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novation
(redirected from novations)

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Novation
Defeasance whereby the firm's debt is cancelled.
Novation
1. The transfer of a contract from one party to another by mutual consent of the original counterparties and the concurrence of the new party.

2. See: Rollover.
novation
The substitution of one debt with another debt.
novation

The substitution of a new contract, debt, or obligation for an existing one. Usually encountered when a tenant assigns the lease to another,or when a new building owner requires all existing tenants to execute novation agreements.The effect is to extinguish all obligations under the old agreements and replace them with the new obligations.
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They're negotiable securities or contracts, basically, and so there are novations of these contracts, which means that you have two parties at the beginning who have agreed to do a swap or whatever it is and then one party decides to lay off that risk on somebody else who's interested in taking it up.
'I think the SEC was distracted': outgoing Securities and Exchange ... by Gillespie, Nick; Welch, Matt / Reason
At the suggestion of Cargill's ebony council, we embarked on a strategic partnership with Boston-based Novations Group Inc.
Diversity & inclusion: insights from American Express, Cargill and ... by Heffes, Ellen M. / Financial Executive
Global consulting and training firm Novations Group surveyed 2,000 senior human resource and training and development executives about their experiences with major projects.
Solving the puzzle: insurers find that building a successful IT ... by Chordas, Loft / Best's Review
 
 
 
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