redeem

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Redemption

1. In bonds, the act of an issuer repurchasing a bond at or before maturity. Redemption is made at the face value of the bond unless it occurs before maturity, in which case the bond is bought back at a premium to compensate for lost interest. The issuer has the right to redeem the bond at any time, although the earlier the redemption take place, the higher the premium usually is. This provides an incentive for companies to do this as rarely as possible.

2. The act of the issuing company repurchasing stocks or mutual funds. In the case of mutual funds, the repurchase is made at net asset value per share. Stocks may be redeemed in cash or by proration. See also: Proratable factor.

redeem

(1) In mortgages, to cure a default by paying all past-due sums and penalties after receiving notice of default, but before acceleration. (2) To exercise the post-foreclosure right of redemption, if allowed. (3) Under federal law, the IRS has 120 days after foreclosure to purchase property on which it had a lien—to redeem the property. (It rarely does this,and would only do so if it believed it could sell the property at a profit large enough to justify the time and trouble.)

References in periodicals archive ?
It meant the French won 12 of the 13 games against Welsh opposition with only SWANSEA'S draw against BEGLES the redeeming feature.
The one redeeming feature was the performance of Stuart Pearce's young defence.
Even my gran's plastic head scarf with the polka-dot pattern has a redeeming feature.
While Albion's redeeming feature is their away record, home fans want far better than this.
Paul Strang's bowling was the only redeeming feature of Zimbabwe's attack, the leg-spinner taking three for 32.
The one redeeming feature is a stunning star debut by Clooney.
The one redeeming feature of ITV's Britain's Got Talent, hosted by the irrepressible Ant and Dec, was the sheer variety of deluded lunatics who took part.
Now had they been drug pushing serial burglars without any redeeming feature, then the judiciary would have bent over backward to ensure they won their case.
Don't worry, there's another redeeming feature You can help aid the centre to feed and nurse It relies on people's kindness (nudge, wink, with your purse
The one redeeming feature on Merseyside, at least so far as rugby is concerned, is the dramatic improvement at Orrell since the club was bought by Dave Wilson.
The game have one redeeming feature however, the one that has probably kept this genre going for four series.
The only redeeming feature was a rendition by Lee of his new single Turn It Around, which has chart potential.