maintenance and replacement call

maintenance and replacement call definition - business

maintenance and replacement call

A special provision of some bond indentures (especially those of utilities) that permits the borrower to pay off the issue (usually at par) before maturity if the collateral is replaced or disposed of.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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