THIS PROMISSORY NOTE (hereinafter referred to as "the Note") is made on ________.
BETWEEN
________, of the following address:
________
(hereinafter referred to as the "Lender" and which expression shall where the context so admits include its successors-in-title and assigns);
AND
________, of the following address:
________
(hereinafter referred to as the "Borrower" and which expression shall where the context so admits include its successors-in-title and assigns).
WHEREAS the Borrower promises to pay the last installment on the loan sum on ________.
In consideration of mutual covenants and promises contained in this Note and the receipt of which is hereby acknowledged, the Parties agree as follows:
1. SCHEDULE OF PAYMENT
The Borrower promises to repay the ₦________ (________) by a fixed installment every week, for a period of ________ (________) weeks. Each installment shall be ₦________.
2. PREPAYMENT
The Borrower reserves the right to repay the note in whole or in part at an earlier date.
3. DEFAULT
The following shall constitute a default or a breach:
(I) the Borrower fails to make the payments under the Agreement as at when due;
(II) if the Borrower becomes insolvent, thereby making the due performance of the Agreement doubtful;
(III) the Borrower fails to duly perform its obligations under this Agreement or other agreements entered into by the Parties;
(IV) the Borrower violates other terms and conditions of this Agreement;
(V) the Borrower breaches any law, regulation, judgment or administrative decision, or any law in the circumstances where the Lender reasonably believes that the breach will affect the Borrower's ability to meet its obligations in this Agreement.
If the Borrower defaults in fulfilling any obligation set forth herein or if an default occurs, the Lender may declare the unpaid and any accrued interest, immediately due and payable.
4. 2585882 2885555885
5) 285588582 282: 5588 8222 85588 82 22825225 525 822825525 82 5882555282 8825 252 8588 22 252 2252558 82258888 22 8822585.
8) 585585 828552585: 5588 8222 525 522 22525 52852222 52225525 22 82 2588 525222222, 82282825228 252 222852 525222222 8228222 252 2552828 525 852258252 522 25825 8582222 25 2558 525222222 2552 8228222 2522.
8) 8555282585: 552 82552825 85588 222 588822 522 22 828 2888252822 25 552828 52525 2588 8222, 8825252 252 25825 8582222 8228222 22 252 222525.
5) 2855585: 552 222525 85588 222 82 522225 22 5582 858825 522 252888822 22 2588 8222 25 252 25258882 22 522 582528 5285 52525 2588 8222 528288 8585 858825 88 2552 252528882 525 82 8582822. 258825 82 222525 22 5 852585 25 882852822 22 522 252888822 22 2588 8222 85588 222 8228282522 5 858825 22 522 22525 8588285222 852585 25 882852822.
2) 8855855: 888 2228828 52525 2588 8222 2582 82 82 8582822. 552 2228828 2582 82 528882525 2258225882 25 258825 82 825282825 2588 22 22525 25522 52 252 5555288 8582222 82 2588 8222 25 2552 2552'8 52225222.
2) 588585588: 82 2552 22 252 8222 85588 82 855825 25 2252825225 528288 8585 855852822 88 525225 525 882225 82 8225 2552828.
g) SEVERABILITY: Every provision in this Note is intended to be severable. If any provision is invalid for any reason whatsoever, such invalidity shall not affect the validity of other clauses in this Agreement.
h) COUNTERPARTS: This Note may be executed in several counterparts, all of which constitutes a single agreement between the Parties.
i) MISCELLANEOUS: This Note shall inure to the benefit of and be binding on respective successors and permitted assigns of Lender and Borrower. In event that any of the provisions of this Note are held to be invalid or unenforceable in whole or in part, the remaining provisions shall not be affected and shall continue to be valid and enforceable as though the valid or unenforceable parts had not been included in this Note.
IN WITNESS WHEREOF, the Parties have executed this Note this day and year first written above.
SIGNED by the Lender
_____________________
________
in the presence of:
Name................................................................................................................
Address.............................................................................................................
Occupation........................................................................................................
Signature..........................................................................................................
SIGNED by the Borrower
_____________________
________
in the presence of:
Name................................................................................................................
Address.............................................................................................................
Occupation........................................................................................................
Signature..........................................................................................................
