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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 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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Faryal A.
Ms. Ayub is an attorney licensed to practice in Texas. Before moving to the US, she has a number of years of experience in contract review, analysis and drafting. Ms. Ayub is available to help you with your legal problems, as well as filling LLC and other business entity formation documents. To know more about her practice, please visit https://ayublawfirmpllc.com/.
Michael O.
A corporate and commercial attorney with experience in transactional legal services including corporate and finance transactions, mergers and acquisitions, real estate, commercial contracts, bankruptcy, restructuring, international business transactions and general counsel services. Additional background skills and experience include investment banking, financial analysis, and commercial litigation. Sectors covered include technology, media, franchises, and business services providers, from start-ups to medium and large enterprises.
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.
Casey B.
I have a Juris Doctorate degree from Mercer Law School, and I am an active member of the Georgia State Bar Association. I have spent the last eight years reviewing, drafting, editing, and negotiating hundreds of contracts on a monthly basis, working in-house for a Fortune 500 company. I am a results-driven, self-motivated, experienced contracts attorney with exceptional drafting, research and communication abilities.
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Kchris G.
My name is Kchris Griffin. I am an licensed attorney practicing Family and Civil Law in Oklahoma. My goal is to help those in need with receiving efficient and effective legal services.
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Drew M.
Drew Melville is a Florida and Massachusetts-licensed attorney with fourteen years' experience in real estate transactions, title insurance and land use. His practice includes all aspects of commercial real estate acquisitions, dispositions, financing, joint venture formation, leasing and land use approvals. Mr. Melville is a title agent for Old Republic National Title Insurance Company, First American Title Insurance Company, and Stewart Title Guaranty Company. Mr. Melville's practice is national in scope, and he brings a creative and solution-oriented approach to his clients' diverse array of real estate investment and development activities in all real estate asset classes. These often include urban infill, adaptive reuse, affordable and workforce housing, historic preservation, sustainable building, brownfield or gray-field redevelopment and opportunity zones. Prior to starting his own firm, he was an in house counsel for the real estate development subsidiary of a large, diversified land and agribusiness company. To date, Mr. Melville has closed over $1.2 billion in commercial real estate transactions.
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Hao L.
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Location: District of Columbia
Turnaround: Less than a week
Service: Drafting
Doc Type: Promissory Note Agreement
Number of Bids: 4
Bid Range: $285 - $495
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