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Promissory Note Deed

Promissory Note Deed Template for Ireland

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Key Requirements PROMPT example:

Promissory Note Deed

"I need a Promissory Note Deed under Irish law for a €500,000 business loan from my company to a supplier, with quarterly interest payments and full principal repayment due by March 2025."

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Document background
A Promissory Note Deed is utilized when there is a need to formally document a promise to pay a specific sum of money under Irish law. This instrument is commonly employed in various scenarios including business loans, real estate transactions, corporate financing, and personal lending arrangements. The document typically includes essential details such as the principal amount, interest rate, payment schedule, and consequences of default. As a deed, it provides additional legal certainty and a longer limitation period compared to simple contracts. The Promissory Note Deed must comply with Irish legal requirements, particularly the Bills of Exchange Act 1882 and the Stamp Duties Consolidation Act 1999, and can be either secured or unsecured depending on the arrangement between parties.
Suggested Sections

1. Date and Parties: Identifies the date of execution and the parties: the maker (promisor) and the payee (promisee), including their full legal names and addresses

2. Definitions and Interpretation: Defines key terms used in the document and establishes interpretation rules

3. Promise to Pay: The unconditional promise to pay a specific sum of money, stating the principal amount in both words and figures

4. Payment Terms: Specifies when and how payments are to be made, including interest rate, payment dates, and method of payment

5. Events of Default: Defines circumstances that constitute default and trigger acceleration of the payment obligation

6. Enforcement: Details the payee's rights and remedies in case of default

7. Notices: Specifies how and where formal notices between parties should be delivered

8. Governing Law and Jurisdiction: Confirms Irish law as governing law and specifies jurisdiction for disputes

Optional Sections

1. Security Provisions: Include when the note is secured by specific assets or collateral

2. Guarantor Provisions: Required when a third party is guaranteeing the payment obligations

3. Prepayment Terms: Include when early payment is permitted, specifying any conditions or penalties

4. Transfer and Assignment: Include when the note needs to be transferable or when assignment restrictions are required

5. Tax Provisions: Include when specific tax implications need to be addressed

6. Force Majeure: Optional clause addressing circumstances beyond parties' control affecting payment obligations

Suggested Schedules

1. Payment Schedule: Detailed schedule of payment dates, amounts, and allocation between principal and interest

2. Security Details: Description and details of any assets or collateral securing the note

3. Calculation of Interest: Methodology and examples of interest calculations if complex interest provisions apply

4. Form of Notice: Template for any formal notices required under the note

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions

























Clauses























Relevant Industries

Banking and Financial Services

Real Estate

Commercial Lending

Private Equity

Construction

Manufacturing

Professional Services

Agriculture

Retail

Technology

Relevant Teams

Legal

Finance

Treasury

Credit Control

Risk Management

Compliance

Corporate Secretarial

Commercial Operations

Accounts Receivable

Relevant Roles

Chief Financial Officer

Finance Director

Treasury Manager

Legal Counsel

Corporate Lawyer

Financial Controller

Credit Manager

Risk Manager

Company Secretary

Commercial Director

Business Development Manager

Accounts Receivable Manager

Debt Collection Officer

Compliance Officer

Industries






Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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