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Defeasance (or defeazance) (French: défaire, to undo), in law, is an instrument which defeats the force or operation of some other deed or estate; as distinguished from condition, that which in the same deed is called a condition is a defeasance in another deed. [1] The term is used in several contexts in finance, including: [2]
Accounting and Financial Reporting for Pensions and Related Assets That Are Not within the Scope of GASB Statement 68, and Amendments to Certain Provisions of GASB Statements 67 and 68 June 2015 Amended by various GASBS; 74. Financial Reporting for Postemployment Benefit Plans Other Than Pension Plans June 2015 Amended by various GASBS; 75.
Commercial mortgages often contain lockout provisions (typically a period of 1–5 years [2] where there can be no prepayment of the loan) which they can be subject to defeasance, yield maintenance and prepayment penalties to protect bondholders. European CMBS issues typically have less prepayment protection.
The statement explained that a bond defeasance is a process that sets aside and invests the remaining bond dollars in escrow to ensure that the principal and interest payments on the bonds are ...
Historically, the most significant type of penal bond was the penal bond with conditional defeasance. A penal bond with conditional defeasance combined in one document the bond (the promise to pay a specified amount of money) with the contractual obligation.
A recognizance is subject to a "defeasance"; that is, the obligation will be avoided if person bound does some particular act, such as appearing in court on a particular day, or keeping the peace. [1]
From January 2008 to December 2012, if you bought shares in companies when Christine T. Whitman joined the board, and sold them when she left, you would have a 7.0 percent return on your investment, compared to a -2.8 percent return from the S&P 500.
The S&P 500 lost 1.1% and the Nasdaq Composite was down by 1.5%, after a selloff in Big Tech stocks. Shares of Tesla closed lower by around 5%, while Amazon ...