What are variable funding notes?
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I need out of being an attorney, at least for a little while. I can’t continue at my current job the way things are going: I think when I got licensed (3.5 years ago) and started at my firm, I was a bit burned out from law school and having to study for and take the bar multiple times. Circumstances at my job only made my feeling of burnout worse from the beginning, and my feeling has only grown exponentially since. (continued in reply)
I left my associate attorney position to do a federal clerkship for a year. How do I explain to friends and family that it’s not like a demotion even though I won’t be practicing as an attorney? All the non-law people I tell seem confused as to why I would take a lower paying, temporary, non-attorney job for a year.
I believe that is a revolving promissory note. Note is up to a maximum amount, the borrower can draw down on it in various increments, and make payments and then continue to draw. A quick Google says that is about right, but I'm sure there is more to it than that - I'm not a debt lawyer, just your average M&A associate here.