The Subordinated Promissory Note is commonly used in Canadian business transactions where parties need to document a debt obligation that ranks below other specified debts in priority. This document is particularly useful in complex financing arrangements, corporate restructurings, or when companies need to raise additional capital while maintaining existing senior debt relationships. The note typically includes detailed terms about the principal amount, interest calculations (compliant with Canadian Interest Act requirements), payment schedules, and specific subordination provisions that clearly establish its junior position in the creditor hierarchy. It's essential for businesses operating under Canadian jurisdiction that need to create a clear record of debt obligations while respecting existing senior creditor rights. The document must comply with federal and provincial legislation, including securities laws if the note could be considered a security, and bankruptcy laws regarding creditor priorities.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Your data doesn't train Genie's AI
You keep IP ownership聽of your docs
1. Parties: Identification of the lender (holder) and borrower (maker) of the note
2. Background: Context of the loan and relationship between the parties
3. Definitions: Key terms used throughout the note, particularly defining senior debt and subordination-related terms
4. Promise to Pay: The fundamental promise to repay the principal amount with specified interest
5. Principal Amount: Statement of the loan amount and currency
6. Interest Rate: Specification of interest rate, calculation method, and payment frequency
7. Payment Terms: Schedule of payments, including maturity date and any installment provisions
8. Subordination Provisions: Terms establishing the subordinate nature of the debt and its relationship to senior debt
9. Events of Default: Circumstances constituting default and corresponding remedies
10. Representations and Warranties: Basic representations about authority to enter into the agreement and validity of the obligation
11. Notice Requirements: Procedures for giving notice between parties
12. Governing Law: Specification of Canadian law as governing law
13. Execution: Signature blocks and date of execution
1. Security Interest: Include when the note is secured by specific assets
2. Guarantee: Include when there is a third-party guarantor of the obligation
3. Prepayment Rights: Include when early payment is permitted, potentially with specified penalties
4. Tax Provisions: Include when there are specific tax considerations or withholding requirements
5. Assignment and Transfer: Include when the note is intended to be transferable
6. Conversion Rights: Include when the note can be converted into equity or other securities
7. Registration Rights: Include when the note needs to be registered with securities regulators
8. Subordination Acknowledgment: Include when senior creditors need to acknowledge and agree to the subordination terms
1. Payment Schedule: Detailed schedule of payment dates and amounts if installment payments are required
2. Senior Debt Schedule: List of existing senior debt to which this note is subordinate
3. Security Agreement: Details of any collateral securing the note, if applicable
4. Form of Subordination Acknowledgment: Standard form for senior creditors to acknowledge subordination terms
5. Interest Calculation Examples: Examples showing how interest will be calculated in various scenarios
Find the exact document you need
Note Secured By (Real Estate)
A Canadian legal document establishing a debt obligation secured by real estate property, combining promissory note elements with security features.
Download
Landlord Tenant Promissory Note For Rent Payment
A Canadian legal document that formalizes a tenant's promise to pay outstanding or future rent payments to their landlord, governed by federal and provincial laws.
Download
Promissory Note For Funeral
A Canadian legal document establishing a promise to pay for funeral services, governed by federal and provincial regulations.
Download
Promissory Note For Late Rental Payment
A Canadian legal document formalizing an agreement between landlord and tenant for the repayment of overdue rent, including payment terms and conditions.
Download
Straight Note (Real Estate)
A Canadian legal document establishing a secured real estate debt obligation, detailing repayment terms and property security arrangements.
Download
Simple Promissory Note For Family Loan
A Canadian legal document that formalizes and documents the terms of a loan between family members, ensuring clarity and legal compliance while protecting both parties' interests.
Download
Promissory Note For Real Estate Purchase
A Canadian legal document evidencing a borrower's promise to pay a specified sum for real estate purchase, governed by federal and provincial laws.
Download
Unconditional Promissory Note
A Canadian legal document containing an unconditional written promise to pay a specified sum of money, governed by federal and provincial laws including the Bills of Exchange Act.
Download
Cash Promissory Note
A Canadian legal document containing a written, signed, and unconditional promise to pay a specified sum of money to a named party, either on demand or at a defined future date.
Download
Installment Promissory Note
A Canadian law-governed installment promissory note establishing structured repayment terms for a debt obligation with scheduled payments.
Download
International Promissory Note
A Canadian-law governed promissory note for international transactions, documenting a formal promise to pay with cross-border considerations.
Download
Trust Deed And Note
A Canadian legal document establishing a trust structure combined with a debt instrument, setting out trust arrangements and note terms under federal and provincial legislation.
