Perfected first lien
A first lien that is duly recorded with the cognizant governmental body so that the lender will be able to act on it should the borrower default. |
Similar financial terms
LIFO (Last-in-first-out)The last-in-first-out inventory valuation methodology. A method of valuing inventory that uses the cost of the most recent item in inventory first.
Last-In-First-Out (LIFO)
A method of valuing inventory that uses the cost of the most recent item in inventory first.
Limitation on liens
A bond covenant that restricts in some way a firm's ability to grant liens on its assets.
Lien
A security interest in one or more assets that is granted to lenders in connection with secured debt financing. When an asset is pledged as security against a loan, the lender is said to take "lien", i.e. a legal security interest, in the asset. Liens are usually registered against assets and recorded in a public office (or on-line). It behooves a buyer of an asset to conduct a search to ensure that there are no liens against an asset. It is conceivable that an asset can be sold to an unsuspecti ...
Leverage clientele
A group of shareholders who, because of their personal leverage, seek to invest in corporations that maintain a compatible degree of corporate leverage.
Blanket inventory lien
A secured loan that gives the lender a lien against all the borrower's inventories.
Clientele effect
The grouping of investors who have a preference that the firm follow a particular financing policy, such as the amount of leverage it uses.
Nonresident of the US alien (NRA)
Not a U.S. person as defined under the Internal Revenue Code (IRC).
