In this case, management bargained harder: the agreement was to issue pension obligation bonds that changed the amortization period from 12 to 18 years, and for wages to be redirected to paying the bondholders for an 18 year period.

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They, among other things, cannot have certain risky features like negative-amortization, where the amount owed actually increases for some period because the borrower does not even pay the interest and the unpaid interest gets added to the amount borrowed.

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Earnings before interest taxes depreciation and amortization (EBITDA) grew at an 85% clip in the six-month interim period ended in June 2005.

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