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 ?
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.
Office space rental, lender lock-outs and retaliation.
Built-in AutoQC [R] module holds up to 40 days of QC material & automatically provides programmable QC regimens, lock-outs, & lot-to-lot comparisons.
They have attacking flair enough to thoroughly examine United's new defensive barrier erected round Bassong, whose introduction in his natural position has coincided with the three-game run of lock-outs.
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.
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.
The only possible outcome is that BBC will have to stump up, or face further lock-outs.
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.