PAYMENT PLAN PROMISSORY NOTE
In the event the Promisor fails to rectify a default in payment within 7 days of the default, all outstanding Monthly Principal Amounts and any interest accrued shall become immediately due and payable without notice or demand.
It is the sole obligation of the Promisor to ensure the Designated Credit Card has sufficient credit limits and/or funds therein. In the event, the Designated Credit Card is no longer active without prior written notification to the Payee, the Promisor is deemed to have defaulted on this Promissory Note and all the access to the training program will be dismissed.
In the event that the Promisor’s credit card is expiring or has expired during the tenure of the Promissory Note, it is the absolute responsibility of the Promisor to inform and furnish the Payee with the relevant details of the Promisor’s replacement credit card at least 7 business days prior to the next payment due date (relative to the expiry date of the Designated Credit Card) under the Promissory Note.