Recapture Clause

Business / Real Estate / Recapture Clause: A clause in some percentage leases where the lessor has the right to terminate a lease if a tenant does not obtain a desired gross.

Multicurrency Clause

Business / Finance / Multicurrency Clause: An agreement in the case of a Euro loan that permits the borrower to switch from one currency to another currency on a rollover date. MORE

Multiple-Listing Clause

Business / Real Estate / Multiple-Listing Clause: A provision in an exclusive listing for the authority and obligation on the part of the listing broker to distribute the listing to other brokers in the multiple-listing organization. MORE

Negative Pledge Clause

Business / Finance / Negative Pledge Clause: A bond covenant that requires the borrower to grant lenders a lien equivalent to any liens that may be granted in the future to any other currently unsecured lenders. MORE

Nondisturbance Clause

Business / Real Estate / Nondisturbance Clause: An agreement where the mortgagee agrees to honor a tenants lease in the event that the mortgage is foreclosed. MORE

Market Out Clause

Business / Finance / Market Out Clause: A clause that may appear in an underwriting firm commitment that releases it from its purchase requirement if there are negative securities market developments. MORE

Lock-In Clause

Business / Real Estate / Lock-In Clause: A condition in a promissory note that prohibits prepayment of the note. MORE

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