Since February in 2002, interest rate venture of Chinese debenture market is gradually rising.

自从2002年2月以来，我国债券市场上的利率风险逐步升温。

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If debenture interest is not paid, the trust deed may allow the debenture holders to appoint a receiver to sell sufficient assets for the debenture to be paid.

当债务人无法向债权人支付收益时，债权人可以根据契约向指定的委托管理人出售相应的资产来进行偿付。

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If Clearwire is unable to repay the PIK Debenture during this 30 day period, it would be entitled to convert the principal amount and accrued interest on the PIK Debenture into a note on terms comparable to the 2015 Senior Secured Notes previously repaid, having a maturity of December 1, 2015.

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If Spectrum Assets are not acquired due to a failure to obtain required regulatory approvals, Clearwire would, within 30 days following termination of the spectrum purchase agreement, repay the PIK Debenture plus interest at 6% per annum.

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In these deals NIR would provide cash to a publicly-traded company in exchange for a convertible debenture that entitled NIR to receive interest and repayment in the form of cash or discounted equity securities.

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