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Promissory Note Term Sheet DRAFT
Confidential -- For Preview Purposes Only
Draft promissory note term sheet template. Outlines principal, interest, repayment schedule, and default provisions.
[COMPANY]
SUMMARY OF PROPOSED TERMS FOR
PROMISSORY NOTE FINANCING
The following is a summary of the basic terms and conditions of a proposed promissory note financing of [COMPANY], having its principal place of business at [ADDRESS] (the “Company”). This term sheet is for discussion purposes only and is not binding on the Company or the Lender (as defined below), nor is the Company or the Lender obligated to consummate the transaction contemplated hereby until definitive agreements have been executed and delivered by the applicable parties.
AGREED AND ACCEPTED:
[COMPANY]
Name: _______________________
Title: _______________________
LENDER
Name:________________________
Title:_________________________
Lender: |
Financing Amount: | The principal amount of the note is $[AMOUNT] (the “Note”).
Use of Proceeds: | The proceeds of the Note shall be used, among other development activities of the Company, to secure that certain license for the technology that the Company seeks to deploy into, among other facilities, the [PROJECT].
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Promissory Note Term Sheet DRAFT
Credit & Loan Agreements -- US - General