A promissory note calling for payment of principal in one sum rather than in installments.
Note in which the entire principal is repaid in one sum, rather than in installments.
A promissory note evidencing a loan in which "interest only" payments are made periodically during the term of the note, with the principal payment due in one lump sum upon maturity.
Loan agreement requiring only interest payments over the term of the loan with a balloon payment, of the entire debt balance, due at the end of the term.
A promissory note with the principal payable in one lump sum instead of in installments.
Also known as a Term Note: it is a note where, typically, all of the principal is paid at maturity and only interest payments are made during the term of the loan.