This promissory note with acceleration clause template has 2 pages and is a MS Word file type listed under our finance & accounting documents.
Sample of our promissory note with acceleration clause template:
PROMISSORY NOTE - WITH ACCELERATION CLAUSE This Promissory Note with Acceleration Clause (the "Note") is made and effective the [DATE], BETWEEN: [YOUR COMPANY NAME] (the "Maker"), a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] AND: [PAYEE NAME] (the "Payee"), an individual with his main address located at OR a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] TERMS FOR VALUE RECEIVED, Maker jointly and severally promises to pay, in lawful money of [COUNTRY], to the order of Payee at [address], [amount] in installments as follows: [amount of payment] on [date], and [number] successive payments of [amount] beginning on [date of payment] together with a delinquency charge on each installment in default for days in an amount equal to percent of such installment but not less than [AMOUNT]. In the event of default in the payment of any of the said installments or said interest when due as herein provided, time being of the essence hereof, the Payee of this note may, without notice or demand, declare the entire principal sum then unpaid immediately due and payable. Payee may, with or without notice to any of us, cause additional parties to be added hereto, or release any party hereto, or revise, extend, or renew the note, or extend the time for making any installment provided for herein, or accept any installment in advance, all without affecting the liability of us, or any of us, hereon. If suit be commenced on said note, the parties hereto jointly and severally agree to pay to the Payee of said note a reasonable attorney fee. The borrower agrees to pay a reasonable collection charge should collection be referred to a collection agency or to the payee's collection facilities.
