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Debenture

A document stating the terms of a loan, usually to a company. Debentures may be secured on part or all of a company's assets, or they may be unsecured. Often also referred to as a floating charge, and the lender is often referred to as the debenture holder.

(Please Note: The definitions are not intended to be exhaustive summaries of the Law. They are based on material from The Insolvency Act 1986 , and other Acts dealing with this subject.)

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