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

 

 

Government of the United States of America

 

By

 

 

By

 

Date

 

Date