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But this still leaves Sotheby's with $100 million to pay, $50 million in cash and $50 million in the form of certificates to sellers.
Both auction houses are able to make $50 million of their payments in the form of certificates issued to clients toward future consignments.
Of the $100 million Sotheby's has to pay, $50 million can be in the form of certificates offered like lines of credit to future sellers.
MEL, at which Mr Meinl had no formal role, then sold shares (in the form of certificates enshrining a claim on a share) to a wide public.
Of the $100 million obligation that would remain after Mr. Taubman's contribution, Sotheby's, like Christie's, would be allowed to pay $50 million in the form of certificates to sellers.
Many towns and counties, looking for quick cash, auction off these liens in the form of certificates that entitle the holder to future payments of the delinquent taxes, plus penalties and interest, which can run up to 18% annually.
Similar(50)
If you change it every few years, you no longer have a classification exactly; you have a form of certificate".
I did, however, make it into the ranks of the select few (about 4.2%) who managed to finish more than half a class without earning any form of certificate.
So the plaintiffs argued that the rating agencies, rather than Lehman, as listed in the offering documents "largely determined the composition of the securitized pool of loans, the amount and form of the certificates' levels of credit enhancement before the certificates were created and the ratings agencies were 'engaged' to rate the securities".
While no one disputes that Universal owns the copyrights to its sound recordings, MP3.com has challenged the form of the certificates Universal filed with the copyright office.
The experts, hired by Judge Lewis A. Kaplan of Federal District Court in Manhattan, gave crucial backing to a provision that had been a sticking point: the distribution of part of the money in the form of discount certificates rather than cash.
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CEO of Professional Science Editing for Scientists @ prosciediting.com