“The document evidencing the debt obligations of the Borrower (Issuer) to the Lender (Investor). A promissory note typically contains all terms pertaining to the indebtedness by the Issuer or maker to the note’s payee, such as the amount, interest rate, penalty rates, maturity date, date and place of issuance, and Issuer’s signature. Promissory Notes are typically associated with Loan and Security Agreements that provide much greater detail relating to the obligations of the borrower (Issuer). See “Private Lending Term Sheet: Typical Investment Terms and Conditions.” Pertains to debt.”
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by bsmith@carofin.com | Mar 8, 2019
