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Defeasance |
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DefeasanceThe process of rendering a contract or deed null and void following a specified act.Similar MatchesIn substance defeasanceIn substance defeasanceProcess through which debt is removed from the balance sheet but not canceled. Economic defeasanceEconomic defeasanceSee: In-substance defeasance Legal defeasanceLegal defeasanceThe deposit of cash and permitted securities, as specified in the bond indenture, into an irrevocable trust sufficient to enable the issuer to fully discharge its obligations under the bond indenture. |
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