Promissory Note Extension: Definition, Example
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Quick Facts — Promissory Note Extension Lawyers
- Avg cost to draft a Promissory Note Agreement: $710.00
- Avg cost to review a Promissory Note Agreement: $390.00
- Lawyers available: 185 financial lawyers
- Clients helped: 278 recent promissory note extension projects
- Avg lawyer rating: 4.97 (31 reviews)
What is a Promissory Note Extension?
A promissory note extension is a legal document allowing an extension on the borrower’s period in paying back a loan. For example, if a borrower has problems paying back their loan, or if the lender is asking for less time to repay it, the borrower can request an extension of their promissory notes.
A promissory note extension will involve renegotiating the terms and conditions of the original contract with the bank so that both parties are satisfied with the outcome. The borrower may need to provide additional financial information about yourself or your business, depending on what type of debt you have. If approved by the lender, this arrangement will allow the borrower to continue using the lender’s funds until they've been repaid.
Promissory Note Templates
Promissory Note Extension Sample
EXTENSION OF MATURITY DATE FOR
PROMISSORY NOTE
This Extension of Maturity Date for Promissory Note (the “Extension”) dated February 19, 2015, is entered into by and between CareView-Saline, LLC, a Wisconsin limited liability company (“Maker”) and Rockwell Holdings I, LLC (“Holder”) (collectively known as the “Parties”).
WHEREAS, the pursuant to a certain Master Investment Agreement entered into by the Parties on November 16, 2009, Maker issued to Holder a Promissory Note in the principal amount of $109,230with respect to the Project (as defined in the Master Investment Agreement) for the Saline Memorial Hospital,
WHEREAS, the Promissory Note has a maturity date of three years from the date payments commenced thereunder, which would make the maturity date of the Promissory Note August 30, 2013,
WHEREAS, the maturity date of the Promissory Note was subsequently extended to December 31, 2013, then to June 30, 2014, and then to June 30, 2015,
WHEREAS, the Parties have mutually agreed to extend the maturity date to June 30, 2016,
NOW, THEREFORE, in consideration of the mutual covenants hereinafter set forth, the Parties hereby enter into this Extension as follows:
1. Extension of Maturity Date for Promissory Note: The Parties agree to extend the maturity date of the Promissory Note to June 30, 2016 (the “Extended Maturity Date”).
2. Other Provisions of the Promissory Note: The Parties agree that all other provisions of the Promissory Note will remain in full force and effect other than the Extended Maturity Date.
IN WITNESS WHEREOF, the Parties hereto have executed this Agreement as of the day and year first above written.
| CAREVIEW-SALINE, LLC | ROCKWELL HOLDINGS I, LLC | |||
| By: | /s/ Steve Johnson | By: | /s/ Matt Bluhm | |
| Steve Johnson | Matt Bluhm | |||
| Manager | Managing Member | |||
Reference:
Security Exchange Commission - Edgar Database, EX-10.143 5 ex10-143.htm EXTENSION OF MATURITY DATE - SALINE, Viewed January 27, 2022, View Source on SEC.
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Ivan B.
I grew up in Beaumont, Texas. I attended Baylor University for college and the The University of Texas School of Law for law school. I gained extensive experience in many areas of transactional law through my former position as corporate counsel at National Western Life Insurance Company and my current position as an Associate at Nance & Simpson, LLP.
"Ivan is an excellent attorney, very meticulous, thorough, and incredibly fast. He pays close attention to every detail and makes sure everything is done right. I really appreciate his efficiency and professionalism. Highly recommend."
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Legal services cost too much, and are often of low quality. I have devoted my law practice to providing the best work at the most affordable price—in everything from defending small businesses against patent trolls to advising multinational corporations on regulatory compliance to steering couples through a divorce.
"Briana was responsive and quick to put the draft together. It has been a pleasure working with her!"
Bryan R.
Bryan R.
Bryan J. Reddix is an experienced attorney and contracts management professional with over a decade of expertise navigating complex commercial and government contracting. Serving as both internal General Counsel and a senior Contracts Director, Bryan specializes in drafting, negotiating, and risk-mitigating a wide spectrum of agreements across the technology, federal procurement, and small business sectors. His deep familiarity with the Federal Acquisition Regulation (FAR/DFARS), corporate compliance, and intellectual property allows him to provide holistic, strategic legal guidance that protects business interests while driving profitability.
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Colorado Springs attorney and entrepreneur dedicated to democratizing access to high quality legal solutions through the transformative power of Artificial Intelligence.
"Great service. Did exactly what he said he would do. I am very satisfied. Straight and to the point service."
Forest H.
Forest Hamilton is the founder of ContractsCounsel Law. He is a business and transactional attorney whose practice centers on the contracts companies and entrepreneurs rely on every day. He drafts, reviews, and negotiates operating agreements, asset and membership-interest purchase agreements, master services and supply agreements, NDAs, employment and contractor agreements, and commercial leases. Forest has handled many acquisitions of online businesses, including Amazon FBA brands, Shopify stores, and YouTube channels. He also advises on business formation, capital raising, commercial real estate, oil and gas matters, and estate planning. His clients range from first-time founders to established companies and investors across the U.S. and abroad. On every matter, Forest aims for a clear, practical document that protects the client’s position without creating friction in the deal. He began his career in commercial litigation in Florida and has advised businesses from Nashville since 2005. He is licensed in Tennessee, Florida, and Texas.
"Forrest had been very helpful to work with in several areas."
Connie C.
Connie Chadwick presently focuses her law practice in Tennessee on flat fee legal services which commonly include family court settlements such as divorces, child support orders, custody agreements; contracts; business formation services; and estate plans. Connie is also a Tennessee licensed residential general contractor with over fifteen years of experience in the construction field. With both legal and construction experience, Connie is a logical choice for contractor disputes. Connie earned her Doctorate of Jurisprudence from The Nashville School of Law after earning her Bachelor of Science in Accounting and Finance from Lipscomb University. www.conniechadwicklaw.com Connie Chadwick is recognized by peers and was selected to SuperLawyers Rising Stars for 2017 - 2023. This selection is based off of an evaluation of 12 indicators including peer recognition and professional achievement in legal practice. Being selected to Rising Stars is limited to a small number of attorneys in each state. As one of the few attorneys to garner the distinction of Rising Stars, Connie Chadwick has earned the respect of peers as one of the top-rated attorneys in the nation.
"Connie was a pleasure to work with and provided thorough legal advice that I was able to make actionable decisions on. Thank you Connie!!"
June 14, 2023
James S.
Education Jim Schroeder holds multiple degrees from several institutions. He received his Juris Doctor from Rutgers School of Law in Camden New Jersey. He also earned two additional Master’s Degrees from Asbury Theological Seminary in Wilmore, Kentucky and United Theological Seminary in Dayton, Ohio. In addition, Schroeder has done graduate work in Public Sector Labor Relations and American History at Rutgers University and Nonprofit Leadership at Duke University. Jim Schroeder was admitted to the New Jersey Bar Association in 2008; the District of Columbia Bar Association in 2010; the New York State Bar Association in 2014; and the Ohio Bar Association in 2020. He is also admitted to the Federal Courts of Southern New Jersey and Southern Ohio.
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Set up loan contract / promissory note on a personal loan with equity in property as collateral
Location: New Jersey
Turnaround: A week
Service: Drafting
Doc Type: Promissory Note Agreement
Number of Bids: 3
Bid Range: $700 - $1,800
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