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prior lien bond
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prior lien bond
pri·or lien bond (plural pri·or lien bonds)


noun 
Definition:
 
bond with superior claim: a bond that has a higher claim to repayment than other bonds from the same issuer
Encarta® World English Dictionary [North American Edition] © & (P)2009 Microsoft Corporation. All rights reserved. Developed for Microsoft by Bloomsbury Publishing Plc.
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