
[In the event that any amount of the principal hereof or accrued interest on this Note is not
paid in full when due (whether at stated maturity, by acceleration or otherwise), the Maker shall
pay to the Lender on demand interest on such unpaid amount (to the extent permitted by
applicable law) for the period from the date such amount was due until such amount shall have
3
been paid in full at an interest rate per annum equal to [the Lender to specify rate].]
1
Do not consolidate or otherwise move around the paragraphs in this Note. Specific provisions of this Note are
identified in the Agreement by the paragraphs in which such provisions appear.
2
If the relevant Ex-Im Bank Approval provides for a day count basis of actual/365 days or 30/360 days instead of
actual/360 days (as permitted by Section 10.03 of the Agreement), modify this reference.
3
The Lender has the option to either delete this paragraph or to provide alternative language.
1
Ex-Im Bank Form of Fixed Rate Serial Note (10/01)

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