Interested in borrowing 15,000 to 25,000 LTC at 1% per week.

[ElectricMucus]

Why don't set up a bond on LTC-Global?

He'd never get that much publicity.
You have to know: I called on the LTC-haters recently that the only way for them to drive down the price is buy high and sell low which costs them money. DnT probably thinks he can "prove me wrong".
Nevertheless he'd probably say that has nothing to do with it

can you link me to your specific post on that?

here https://bitcointalk.org/index.php?topic=124320.msg1336136#msg1336136

[DeathAndTaxes]

Why don't set up a bond on LTC-Global?

Given the GLBSE fiasco combined with unknown legal issues I would rather just do this as a straight note.  I have arranged (for Tangible Cryptography LLC) a large number of BTC denominated notes under similar terms and conditions.

[DeathAndTaxes]

so you borrow 15,000 LTC and in one week you pay 150 ltc in interest?

Correct however interest payment will only be once per month (600 LTC on a 15K LTC note per month).  I know monthly interest payments are less popular so I am willing to prepay the interest up front (i.e. pay interest for motnh of Dec on Dec 1, by Dec 31st the prepaid interest has accrued).  Willing to work with multiple lenders if necessary but would like to keep it to 2-3 max and the min per note at 5K LTC simply because payments will be made manually.

how long do u need principle, minimum 90 days and within 30 days of wanting money back? if thats what ur terms mean

Correct.  Min length is 90 days it can be repaid (fully or partially) by me at any time.  Lender can call the note at time (after min of 90 days) and it will be repaid in full within 30 days.

If this is a serious inquiry I can draw up a promissory note for you to review.  Just let me know.

[payb.tc]

hey d&t, i'll lend you 5000 ltc for 90 days.

let me know how you want to proceed, but let's make the deposit address public.

cheers.

[EngMan]

I'm in for 5k LTC as well.

[DeathAndTaxes]

hey d&t, i'll lend you 5000 ltc for 90 days.

let me know how you want to proceed, but let's make the deposit address public.

cheers.

I'm in for 5k LTC as well.

Sounds good.  I have no issue with public addresses.  I will post up a draft of a promissory note for review this evening.

[420]

I may be interested for 5K let me know if additional lenders needed

[DeathAndTaxes]

I may be interested for 5K let me know if additional lenders needed

I can use another 5K.  Let me know if the promissory note below is acceptable. 

[DeathAndTaxes]

Draft of promissory note:

PROMISSORY NOTE

Borrower:   DeathAndTaxes (real name and verification provided to creditor)
123 CANT ESCPAE DEATH LANE
CHESAPEAKE, VA 23322

Lender:      [LENDER NAME]

Principal Amount:   x,xxx LTC

1.   FOR VALUE RECEIVED, the Borrower promises to pay the Lender, the principal sum of [PRINCIPAL AMOUNT] Litecoins ( x,xxx LTC), with interest payable on the unpaid principal at the rate of 1% percent per week, calculated weekly.

2.   For periods of less than one Month due to disbursement, transfer, sale, or repayment in full, the interest payable on the unpaid balance shall be 0.033% per day.

3.   Lender will disburse the principal amount to the Borrower at Litecoin address [DEPOSIT ADDRESS].

4.   Borrower will make monthly periodic interest payment to Lender to a Litecoin address [REPAYMENT ADDRESS] or another such address as designated by the Lender in writing to the Borrower.

5.   This Note will be repaid in consecutive monthly installments of interest only on the first day of each Month commencing the Month following the execution of this Notes until the Lender has provided the Borrower with written notice (“Notice of Demand”).

6.   Upon Notice of Demand Borrower will repay the outstanding Principal amount in full to include any accrued and unpaid interest.  Principal Repayment will be completed no later than thirty days after Notice of Demand.  The Lender is prohibited from issuing a Notice of Demand during the first ninety days following disbursement.

7.   At any time while not in default under this Note, the Borrower may pay some or all of the oustanding balance then owing under this Note to the Lender without further bonus or penalty.  

8.   Upon Notice of Sale from Lender, Borrow will transfer the Note and all future proceeds to a party designated by the Lender.  Lender agrees to provide the acquiring party a copy of this Note, and Acquiring party agrees to be bound by the terms of this note as condition for the sale.  The Lender agrees to have all reasonable costs in validating and recording the transfer of sale deducted from outstanding interest owed.

9.   This Note will be construed in accordance with and governed by the laws of the Commonwealth of Virginia.

10.   All costs, expenses and expenditures including, and without limitation, the complete legal costs incurred by The Lender in enforcing this Note as a result of any default by the Borrower, will be added to the principal then outstanding and will immediately be paid by the Borrower.

11.   This Note will enure to the benefit of and be binding upon the respective heirs, executors, administrators, successors and assigns of the Borrower and Lender. The Borrower waives presentment for payment, notice of non-payment, protest and notice of protest.

Borrower:  


_______________________________________
DeathAndTaxes



Lender:  


_______________________________________
<LENDER NAME>

[payb.tc]

@ D&T regarding draft:

i'm not interested in having USD play any part whatsoever in my investment.

the wording of the above seems to state that you will repay me some USD value in LTC, which I am not interested in.

if I'm lending you 5000 LTC, you owe me 5000 LTC, regardless of whether they are worth 5 cents or 5 billion dollars.

[DeathAndTaxes]

Oops.  Corrected.  It was left over from Tangible Cryptography LOC docs.

[payb.tc]

Oops.  Corrected.  It was left over from Tangible Cryptography LOC docs.

great! next question: where can one find your gpg key?

[DeathAndTaxes]

Oops.  Corrected.  It was left over from Tangible Cryptography LOC docs.

great! next question: where can one find your gpg key?

Good question.  I need to make one.  The only GPG Key I currently use is the company key.  As this is a private transaction I should be using a separate key.  I will generate a new key, upload it to a key server and then have the company key sign my personal key.

[payb.tc]

Oops.  Corrected.  It was left over from Tangible Cryptography LOC docs.

great! next question: where can one find your gpg key?

Good question.  I need to make one.  The only GPG Key I currently use is the company key.  As this is a private transaction I should be using a separate key.  I will generate a new key, upload it to a key server and then have the company key sign my personal key.

okay great, let me know all the details / urls... i need to make one too.

[DeathAndTaxes]

Oops.  Corrected.  It was left over from Tangible Cryptography LOC docs.

great! next question: where can one find your gpg key?

Good question.  I need to make one.  The only GPG Key I currently use is the company key.  As this is a private transaction I should be using a separate key.  I will generate a new key, upload it to a key server and then have the company key sign my personal key.

okay great, let me know all the details / urls... i need to make one too.

Created, signed by company key, and uploaded to MIT keyserver:
http://pgp.mit.edu:11371/pks/lookup?op=vindex&search=0x3644A235B778DA6C

Fingerprint: 2D10 4B36 8450 0585 18B4  960D 3644 A235 B778 DA6C

[EngMan]

The note looks good to me.