Form 8.1 Promissory Term Note PROMISSORY TERM NOTE $^ Date: ^, 19^
FOR VALUE RECEIVED, the undersigned promises to pay on ^, 19^ to ^ABC INC. (herein called "^ABC"), a corporation incorporated in Illinois, at the office of ABC at ^, Illinois, the principal sum of ^ DOLLARS ($^). The unpaid principal amount hereof from time to time outstanding shall bear interest at a rate per annum equal to the sum of ^% plus the Prime Rate (as hereinafter defined) from time to time in effect. Accrued interest shall be payable on the first business day of ^ of each year and at maturity, beginning with the first business day of October, 19^. The term "Prime Rate" shall mean, as of any point in time, the rate of interest then most recently announced by ^ Bank as its prime rate; and the applicable interest rate under this Note shall change simultaneously with each change in the Prime Rate. Interest shall be computed for the actual number of days elapsed on the basis of a year consisting of 365, or when appropriate 366, days. This Note may be prepaid at any time in whole or in part without premium or penalty; provided that the amount of any prepayment shall be applied first to unpaid and accrued interest and second to principal. Payments of both principal and interest are to be made in lawful money of the United States of America in immediately available funds. This Note is made under and governed by the internal laws of the State of Illinois. ^XYZ Inc. Address: ^ Title: ^ By: