PROMISSORY NOTE BY CORPORATION: Form used by an authorized agent
of a corporation as a promise to pay a debt in bi-weekly installments
FOR VALUE RECEIVED, the undersigned, _________[corporation], whose address
is _________, and _________[corporation], registered to do business in
_________[state], whose principal place of business is _________[address], by and
through their agent, _________, as Makers, promise to pay, without set off, deduction or
counterclaim of any kind or nature to _________, whose address is _________, as Payee,
or Holder, at the address of Payee or Holder listed in this Note, the sum of $_________.
The principal sum is to be paid in lawful Australian currency in the following manner:
Payment shall be made in _________ successive bi-weekly installments of
$_________, with the _________[number] installment being in the amount of
$_________. The first payment shall be made on _________ [date] and the final
payment shall be on _________ [date]. All payments shall be in the form of a cashier’s
This Note may be paid in full without penalty.
Installments not paid within _________ days after they are due shall be subject to, and
it is agreed that Payee or Holder shall collect, a “late charge” in the amount of _________
percent of the delinquent bi-weekly payment on each delinquent installment.
In the event that any payment is not made within _________ days after the due date,
the entire remaining unpaid balance shall become immediately due and payable at the
option of Payee or Holder, without notice, time being of the essence, and the sum shall
bear interest from such time until paid at the highest rate allowable under the laws of the
State of _________. Failure of Payee or Holder to exercise this option shall not constitute
a waiver of the right to exercise the same in the event of any subsequent default.
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