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Payment Default
Failure to meet the obligations of a credit agreement, such as not making the required payments on a loan or bond by the due date.
Technical Default
A situation where a borrower violates a term or condition of a loan agreement without causing financial harm to the lender.
Restricted Stock
A type of stock that is not fully transferable until certain conditions have been met, typically used as part of employee compensation packages.
Transferable
The quality of an asset that allows it to be passed or conveyed from one entity to another.
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