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Bank Promissory Note
"I need a Bank Promissory Note for a secured corporate loan of SGD 2 million with quarterly interest payments, maturing on March 15, 2025, with my company's commercial property as collateral."
1. Promise to Pay: Unconditional promise to pay a specific sum, including the full amount and currency
2. Payment Details: Specification of payment terms including amount, currency, and specific payment date or schedule
3. Maker Information: Complete identification and details of the party making the promise to pay, including registration/identification numbers
4. Payee Information: Complete identification and details of the party to whom payment is to be made (typically the bank)
5. Place of Payment: Specific location or manner in which payment is to be made
1. Interest Rate Provisions: Terms relating to interest payments, including rate, calculation method, and payment frequency
2. Security Provisions: Details of any collateral or security provided to support the promissory note
3. Default Provisions: Terms specifying events of default and consequences of default in payment
4. Acceleration Clause: Provisions allowing the entire amount to become due upon specified trigger events
1. Payment Schedule: Detailed breakdown of installment payments including dates and amounts
2. Security Details Schedule: Comprehensive description of any security or collateral provided
3. Guarantor Information Schedule: Details of any guarantors including their full identification and extent of guarantee
4. Interest Calculation Schedule: Detailed methodology for interest calculation if applicable
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