maturity

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maturity

n. 1) the date when the payment of the principal amount owed under the terms of a promissory note or bill of exchange becomes due. Quite often a note states that failure to pay interest or installment payments when due "accelerates" the note, making the "maturity date" immediate if such payments are demanded and not paid. 2) the age when one becomes an adult, which is 18 for most purposes. (See: promissory note, bill of exchange, acceleration, legal age)

maturity

noun adulthood, completion, culmination, due date, evolution, falling due, full age, full development, full growth, majority, maturitas, perfected condition, perfection, preparedness, readiness
Associated concepts: maturity of a debt, maturity of an obliiation
See also: age, discretion, experience, finality, majority

MATURITY. The time when a bill or note becomes due. In order to bind the endorsers such note or bill must be protested, when not paid, on the last day of grace. See Days of grace.

References in periodicals archive ?
Pro forma for the additional debt associated with this announcement, Tribune will have a high degree of short-term debt ($850 million to $1 billion) and will face its first significant maturity in 2008 when its revolver comes due.
Speedy intends to continue to pay all interest as it comes due on the Senior Secured Notes with the next interest payment being due on September 30, 2005.
It also possesses minimal near-term requirements with regard to lease expirations and debt maturities as only 1% of leases and less than 10% of debt comes due in the next five years.
4 billion of outstanding debt is well-laddered - $100 million comes due in 2006.
In the meantime, management plans to repay the term debt as it comes due from internal cash generation.