lock-out


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Lock-out

With PAC bond CMO classes, the period before the PAC sinking fund becomes effective. With multifamily loans, the period of time during which prepayment is prohibited.

Lock-Out

The act of an employer not permitting its employees to work. That is, an employer may close down its place of business (such as a factory) so that employees cannot work and thereby earn a living. Lock-outs are useful in situations such as when a union only represents a portion of a company's workforce. If the employer believes the union is making unreasonable demands, it can declare a lock-out to encourage non-union workers to put pressure on the union workers to give up on those demands. Because this has the effect of punishing all workers, lock-outs are usually illegal.

lock-out

see INDUSTRIAL ACTION.
References in periodicals archive ?
the lock-out agreement was designed to protect the buyer from incurring substantial costs and losing the property at the last minute because the seller had decided to sell the property to someone else
It's getting to the stage that if something isn't done soon we will have to introduce peak-time lock-outs to allow passenger and train congestion to subside,' he said.
50 a year and covers up to $150 per roadside incident or breakdown, including flat tires, no gas, lock-outs, jumpstarts and ramp winching as well as on-the-water tows, jump-starts and fuel delivery.
But soccer fever is gripping Cardiff, with expected 21,500 lock-outs against Reading and Bristol City later this month.
After the lock-outs of Friday and Saturday, sadly there weren't quite so many there yesterday to finish the job.
Lock-outs were common on modern cars, particularly as many drivers don't understand how to switch immobiliser and alarms off.
Back are one-nil lock-outs, back is defensive solidity, back are opponents who can't cope with 4-5-1 even if they do utilise it themselves.
Any journalist involved in the 1979 newspaper lock-outs will confirm that, far from that, he faced accusations of being a "terrible Tory" for the way he ran his weekly newspaper during that strike.
Although industry history suggests that passengers' memories of disruptive operational events such as labor actions and management lock-outs can be relatively short, Fitch sees the potential for this weekend's events to trigger a more sustained pattern of customers booking away from the Australian flag carrier.
Back are one-nil lock-outs and back are opponents who can't cope with 4-5-1 even if they use it themselves.