Renewed Note

Company Letterhead

{{company_name}}

{{company_address}}

Phone: {{phone}}

Email: {{email}}

Website: {{website}}

RENEWED PROMISSORY NOTE

FOR VALUE RECEIVED, {{borrower_company_name}} (hereinafter referred to as "Borrower"), located at {{borrower_address}}, hereby promises to pay to the order of {{lender_company_name}} (hereinafter referred to as "Lender"), located at {{lender_address}} The Principal Sum of {{currency}} {{amount}} ({{amount_in_words}}), plus interest as specified below.

Original Note Details

This Renewed Promissory Note replaces and supersedes the original Promissory Note dated {{original_note_date}}, with an original principal amount of {{currency}} {{original_amount}}, executed between the same parties.

Terms of Renewal

The Borrower acknowledges an outstanding principal balance of {{currency}} {{outstanding_principal}} as of {{renewal_date}}.

The parties hereby agree to renew the aforementioned Promissory Note under the following revised terms:

1. **New Maturity Date:** The entire unpaid principal amount of this Note, together with all accrued and unpaid interest thereon, shall be due and payable in full on or before {{new_maturity_date}}.

2. **Interest Rate:** Interest shall accrue on the outstanding principal balance at a rate of {{interest_rate}}% per annum, calculated on a {{interest_calculation_basis}} basis.

3. **Payment Schedule:** Payments shall be made in {{number_of_payments}} installments of {{currency}} {{installment_amount}} each, commencing on {{first_payment_date}} and continuing on the {{payment_frequency}} of each subsequent {{payment_period}} until the New Maturity Date, when the final payment will be due.

4. **Late Payment Fee:** Any payment not received within {{grace_period}} business days of its due date shall incur a late fee of {{currency}} {{late_fee_amount}}.

Covenants of Borrower

The Borrower hereby covenants and agrees that for so long as any portion of the principal or interest of this Renewed Promissory Note remains outstanding:

1. **Financial Information:** The Borrower shall provide the Lender with such financial information as the Lender may reasonably request from time to time.

2. **Maintenance of Good Standing:** The Borrower shall maintain its corporate existence and good standing in its jurisdiction of incorporation.

3. **Compliance with Laws:** The Borrower shall comply with all applicable laws, rules, and regulations.

Events of Default

The occurrence of any of the following shall constitute an “Event of Default” under this Renewed Promissory Note:

1. Failure to pay any principal or interest payment when due.

2. Any representation or warranty made by the Borrower proving to be false or misleading in any material respect.

3. Bankruptcy or insolvency of the Borrower.

Upon the occurrence of an Event of Default, the Lender may, at its option, declare the entire unpaid principal balance of this Note, together with all accrued and unpaid interest thereon, immediately due and payable without notice or demand.

Governing Law and Jurisdiction

This Renewed Promissory Note shall be governed by and construed in accordance with the laws of {{governing_jurisdiction}}. Any dispute arising out of or in connection with this Note shall be subject to the exclusive jurisdiction of the courts of {{jurisdiction_for_disputes}}.

Miscellaneous

1. **Waiver:** No waiver of any provision of this Note shall be effective unless in writing and signed by the Lender.

2. **Severability:** If any provision of this Note is held to be invalid or unenforceable, the remaining provisions shall continue in full force and effect.

3. **Entire Agreement:** This Renewed Promissory Note constitutes the entire agreement between the Borrower and the Lender with respect to the subject matter hereof and supersedes all prior agreements, understandings, and negotiations, whether written or oral.

Signature Block

IN WITNESS WHEREOF, the Borrower has executed this Renewed Promissory Note as of the date first written above.

_____________________________

{{borrower_company_name}}

By: _________________________

Name: {{borrower_signatory_name}}

Title: {{borrower_signatory_title}}

_____________________________

{{lender_company_name}}

By: _________________________

Name: {{lender_signatory_name}}

Title: {{lender_signatory_title}}

Witnessed By:

_____________________________

Name: {{witness_name}}

ID Number: {{witness_id_number}}