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Each held about 20% share in the company, with the balance made up by small investors who had some affinity with the club; the initial agreement called for a long-term debenture of $400,000 to be set up that would sustain the rowing club in the absence of its football income.
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An earlier plan to raise cash to fund the redevelopment by selling long-term debentures that would entitle owners to the best seats for the grand prix and other races, as well as "money can't buy" opportunities, has been put on ice until the autumn.
The event makes millions every year, out of broadcasting fees and the sale of debentures – long-term season tickets – but the Lawn Tennis Association still can't conjure up a British champion.
Although in the United States the term debentures ordinarily refers to relatively long-term unsecured obligations, in other countries it is used to describe any type of corporate obligation, and "bond" more often refers to loans issued by public authorities.
Abundance uses debentures, which are effectively long-term unsecured loans taken out by a company, which it agrees to repay at a specified date.
Long-term credit banks, which typically issue bank debentures to raise money, were designed to help rebuild corporate Japan after World War II.
The row labelled "Long-term Liabilities Principal Repayment" reflects repayment of the SBA guaranteed 504 Debenture Program loan.
Differences in yield have also appeared between the debentures issued by IBJ and by the other two long-term credit banks.
The long-term goal?
Short-term frustration for long-term gain".
Style, short-term shaping, long-term architecture.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com