Word: repay
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Dates: during 1970-1979
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...Railroad Bank and Trust Co. and a longtime friend, admits that he loaned Lance $651,000 in 1976 in a deal that was "somewhat casual." As in some other Lance loans, there was no maturity date set; as long as he met interest payments there was no need to repay the principal. And being a banker, Lance got favorable interest rates on his loans; probably about...
Foreign confidence was shaken by the disastrous financial crisis undergone two years ago by the country's national oil company, Pertamina. Afflicted by gross mismanagement and blatant corruption, the company could not repay several billion dollars in loan obligations and had to be bailed out by the government. To help raise the money, the government assessed Caltex-producer of 63% of Indonesian oil-an extra $1 per bbl. in royalties and arbitrarily cut the earnings of other foreign oil companies by about $2.50 per bbl. Admits Indonesian Minister of Mining Affairs...
...auto loan and $50 a month on department-store charge accounts. Conclusion: he would pay anything from 1% to 22% effective annual interest on his vacation loan if he turned to legitimate creditors, 55% for ten weeks if he sought out a Las Vegas loan shark (borrow $2,000, repay $3,100-or else...
LIFE INSURERS would lend the money at 5% to 8% interest annually, if the salesman had built up a cash value of $2,000 or more in a policy. Since he would in effect be borrowing his own money, he could repay the principal whenever he felt like it, or not at all. In that case the $2,000 would be deducted from the proceeds paid to his beneficiaries when he died...
Such tactics are not always necessary. In 1973 conscience-stricken Commentary Editor Norman Podhoretz sold his beloved country home to repay $17,500 owed Simon & Schuster for an unwritten tome on the 1960s. Nora Ephron (Crazy Salad) has paid the last of $14,000 she owed Viking for a never-written history of the liquor industry...