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Floating lien

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Definition of Floating lien

Floating Lien Image 1

Floating lien

General lien against a company's assets or against a particular class of assets.



Related Terms:

Alien

The citizen of a country besides the United States.


Blanket inventory lien

A secured loan that gives the lender a lien against all the borrower's inventories.


Clientele effect

The grouping of investors who have a preference that the firm follow a particular financing
policy, such as the amount of leverage it uses.


Dividend clientele

A group of shareholders who prefer that the firm follow a particular dividend policy. For
example, such a preference is often based on comparable tax situations.


Financial leverage clientele

A group of investors who have a preference for investing in firms that adhere to
a particular financial leverage policy.



Floating Charge

Charge or assignment on a company's total assets as security for a loan on total assets without specifying specific assets.


Floating exchange rate

A country's decision to allow its currency value to freely change. The currency is not
constrained by central bank intervention and does not have to maintain its relationship with another currency
in a narrow band. The currency value is determined by trading in the foreign exchange market.


Floating Lien Image 2

Floating Exchange Rate

See flexible exchange rate.


Floating Interest Rate

A rate that fluctuates with general market condition.


Floating-rate contract

A guaranteed investment contract where the credit rating is tied to some variable
("floating") interest rate benchmark, such as a specific-maturity Treasury yield.


Floating-rate note (FRN)

Note whose interest payment varies with short-term interest rates.


Floating-rate payer

In an interest rate swap, the counterparty who pays a rate based on a reference rate,
usually in exchange for a fixed-rate payment


Floating-rate preferred

Preferred stock paying dividends that vary with short-term interest rates.


floating-rate security

Security paying dividends or interest that vary with short-term interest rates.


Floating supply

The amount of securities believed to be available for immediate purchase, that is, in the
hands of dealers and investors wanting to sell.


Inverse floating rate note

A variable rate security whose coupon rate increases as a benchmark interest rate declines.


Leverage clientele

A group of shareholders who, because of their personal leverage, seek to invest in
corporations that maintain a compatible degree of corporate leverage.


Lien

A security interest in one or more assets that is granted to lenders in connection with secured debt
financing.



Lien

The right of a party to a contract to take possession of an asset unless payment under the contract is received in full. A lien must be registered under the various provincial laws in order to be valid and enforceable.


Limitation on liens

A bond covenant that restricts in some way a firm's ability to grant liens on its assets.


Perfected first lien

A first lien that is duly recorded with the cognizant governmental body so that the lender
will be able to act on it should the borrower default.



 

 

 

 

 

 

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