THIS PROMISSORY NOTE (hereinafter referred to as "the Note") is made on ________.
BETWEEN
________, of the following address:
________
(hereinafter referred to as the "Lender" and which expression shall where the context so admits include its successors-in-title and assigns);
AND
________, of the following address:
________
(hereinafter referred to as the "Borrower" and which expression shall where the context so admits include its successors-in-title and assigns).
WHEREAS the Borrower promises to pay the last installment on the loan sum on ________.
In consideration of mutual covenants and promises contained in this Note and the receipt of which is hereby acknowledged, the Parties agree as follows:
1. SCHEDULE OF PAYMENT
The Borrower promises to repay the ₦________ (________) by a fixed installment every week, for a period of ________ (________) weeks. Each installment shall be ₦________.
2. PREPAYMENT
The Borrower reserves the right to repay the note in whole or in part at an earlier date.
3. DEFAULT
The following shall constitute a default or a breach:
(I) the Borrower fails to make the payments under the Agreement as at when due;
(II) if the Borrower becomes insolvent, thereby making the due performance of the Agreement doubtful;
(III) the Borrower fails to duly perform its obligations under this Agreement or other agreements entered into by the Parties;
(IV) the Borrower violates other terms and conditions of this Agreement;
(V) the Borrower breaches any law, regulation, judgment or administrative decision, or any law in the circumstances where the Lender reasonably believes that the breach will affect the Borrower's ability to meet its obligations in this Agreement.
If the Borrower defaults in fulfilling any obligation set forth herein or if an default occurs, the Lender may declare the unpaid and any accrued interest, immediately due and payable.
4. 2585882 2885555885
5) 285588582 282: 5588 8222 85588 82 22825225 525 822825525 82 5882555282 8825 252 8588 22 252 2252558 82258888 22 8822585.
8) 585585 828552585: 5588 8222 525 522 22525 52852222 52225525 22 82 2588 525222222, 82282825228 252 222852 525222222 8228222 252 2552828 525 852258252 522 25825 8582222 25 2558 525222222 2552 8228222 2522.
8) 8555282585: 552 82552825 85588 222 588822 522 22 828 2888252822 25 552828 52525 2588 8222, 8825252 252 25825 8582222 8228222 22 252 222525.
5) 2855585: 552 222525 85588 222 82 522225 22 5582 858825 522 252888822 22 2588 8222 25 252 25258882 22 522 582528 5285 52525 2588 8222 528288 8585 858825 88 2552 252528882 525 82 8582822. 258825 82 222525 22 5 852585 25 882852822 22 522 252888822 22 2588 8222 85588 222 8228282522 5 858825 22 522 22525 8588285222 852585 25 882852822.
2) 8855855: 888 2228828 52525 2588 8222 2582 82 82 8582822. 552 2228828 2582 82 528882525 2258225882 25 258825 82 825282825 2588 22 22525 25522 52 252 5555288 8582222 82 2588 8222 25 2552 2552'8 52225222.
2) 588585588: 82 2552 22 252 8222 85588 82 855825 25 2252825225 528288 8585 855852822 88 525225 525 882225 82 8225 2552828.
g) SEVERABILITY: Every provision in this Note is intended to be severable. If any provision is invalid for any reason whatsoever, such invalidity shall not affect the validity of other clauses in this Agreement.
h) COUNTERPARTS: This Note may be executed in several counterparts, all of which constitutes a single agreement between the Parties.
i) MISCELLANEOUS: This Note shall inure to the benefit of and be binding on respective successors and permitted assigns of Lender and Borrower. In event that any of the provisions of this Note are held to be invalid or unenforceable in whole or in part, the remaining provisions shall not be affected and shall continue to be valid and enforceable as though the valid or unenforceable parts had not been included in this Note.
IN WITNESS WHEREOF, the Parties have executed this Note this day and year first written above.
SIGNED by the Lender
_____________________
________
in the presence of:
Name................................................................................................................
Address.............................................................................................................
Occupation........................................................................................................
Signature..........................................................................................................
SIGNED by the Borrower
_____________________
________
in the presence of:
Name................................................................................................................
Address.............................................................................................................
Occupation........................................................................................................
Signature..........................................................................................................
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