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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.

Dry Closing

a lending transaction in which all of the documents are executed and delivered but no money flows, pending satisfaction of one or more Conditions Subsequent, at which point the Financial Closing will occur (i.e., the loans will be made).

Word of the Day®

Hard Call

a prepayment premium that has to be paid both for Voluntary Prepayments and Mandatory Prepayments. Even a Hard Call provision may include negotiated exceptions for certain Mandatory Prepayment provisions.

Word of the Day®

‘33 Act

another name for the Securities Act

Word of the Day®

Cash-and-Carry

a term that refers to purchasing a cash instrument and holding it for a period of time.

Word of the Day®

Anticipation

a Ground of Unpatentability or ground for rejecting a patent claim based on the prior invention or disclosure of the claimed invention by another, or the inventor’s own disclosure of the claimed invention by publication, Prior Sale or Prior Use. See 35 U.S.C. § 102(b). Anticipation requires that all claim elements appear in a single prior art reference.

Anticipation also means a lack of Novelty.

Word of the Day®

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