A sample of an acceleration clause in a promissory note would be: "the failure to pay any installment when due shall mature the entire indebtedness at the option of the holder of this Note." A sample of a prepayment clause in a promissory note would be: "the undersigned may prepay the principal amount outstanding in whole or in part without penalty."
Arkansas Letter Tendering Full Payment of Existing Balance of Promissory Note Due to Acceleration or Prepayment of Note: This letter template is designed to assist individuals or organizations in Arkansas who wish to tender full payment of their existing promissory note balance due to acceleration or prepayment. By utilizing this letter, you can provide a detailed description of the payment process while including the necessary relevant keywords to ensure clarity and compliance with Arkansas state regulations. [Your Name] [Your Address] [City, State, ZIP Code] [Date] [Recipient’s Name] [Recipient’s Address] [City, State, ZIP Code] Subject: Full Payment of Existing Balance of Promissory Note Due to Acceleration or Prepayment Dear [Recipient's Name], I hope this letter finds you well. As per the terms and conditions of the promissory note dated [Note Date], I am writing to tender full payment of the existing balance due to acceleration or prepayment. Please be advised that the purpose of this correspondence is to fulfill my obligations under the aforementioned promissory note and settle the outstanding balance promptly. I have carefully reviewed the terms outlined in the note, and according to Section [Note Section Number: Acceleration/Prepayment], I have the right to accelerate the repayment schedule and make full payment at any time. To ensure a smooth payment process, I would appreciate your prompt attention to the following details: 1. Name of Borrower: [Your Name] 2. Receipt of Full Payment Amount: [Insert payment amount in words and numbers] 3. Payment Method: [Check, wire transfer, cashier's check, etc.] — If by check, please make it payable to [Recipient's Name]. — If a wire transfer is preferred, kindly provide the necessary instructions for the transfer. [Include bank name, account number, routing number, etc.] Please acknowledge this letter within seven (7) business days to confirm that my full payment has been received and that the promissory note balance has been cleared. A written confirmation, preferably by certified mail or email with a read receipt, is highly appreciated. In the event of any further proceedings, I trust that you will update all relevant parties involved regarding the status of my account to avoid unnecessary communication or legal actions. I would like to express my gratitude for the prompt attention we have received throughout the duration of our agreement, and appreciate your assistance in finalizing this matter in a timely manner. Should you have any questions or require additional information, please do not hesitate to contact me at [Your Phone Number] or [Your Email Address]. Thank you for your understanding and cooperation. Yours sincerely, [Your Name] Types of Arkansas Letter Tendering Full Payment of Existing Balance of Promissory Note: 1. Arkansas Letter Tendering Full Payment of Existing Balance of Promissory Note Due to Acceleration: This type of letter is used when a borrower in Arkansas wishes to tender full payment of their promissory note balance due to acceleration, which allows for the early repayment of the note according to the terms and conditions outlined in the promissory note. 2. Arkansas Letter Tendering Full Payment of Existing Balance of Promissory Note Due to Prepayment: This variant is suitable when a borrower in Arkansas intends to tender full payment of their promissory note balance due to prepayment, meaning they choose to pay off the note in advance of the original repayment schedule stipulated in the promissory note agreement.Arkansas Letter Tendering Full Payment of Existing Balance of Promissory Note Due to Acceleration or Prepayment of Note: This letter template is designed to assist individuals or organizations in Arkansas who wish to tender full payment of their existing promissory note balance due to acceleration or prepayment. By utilizing this letter, you can provide a detailed description of the payment process while including the necessary relevant keywords to ensure clarity and compliance with Arkansas state regulations. [Your Name] [Your Address] [City, State, ZIP Code] [Date] [Recipient’s Name] [Recipient’s Address] [City, State, ZIP Code] Subject: Full Payment of Existing Balance of Promissory Note Due to Acceleration or Prepayment Dear [Recipient's Name], I hope this letter finds you well. As per the terms and conditions of the promissory note dated [Note Date], I am writing to tender full payment of the existing balance due to acceleration or prepayment. Please be advised that the purpose of this correspondence is to fulfill my obligations under the aforementioned promissory note and settle the outstanding balance promptly. I have carefully reviewed the terms outlined in the note, and according to Section [Note Section Number: Acceleration/Prepayment], I have the right to accelerate the repayment schedule and make full payment at any time. To ensure a smooth payment process, I would appreciate your prompt attention to the following details: 1. Name of Borrower: [Your Name] 2. Receipt of Full Payment Amount: [Insert payment amount in words and numbers] 3. Payment Method: [Check, wire transfer, cashier's check, etc.] — If by check, please make it payable to [Recipient's Name]. — If a wire transfer is preferred, kindly provide the necessary instructions for the transfer. [Include bank name, account number, routing number, etc.] Please acknowledge this letter within seven (7) business days to confirm that my full payment has been received and that the promissory note balance has been cleared. A written confirmation, preferably by certified mail or email with a read receipt, is highly appreciated. In the event of any further proceedings, I trust that you will update all relevant parties involved regarding the status of my account to avoid unnecessary communication or legal actions. I would like to express my gratitude for the prompt attention we have received throughout the duration of our agreement, and appreciate your assistance in finalizing this matter in a timely manner. Should you have any questions or require additional information, please do not hesitate to contact me at [Your Phone Number] or [Your Email Address]. Thank you for your understanding and cooperation. Yours sincerely, [Your Name] Types of Arkansas Letter Tendering Full Payment of Existing Balance of Promissory Note: 1. Arkansas Letter Tendering Full Payment of Existing Balance of Promissory Note Due to Acceleration: This type of letter is used when a borrower in Arkansas wishes to tender full payment of their promissory note balance due to acceleration, which allows for the early repayment of the note according to the terms and conditions outlined in the promissory note. 2. Arkansas Letter Tendering Full Payment of Existing Balance of Promissory Note Due to Prepayment: This variant is suitable when a borrower in Arkansas intends to tender full payment of their promissory note balance due to prepayment, meaning they choose to pay off the note in advance of the original repayment schedule stipulated in the promissory note agreement.
