Shared Earnings Agreement
3 statements across 1 episodes · 0 bullish · 0 bearish · 1 people on the record · first statement Jul 8, 2020 by Tyler Tringas · said 2 times in 1 episodes since 2020 · across every show →
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brought up most by Tyler Tringas (1), Nathan Latka (1)
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2020 2 mentions in 1 episode
Everything said about Shared Earnings Agreement, oldest first
Jul 8, 2020
Tringas: Earnest Capital SEALs have no covenants, repayment deadlines, or foreclosure rights
“We, for example, we don't ever, like, strive to have any kind of covenants or any kind of, you know, way that we could there's no deadline that you can miss for repayments, right? There's no way to default On us other than, you know, literally not paying, maki…”
Jul 8, 2020
Tringas: Earnest Capital blocks arbitrary prepayments but guarantees formulaic buy-downs
“The founders are allowed to make that payment. They're not allowed to prepay in the sense of just dumping money at us. So what they can't do is just say, here's a check, 300 grand, boom, like we bought you down, right? And again, the reason for that is let's s…”
Jul 8, 2020
Tringas: Earnest Capital equity is typically reducible by up to two-thirds
“It's usually reducible by two thirds. So, so if we had written a check that entitled us to say nine percent of ConvertKit, you know, Nathan absolutely would have, you know, paid us down to about three percent and we would be very happy to still have that three…”