Both systems saw extending the period of indenture as the best punishment for those seeking mobility.
While others indenture themselves with 35-year mortgages, Yamazaki is paying off her home in one-fifth of that time .
With publicly held debt obligations, you might have to get a vote of all the bondholders around the country to get approval of a change in the indenture.
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The company notes that the indenture governing the notes provides the company a 30-day grace period to make the interest payment, during which it expects to continue discussions with the noteholder group.
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Baldt pushes his 20 analysts to focus on the minutiae: What's in the bond indenture to secure repayment, under what circumstances can they be called in early, and does the market misunderstand them?
They faced a formidable challenge: The one part of the indenture that could not be broken was the prohibition of change the shapes and sizes of the galleries and the hanging arrangements must all remain the same.
The Company received a letter from the Brown Rudnick law firm which said that the retailer had breached a covenant of a bond indenture agreement by granting a lien on its inventory, according to the complaint.
The collection is owned by the Barnes Foundation, established in 1922 under a legal arrangement called an indenture of trust, with the specific stipulation that everything was always to remain exactly as it was in Dr. Barnes's lifetime.
Relying on the bond trustee to decide when to declare a default is a hit or miss exercise since the trustee is under the direction of the current bondholders and the bond indenture, both of who may limit his actions in this regard.
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That is, a written clause in the bond indenture that says, if a control change occurs (i.e. merger, acquisition or LBO) then bondholders have the right to put their bonds back to the company at a predetermined price when a sale of substantially all the assets occurs.
When he died in 1951, his will reconfirmed the terms of the indenture, including the stipulation that nothing could ever be moved or changed, to protect his legacy, but also to foreclose any attempt by the Philadelphia art establishment to take over the collection, no longer underappreciated and now enormously valuable.
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