Defeasance

外汇网2021-06-19 20:56:19 162

A provision that voids a bond or loan when the borrower sets aside cash or bonds sufficient enough to service the borrower's debt.

Also referred to as "defease."

|||The borrower sets aside cash to pay off the bonds, therefore the outstanding debt and cash offset each other on the balance sheet and don't need to be recorded.

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cash

sets

sufficient

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Defeasance

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