Practice whereby the borrower sets aside cash or bonds sufficient to service the borrower's debt. Both the borrower's debt and the offestting cash or bonds are removed from the balance sheet.
Found on http://www.encyclo.co.uk/local/20047
See Advanced Refunding.
Found on http://www.oasismanagement.com/glossary/
The process of rendering a contract or deed null and void following a specified... <a target=_blank href='http://www.finance-glossary.com/terms/defeasance.htm?id=381&ginPtrCode=00000&PopupMode=false' title='Read full definition of defeasance'>more</a>
Found on http://www.finance-glossary.com/pages/home.htm
[ Old French defesance
, from defesant
, French défaisant
, present participle of defaire
, French défaire
, to undo. See Defeat
A defeat; an overthrow. [ Obsolete] « After his foes' defeasance
Found on http://www.encyclo.co.uk/webster/D/22
The setting aside by a borrower of cash or bonds sufficient to service the borrower`s debt. Both the borrower`s debt and the offsetting cash or bonds are removed from the balance sheet. In securities trading, where a clearing house becomes counterparty to each side of a trade, after the trade has been agreed. This is necessary to facilitate netting
Found on http://www.duke.edu/~charvey/Classes/wpg/bfglosd.htm
• (n.) A condition, relating to a deed, which being performed, the deed is defeated or rendered void; or a collateral deed, made at the same time with a feoffment, or other conveyance, containing conditions, on the performance of which the estate then created may be defeated. • (n.) A defeat; an overthrow. • (n.) A rendering null or
Found on http://thinkexist.com/dictionary/meaning/defeasance/
A practice where the borrower removes cash or bonds sufficient to service a debt, setting aside cash or bonds. Discover What It`s Like to Live Easy With EquiTrend
Found on http://www.equitrend.com/glossary800.xhtml
- Annulment of a contract or deed; a clause within a contract or deed that provides for annulment.
Found on http://www.nysscpa.org/prof_library/guide.htm
n. In the case of some event occurring, the document that terminates the effect of an existing writing such as a contract, deed, or bond. It is an antiquated word.
Found on http://www.legal-explanations.com/definitions/defeasance.htm
The risk that an issuer of a bond may be unable to make timely principal and interest payments. Also
Found on http://www.encyclo.co.uk/local/22402
The act of rendering something null and void, or a clause in a deed, lease, will, or other legal document that completely or partially negates the document if a certain condition occurs or fails to occur. For example, a will may provide that a gift of property is defeasable -- that is, void -- if the beneficiary fails to marry before a certain time
Found on http://www.nolo.com/dictionary/defeasance-term.html
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