Canada Promissory Note for Monthly Payments & Guarantee

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                                   PROMISSORY NOTE

PRINCIPAL: $[principal amount]CANCAD $_________ (the “Principal”)                    DATE: [date]
Address for Payment: ________________

FOR VALUE RECEIVED, ____________________________________ [insert name(s) of                             Formatted: Font: Not Bold, Italic
promissor(s)borrower(s)] [if more than one, add: jointly and severally] promise to pay to               Formatted: Font: Italic
_______________________________ [insert name of holder] (the “Holder”), or order, at the                Formatted: Font: Not Bold, Italic
City of [city], in the [State/Province] of [state/province],above noted address for payment, in         Formatted: Font: Italic
lawful money of Canada, the Principal, together with interest thereon or so much thereof as shall
from time to time remain unpaid at the rate of [INTEREST RATE] (___%) PER CENT per
annum, as well after as before maturity and both before and after default.

The Borrower(s) shall repay the amount secured hereunder , by way of monthly instalments (the
“Instalments”), commencing the _____ day of ______________, _______ and continuing
thereafter on the ____ day of each and every month in each and every year thereafter until the
earlier of [due date] and the date that this Promissory Note is paid in full, each of the Instalments
to be in the minimum amount of [minimum amount].

 In the event that any Instalments are not paid, in whole or in part, within thirty (30) days of the
date when such Instalment is due, then, at the option of the Holder hereof, the entire outstanding
amount of the Principal shall become wholly due and payable UPON DEMAND.

The Promissor(s)Borrower(s) shall have the privilege of pre-paying the remaining amount, or
any part ofor parts, of the Principal without notice, bonus or penalty at any time and from time to

PRESENTATION of this Note for Payment and Notice of Protest or DishonourDishonour is
hereby waived.

DATED at _______________,in the Province of ____________ effective the ___ day of
___________, ______.

[NAME OF BORROWER]Signature of Borrower

Print Name


City   Province   Postal Code


                                                           Formatted: Line spacing: single, Hyphenate,
                                                           Tab stops: Not at -0.5"

The undersigned, _________________________________ [insert name of guarantor], here
Description: Are you loaning money to a person or a company in Canada? Secure your interest as a creditor with this Promissory Note and Guarantee. - The borrower agrees to pay the secured amount by monthly payments (not necessarily equal payments). - The Note includes a guarantee of payment by a guarantor. - The guarantor also agrees to ensure that the creditor receives a monthly installment payment equal to a specified percentage of the guarantor's net revenue. This Canada Promissory Note for Monthly Payments and Guarantee form is available as a downloadable and fully customizable MS Word file.
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