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 ?
"Investigators are seeking Arthur Edigin, 62, in connection w/the shooting outside Christ the Redeemer Catholic Church on Huffmeister.
The 'BBB-' IDR and downgrade to 'BBB-' from 'BBB' reflect Holy Redeemer's weakened operating profitability over the past few years and the expectation that performance will only modesty improve over the next year or so.
"On behalf of Our Redeemer Lutheran School, we sincerely apologize for the fact that an assignment given to a fourth-grade class yesterday was not clearly explained to students and their parents.
Caption: Heather Steeves and Karen Turner during their wedding at Church of the Redeemer
| | Nelson's Column: 52m | | Arc de Triomphe: 50m | | Cardiff's Christmas tree: 40m | | Cardiff Castle clock tower: 40m | Christ the Redeemer: 38m | | Diplodocus (length): 30m | | Brandenburg Gate: 26m | | Angel of the North: 20m | | Adult male giraffe: 5.5m | | Double-decker bus: 4.5m
As you arrive at the base of Christ the Redeemer, the superb piece of architecture arrests your breath.
The NCUA's Office of Consumer Protection granted a single associational common bond charter to Redeemer FCU to serve members and employees of the Redeemed Christian Church of God North America, Inc.
"Everyone needs shelter; everyone needs a protective environment," McClure notes, adding this is precisely what Most Holy Redeemer attempts to do--provide shelter.
Creamer and the consulate public affairs staff worked with the Catholic Archdiocese of Rio de Janeiro and Christ the Redeemer Parish Rector Father Omar Raposo for nearly a year on the illumination project, and the lighting was set for July 4.
ladbrokes said the image of Rio de Janeiro's iconic landmark Christ the Redeemer had been permanently removed from the website of their Betdaq betting exchange arm.
Education Minister John O'Dowd has approved a development proposal to increase the capacity at Christ the Redeemer Primary School in Belfast.
Lee ompson, 31, managed to convince the Brazilian tourist board and the local Catholic church to let him climb the iconic 124-foot Christ the Redeemer statue.