Related Words

Senior Circuit: Refers to the National League, which has been in existence since 1876, as compared to the American league, which was founded in 1901.

Senior Market: A market segment that is comprised largely of persons over age 65 who are eligible for Medicare benefits.

Senior Loan: A real estate loan in the first priority position.

Senior Debt: Debt that must be repaid before subordinated debt receives any payment in the event of default.

Senior Mortgage Bond: A bond that, in the event of bankruptcy, will be redeemed before any other bonds are repaid.

Senior Bond: Senior bonds offer slightly lower interest rates than subordinated or junior bonds because they are considered less risky. A senior bond has priority in interest payments, and if a bond issu . . . View Full Definition

Senior Refunding: Replacement by the issuer of securities with 5-to 12-year maturities with securities of 15-year or longer maturities, in order to delay, reduce, or consolidate payment.

Short-Circuit: A defect in a winding which causes part of the normal electrical circuit to be bypassed. This frequently results in reducing the resistance or impedance to such an extent as to cause overhea . . . View Full Definition

Systemic Circuit: The loop of the circulatory system that carries blood through the body and back to the heart.

Short Circuit: The condition that occurs when a circuit path is created between the positive and negative poles of a battery, power supply, or circuit. A short circuit will bypass any resistance such as wo . . . View Full Definition