Sentences with phrase «pledge of the issuer»
General obligation bonds issued by local units of government are secured by a pledge of the issuer's property taxing power and must be authorized by the electorate.
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An unsecured debenture usually has a «negative pledge» which prevents the issuer from having assets secured ahead of that issue.
Another aspect of bond characteristics is a covenant: a pledge or undertaking by an issuer to do certain things or avoid others.
A protective clause found in a bond's indenture or contract that binds the bond issuer to pledging all subsequently purchased assets as part of the collateral for a bond issue.
While the issuer does not have a legal obligation to make such a payment, the failure of the issuer to honor the moral pledge would have negative consequences for its creditworthiness.
A revenue bond which, in addition to its primary source of security, possesses a structure whereby an issuer pledges to make up shortfalls in a debt service reserve fund, subject to legislative appropriation.
Collateral pledged by a bond issuer (debtor) to an investor (lender) to secure repayment of the loan.
Card issuers respond to Hurricane Harvey with donations, fee waivers Banks and credit card issuers are stepping up in the wake of Hurricane Harvey and pledging millions of dollars in donations and fee breaks for Texans directly affected by the natural disaster.