Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

Category: Finance Dictionary

NET RENTABLE AREA

Building’s actual square-unit ready for lease or rent to tenants. This is the area used to compute expected lease or rental payments. Common areas, elevator shafts, stairways, and space devoted to cooling,

NET YIELD

After deducting all costs, what remains is this specific gross yield portion.

NETWORKED DESIGN

Business units that are closely interconnected, but independent and widely dispersed, driven to achieve the organization’s objectives and goals, are united as this type of organizational structure that operates within a consistent

NEW PARADIGM

Business changes driven by a new investing pattern or method.

NEWS FEED

A continuous data transmission sending news updates to web sites through a syndicated news service provider. Summaries or links of the transmissions refer the user back to the original news source. Also

NIGHT DEPOSITORY

Secured documents or pouches lodging usually requiring a key for access, this is an opening in a building’s exterior wall, as in a bank,

NO COST CONTRACT

Pays back ‘in kind’, but has no monetary consideration. Used mainly to avoid effort duplication, it is typically used by a government that has developed a new but classified technology and a

NO-ASSET CASE

The filer has no assets available to creditors to satisfy outstanding debts in a Chapter 7 bankruptcy filing in this type of situation.

NON-CONCURRENCY

When insurance policies are not properly arranged and do not give enough protection.

NOSTRO

A term meaning our account. It is used by foreign banks to handle its local currency.

PAR VALUE

The value of a security at the time of issuance.

PEGGING

When national currency gets its value from another countries currency system. Or when a security company tries to keep its prices close to par value. Refer to crawling peg and managed foreign

PLUS TICK

A plus + placed on a record when a security is sold at a higher price than previously considered. This initiates a short sale. AKA uptick. Refer to minus, zero plus, and

POSITIVE GAP

When assets are greater than liabilies. Refer to gap, gapping, and negative gap.

PREPAYMENT

Early mortgage payment due to the sale of the home or refinancing to get a better interest rate. Refer to model and speed.

PROTECTED CELL COMPANY

A captive where individual accounts called cells are used for selfinsurance. The cells are seperated by statute protecting them from loss. Refer to agency, group, pure, senior, sister and renta captive.

RAIDER

A hostile buyer who tries to buy another company. They usually strip assets or get greenmail payments. This was common in the 1980s but there are still buyers like this out there.

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