I. Debentures simply, sometimes called naked debentures (that is to say), debentures which are not in any way secured, and Mortgage debentures (a) (that is to say), debentures which are secured (either only by a charge in the debentures themselves, or else by such a charge and a further charge created by a trust or covering deed).
II. Determinable debentures (that is to say), debentures which become payable in any event at or not later than a specified date, and Perpetual debentures (that is to say), debentures which do not become payable in any event at any fixed date, but which only become payable on the happening of certain events (such as the company being wound up or default being made in the payment of interest for a specified period), and
III. Debentures (payable) to bearer (being sometimes convertible into debentures payable to the registered holder) and debentures (payable) to the registered holder (registered debentures ).
The following are the various kinds of debentures :—
(1) Perpetual debenture to bearer.
(2) Determinable debenture to bearer.
(3)Perpetual debenture to registered holder.
(4) Determinable debenture to registered holder.
(5) Perpetual mortgage debenture to bearer.
(6) Determinable mortgage debenture to bearer.
THE COUNTRY AND OF EARTH
EARTH
EARTH
