First Interest payment Clause Samples

First Interest payment. Investors may execute subscription documents at any time, subject to acceptance by the Manager. However, an investment in REICI Bonds will become effective as a debt investment only at the Manager’s acceptance of the subscription and associated deposit of an Investor’s money into REICI’s subscription account (the “Effective Date”). Interest on RE▇▇▇ ▇▇▇▇▇ ▇ill begin to accrue as on the first day of the next calendar month after the date the Investor’s subscription funds are deposited into REICI’s bank account “Effective Date”. Thereafter, all interest payments shall be made on an annual quarterly basis.