#COMMERCIAL LOAN CREDIT MEMO TEMPLATE FULL#

A party may change its address for notification purposes by giving the other parties notice in accordance with the terms of this Section 6(b) of the new address and the date mail, return receipt requested, by hand, or by overnight courier, addressed to the parties hereto at their addresses set forth above or such addresses as they may from time-to-time designateīy written notice, given in accordance with the terms of this Section. Given in writing and sent, by registered or certified U.S.

(b) Any and all notices, demands or requests required or permitted to be given under this Note shall be (a) This Note may not be amended or modified, and revision hereto shall not be effective, except by an instrument in writing executed by Parties hereto irrevocably consents to such venue and/or jurisdiction. The exclusive venue and/or jurisdiction for any proceeding that may be brought in connection with this Note shall be any federal and state court located in Seminole County, Florida and each of the Statues, laws and decisions of the State of Florida. This Note shall be governed and controlled as to validity, enforcement, interpretation, construction, effect and in all other respects, including, but not limited to, the legality of the interest charged hereunder, by the Percent (18.0%) per annum until paid in full. On the Maturity Date, if this Note has not been paid in full, it shall bear interest from inception at the rate of eighteen At any time, and from time to time before the Maturityĭate, Maker shall have the right to prepay all or any part of the Advances, in whole or in part, without premium or penalty.

#COMMERCIAL LOAN CREDIT MEMO TEMPLATE FULL#

The entire unpaid Advances under this Note shall be due and payable in full on the Maturity Date. Nothing contained in this Note or any other agreement or instrument shall be deemed or construed toĬonstitute a guaranty or undertaking by any shareholder, officer or director of the Maker or any third person of any of the obligations of the Maker under this Note.Ĥ. and/or any United States national stock exchange.ģ.

Securities and Exchange Commission, the National Association of Securities Dealers, Inc. Printing costs, and filing fees payable to the U.S. Under this Note shall be used by the Maker solely to pay fees and expenses to be incurred by the Maker in connection with the IPO, including without limitation, fees and expenses payable to the underwriters, legal and accounting fees and expenses, All proceeds received by the Maker from each Advance made by the Lender The Lender shall not be under any obligation to makeĢ. Advances). Each such Advance shall be reflected on Schedule A to this Note and initialed as received by an officer or director of the Maker. Prior to the Maturity Date to request loans and advances from the Lender (individually an Advance and collectively, the Subject to the provisions of Section 2 below, the Maker shall have the right, at any time or from time to time Shall be the earlier to occur of (a) the date of closing of an initial public offering of securities of the Maker (the IPO), or (b) December 31, 2011 (the Maturity Date).ġ. The entire outstanding principal amount of this Note shall be due and payable on a date that Unless modified by paragraph 4 of this Note.

This Note shall bear interest at the rate of five percent (5.00%) per annum Lender may designate in writing, in lawful money of the United States of America, the principal sum of up to Two Hundred Thousand Dollars ($200,000.00), or such lesser amount as may be borrowed by the Maker as Advances under this line of credit GEOTAG INC., a Delaware corporation (the Maker), having an office at 555 Republic Drive Suite 200, Plano TX 75074 does hereby promise to pay to the order of PENNIN INVESTORS LTD.

Commercial loan credit memo template