Joint and Several promissory note
FOR VALUE RECEIVED, the undersigned jointly and severally promise to pay to the order of __________________________ HOLDER the sum of Rs. ___________ with interest thereon at the rate of..............% per annum. The said sum shall be payable as follows:
The undersigned shall have the right to prepay any part of the principal sum owing at any time without penalty. In the event that any payment due under this note is not made when due the entire balance shall be immediately due and payable at the option of any holder of this note. In the event of default, the undersigned agree to pay all solicitors fees and costs of collection. Each maker, surety, guarantor or endorser of this note hereby waives presentation for acceptance, notice of dishonour, protest and notice of protest, and further agrees to all extensions, renewals or release, discharge or exchange of any other party or collateral, without notice.