Extension of Promissory Note: Definition, Example
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- Avg cost to draft a Promissory Note Agreement: $710.00
- Avg cost to review a Promissory Note Agreement: $390.00
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What is an Extension Of Promissory Note?
An extension of promissory note is a written modification to an original promise to pay a specified sum of money at a specified date. Different entities will have different needs for these types of agreements, which means there are other formats and criteria that they need to adhere to for them to be considered legally binding.
In some cases, the extension of a promissory note may also function as an extension on the loan. A promissory note is a written promise from one party (the "Maker") promising payment by another party (the "Holder").
Promissory Note Templates
Extension Of Promissory Note Sample
Exhibit 4.11
PROMISSORY NOTE SECOND EXTENSION AGREEMENT
| $100,000.00 | April 30, 2018 |
This Promissory Note Extension Agreement, hereinafter referred to as “Extension Agreement,” entered into this Thirtieth day of April, 2018, by and between DERMAdoctor, LLC, a Missouri entity (“Maker”), and Papillon Partners, Inc., a Missouri corporation, or its successors or assigns (“Holder”),
WHEREAS, Maker and Holder have entered into a Promissory Note date November 9, 2017 for the amount of One Hundred Thousand Dollars ($100,000), hereinafter referred to as the “Note”. The Note is due and payable on a date that is ninety (90) days from the original date of the Note.
WHEREAS, Maker and Holder have entered into an Extension Agreement date February 6, 2018 for the amount of One Hundred Thousand Dollars ($100,000), hereinafter referred to as the “Note”. The Note is due and payable on a date that is one hundred eighty (180) days from the original date of the Note.
WHEREAS, Maker and Holder desire to enter into this Second Extension Agreement in order to extend the date when all the outstanding principal and accrued and unpaid interest is due and payable to two hundred sixty two (262) days from the original date of the Note.
NOW, THEREFORE, it is duly agreed by both Maker and Holder to extend the due date of the Note to July 29, 2018
All other provisions of the original Note shall prevail unless otherwise written.
[Signature page follows]
IN WITNESS WHEREOF, the undersigned Maker and Holder have duly executed this Extension Agreement, extending the due date of the Note as of the day and year first written above.
| MAKER: | ||
| DERMAdoctor, LLC | ||
| By: | /s/ Jeff Kunin | |
| Name: | Jeff Kunin | |
| Title: | Chief Executive Officer | |
| HOLDER: | ||
| PAPILLON PARTNERS, INC. | ||
| By: | /s/ Audrey Kunin | |
| Name: | Audrey Kunin | |
| Title: | President | |
Reference:
Security Exchange Commission - Edgar Database, EX-4.11 18 fs12018ex4-11_derma.htm PROMISSORY NOTE EXTENSION AGREEMENT DATED APRIL 30, 2018 (TO NOVEMBER 2017 NOTE), Viewed February 3, 2022, View Source on SEC.
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Jonathan G.
Small Business Attorney licensed in Texas and Colorado. Based in Dallas, appointments available in DFW area.
"I've enjoyed working with Jonathan and will continue to work with him after this initial step is complete"
Darryl S.
Darryl S.
I offer flat/fixed fees rather than hourly work to help lower your legal costs and align our interests. I specialize in contract law and focus on making sure your contract is clear, protects your interests and meets your needs. You can expect fast, straightforward communication from me, making sure you understand every step. With my experience, you'll get a detailed review of your contract at a fair, fixed price, without any surprises. I have over 30 years of business and legal experience that I bring to your project. I graduated from The University of Texas School of Law with High Honors in 1993 and practiced at Texas' largest law firm. I have founded companies and so understand how to be helpful as both a lawyer and business owner.
"Answered all of my questions promptly - even recommended some good podcasts related to my acquisition. 10/10"
Jane C.
Skilled in the details of complex corporate transactions, I have 15 years experience working with entrepreneurs and businesses to plan and grow for the future. Clients trust me because of the practical guided advice I provide. No deal is too small or complex for me to handle.
"Jane is a joy to work with. She is competent, kind, prompt in her actions and responses, and follows through."
Heather B.
Heather B.
Delivering proactive and strategic guidance to health and fitness professionals and entities as they scale.
"Quick turnaround, had everything I needed and a bit more. Could've used a bit more communication in the beginning to know my circumstance to help draft things I may not be thinking of or missed but all in all it was a great contract for the price."
Bobby H.
Bobby E. Hill, Jr. is a native of Tuscaloosa, Alabama and holds undergraduate degrees in music and business administration from Xavier University of Louisiana. He received his Juris Doctor from the University of Miami School of Law where he was a staff and articles editor for the school’s Race & Social Justice Law Review and a student attorney in the institution’s Immigration Clinic. In addition to freelancing, Bobby is currently a litigation associate at Johnson & Freeman, LLC, a boutique litigation firm in Atlanta, Georgia, where he practices in the firm's Condemnation, Probate, Real Estate Litigation, Real Estate Transactions, E-Discovery and Business and General Civil Litigation Practice areas. In this role, Bobby has acquired appreciable experience in drafting memoranda of law for partners and senior counsel, and all litigation related pleadings including pleadings related to dispositive motions, discovery, appeals, and other post-judgment relief.
"Helpful. Professional. Gave us peace of mind on a business partnership agreement."
Namrita N.
Retired Dentist transitioned to Law, with a special interest in Commercial Real Estate, Startup businesses, Asset Purchase Agreements, and Employment Contracts. I love to help dentists and physicians with legal issues pertaining to licensing, credentialing, employment, and general business-legal questions.
"Dr Notani is a top lawyer. We very much appreciate her attentiveness and expertise."
Jim S.
Jim Slattery most recently served as General Counsel at Regional News Network, a large owner of broadcast television stations. Jim is an experienced attorney with broad-based expertise. He is a seasoned negotiator who has been involved in negotiations as complex as the Olympic Games. Jim spent 18 years as Vice President for Business and Legal Affairs at NBCUniversal. Previously, Jim worked in the media industry in various roles at All American Television. Jim’s success can be attributed to his ability to properly analyze data, manage projects, lead teams, develop creative solutions for complex problems, focus on strategically optimizing assets, manage/allocate risk and collaborate with divergent constituent groups to achieve objectives. Jim received a J.D. and a B.B.A. from the University of Notre Dame.
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Enforceable Promissory Note
Location: Arizona
Turnaround: A week
Service: Drafting
Doc Type: Promissory Note Agreement
Number of Bids: 6
Bid Range: $249 - $1,000
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