Clean up clause in LOG

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Aug 6th, 2022
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How to clean up clause in LOG

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thatamp;#39;s the breakfast dinner and lunch at the same time

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A cleanup clause is a contractual provision in a loan agreement which provides that all loans must be repaid within a specified period, after which no further loans will be made available to the debtor for a specified cleanup period. It may also refer to revolving line of credit.
Contractor shall keep the worksite clean and free from debris. At completion of work and prior to requesting final inspection, the Contractor shall remove all traces of waste materials and debris resulting from the work. Final payment will not be made if cleanup has not been performed.
Key Takeaways An annual-clean up is a banking practice that requires a borrower to pay off all balances on any renewable lines of credit and keep them at zero for a specified period of time. The time frame that a borrower must keep balances at zero usually ranges from 30 to 60 days and can even stretch to 90.
The clean-up period is a specified period (usually 30 days) during the term of the loan in which the borrower is required to pay off the loan. While this requirement is becoming less common, it provides the branch with proof that the borrower is not dependent on the lender for permanent financing.
Examples from Collins dictionaries Nina and Mary were in the kitchen, cleaning up after dinner. Under pressure from the public, many regional governments cleaned up their beaches. After years of neglect and decline the city was cleaning itself up. Since then, the authorities have tried to clean up the sport.
Heres a sample clause for such a requirement: CLEANING. The Tenant(s) is responsible for cleaning all areas of the Premises, including but not limited to, living room, dining room, kitchen, hallways, laundry room, bedrooms, closets, bathrooms, outdoor walkways, and parking spaces.

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