Prepayment Penalty: The charge which can be imposed if you pay off your loan before maturity. The Truth in Lending Disclosure Statement will show whether a loan has a prepayment penalty.

 

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Prepayment Penalty: The charge which can be imposed if you pay off your loan before maturity. The Truth in Lending Disclosure Statement will show whether a loan has a prepayment penalty.

Penalty Shootout: A method of deciding a winner, in amateur hockey, if the score is still tied after one overtime period. Each team designates five shooters and a goalie, and the teams alternate penalty shots . . . View Full Definition

Penalty Minutes: A statistic that shows the amount of penalty time accumulated by a player or team.

Penalty Killer: A player expert at backchecking and keeping or gaining control of a loose puck under difficult circumstances who is trained to break up a power play when his team is shorthanded.

Penalty Box Assistant: This is an off-ice official who is in charge of allowing players back on the ice after they have finished serving their penalty.

Penalty Clause: A clause found in contract agreements that provides for a penalty in the event of default.

Penalty Shot: A shot on goal, with only the goaltender defending, awarded for certain infractions. The player taking the shot is given the puck at the center ice spot and must keep the puck moving forward . . . View Full Definition

Penalty Timekeeper: An official who sits between the two penalty boxes and is responsible for recording and timing every penalty.

PSA Prepayment Rate: The Bond Market Trade Association's Mortgaged Asset-Backed Securities Division's prepayment model based on an assumed rate of prepayment each month of the then unpaid principal balance of a . . . View Full Definition

Zero Prepayment Assumption: Applies mainly to international equities. Japanese securities transactions conducted on the principal of auction, i.e., (1) price priority in which the selling (buying) order with the lowest . . . View Full Definition