Legal defeasance

Legal defeasance
The deposit of cash and permitted securities, as specified in the bond indenture, into an irrevocable trust sufficient to enable the issuer to discharge fully its obligations under the bond indenture. ...

Legal defeasance
Definition: [crh] The deposit of cash and permitted securities, as specified in the bond indenture, ...

A refunding transaction which is an economic defeasance rather than a legal defeasance since only the principal is defeased on the refunded bonds to the call date.

A legal proceeding for liquidating or reorganizing a business.
Legal defeasance ...

The legal release of a debtor from being the primary obligor under the debt, either by the courts or by the creditor. Also called legal defeasance. See in-substance defeasance.
deferred charges ...

See also: Indenture, Irrevocable trust, Revocable trust, Bond indenture, Expense