EQUIPMENT TRUST CERTIFICATE Definition

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 EQUIPMENT TRUST CERTIFICATE is a bond that is secured by a first claim (lien) on certain equipment. The title to the equipment is held in trust until the bond is paid off.

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MATURITY DATE of a financial asset is the date at which that asset is converted into a specified amount of money or physical assets, e.g. the date on which an issuer of a bond promises to repay the full amount borrowed.

FEE ABSOLUTE see FEE SIMPLE.

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