cleanup

cleanup
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

Financial and business terms. 2012.

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  • cleanup — also clean up, 1856, act of cleaning up, from CLEAN (Cf. clean) + UP (Cf. up). Meaning a profit is recorded from 1878. Verbal phrase clean up make a large profit is from 1929. The adjective, in the baseball sense, is recorded by 1910 …   Etymology dictionary

  • cleanup — [klēn′up΄] n. 1. the act of cleaning up ☆ 2. elimination of crime, vice, graft, etc. ☆ 3. Slang profit; gain adj. ☆ Baseball designating the fourth batter in a team s lineup: so positioned because regarded as most likely to drive in runners on… …   English World dictionary

  • Cleanup — For efforts to improve the spelling, grammar, tone, sourcing, and wikification of Wikipedia articles, see Wikipedia:Cleanup. Cleanup, Clean up or clean up may refer to: Cleaning Clean up, a part of the workflow in the production of hand drawn… …   Wikipedia

  • cleanup — I. noun Date: 1872 1. an act or instance of cleaning 2. an exceptionally large profit ; killing II. adjective Date: 1937 being in the fourth position in the batting order of a baseball team < a cleanup hitter > • cleanup …   New Collegiate Dictionary

  • cleanup — /kleen up /, n. 1. the act or process of cleaning up. 2. Slang. a very large profit: The company made a real cleanup on their new invention. 3. Baseball. a. the fourth position in the batting order: Our best home run hitter is batting cleanup. b …   Universalium

  • cleanup — noun 1. a very large profit • Syn: ↑killing • Derivationally related forms: ↑clean up • Usage Domain: ↑colloquialism • Hypernyms: ↑net income, ↑ …   Useful english dictionary

  • cleanup — 1. noun the act of cleaning something See Also: clean up 2. adjective to bat fourth in the batting order Jones will be batting cleanup in tonights game …   Wiktionary

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  • Cleanup stack — is a concept widely used in Symbian OS. It is most suitable to use in places where dynamic memory is used (allocated) in programming. The problem with dynamic memory is the sole discretion of the underlying OS whether the request for memory… …   Wikipedia

  • Cleanup hitter — In baseball, the cleanup hitter is the hitter who bats fourth in the lineup. Although the third man up is generally the hitter with the highest batting average, cleanup hitters often have the most power on the team and are typically the team s… …   Wikipedia

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