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: 180 financial lawyers
- Clients helped: 269 recent promissory note extension projects
- Avg lawyer rating: 4.98 (28 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.
Who Helps With Promissory Note Extensions?
Lawyers with backgrounds working on promissory note extensions work with clients to help. Do you need help with a promissory note extension?
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Meet some of our Promissory Note Extension Lawyers
Stephen R.
Steve Reich is licensed to practice in both New York and Massachusetts and is based in Boston. He assists with environmental litigation and other complex litigation and heads the firm's intellectual property practice, including copyright and trademark registration and protection. Other practice areas include commercial contract drafting and civil litigation.
"Stephen was responsive, clear, and candid. He turned the work around quickly, welcomed my input, and offered honest, practical advice throughout. I would gladly hire him again."
Justin A.
I am a lawyer who helps small businesses, nonprofits, and startups with a wide variety of agreements, corporate formation, and corporate governance. I earned my BA from Tulane University and my JD from the University of Chicago Law School. Before starting my own practice, I worked at an international law firm in New York City. Outside of work, I am on the board of the nonprofit Seattle REconomy (which runs the NE Seattle and Shoreline tool libraries) and I enjoy gardening, baking bread, and outdoor activities with my spouse and two dogs.
"Justin provided excellent, expedient service and made sure my needs were met satisfactorily."
Dolan W.
You need a lawyer who's more than just knowledgeable – you need someone who's on your side. That's where I come in. I'll be there every step of the way, offering clear communication and proactive solutions. Whether you're starting a business or navigating a complex legal matter, I'll help you make informed decisions and achieve your goals. I also have drafted many templates to save you money. Just use this link - https://www.contractscounsel.com/client/lawyer-profile/3764#Templates Why Choose Me? I put you first I'm proactive I'm efficient I'm accessible
"Dolan was awesome to work with. He was thorough, responsive, and explained everything clearly. I truly appreciate all the time and care he put into helping me finalize my agreement. I highly recommend him!"
Heather B.
Heather B.
Delivering proactive and strategic guidance to health and fitness professionals and entities as they scale.
"Heather reviewed and redlined the client services agreement for my automation consultancy, including a CCPA service-provider addendum and an AI systems addendum, plus California auto-renewal requirements. Two things stood out. When I pushed back on her redline and reworked a clause myself, she engaged with the reasoning rather than defending her own draft, and where I had spotted a real conflict between an indemnity provision and a liability cap she confirmed it and told me exactly how to fix it. Second, she did not stop at the paperwork. She flagged that the contract allocation was helpful but that an operational pre-launch check would be the stronger protection, which is the kind of thing you only get from someone thinking about whether you actually stay out of trouble rather than whether the document is defensible. Clear, specific, and worth it."
William B.
Attorney based in Southern California (for in-person matters), taking clients globally/remotely for CA-specific and Federal legals needs. Owner and operator of Alchemist Attorney, Inc. (www.alchemistattorney.com).
"Will contributed insightful and precisely explained revisions for technical software licensing terms and I'm very satisfied with the result."
September 4, 2024
Jonathan W.
Jonathan Wright offers 30+ years of legal and business expertise to clients seeking a trusted advisor. His experience as a CEO and General Counsel for tech, healthcare, and biotech companies enables him to provide seasoned guidance on complex contracts, strategic agreements, and business transactions. Whether you're starting a company, navigating financings, or handling day-to-day corporate legal needs, Jonathan offers valuable insights and support.
September 10, 2024
Antonio P.
At Pishvai Law, Tony's attention to detail and deep community roots define his practice. A lifelong Fort Wayne native, Tony returned home after attending law school in Atlanta, Georgia, emphasizing his commitment to serving his community firsthand. As a solo practitioner, Tony offers a level of personalized service and dedication unmatched by larger firms. With a focus on tailored solutions and individualized attention, Tony ensures that each client receives the care they deserve. Whether you're facing a complex legal matter or seeking guidance, Tony is dedicated to providing the support and expertise you need to navigate your case with confidence.
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Browse Lawyers NowLawyer Reviews for Promissory Note Extension Projects
Promissory Note Review
"Great to work with Michael - very professional and easy to work with. Highly recommend."
ContractsCounsel User
Secure Promissory Note for loans provided to Comet Skateboards, Inc
"Great work! (I do not want my review to be public)"
ContractsCounsel User
Review Promissory Note
"I had an excellent experience working with Allen to review my promissory note. Allen was professional, thorough, and took the time to clearly explain the terms, risks, and implications in a way that was easy to understand. I appreciated his attention to detail and responsiveness throughout the process. His guidance gave me confidence and peace of mind before moving forward. I would highly recommend his service to anyone needing careful and knowledgeable legal review."
ContractsCounsel User
Quick, user friendly and one of the better ways I've come across to get ahold of lawyers willing to take new clients.
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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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