post-obit bond

Definitions of post-obit bond
  1. noun
    a bond made by a reversioner to secure a loan; payable out of his reversion
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    type of:
    bond, bond certificate
    a certificate of debt (usually interest-bearing or discounted) that is issued by a government or corporation in order to raise money; the issuer is required to pay a fixed sum annually until maturity and then a fixed sum to repay the principal
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