REPLACEMENT COST NEW Definition

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REPLACEMENT COST NEW is the current cost of a similar new property having the nearest equivalent utility to the property being valued.

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CUT-OFF YIELD, in securities, is the yield at which or below which the bids are accepted.

DEBT COVENANT is one of many terms used to describe rules governing the loans that a company has outstanding. Other related phrases would be "loan terms" "credit agreement," "loan agreement."

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