Repayment at Payee’s Demand. The Payee shall have the right to cause the Maker to repay the Bond at any time upon five (5) days’ notice to Maker at the repayment amount of the Outstanding Principal Balance plus any accrued but unpaid interest up to but not including the date of repurchase (the “Repayment Date”), subject to the limitations set forth under Section 5(c) of the Worthy Demand Bond Investor Agreement. Interest shall cease accruing on the Bond on the Repayment Date. The Outstanding Principal Balance together with interest through the Repayment Date shall be credited to the Payee’s Account within five (5) business days following the Repayment Date, upon which all amounts due under this Bond shall be deemed paid in full. The Payee’s right to demand repayment of the Bond is limited pursuant to the terms of the Worthy Demand Bond Investor Agreement.
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Samples: Worthy Demand Bond Subscription Agreement (Worthy Peer Capital, Inc.), Worthy Demand Bond Investor Agreement (Worthy Peer Capital, Inc.), Worthy Demand Bond Investor Agreement (Worthy Peer Capital, Inc.)
Repayment at Payee’s Demand. The Payee shall have the right to cause the Maker to repay the Bond at any time upon five (5) days’ notice to Maker at the repayment amount of the Outstanding Principal Balance plus any accrued but unpaid interest up to but not including the date of repurchase (the “Repayment Date”), subject to the limitations set forth under Section 5(c) of the Worthy Demand Property Bond Investor Agreement. Interest shall cease accruing on the Bond on the Repayment Date. The Outstanding Principal Balance together with interest through the Repayment Date shall be credited to the Payee’s Account within five (5) business days following the Repayment Date, upon which all amounts due under this Bond shall be deemed paid in full. The Payee’s right to demand repayment of the Bond is limited pursuant to the terms of the Worthy Demand Property Bond Investor Agreement.
Appears in 3 contracts
Samples: Worthy Property Bond (Worthy Property Bonds, Inc.), Worthy Property Bond Investor Agreement (Worthy Property Bonds, Inc.), Worthy Property Bond Subscription Agreement (Worthy Property Bonds, Inc.)
Repayment at Payee’s Demand. The Payee shall have the right to cause the Maker to repay the Bond at any time upon five (5) days’ notice to Maker at the repayment amount of the Outstanding Principal Balance plus any accrued but unpaid interest up to but not including the date of repurchase (the “Repayment Date”), subject to the limitations set forth under Section 5(c) of the Worthy Demand Compound Bond Investor Agreement. Interest shall cease accruing on the Bond on the Repayment Date. The Outstanding Principal Balance together with interest through the Repayment Date shall be credited to the Payee’s Account within five (5) business days following the Repayment Date, upon which all amounts due under this Bond shall be deemed paid in full. The Payee’s right to demand repayment of the Bond is limited pursuant to the terms of the Worthy Demand Compound Bond Investor Agreement.
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