Promissory Note
(DIP Credit Agreement)


Summary

This promissory note template is an instrument signed by a debtor-borrower pursuant to which the borrower makes an unconditional promise to repay the amount of a loan being made by a lender. This template includes practical guidance and drafting notes. The terms included in a promissory note generally track the terms that were agreed upon in the DIP loan agreement. A promissory note should comply with the requirements of the Uniform Commercial Code and, in certain jurisdictions, must also be notarized. For more information, see DIP Financing, DIP Terms, and DIP Loans and Documentation. For a template DIP credit agreement, see Revolving Credit (and Guaranty) Agreement (Debtor in Possession Financing). To track key terms contained in DIP financing credit agreements, see DIP Financing Key Terms Tracker. For a full listing of content relating to promissory notes for use in various practice areas, see Promissory Notes Resource Kit (Small to Mid-Sized Law).