PAC Bond: Stands for Planned Amortization Class bond. A tranche class offered by some CMOs that has a sinking fund schedule and an ability to make principal payments that are not subordinated to other classes.

 

Related Words

PAC Bond: Stands for Planned Amortization Class bond. A tranche class offered by some CMOs that has a sinking fund schedule and an ability to make principal payments that are not subordinated to other classes.

Pack: A full count of ten; a strike; also, an adjective to describe a full pocket hit; i.e., it was packed. See also six pack.

Pack Hardening: A heat-treating process in which the workpiece is packed into a metal box together with charcoal, charred leather or other carbonaceous material to case-harden the part.

Pacinian Corpuscles: Sensory receptors located deep in the epidermis that detect pressure and vibration.

Pacing: Means the patrol car matches the suspected violator's speed. This is done with a calibrated speedometer or radar inside the patrol vehicle. When speed radar is used in this manner it is actu . . . View Full Definition

Pack-in Game: A game that comes packaged with a system. For example, the NES pack-in was Super Mario Bros, and the Genesis pack-in was Sonic the Hedgehog.

Package: Tickets or services bundled together and sold at single all-inclusive price.

Packager: Entity that puts together the tour product.

Package Tour: A tour that includes pre-paid transportation, accommodations and/or some combination of other tour elements, such as meals, transfers, sightseeing or car rental. A package tour may include m . . . View Full Definition

Package Mortgage: A mortgage on a house and property in the house.