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Economic defeasance |
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Economic defeasanceSee: In-substance defeasanceEconomic defeasance Similar MatchesLegal 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. DefeasanceDefeasanceThe process of rendering a contract or deed null and void following a specified act. In substance defeasanceIn substance defeasanceProcess through which debt is removed from the balance sheet but not canceled. |
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