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Limitation on Liens |
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Limitation on liens Limitation on Liens An aspect of some bonds in which the issuer is only allowed to grant liens on its assets in certain circumstances. A bond with a limitation on liens generally carries lower risk because, in the event of default, the issuer's assets have fewer liens from secured creditors. This means that the bondholders have a higher priority on the proceeds of liquidation. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| These include change of control provisions in the company's private placements and preferred securities as well as limitation on liens in the senior unsecured bonds and private placements. Under ArvinMeritor's unsecured indentures, the company has a limitation on liens of up to 15% of the value of consolidated net tangible assets, which is defined to exclude certain 'principal property' assets. |
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