Glossary
Welcome to SFNet's Secured Finance Glossary of industry terms. Currently the SFNet Glossary has over 400 industry terms and definitions. You can search specific terms in the search tool above, or use the alpha tool below and progress on the paginations.
Negative Covenants 
A negative covenant is a clause in a loan agreement that prohibits the borrower from engaging in certain activities.
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.
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.
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.
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 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.
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.
Non-Cash Expense
An expense on the income statement that does not have a cash outflow to the company.