Definitions for "General Mortgage Bond"
A bond which is secured by a blanket mortgage on the company's property, but which is usually outranked by one or more other mortgages.
A bond which is secured by a blanket mortgage on the issuer's property, but may be subordinate to one or more other mortgages.
A bond that is secured by a blanket mortgage on the company's property but may be outranked by one or more other mortgages.