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Simple English definitions for legal terms

subordinate debenture

Read a random definition: income exclusion

A quick definition of subordinate debenture:

A subordinate debenture is a type of bond that a company issues to borrow money. It is called "subordinate" because it is paid back after other debts are paid. This means that if the company goes bankrupt, the holders of subordinate debentures will be paid last. Subordinate debentures are not secured by any specific asset, so they are riskier than other types of bonds. They are also sometimes called "unsecured bonds" or "naked debentures".

A more thorough explanation:

A subordinate debenture is a type of debt instrument that is lower in priority than other types of debt. It is a type of debenture, which is a bond that is backed only by the general credit and financial reputation of the corporate issuer, not by a lien on corporate assets.

For example, if a company issues both ordinary debentures and subordinate debentures, the ordinary debentures would be paid off first in the event of bankruptcy or default. The subordinate debentures would only be paid off after the ordinary debentures and other types of debt have been paid.

Another type of debenture is a convertible debenture, which can be changed or converted into some other security, such as stock. A convertible subordinated debenture is a debenture that is subordinate to another debt but can be converted into a different security.

A sinking-fund debenture is a debenture that is secured by periodic payments into a fund established to retire long-term debt. This type of debenture helps ensure that the company has the funds to pay off its debt when it becomes due.

In English law, a company's security for a monetary loan is also called a debenture. The security usually creates a charge on company stock or property.

Overall, subordinate debentures are a type of debt instrument that is lower in priority than other types of debt. They are a way for companies to raise funds, but investors should be aware that they may not be paid off first in the event of bankruptcy or default.

subordinate | subordinate debt

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NosyBeagle
19:28
Do tell
i had to drop out of a grad program but i explained it in my gpa addendum bc it was the same underlying event causing both
i was also named in a civil lawsuit that got dismissed but only one school asked about it
sorry probably not helpful
ParallelAgreeableOrangutan
19:58
idk what the situations are, but you absolutely should write about them if the school asks about them—the only time you should be asking *whether* to write one is when you're not sure whether your situation qualifies as what they're asking about
ParallelAgreeableOrangutan
19:59
better question is usually *how* to write about them
ParallelAgreeableOrangutan
20:00
I had to write about write
ParallelAgreeableOrangutan
20:01
... write-ups at work (petty, and they were removed from my file after a year, but even so the app asked so I wrote)
NosyBeagle
20:05
Ah it cancelled out my msg cus I switched tabs. But I’ll just tell you guys cus I get mixed answers: a) accused of cheating on a calc exam freshman year but was cleared of wrongdoing, b) sent to the hospital senior year because I go too drunk
ParallelAgreeableOrangutan
20:12
Seems like you'd need to write about A because it went through a formal process, but it shouldn't hurt you if you explain it straightforwardly and explain you were cleared (just don't be weirdly salty about it like you're holding a grudge)
ParallelAgreeableOrangutan
20:12
Re B, did this involve school in any way? Is there an app that has a C&F question that you think this applies to?
ParallelAgreeableOrangutan
20:13
Maybe you're not deep enough into the process to know this—each school has its own unique set of C&F questions, so you should disclose exactly what they ask about, no more, no less
NosyBeagle
20:14
OH
NosyBeagle
20:14
Ok why did I think it was just gonna be one type of q for all. My bad folks. Ignore my info dump
ParallelAgreeableOrangutan
20:16
No worries! Frankly I think it's wild that applications have weird hidden quirks that you don't know about until you're actually logged into LSAC working through the app. There's some info you can find about the oddball/unique questions you'll find on specific apps, so you might want to look for that for schools you're going to apply to
ParallelAgreeableOrangutan
20:17
Like on various consultants' blogs, reddit, etc
NosyBeagle
20:17
🫡 thank you good sir or ma’am or bam
ParallelAgreeableOrangutan
20:17
Ooh can I be a bam
NosyBeagle
20:39
You may
20:45
ima write my personal statement about being fired and how that made me want to do law but it would be funny if I also had to write an addendum about it
20:45
turns out defense companies don’t like it when you question the war machine 🙏
20:46
“What are your opinions on Edward Snowden” - my boss
ParallelAgreeableOrangutan
21:02
I wrote optional essays about a situation that affected my undergrad performance. For any school that required an "education gap addendum" I was basically like "pls see my optional essay"
ParallelAgreeableOrangutan
21:02
¯⁠\⁠_⁠(⁠ツ⁠)⁠_⁠/⁠¯
NosyBeagle
21:12
did they accept that?
NosyBeagle
21:12
that reminds me of filling out job apps and they want you to type out your resume in a text box. like huh??? open the pdf, idiots
ParallelAgreeableOrangutan
21:18
I mean I was nicer about it—I'd put a couple of sentences explaining it super lo-res, and then I said something like "I speak to this situation in detail in my optional essay."
ParallelAgreeableOrangutan
21:20
They don't send your application back to you and tell you to redo an addendum if they don't like it, so the only way to know whether they "accepted" it, as it were, is admissions results
Bettercaulsaul
22:28
Helpful video I found https://youtu.be/2ZVrX6DTSKU?si=KsZeWbF4_fJuqKl5
23:17
who up lsdin they law
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