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1. Date and Place of Execution: Specifies the date and location where the promissory note is executed, which is crucial for determining jurisdiction and limitation period
2. Parties: Identifies the maker (borrower) and the payee (lender) with their full legal names, addresses, and other identification details
3. Unconditional Promise to Pay: Clear statement of promise to pay the principal sum along with interest, as required by the Negotiable Instruments Act
4. Facility Amount: States the maximum aggregate amount that can be drawn under the multiple advance facility
5. Interest Rate: Specifies the rate of interest, calculation method, and payment frequency
6. Drawdown Mechanism: Details the process for requesting and receiving multiple advances under the facility
7. Repayment Terms: Specifies the repayment schedule, including due dates and installment amounts
8. Events of Default: Lists circumstances that would constitute default and trigger immediate repayment
9. Signature and Stamp: Space for execution of the document with proper stamp duty as per Indian Stamp Act
1. Security Details: Include when the promissory note is secured by any collateral or guarantee
2. Co-borrower Details: Include when there are multiple borrowers jointly executing the promissory note
3. Prepayment Terms: Include when early repayment is allowed, specifying any prepayment penalties or notices required
4. Cross Default: Include when the borrower has other facilities with the lender and default in one should trigger default in this facility
5. Purpose of Facility: Include when the advances are restricted to specific purposes or uses
6. Representations and Warranties: Include for corporate borrowers or high-value facilities to ensure borrower's legal capacity and authority
1. Schedule I - Drawdown Schedule: Table showing dates and amounts of advances already drawn and available for drawing
2. Schedule II - Repayment Schedule: Detailed amortization schedule showing principal and interest payments
3. Schedule III - Security Details: If applicable, detailed description of any security or collateral provided
4. Appendix A - Drawdown Request Form: Standard format for requesting advances under the facility
5. Appendix B - Calculation of Interest: Detailed methodology for interest calculation including examples
Aggregate Facility Limit
Available Facility
Business Day
Drawdown
Drawdown Date
Drawdown Notice
Drawdown Period
Default Interest Rate
Default Event
Due Date
Facility
Interest Payment Date
Interest Period
Interest Rate
Lender
Maker
Material Adverse Effect
Maturity Date
Outstanding Amount
Payee
Payment Date
Prepayment
Principal Amount
Repayment Date
Repayment Schedule
Security
Stamp Duty
Unutilized Facility
Working Day
Facility Terms
Drawdown Provisions
Interest
Repayment
Security
Representations and Warranties
Events of Default
Acceleration
Notice Requirements
Assignment
Amendment
Governing Law
Jurisdiction
Force Majeure
Severability
Indemnification
Stamp Duty Compliance
Further Assurance
Counterparts
Banking and Financial Services
Manufacturing
Real Estate and Construction
Trading and Distribution
Information Technology
Healthcare
Agriculture
Infrastructure
Retail
Education
Logistics and Transportation
Legal
Finance
Treasury
Credit
Risk Management
Compliance
Corporate Finance
Banking Operations
Business Development
Corporate Secretarial
Chief Financial Officer
Finance Manager
Treasury Manager
Credit Manager
Loan Officer
Legal Counsel
Compliance Officer
Risk Manager
Corporate Finance Manager
Financial Controller
Banking Relationship Manager
Credit Analyst
Company Secretary
Business Development Manager
Finance Director
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