$60,000,000 Promissory Note between M&I Data Services, Inc. and Marshall & Ilsley Corporation

Contract Categories: Business Finance › Note Agreements
Summary

M&I Data Services, Inc. has issued a promissory note to Marshall & Ilsley Corporation, agreeing to repay up to $60 million on demand. Interest is calculated based on the average commercial paper rate plus 0.25% and is payable quarterly. Payments of both principal and interest are to be made in U.S. dollars at the specified address. The agreement allows for flexibility in payment terms and waives certain formalities, such as notice of nonpayment. The note is signed by the Chairman and CEO of M&I Data Services, Inc.

Read More Arrow
EX-10.26A 2 0002.txt PROMISSORY NOTE FOR $60 MILLION PROMISSORY NOTE Exhibit 10.26(a) $60,000,000.00 Milwaukee, Wisconsin October 13, 1994 For Value Received, M&I Data Services, Inc., a Wisconsin corporation, on demand promises to pay to the order of Marshall & Ilsley Corporation the principal sum of Sixty Million and 00/100 Dollars ($60,000,000.00) or so much thereof as shall from time to time be disbursed to or for the benefit of M&I Data Services, Inc. Interest on the principal amount of this note shall be paid quarterly with the first interest payment due December 31, 1994, and subsequent payments shall be due and payable on the last day of March, June, and September, thereafter. Interest payments shall be determined by the sum, since the last interest payment, of multiplying the daily outstanding balance of this note by the rate equal to the average commercial paper rate plus 1/4% divided by 365 days. Payments of both principal and interest are to be paid in lawful money of the United States of America at the offices of Marshall & Ilsley Corporation, 770 North Water Street, Milwaukee, Wisconsin 53202, or at such other place as the holder shall designate in writing to the maker. The maker and all endorsers hereby severally waive presentment for payment, protest and demand, notice of protest, demand and of dishonor and nonpayment of this Note, and consent that the holder may extend the time of payment or otherwise modify the terms of payment of any part or the whole of the debt evidenced by this Note, at the request of any other person liable hereon, and such consent shall not alter or diminish the liability of any person. M&I DATA SERVICES, INC. /s/ Dennis J. Kuester ------------------------ Dennis J. Kuester, Chairman and CEO