Difference between revisions of "Cleanup clause"
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| − | + | [[Cleanup clause]] is a clause in a line of credit that requires the borrower to reduce the loan balance to zero at least once a year. | |
==Definitions== | ==Definitions== | ||
According to [[Financial Management Theory and Practice by Eugene F. Brigham and Michael C. Ehrhardt (13th edition)]], | According to [[Financial Management Theory and Practice by Eugene F. Brigham and Michael C. Ehrhardt (13th edition)]], | ||
| − | : | + | :[[Cleanup clause]]. A clause in a line of credit that requires the borrower to reduce the loan balance to zero at least once a year. |
==Related concepts== | ==Related concepts== | ||
Latest revision as of 07:27, 30 October 2019
Cleanup clause is a clause in a line of credit that requires the borrower to reduce the loan balance to zero at least once a year.
Definitions
According to Financial Management Theory and Practice by Eugene F. Brigham and Michael C. Ehrhardt (13th edition),
- Cleanup clause. A clause in a line of credit that requires the borrower to reduce the loan balance to zero at least once a year.
Related concepts
- Financial management. A combination of enterprise efforts undertaken in order to procure and utilize monetary resources of the enterprise.
