Lock-out

Definition:

With PAC bond CMO classes, the period before the PAC sinking fund becomes effective. With multifamily loans, the period of time during which prepayment is prohibited.

Investing Essentials


Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University

Term of the Day

Credit Terms

The conditions under which credit will be extended to a customer. The components of credit terms are: cash discount, credit period, net period.

Subscribe to the Term of the Day via email Get the Term of the Day in your inbox!


Create your free portfolio