STUART STEVENS
Being Stuck in a Courtroom Is Just What Trump Needed
The Shadow on the Woman " 1953
By Pablo Picasso
Oil on canvas
The Art Gallery of Ontario ( on permanent loan to the Israel Museum )
During a pandemic, insurers can only underwrite slices of risk. Otherwise they would go bust, says Allianz’s CEO
Japan's Parliament Installs Shinzo Abe as Prime Minister
New York Times
The victory puts Mr. Abe, 58, a former prime minister and an outspoken nationalist, at Japan's helm as it faces the growing burden of its aging population, years of industrial decline and the challenge of an increasingly assertive China. The change in ...
"No, it would only be a waste of time and money," said Petrovich. And Akaky Akakiyevich went away after these words, utterly discouraged. But Petrovich stood for some time after his departure, with significantly
compressed lips, and without betaking himself to his work, satisfied
that he would not be dropped, and an artistic tailor employed.
She and her colleagues had gone to Morocco in search of help for a kind of project that the Metropolitan, which generally concerns itself with the work of dead artists, has rarely undertaken in its 140 years: to install a group of living artists inside the museum for the purposes of creating a permanent new part of its collection.
The last time such a thing happened was in 1980, when Brooke Astor underwrote the re-creation of a Ming dynasty garden courtyard, made by more than two dozen master builders from Suzhou, China, who spent four months on the job within the museum’s Chinese painting galleries, working with hand tools unchanged for generations.
Coty Picks Underwriters for IPO
What Is a Permanent Loan?
A permanent loan is a type of loan with an unusually long term. The term can have different meanings, however, depending on the context in which it is used.
Despite its name, permanent loans are generally not permanent, although they may last for a long time.
KEY TAKEAWAYS
- Permanent loans have different meanings depending on their context.
- The term is commonly used in the fine art and real estate markets.
- With the exception of certain government bonds, permanent loans are not in fact permanent.
Understanding Permanent Loans
The term "permanent loan" can be confusing because its meaning can differ greatly depending on the context. For example, in the fine art market, permanent loans are arrangements in which the donor of an artwork agrees to lend it to an art gallery or museum for an extended period of time.
Permanent loans in this context are alternatives to an outright gift or donation. Yet although the term "loan" typically implies a financial motive, permanent loans in the art world generally do not involve any interest payments or other financial compensation. Instead, the donor will simply expect certain parameters to be followed by the receiving institution, such as agreeing on the duration of the loan and arranging that the donor will receive public recognition for the loaned artwork. Despite the word "permanent," these permanent loans are in fact temporary, with terms generally ranging between five to thirty years.
underwrite
(ŭn'dər-rīt')
v., -wrote (-rōt'), -writ·ten (-rĭt'n), -writ·ing, -writes. v.tr.
- To assume financial responsibility for; guarantee against failure: underwrite a theatrical production.
- To sign (an insurance policy) so as to assume liability in case of specified losses.
- To insure.
- To insure against losses totaling (a given amount).
- To guarantee the purchase of (a full issue of stocks or bonds).
- To agree to buy the unsold part of (stock not yet sold publicly) at a fixed time and price.
- To write under or at the end of something.
- To subscribe to, especially to sign or endorse (a document).
- To support or agree to (a decision, for example).
To act as an underwriter, especially to issue an insurance policy.
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