Thesaurus: debenture stock

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1. The debt or series of debts, collectively, represented by a series of debentures; a debt secured by a trust deed of property for the benefit of the holders of shares in the debt or of a series of debentures. By the terms of much debenture stock the holders are not entitled to demand payment until the winding up of the company or default in payment; in the winding up of the company or default in payment; in the case of railway debentures, they cannot demand payment of the principal, and the debtor company cannot redeem the stock, except by authority of an act of Parliament. [Eng.]
2. The debt or series of debts, collectively, represented by aseries of debentures; a debt secured by a trust deed of property forthe benefit of the holders of shares in the debt or of a series ofdebentures. By the terms of much debenture stock the holders are notentitled to demand payment until the winding up of the company ordefault in payment; in the winding up of the company or default inpayment; in the case of railway debentures, they cannot demandpayment of the principal, and the debtor company cannot redeem thestock, except by authority of an act of Parliament. [Eng.]