INITIAL TERM Definition

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INITIAL TERM is normally the first time period covered under an agreement or contract (the Term) at the end of which the agreement will either terminate or be automatically renewed under set conditions (Renewal Term), e.g. a one year contract.

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ACQUISITION is one company taking over controlling interest in another company. See also MERGER and POOLING OF INTEREST METHOD.

CURRENT COST is the cost which would be incurred for replacement of an asset.

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