Business and Personal Finance Dictionary

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• REFUND PROVISIONS
  
  The collective term for the facts that describe the first and subsequent call dates, call or redemption prices and premiums, the call priority, the eligible call dates, the number of days notice required of an existing or actual bond Series. The information is available in the Official Statement or the Trust Indenture, along with the defeasance requirements of the Series. Defeasance requirements determine the type of securities that are necessary for the escrow.
  
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