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Latham in Focus Video Series

The Book of Jargon Series – Word of the Day®

The Book of Jargon® is a series of practice area and industry-specific glossaries published by Latham & Watkins.

Liquidity

the degree to which an asset can be converted into cash. While government-issued treasuries are considered highly liquid, a 49% interest in a Malaysian paper mill probably is not. The term can also be used to refer to a company’s ability to meet its near-term payments.

Word of the Day®

In the Money

The term describes Creditors who are not Out of the Money.

Word of the Day®

Unfunded Commitment

the amount of a loan that a lender has agreed to fund at Closing but has not yet funded. The Unfunded Commitment is the total amount of Commitments less the amounts funded at any point in time under the loan.

Word of the Day®

On The Block

in relation to a company or an asset, a description of the fact it is known that the business/asset has been put up for sale by its owners

Word of the Day®

Canadian Wrapper

a Canadian disclosure document that is wrapped around (or stapled to the front of) the US Offering Memorandum or Prospectus. The Canadian Wrapper is required in certain instances where Canadian (or provincial) law requires certain statutory disclosure on the cover of the offering document for sales in Canada.

Word of the Day®

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