CASH SWEEP Definition

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CASH SWEEP is the use of surplus cash to prepay debt or provide extra security for lenders, instead of paying it out to investors.

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MANAGED RECEIVABLES is the total receivable amounts on which a company continues to perform billing and collection activities, including receivables that have been sold with and without credit recourse and are no longer reported on the balance sheet. See OWNED RECEIVABLES.

SCRAP is material that is discarded as worthless or sold to be reused as parts; junk; a small unusable amount of something that is left over after the rest has been used or consumed.

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