FOR VALUE RECEIVED
the undersigned and_______________________________ (the "Company")
hereby acknowledge and agree that:
1. The company presently owes the undersigned
the sum of $____________,
the said sum being presently due and payable.
2. In further consideration of the
undersigned's forbearance, the company
agrees to pay said debt on extended terms in the manner following:
________________________________________________
________________________________________________
3. In the event the company fails to make any
payments punctually on the
agreed extended terms, the undersigned shall have the right to proceed
immediately for the collection of the entire balance then remaining, and the
company hereby waives any defence, whether now known, or which may
become known in the future, in respect of the said obligation to pay.
4. This agreement shall be binding upon and
shall enure to the benefit of the
parties, their successors, assigns and personal representatives.
Dated this_____ day of______________, 200(x) .
IN WITNESS WHEREOF the the parties hereto have
hereunto affixed their
respective corporate seals, attested by the hands of their respective officers,
duly authorized in that behalf, on the day and year first above written.
CORP NAME #1
Authorized Officer_____________________________
CORP NAME #2
Authorized Officer_____________________________
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