Business / Real Estate / Multiple-Listing Clause
Multiple-Listing Clause: A provision in an exclusive listing for the authority and obligation on the part of the listing broker to distribute the listing to other brokers in the multiple-listing organization.
Market Out Clause: A clause that may appear in an underwriting firm commitment that releases it from its purchase requirement if there are negative securities market developments.
Multicurrency Clause: An agreement in the case of a Euro loan that permits the borrower to switch from one currency to another currency on a rollover date.
Lock-In Clause: A condition in a promissory note that prohibits prepayment of the note.
Multiple-Listing Service (MLS): A marketing organization composed of member brokers who agree to share their listing agreements with one another in the hope of procuring ready, willing and able buyers for their properties . . . View Full Definition
Lifting Clause: A provision in a junior mortgage that allows the underlying senior loan to be replaced or refinanced so long as the amount of the new senior loan does not exceed the amount of the first lien . . . View Full Definition
Hedge Clause: A transaction that reduces the risk of an investment.
Hold-Harmless Clause: A contract provision whereby one party agrees to indemnify and protect the other party from any injuries or lawsuits arising out of the particular transaction. Such clauses are usually found . . . View Full Definition
Incontestability Clause: Levies on the income of a business imposed by federal and state governments. This expense appears on the income statement simply as Taxes.
Inflation-Escalator Clause: The fact that future inflation rates are not known. It is a possible contributing factor to the makeup of the term structure of interest rates.
Word of the Day:
Malty: An aromatic sensation created by a moderately volatile set of aldehydes and ketones that produces sensations reminiscent of toasted grains.