Square Peg Ventures LLC 10yr bond
|Issuer Information||Coupon Pricing|
|Asset ID||411157988519683095||Price Per Coupon||$10.00|
|Asset Issuer ID||NXT-RVTR-7X47-S2VV-CT74D||# of Coupons||175,000|
|Issued Date||10/3/2017||Price Per Coupon||149.05 NXT|
|Asset Issuer Name||McMahon Corp.||Payment @ Maturity||$16.00|
|Underlying Debtor||Square Peg Ventures LLC||Annual Coupon %||6%|
SquarePeg10yrBnd is designed to provide working capital for the growth and stability of Square Peg Ventures, LLC (an asset holding company and early-stage venture company based in New York with a diverse portfolio of investments including holdings in emerging growth & technology-enabled companies, income producing financial instruments, real estate development and management projects, and income producing real property holdings. This asset is issued by McMahon Corp., the holder of the underlying primary debt instrument upon which this asset is based. This asset will mature after 10 years with a 6% annualized yield.
|Min Denom / Increment||1 / 1|
|Maturity Timeframe||10 Years|
|Payment @ Maturity||$2,800,000|
|Issuer Late Fees (past maturity date on Loan)|
|Interest rate||9% (This fee is paid to the Asset Issuer by borrower)|
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This NXT Coin based asset (this “Asset”) is issued by McMahon Corp. (the “Company”) for the purpose of capitalizing the Company’s investment in a debt instrument offered by Square Peg Ventures, LLC (www.squarepeg.vc) (“Square Peg,” or “SPV”). Payment of the principal and interest of this Asset is assured by the prime debt instrument of Square Peg Ventures, LLC issued to and held by McMahon Corp. (the “Note”) as specified in the listing above. Square Peg has agreed to make regular payments into an Escrow Account managed by McMahon Corp. (the “Escrow Account”) pursuant to the terms of the Note and associated lending documents. McMahon Corp. shall be the holder of the prime Note upon which this Asset is based. McMahon Corp. shall further act as the servicer in the creation, processing, maintenance, payment and wind-up of the issued Asset and as the agent (the “Escrow Agent”) of funds deposited into the Escrow Account for the purposes of fulfillment of the Asset upon maturity.
Unless subject to ‘Late Payment Interest’ (as defined below), no additional yield shall accrue on the Asset after the Maturity Date thereof. Except as set forth herein, the total yield shall not exceed the Aggregate Coupon Amount set forth in the listing for this Asset. The “Maturity Date” will be set at such time as ‘Outstanding Size’ reaches ‘Original Size’ or at such earlier time as may be determined by the Company. After the closing date is set no additional Assets will be issued under this issuance. The total ‘Outstanding Size’ will not exceed ‘Original Size.’
Upon the Maturity Date, interest on the principal amount of the Asset shall cease accruing and (unless not fully-funded) the Escrow Account shall cease receiving regular payments from Square Peg; promptly after the Maturity Date of the Asset a “Maturity Payout” shall be furnished to the then present holder of the Asset (the details of such Maturity Payout as set-forth in the Asset details table above). Should the total final balance of the Escrow Account not meet the aggregate principal and interest payable on the Note, Square Peg agrees that any balance remaining after the Maturity Date will accrue simple interest at an increased annualized rate of nine percent (9%) (the “Late Payment Interest”) until such time as the principal balance on the underlying Note reaches $0.00 USD; such payment will then be processed and held in the Escrow Account until the holders of the Assets issued hereunder tender the same for payment of the Maturity Payout. Any late-fees or default interest amounts shall be added to the total balance payable by Square Peg Ventures, LLC.
Asset holders shall be solely responsible for tendering held Assets for payout of the principal and interest pursuant to the Maturity Payout under the Asset. Any unclaimed funds will be held in the Escrow Account by McMahon Corp. for up to twelve (12) months after Maturity, or until such time as the Assets have been completely paid out (whichever period is shorter). Thereafter, such Escrow Account may remain, but shall not be required to remain, under the management of McMahon Corp.; McMahon Corp. shall be permitted, in its sole and absolute discretion, to appoint a new manager or agent for the Escrow Account (which such manager / agent may become Square Peg Ventures, LLC itself). McMahon Corp. shall be entitled to receive compensation in the form of interest accruing on the balance of the Escrow Account (to the extent such amounts exceed the aggregate principal and interest balance payable hereunder).
This Asset is issued by the Company on the NXT ASSET EXCHANGE. You will need a valid NXT wallet to exchange NXT Coin for the listed Asset. The Asset holder is and shall be fully responsible and liable for their own wallet and assets held. McMahon Corp. and Square Peg Ventures, LLC are not and shall not be liable or responsible, under any circumstances, for the loss or theft of any Asset holders wallet or assets held therein. The obligation and liabilities of McMahon Corp. shall be limited solely to the repayment of the principal and interest amounts under the Asset; the obligations and liabilities of Square Peg Ventures, LLC is and shall be limited solely to the repayment of the Note and its obligations thereunder together with any associated loan documents; Square Peg shall have no other obligations or liabilities to the Asset holders and such Asset holders (whether acquiring at initial issuance or subsequent thereto) shall have no claims against specific assets of the Company; as a condition precedent to the purchase of the Asset issued hereunder, the purchaser shall waive any and all other claims against Square Peg Ventures, LLC, it’s members, managers, officers, directors, employees, agents, attorneys, and affiliates, together with the successors and assigns thereof.
All principal, interest, and payment amounts relating to the Assets are and shall be denominated and calculated in U.S. Dollars ($USD) and shall be paid out to the Holders in the form of NXT Coin only (based on the value of such NXT Coin at the time of the payout).