What is a clean-up period?

Related Content. In acquisition finance, the period in which the borrower can remedy certain events relating to the group of companies acquired which breach the terms of the facility agreement documenting the facilities used to fund the acquisition.

What is a 30 day clean-up?

An annual clean-up is a banking practice that requires a borrower to pay off all balances of any renewable lines of credit and keep them at zero for 30 to 60 days or even 90 consecutive days during a 12 month period. Although the annual clean-up is a long-time tradition, it’s becoming less common nowadays.

What is cleanup requirement?

A clean-up requirement clause may require the borrower to pay off any outstanding balance on the line of credit and then cease to use the line of credit for a specified period of time.

What is clean credit in banking?

A letter of credit against which the beneficiary of the credit may draw a bill of exchange without presentation of documents.

What is the difference between clean up and clean out?

Clean up is a phrasal verb which means: to make (a room or space) clean and orderly. Clean out is a phrasal verb which means something such as a cupboard, room, or container, you take everything out of it and clean the inside of it thoroughly.

What does clean down mean?

past participle. cleaned down. DEFINITIONS1. to remove the dirt from something, especially from an upright surface. Clean down all the timbers before you spray them.

What is a clean up loan?

A cleanup clause is a contractual provision in a loan agreement which provides that all loans must be repaid within a specified period, after which no further loans will be made available to the debtor for a specified “cleanup” period. It may also refer to revolving line of credit.

What is annual cleaning?

An annual clean, particularly over the Christmas period, ensures that your business is cleaned spotless from top to bottom and side to side in preparation for starting the new year fresh and in style. Even with a regular cleaning service, a number of unhygienic things happen throughout the year in your business space.

What is a back to back LC?

Back-to-Back Letter of Credit is a negotiable instrument in which the seller gets a Letter of Credit from the buyer and the seller further transfers the Letter of Credit to its supplier.

What does clean credit history mean?

financial record of
Clean Credit History means financial record of an intended borrower having no default in preceding three years in any financial institution.

What is the opposite clean?

Antonym of Clean Word. Antonym. Clean. Dirty. Get definition and list of more Antonym and Synonym in English Grammar.

What do you mean by clean up area?

If you clean up a mess or clean up a place where there is a mess, you make things tidy and free of dirt again. Police in the city have been cleaning up the debris left by a day of violent confrontation. [

What is the definition of a clean up requirement?

DEFINITION of ‘Clean-Up Requirement’. A clean-up requirement is a condition that is often written into the contracts of annually renewable lines of credit.

What does clean up mean in Business Dictionary?

an act of improving a company or system by removing people and stopping activities that are dishonest or causing problems: The cleanup involved foreclosing on thousands of problem loans and selling the properties that secured them. (Definition of clean-up from the Cambridge Business English Dictionary © Cambridge University Press)

How is the word’cleanup’used in a sentence?

Examples of cleanup in a Sentence Recent Examples on the Web: Noun The park reopened last month after a cleanup that produced more than 35 tons of trash. — Los Angeles Times, 4 June 2021 As the authorities seek to determine the cause of the fire, locals living along the coast near Colombo, the capital, have begun a major cleanup.

Is there such a thing as a cleanup?

— Leah Koenig, Forbes, 29 June 2021 Bristol tried for years to interest small manufacturers in redeveloping the building, but the site needs extensive environmental cleanup and the floor plan was laid out for industries of a century ago.