Examples of Defease in a sentence
Defease: To set aside sufficient money to retire outstanding debt.
MacCary, How to Defease a Loan on Schedule and Avoid Future Liability, Cal Real Estate Journal (June 4, 2007), at <http://www.nossaman.com/ showarticle.aspx?show=3852> (accessed August 1, 2008).
N.J.S.A. 48:3-9 Medium Term Notes; (2) to Enter into Interest Rate Risk Management Transactions Related to Certain Outstanding Long-Term Debt Securities and any New Issuances Approved Hereunder; (3) Redeem, Refinance or Defease any of the Company’s Outstanding Long-Term Debt Securities; and (4) Pursuant to N.J.S.A. 48:3- 9, to Enter into a Credit Facility Allowing the Issuance of Bank Note Obligations.Mark C.
Lien on Cash Deposited to Defease (a) $58,300,000 aggregate face amount principal amount of Showboat's First Mortgage Bonds due 2008, and (b) the $2,400,000 aggregate outstanding principal amount of Showboat's Senior Subordinated Notes due 2009.
Subject to compliance with this Article, the Company or the Guarantor may Defease any Securities pursuant to this Section notwithstanding the prior Covenant Defeasance of such Securities pursuant to Section 1303.