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Payable on Demand

   Also found in: Legal 0.01 sec.
Payable on Demand
Describing a debt that must be repaid upon the request of the lender. For example, if Joe lends Bob $100 payable on demand, there is no set payment date, but Bob must pay whenever Joe asks. Some loans become payable on demand if the borrower violates the terms of the lending agreement. See also: Call the loan.


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The money is payable on demand, but not if doing so would make the company (Kop Holdings) insolvent.
That would be payable on demand if the control of the club was to change.
However if the employee leaves the loan can become due and payable on demand.
 
 
 
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