Examlex
All of the following are benefits of after-school programs EXCEPT
Senior Debt
Debt that has priority over other unsecured or otherwise more junior debt owed by the issuer in the case of bankruptcy.
Debentures
A type of long-term debt instrument that is not secured by physical assets or collateral.
Callable Unsecured Bonds
Bonds that can be redeemed by the issuer before their maturity date at a specified call price and are not secured by collateral.
Subordinated Debentures
Bonds that have a lower priority than other debt obligations in case of liquidation, often carrying higher risk and yield.
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