Most Popular Entries

1. Highly interested letter (Score: 0)
   A non-binding letter written by a commercial or investment bank to a potential customer indicating that it is highly int...
2. Springing lien (Score: 0)
   A term used to refer to a lien that is to be granted in the future upon certain conditions. The creation of a lien in t...
3. Alternate base rate (Score: 0)
   An interest rate index used to price loans. Generally, ABR is computed as the highest of a bank's prime rate and the Fe...
4. Equal and ratable clause (Score: 0)
   Generally, a type of negative pledge that prohibits a borrower or issuer from creating a lien on its property unless the...
5. Double debtor problem (Score: 0)
   A term used to refer to the conflict between the security interests of two secured parties when a First Debtor sells col...
6. Spread (Score: 0)
   A term used to refer to the amount added or subtracted from an interest rate index to compute the interest charged on a ...
7. bips (Score: 0)
   A slang term used to refer to 'basis points.' A basis point is 1/100th of a percent. A fifty bip fee would be a fee eq...
8. Hypothecate (Score: 0)
   A posting of collateral by one person to secure the debt of another person. Typically, in a hypothecation arrangement t...
9. Alphabet (Score: 0)
   The sequence of characters used to depict words in written form. The Latin alphabet has 26 characters, from A-Z. Other a...
10. Tax Gross-up (Score: 0)
    A contract clause that requires a borrower or issuer to make an additional payment to a lender or noteholder to compensa...
11. Ticking fee (Score: 0)
    A term that refers to a fee that is computed based on the passage of time like an interest accrual.
12. Yield maintenance premium (Score: 0)
    An extra amount payable upon prepayment of a bond or loan to compensate the holder for loss of income it may suffer in c...
13. Uniform Commercial Code (Score: 0)
    A model statute motivated by a desire to codify business practices. Includes provisions governing secured transactions,...
14. Telescope (Score: 0)
    A device for looking at things which are very far away. A number of different kinds exist, from optical telepscopes such...
15. Purchase money security interest (Score: 0)
    A security interest taken by a secured party in assets acquired by a debtor where either the secured party sold the asse...
16. Borrowing base (Score: 0)
    A limitation placed on the ability of a borrower to utilize a loan commitment, generally based on a percentage of the bo...
17. Offering circular (Score: 0)
    A term used to refer to a disclosure and marketing document used to market securities. The term is most commonly used f...
18. Indemnification (Score: 0)
    A provision in a contract pursuant to which one party agrees to hold the other party harmless against cost, expense or l...
19. 144A (Score: 0)
    A "144A" transaction is an unregistered offering of securities relying on Rule 144A promulgated under the Securities Act...
20. Highly confident letter (Score: 0)
    A non-binding letter written by an investment bank stating that the investment bank is highly confident that it can sell...

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