BASE CAPITAL Definition

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BASE CAPITAL includes (1) shares that (a) are non-cumulative, non-retractable, non-redeemable and, if convertible, are only convertible into common shares, and (b) have been issued and paid for; base capital also includes (2) contributed surplus, and (3) retained earnings.

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SALE AND LEASEBACK is a financial transaction, where one sells an asset and leases it back for the long-term. 

RESIDUAL CLAIM is a claim to a share of earnings after debt obligations have been satisfied.

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