In This Section
Notice of Sale 
The notice which a secured party must give in most cases before foreclosure sale of collateral.
Notice Filing
Information an investment advisor registered with the Securities Exchange Commission may be required by law to submit to state securities authorities.
Non-Sufficient Funds (NSF)
Is the status of an account that does not have enough funds to cover the transaction.
Non-Cash Expense
An expense on the income statement that does not have a cash outflow to the company.
Non-Amortizing
A non-amortizing loan is a type of loan in which payments on the principal are not made, while interest payments or minimum payments are made regularly. As a result, the value of the principal does not decrease over the life of the loan.
Net Realizable Value
The value of an asset that can be realized upon the sale of the asset, less a reasonable estimate of the costs associated with either the eventual sale or the disposal of the asset.
Net Present Value (NPV)
The difference between the present value of cash inflow and the present value of cash outflow over a period of time.
Net Orderly Liquidation Value (NOLV)
Estimated value of the net proceeds that could be expected from an orderly liquidation sale of product professionally managed, over a period of to be determined.
Negotiable Instruments
A document that promises payment to a specific person or the assignee. Checks, time drafts, sight drafts and trade acceptances are types of negotiable instruments.
Negative Pledge
Negative pledge is a provision in a contract which prohibits a party to the contract from creating any security interests over certain property specified in the provision.
Negative Covenants
A negative covenant is a clause in a loan agreement that prohibits the borrower from engaging in certain activities.
Mortgage
A mortgage is a legal agreement by which a lender lends money against a debtor's property.
Mezzanine Debt
Mezzanine debt could be secured or unsecured. It is typically in the form of either debt or preferred equity which is senior to common shares and if secured, is also senior to unsecured creditors. It could be used to for additional working capital or to bridge specific needs such as a shortfall in a leveraged transaction (acquisition).
Methods of Liquidation (GOB, going concern, open market sale, public auction, etc.)
Refers to the style of liquidation chosen which is based on the financial position of the company and the time remaining to liquidate the business assets. Methods of liquidation include going concern, public auction, orderly liquidation, and GOB.
Mechanic's Lien
A mechanic's lien is a security interest in the title to or property for the benefit of those who have supplied labor or materials that improve the property.
Maturity Date
The date on which the loan contract expires and the obligations are due.
Material Adverse Change (MAC)
Material adverse change is applicable to substantial changes in business conditions or prospects of the firm. It could impact the borrower's ability to be funded or acquired.
Marshalling of Assets
The marshalling of assets is a re-distribution of assets of an insolvent debtor in order to obtain a fair distribution of the remaining debtor assets to all creditors.
Marketable securities
Marketable securities, sometimes called "marketable equity securities" are stocks and bonds of other companies held that can be readily sold on stock exchanges or over-the-counter markets and that the company plans to sell as needed for cash.
Mark to Market
Is a measure of the fair value of an asset or liability according to generally accepted accounting principles. It is matching up the current market place fair value vs the value recorded on a company's balance sheet and adjusting it accordingly.
