Glossary

Our Glossary provides definitions for several common terms you will likely encounter throughout the application and underwriting process.

Dexter Financial Glossary of Terms

Choose your glossary terms by clicking on the alphabetical index.

A B C D E F G I L M N P R S T U V W View All

• Landlord Subordination

  A document signed by the landlord of a premises in which the landlord agrees to subordinate any legal interest in their tenant’s personal property to that of tenant’s creditor.

• Landlord Waiver

  A document signed by the landlord of a premises in which the landlord waives any legal claim in personal property brought onto the premises.

• Late Fee

  A fee charged for a payment that is not paid by the due date.

• Lease Agreement

  An agreement for the use and possession of equipment for a specified period of time.

• Leasehold Improvements (Buildout)

  The specific construction and/or associated cost required to alter the inside of building for the requirements of a laundry.

• Lendor

  An individual or entity that loans money to others.

• Lessee

  The entity that contracts with a lessor for the use of equipment for a specified period of time.

• Lessor

  The entity that provides equipment for use by a lessee.

• Loan

  Temporary borrowing of a sum of money.

• Loss Payee

  An individual or entity to whom an insurance loss payment or insurance settlement may be directly paid.