Sample Promissory Note Fixed Term No Interest Principal Payable on Maturity Letter

Promissory Note, Fixed Term, No Interest, Principal Payable on Maturity

PROMISSORY NOTE –

 

[Loan Amount]                                                                                 Due: [Maturity Date]

 

For Amount received, the undersigned, [borrower name], the ‘Borrower’, acknowledges itself obliged to [Lender name], the ‘Lender’’, and assures to pay the lender or, as otherwise directed in writing by the Lender, the principal amount of $[loan amount] in legal money of [Currency of the United States of America] without any interest. The entire principal amount shall be paid on [Maturity date].

The Lender may allocate all of its right, title and interest in, to and the promissory note.

All payments to be made hereunder shall be made by the Borrower without any right of set-off or accusation.

 

Dated: [document date]

 

…………………………………………..                  ………………………………………….

Witness                                                                        Seller Name

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