Definition of "novate" [novate]

• To replace something with something new (verb)
• To replace a debt or other obligation (verb)

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• "Customers, usually hedge funds, mostly use email to ask dealers for consent to "novate," a practice that is time-consuming and risky because dealers are obliged to read each email before making a decision."
• "You should be allowed to re-novate your own house though .... the Manitoba government believes that if you are smart enough to build on a flood plain, you are smart enough to re-build on a flood plain."
• "Upon closing of the transaction, QR Energy's sponsor will novate oil and natural gas derivative contracts to QR Energy."