BILLINGS IN EXCESS OF COSTS Definition

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BILLINGS IN EXCESS OF COSTS see COST IN EXCESS OF BILLINGS.

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PASS-THROUGH is a mortgage or asset-backed security for which the payments on the underlying debt are passed from the debtor through the servicing agent (who receives a fee) to the security holder.

ROLLING STOCK is the equipment available for use as transportation, as automotive vehicles, locomotives, or railroad cars, owned by a particular company or carrier. Does not include aircraft or water borne craft.

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