A promissory note
is a legal instrument (more particularly, a financial instrument), in which one party (the maker or issuer) promises in writing to pay a determinate sum of money to the other (the payee), either at a fixed or determinable future time or on demand of the payee, under specific terms. If the promissory note is unconditional and readily salable, it is called a negotiable instrument.
Referred to as a note payable in accounting (as distinguished from accounts payable), or commonly as just a "note", it is internationally defined by the Convention providing a uniform law for bills of exchange and promissory notes, although regional variations exist. A banknote is frequently referred to as a promissory note: a promissory note made by a bank and payable to bearer on demand. Mortgage notes are another prominent example.
Promissory notes are a common financial instrument in many jurisdictions, employed principally for short time financing of companies. Often, the seller or provider of a service is not paid upfront by the buyer (usually, another company), but within a period of time, the length of which has been agreed upon by both the seller and the buyer. The reasons for this may vary; historically, many companies used to balance their books and execute payments and debts at the end of each week or tax month; any product bought before that time would be paid only then. Depending on the jurisdiction, this deferred payment period can be regulated by law; in countries like France, Italy or Spain, it usually ranges between 30 to 90 days after the purchase.
High-denomination currency (i.e., banknotes with a negotiable face value of $500 or higher) had been used in the United States since the late 18th century. The first $500 note was issued by the Province of North Carolina, authorized by legislation dated May 10, 1780.Virginia quickly followed suit and authorized the printing of $500 and $1,000 notes on October 16, 1780 and $2,000 notes on May 7, 1781. High-denomination notes were also issued during the War of 1812 ($1,000 notes authorized by an act dated June 30, 1812), as well as the American Civil War Confederate currency ($500 and $1,000). During the Federal banknote issuing period (1861 to present), the earliest high-denomination notes included three-year Interest-bearing notes of $500, $1,000, and $5,000, authorized by Congress on March 2, 1861. In total, 11 different types of U.S. currency were issued in high-denomination notes across nearly 20 different series dates.
The obverse of United States banknotes generally depict either historical figures, allegorical figures symbolizing significant concepts (e.g., liberty, justice), or a combination of both. The reverse designs range from abstract scroll-work with ornate denomination identifiers to reproductions of historical art works.
A convertible security is a security that can be converted into another security. Convertible securities may be convertible bonds or preferred stocks that pay regular interest and can be converted into shares of common stock (sometimes conditioned on the stock price appreciating to a predetermined level). Warrants are equity convertible securities. They give the owner the option to buy newly issued shares at a determined exercise price and date. Equity capital notes are similar to warrants, except that there is no exercise price.
Tablets can be classified according to the presence and physical appearance of keyboards. Slates and booklets do not have a physical keyboard and typically feature text input performed through the use of a virtual keyboard projected on a touchscreen-enabled display. Hybrids, convertibles and 2-in-1s do have physical keyboards (although concealable or detachable), yet they typically also make use of virtual keyboards.
Convertibility is the quality that allows money or other financial instruments to be converted into other liquidstores of value. Convertibility is an important factor in international trade, where instruments valued in different currencies must be exchanged.
Freely convertible currencies have immediate value on the foreign exchange market, and few restrictions on the manner and amount that can be traded for another currency. Free convertibility is a major feature of a hard currency.
Some countries pass laws restricting the legal exchange rates of their currencies, or requiring permits to exchange more than a certain amount. Some currencies, such as the North Korean won, the Transnistrian ruble and the Cuban national peso, are officially nonconvertible and can only be exchanged on the black market. If an official exchange rate is set, its value on the black market is often lower.
Convertibility controls may be introduced as part of an overall monetary policy. For example, restrictions on the Argentine peso were introduced during an economic crisis in the 1990s, and scrapped in 2002 during a subsequent crisis.
Informed sources told Al-Seyassah daily that the GeneralTraffic Department pays great attention to the importance of converting all its services electronically, noting that it is working on the possibility of adding the services of transferring vehicle ownership and renewing its ...
In early 2023, KembleWater Holdings issued £515m of convertible loan notes to its shareholders, translating into £500m after fees, and this money was then “cascaded” through various parts of the group before eventually ending up with Thames WaterUtilitiesLimited – the ...
On that same day, the Company held an earnings call wherein Defendants disclosed that the delay in reporting was due to having a “highly complex quarter” including “very complex accounting along with convertible notes and accounting for derivative” and “things like raw material ...
Based on this, he advised that investors to buy MicroStrategy stock with Bitcoin ... With the volume of BTC that MicroStrategy owns, the current market situation places the firm in an impressive position with profit enough to cover the senior convertible notes debt it has accrued as some of its BTC assets were purchased with the credit ... ....
On that same day, the Company held an earnings call wherein Defendants disclosed that the delay in reporting was due to having a "highly complex quarter" including "very complex accounting along with convertible notes and accounting for derivative" and "things like raw material ...
Closes $200 Million Term Loan Credit Facility and Refinances Portion of 2025 Convertible Notes. Nevro also announced the closing of a 6-year, $200 million term loan credit facility, the proceeds of which will be used to repurchase the majority of its 2025 Convertible Notes and for working capital and other general corporate purposes.
However, Flood suggests that repaying the 2025 note might be unnecessary. Explaining the mechanics of the 2025 and 2027 convertible notes, Flood highlights the conditions under which debt holders can opt for conversion ... “The implications of the 2025 note converting are significant,” Flood states ... Broadly they have applauded Saylor ... .
As partial consideration for the Proposed Amendments, the holders of the warrants have agreed not to exercise certain adjustment provisions they hold in connection with the US$51 million principal amount of 8.99% senior secured convertible notes due February 2028 (the “ Notes ”).
NEW YORK, Dec ... (Nasdaq ... Seelos intends to use the net proceeds from the offering for general corporate purposes, the advancement of the development of its product candidates and to make periodic principal and interest payments under, or to repay a portion of, its outstanding convertible promissory note issued in�November 2021, as amended. � ... � ... (Nasdaq.
Balances will be converted to FDUSD at 1.1... Binance encouraged clients to withdraw or convert their BUSD holdings into other assets before the aforementioned deadline. It is worth noting that users are allowed to trade their BUSD balances for FDUSD at zero trading fees.
Cazoo also announces that its exchange offer, in which Cazoo is offering to exchange $630 million aggregate principal amount of its 2.00% ConvertibleSenior Notes due 2027 (the “Convertible Notes”) for a pro rata portion of (1) $200 million aggregate principal amount of ...
Conna noted the city's Greenhouse Gas Emissions Inventory that said emissions at city-owned buildings dropped 16% from 2009 to 2019 ... He and other committee members noted a big challenge the city faces when it comes to converting existing residential and commercial buildings from fossil fuel heating and cooling systems to full electrification.