Century Dictionary and Cyclopedia
- To forfeit.
- To discharge; free from; acquit of.
“The town of Vail has been trying to stay ahead by having a plan in place to "defease" town debt, meaning the town would set aside money it still owes to bondholders with a trustee.”
“Unlike the SPG transactions, the Brookfield transaction provides a mechanism to defease both the unknown Hughes Heirs 'liability and $300 million of MPC tax liabilities.”
“In all, $76 million of State General Fund surplus and $233.7 million in collections from the Amnesty Act of 2009 will be used to defease debt in FY 10, thereby reducing State Debt Service by $309.7 million in FY 10-11.”
“If the site is sold, the township plans to use all proceeds to defease the 2007 bond issue.”
“This amount includes $529 million in the debt reduction fund, which acts as a hedge for the utility's variable-rate debt exposure and can be used in the future to economically defease debt or to pay current debt service costs.”
“Usually close to 50% or more in some cases defease, which means that basically the security is based by treasury.”
“Dominion is obligated not to redeem, purchase or defease the securities before June 15, 2034”
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Ay, ay, the best terms will grow obsolete: damns have had their day. -- Richard Brinsley Sheridan (1751-1816)
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My fancies, my cudgels.
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