Related Words

Leading Edge: (also 'blade') the lowest or forward-most edge of a club's head, where the sole and face meet

Leading Edge Flap: a portion of the leading edge of an airplane wing which folds downward to increase the camber of the wing to increase both its lift and drag. Leading-edge flaps are extended for takeoffs and . . . View Full Definition

Long Hedge: The purchase of a futures contract in anticipation of actual purchases in the cash market. Used by processors or exporters as protection against an advance in the cash price. Related: hedge, . . . View Full Definition

Local Knowledge: Awareness of a course's idiosyncratic playing characteristics from having played it many times

Lob Wedge: A very lofted wedge, usually 59 or 60 degrees (more sometimes), designed for playing high, soft shots from short distances

Accounts Payable Ledger: A subsidiary ledger which holds the accounts of a business's suppliers. A single control account is held in the nominal ledger which shows the total balance of all the accounts in the purcha . . . View Full Definition

Neutral Hedge: Hedge that is expected to yield a dollar-neutral result of the combined position, regardless of price change in any part of the hedge securities. For any convertible trading at a premium, th . . . View Full Definition

Nominal Ledger: A ledger which holds all the nominal accounts of a business. Where the business uses a subsidiary ledger like the sales ledger to hold customer details, the nominal ledger will usually inclu . . . View Full Definition

Ledger Strip: A strip of lumber nailed along the bottom of the side of a girder on which joists rest.

Negative Pledge Clause: A bond covenant that requires the borrower to grant lenders a lien equivalent to any liens that may be granted in the future to any other currently unsecured lenders.