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LSDefine

Simple English definitions for legal terms

plain bond

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A quick definition of plain bond:

A plain bond, also known as a debenture, is a type of debt that is not secured by any specific asset. It is backed only by the general credit and financial reputation of the issuer, usually a corporation. This means that if the issuer defaults on the debt, the bondholders have no claim to any specific property or assets. Debentures can come in different forms, such as convertible debentures that can be changed into stock, sinking-fund debentures that are secured by payments into a fund, and subordinate debentures that are subject to other debts. In English law, a debenture can also refer to a company's security for a monetary loan, usually creating a charge on company stock or property.

A more thorough explanation:

A plain bond, also known as a debenture, is a type of debt instrument that is not secured by any specific asset. It is backed only by the general credit and financial reputation of the corporate issuer. This means that if the issuer defaults on the bond, the bondholders have no claim on any specific assets of the company.

For example, if a company issues a plain bond for $1,000, the bondholders are owed $1,000 plus interest. However, if the company goes bankrupt and cannot pay back the bond, the bondholders cannot claim any specific assets of the company to recover their money.

Plain bonds are often used by companies to raise capital for various purposes, such as expanding their business or funding new projects. They are typically issued with a fixed interest rate and a maturity date, at which point the company must repay the principal amount of the bond.

Convertible debentures are a type of plain bond that can be converted into another security, such as stock. Sinking-fund debentures are secured by periodic payments into a fund established to retire long-term debt. Subordinate debentures are subject to the prior payment of ordinary debentures and other indebtedness.

plaidoyer | plain-language movement

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ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
WorthlessAttractiveZombie
7:44
My berkeley paragraph finally disappeared. I definitely think it is just an indicator that they are actively reviewing files, and does not mean anything about A, WL, or Rs
WorthlessAttractiveZombie
7:46
Also has anyone's date disappeared for W&L? Mine did last night
7:55
@WorthlessAttractiveZombie: mine did yesterday morning
7:56
Oops sorry I meant Vilanova. Mine disappeared last week
soapy
8:48
UMN under review! As predicted, decisions are gonna come out early December
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