Renewed Note

Company Letterhead

{{company_name}}

{{company_address}}

Phone: {{phone}}

Email: {{email}}

Website: {{website}}

RENEWED PROMISSORY NOTE

**FOR VALUE RECEIVED, THE UNDERSIGNED:**

**Borrower:** {{borrower_company_name}}, a company duly incorporated and existing under the laws of {{borrower_jurisdiction}}, with its registered office at {{borrower_address}}, represented herein by {{borrower_representative_name}} (hereinafter referred to as "the Borrower").

**IN FAVOUR OF:**

**Lender:** {{lender_company_name}}, a company duly incorporated and existing under the laws of {{lender_jurisdiction}}, with its registered office at {{lender_address}}, represented herein by {{lender_representative_name}} (hereinafter referred to as "the Lender").

Hereby acknowledge the renewal of the Promissory Note originally executed on {{original_note_date}} (hereinafter referred to as "the Original Note").

Preamble and Background

WHEREAS, the Borrower executed and delivered the Original Note to the Lender in the principal amount of {{original_principal_amount}} ({{original_principal_amount_words}}) on {{original_note_date}}.

WHEREAS, the Original Note matured or is due to mature on {{original_maturity_date}}.

WHEREAS, the Borrower and Lender mutually desire to renew and extend the terms of the Original Note, subject to the terms and conditions set forth herein.

Renewal and Extension of Term

Subject to the terms and conditions contained herein, the Lender hereby agrees to renew and extend the due date for payment of the outstanding principal balance of the Original Note, which is {{current_outstanding_principal_amount}} ({{current_outstanding_principal_amount_words}}), together with any accrued and unpaid interest, to a new maturity date of {{new_maturity_date}} (hereinafter referred to as "the Extended Maturity Date").

Interest Rate

The outstanding principal amount shall continue to bear interest at the rate of {{interest_rate_percent}}% per annum, calculated on a {{interest_calculation_basis}} basis. Interest shall be payable {{interest_payment_frequency}} commencing on {{first_interest_payment_date}}.

Payment Schedule

The Borrower shall repay the outstanding principal amount and accrued interest as follows:

{{payment_schedule_details}}

Defaults and Remedies

Any event of default as defined in the Original Note shall remain in full force and effect. In addition, the failure to make any payment when due under this Renewed Note shall constitute an event of default. Upon any such event of default, the Lender shall have all rights and remedies available at law or in equity, including, but not limited to, those set forth in the Original Note.

Representations and Warranties

The Borrower hereby re-affirms all representations and warranties made in the Original Note and further represents and warrants that there has been no material adverse change in its financial condition since the date of the Original Note that would affect its ability to repay this Renewed Note.

Governing Law and Jurisdiction

This Renewed Note shall be governed by and construed in accordance with the laws of {{governing_law_jurisdiction}} without regard to its conflict of laws principles. Any dispute arising out of or in connection with this Renewed Note shall be subject to the exclusive jurisdiction of the courts of {{dispute_resolution_jurisdiction}}.

Entire Agreement

This Renewed Note, together with the Original Note, constitutes the entire agreement between the Borrower and the Lender with respect to the subject matter hereof and supersedes all prior discussions, negotiations, and agreements, whether oral or written. No amendment, modification, or waiver of any provision of this Renewed Note shall be effective unless in writing and signed by both parties.

Signatures

IN WITNESS WHEREOF, the parties have executed this Renewed Promissory Note on this {{day}} day of {{month}}, {{year}}.

**FOR THE BORROWER:**

_____________________________

Name: {{borrower_representative_name}}

Title: {{borrower_representative_title}}

{{borrower_company_name}}

**FOR THE LENDER:**

_____________________________

Name: {{lender_representative_name}}

Title: {{lender_representative_title}}

{{lender_company_name}}