renewal note

Definition of "renewal note"
  1. A document that extends the liability under a previously due obligation
How to use "renewal note" in a sentence
  1. The bank released a renewal note to carry forward the due amount from the previous loan.
  2. To extend the repayment term, a renewal note was signed by both parties.
  3. The debt was not resolved, so they arranged a renewal note to prolong the obligation.
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