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Appendix 3 - Figure 5

 

Promissory Note

For Value Received, the Government of ____________________ (“Borrower”) hereby promises to pay to the Government of the United States of America (“Lender”) such sums as may be advanced by the DSCA hereunder. The Lender shall not be obliged to advance more than ________________ dollars (US $_______________).

The principal amount advanced under this Note shall be repaid in ________ installments of $____________ and ________ installment of $____________. The installments shall be due and payable on ____________ and ____________ of each year commencing on ___________, with the final installment due on ___________. A schedule of the principal amounts due is attached hereto.

Advances shall bear interest on the unpaid principal balance outstanding at a rate of __________ percent per annum on ____________ and ____________ of each year commencing on ____________.

Interest shall be calculated on the basis of a year of 365 days and the actual number of days elapsed. The total amount of advances hereunder shall be repaid, with right of prepayment, in accordance with the schedule attached to this Note.

Both principal and interest shall be paid in lawful money of the United States in immediately available funds at the Federal Reserve Bank of New York.

This Note is issued at Washington, D.C., pursuant to the Loan Agreement dated ______________ between the Borrower and the Lender, and is subject to the terms and entitled to the benefits of that Agreement.

 

Government of ________________________
Date: _______________________________
By ______________________________Seal)

Page Updated 03-12-2012