As a rule, the riskier the bond and the further it is from its redemption date, the lower the value of the loan that can be secured on it.

这是一个规律，债券风险越大，距离偿还期越远，作为贷款抵押品的价值越低。

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Investors should be aware that (despite the often generous payouts) debentures are usually at the low end of the credit totem pole, and payouts may be deferred until the redemption date of the security.

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The Purchaser may redeem the Seller Notes, in whole or in part, at any time, at par, plus accrued and unpaid interest to the redemption date, plus, after the fifth anniversary of the Closing, a premium declining over time to zero.

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