- clean-up
- clean up (v.), clean-up (adj.),or cleanup (n.)(1) An informal phrase used by lenders to describe a provision in loan documents, usually the promissory notes used for lines of credit. The clean-up provision requires that the loan balance outstanding under the line of credit be reduced, usually to zero, for a period of time, usually one or two months, with some specified frequency, usually annually.Sometimes called an " out of debt requirement".A clean-up requirement is particularly well suited to borrowers with significant seasonal fluctuations in sales.(2) The unwinding of an asset-backed security when the remaining balance is very small is sometimes referred to as a clean-up call. American Banker Glossary
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clean-up ˈclean-up noun [countable]when an organization is improved by removing parts or people that are not making money or are not effective or honest:• A clean-up may require financial help from the World Bank.
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clean-up UK US (also cleanup) noun [C]► ENVIRONMENT an act of removing harmful substances or chemicals from a place or the environment: »Over $100 million was allocated for the cleanup of hazardous chemicals and radioactive waste.
► WORKPLACE 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.
Financial and business terms. 2012.