See Also: Legal defeasance(money)
Legal defeasance(finance)
Defeasance(money)
Defeasance(finance)
Defeasance(law)
defeasance(dictionary)
In-substance defeasance(money)
Economic defeasance(money)
In substance defeasance(finance)
DEFEASANCE, contracts, conveyancing(law)

Legal defeasance (finance)


The 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.