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Legal defeasance

• The deposit of cash and permitted securities, as specified in the bond indenture, into an irrevocable trust sufficient to enable the issuer to discharge fully its obligations under the bond indenture.

 
 Embedded terms in definition
 Bond indenture
Bond
Cash
Indenture
Issuer
Its
Securities
 
 Related Terms
 Defeasance
Economic defeasance
In substance defeasance
Legal bankruptcy
Legal capital
Legal investments
Legal list

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Do not go where the path may lead, go instead where there is no path and leave a trail. - Ralph Waldo Emerson

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