Promissory Note With Acceleration Clause

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{{company_name}}

{{company_address}}

Phone: {{phone}}

Email: {{email}}

Website: {{website}}

PROMISSORY NOTE WITH ACCELERATION CLAUSE

Principal Amount: {{principal_amount}}

Date: {{note_date}}

FOR VALUE RECEIVED, {{borrower_name}} (hereinafter “Borrower”), located at {{borrower_address}}, promises to pay to the order of {{lender_name}} (hereinafter “Lender”), located at {{lender_address}}, the principal sum of {{principal_amount}}, together with interest at the rate of {{interest_rate}}% per annum, computed {{interest_calculation_method}}.

Repayment Terms

The principal sum and accrued interest shall be repayable in {{number_of_payments}} equal installments of {{installment_amount}} each, commencing on {{first_payment_date}} and continuing on the {{payment_day_of_month}} day of each successive {{payment_frequency}} thereafter until the entire principal and interest are paid in full. All payments shall be made in {{currency}}.

Acceleration Clause

Upon the occurrence of any of the following events of default (hereinafter “Events of Default”), the entire unpaid principal balance of this Note and all accrued interest thereon shall, at the option of the Lender, become immediately due and payable without presentment, demand, protest, or further notice of any kind:

a. Failure of the Borrower to make any payment of principal or interest when due under this Note.

b. Any Insolvency Event of the Borrower, including but not limited to, the filing of a petition in bankruptcy, insolvency, or similar proceeding by or against the Borrower, or the assignment for the benefit of creditors.

c. Breach by the Borrower of any other covenant, agreement, or obligation under this Note or any other agreement between the Borrower and the Lender.

d. Any representation or warranty made by the Borrower in connection with this Note proving to be false or misleading in any material respect.

Interest on Default

Upon the occurrence of an Event of Default, interest shall accrue on the outstanding principal balance at a default rate of {{default_interest_rate}}% per annum, calculated from the date of default until the outstanding balance, including all accrued interest, is paid in full.

Prepayment

The Borrower shall have the right to prepay this Note, in whole or in part, at any time without penalty or premium.

Governing Law

This Promissory Note shall be governed by and construed in accordance with the laws of {{governing_law_jurisdiction}}.

Waiver

No waiver by the Lender of any default shall be effective unless in writing, nor shall any such waiver operate as a waiver of any other default or of the same default on a future occasion.

Amendments

This Note may not be amended or modified except by a written instrument signed by both the Borrower and the Lender.

Notices

Any notice required or permitted to be given under this Note shall be in writing and shall be deemed to have been duly given when delivered personally or sent by certified or registered mail, return receipt requested, to the addresses first set forth above, or to such other addresses as the parties may designate in writing from time to time.

Signature Block

IN WITNESS WHEREOF, the parties have executed this Promissory Note as of the date first above written.

___________________________

{{borrower_name}}

Borrower

___________________________

{{lender_name}}

Lender

___________________________

Witness Name: {{witness_name}}

Witness Signature: