The Refunding Provision of an Indenture Allows Bonds to Be

Multiple Choice

The refunding provision of an indenture allows bonds to be retired EXCEPT if

A) they are replaced with a lower coupon bond issue.
B) the remaining time to maturity is less than five years.
C) the remaining time to maturity is greater than five years.
D) the stated time period in the indenture has not passed.
E) the stated time period in the indenture has passed.