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."
Montana Letter Tendering Full Payment of Existing Balance of Promissory Note Due to Acceleration or Prepayment of Note: Subject: Full Payment of Existing Balance of Promissory Note Due to Acceleration or Prepayment Dear [Lender's Name], I am writing this letter to inform you about my intention to tender full payment of the existing balance of the promissory note, which has become due for acceleration or prepayment. As per our agreement, I would like to settle the outstanding balance of the note in its entirety, including any accrued interest and other applicable charges. Keyword variations: Montana promissory note, tendering full payment, acceleration of note, prepayment, existing balance, settlement, accrued interest, applicable charges. I hereby confirm my understanding that the acceleration or prepayment of the promissory note results in immediate payment obligation. Therefore, I am diligently fulfilling my responsibility as a borrower and ensuring the complete repayment of the outstanding balance. To proceed with the payment, I have enclosed a certified check for the total amount of the outstanding balance as of [date]. Please note that I am including an additional amount to cover any potential interest accrued until the date of full repayment. Should there be any discrepancies in the final balance due, I kindly request you to notify me immediately so that I can rectify any errors or address any concerns promptly. I trust that upon receiving this letter, you will acknowledge the enclosed check and consider the promissory note fully satisfied. I kindly request a written confirmation of the receipt of full payment and the discharge of any further obligations related to the note. Thank you for your cooperation in this matter. I appreciate your assistance in promptly settling all elements pertaining to the acceleration or prepayment of the promissory note. Sincerely, [Your Name] [Your Contact Information]
