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Cash Advance Form
For value received, the undersigned promises to pay to the order of Preferred Partners Group, (the "Lender"), at Miami Shores, Florida (or at such other place as the Lender may designate in writing), the above stated loan amount with no interest.
The loan will be deducted weekly by "Lender" against any future earned commissions until amount is satisfied in full.
Lender reserves the right to withhold/deduct up to the full amount of the borrower's weekly commissions amount until amount is satisfied in full.
If any of the following events of default occur, this Note and any other obligations of the Borrower to the Lender, shall become due immediately, without demand or notice:
1) the failure of the Borrower to pay the principal and any accrued interest when due;
2) the liquidation, dissolution, incompetency or death of the Borrower;
3) the filing of bankruptcy proceedings involving the Borrower as a debtor;
4) the application for the appointment of a receiver for the Borrower;
5) the making of a general assignment for the benefit of the Borrower's creditors;
6) the insolvency of the Borrower;
7) a misrepresentation by the Borrower to the Lender for the purpose of obtaining or extending credit; or
8) the sale of a material portion of the business or assets of the Borrower.
This Note shall be construed in accordance with the laws of the State of New York.
This Note shall be signed by the Borrower and by doing so acknowledges all above stated facts and amounts to be true, and also by the Manager of the Borrower acting as a witness.
Signature of Borrower
Signature of Manager
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