Definition

1. Noun:
   • A promissory note with a specified maturity date: A "time note" is a formal written promise to pay a sum of money, where the document explicitly states the date or dates on which the repayment is due.

Usage

• A "time note" is a specific type of financial instrument. It is used in formal contexts like banking, finance, and legal agreements to denote debt with a fixed repayment schedule.

Examples

• Noun:
  • The business secured a loan by issuing a time note to the bank, maturing in five years.
  • He held a time note that specified repayment in two equal installments, due in six and twelve months.

Advanced Usage

• "to hold a time note": to be in possession of such a promissory note.

  • The investor held several time notes from various small businesses.

• "to mature" (for a time note): to reach its specified repayment date.

  • The interest is payable annually until the time note matures.

Variants and Related Words

• Promissory note (n): A broader term for a written promise to pay a specified sum of money at a fixed or determinable future time. A "time note" is a type of promissory note with a fixed maturity date.
• Demand note (n): A promissory note that is payable whenever the lender demands repayment, contrasting with a "time note" which has a fixed date.

Synonyms

• Term note: A note payable on a specified future date or in installments over a period.
• Dated note: A note that bears a specific maturity date.

Related Phrases

• Fixed-term note: A note with a predetermined, unchangeable repayment period.
  • The corporation issued fixed-term notes to finance the new factory.

Noun

1. a note that specifies the time (or times) of repayment