Download
Promissory Note Letter For Delayed Payment
A Canadian legal document containing a written promise to pay a specified sum of money at a future date, governed by federal and provincial laws.
Download
Promissory Note For Car
A Canadian legal document combining a promissory note with vehicle security provisions, documenting a borrower's promise to repay a car loan.
Download
Promissory Note Compound Interest
A Canadian legal document evidencing a debt obligation with compound interest terms, compliant with federal and provincial lending laws.
Download
Senior Promissory Note
A Canadian-law governed debt instrument documenting a senior-ranking promise to pay a specified sum with defined payment terms and conditions.
Download
Recourse Promissory Note
A Canadian-law governed financial instrument documenting a borrower's promise to repay a debt, with the lender maintaining recourse rights against the borrower's other assets.
Download
Promissory Note With Real Estate Mortgage
A Canadian legal document combining a promissory note with real estate mortgage security, subject to federal and provincial laws, used to evidence and secure debt against property.
Download
Promissory Note With Collateral
A Canadian legal document combining a promise to pay with security interests in collateral, governed by federal and provincial legislation including the Bills of Exchange Act and PPSA.
Download
Promissory Note Repayment Schedule
A Canadian-law governed document that establishes the detailed repayment schedule and terms for a promissory note, including payment amounts, frequencies, and due dates.
Download
Promissory Note Cosigner Agreement
Canadian legal agreement establishing a cosigner's guarantee of a promissory note, outlining obligations and responsibilities under federal and provincial law.
Download
Promissory Note Convertible To Equity
A Canadian-law governed convertible debt instrument that allows for the conversion of a loan into equity shares under specified conditions, commonly used in early-stage financing.
Download
Promissory Note Secured By A Deed Of Trust
A Canadian legal instrument combining a promissory note with real property security through a trust deed arrangement, establishing loan terms and security rights under Canadian law.
Download
Generic Promissory Note
A Canadian-law governed document containing a written promise to pay a specified sum of money, including payment terms and conditions.
Download
Standby Promissory Note
A Canadian law-governed contingent payment instrument that combines features of traditional promissory notes with standby payment obligations, becoming payable upon specific triggering events.
Download
Refinance Promissory Note
A Canadian legal document evidencing a borrower's promise to repay a refinanced debt under new terms, complying with federal and provincial lending regulations.
Download
Partial Claim Promissory Note
A Canadian legal document establishing terms for partial debt payment arrangements, governed by federal and provincial legislation.
Download
Consumer Promissory Note
A legally binding financial document used in Canada that records a consumer's promise to repay a specific sum of money to a lender, subject to federal and provincial consumer protection laws.
Download
Promissory Note From Corporation To Shareholder
A Canadian law-governed promissory note documenting a corporation's legally binding promise to repay a specified sum to a shareholder, including payment terms and conditions.
Download
Old Promissory Note
A Canadian-law governed financial instrument documenting an unconditional promise to pay a specific sum of money, structured according to federal and provincial requirements.
Download
Multiple Advance Promissory Note
A Canadian-law governed financial instrument that establishes terms for multiple loan advances up to a maximum amount, including draw conditions, interest, and repayment terms.
Download
Simple Note Payable
A Canadian-compliant legal document evidencing a promise to pay a specified sum of money with defined interest rates and payment terms.
Download
Unsecured Promissory Note Issued By A Corporation
A Canadian law-governed unsecured promissory note template for corporate borrowers, establishing terms for repayment of debt without collateral.
Download
Credit Card Promissory Note
A Canadian legal document that converts credit card debt into a formal promise to pay, establishing repayment terms and conditions under Canadian federal and provincial laws.
Download
6 Month Promissory Note
A Canadian law-governed financial instrument documenting a six-month promise to pay a specified sum with defined interest and payment terms.
Download
Promissory Note With Balloon Payment
A Canadian-law governed financial instrument documenting a debt obligation with regular payments and a larger final balloon payment, including interest terms and security provisions.
Download
Personal Promissory Note
A Canadian legal document establishing a promise to pay a specific sum of money under defined terms, governed by federal and provincial legislation.
Download
Secured Demand Promissory Note
A Canadian legal document combining a demand promissory note with security interests in collateral, governed by federal and provincial laws.
Download
Renewal Promissory Note
A Canadian legal document that renews and potentially modifies an existing promissory note, establishing new payment terms while maintaining the original debt obligation.
Download
Interest Only Promissory Note With Balloon Payment
A Canadian promissory note structure where the borrower makes interest-only payments with a final balloon payment of the principal at maturity.
Download
骋别苍颈别鈥檚 Security Promise
Genie is the safest place to draft. Here鈥檚 how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; 骋别苍颈别鈥檚 AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it