Glossary

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.

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.

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. 

The date on which the loan contract expires and the obligations are due.

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.

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.

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).

A mortgage is a legal agreement by which a lender lends money against a debtor's property.