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Bridget's Hamburger Stand uses only 7 ingredients but offers 15 different burgers. This process is known as
Collateral
Collateral is an asset that a borrower offers to a lender to secure a loan. If the borrower fails to repay the loan, the lender has the right to seize the collateral.
Line of Credit Agreement
A legal agreement between a financial institution and a borrower that establishes a maximum loan balance that the lender allows the borrower to access.
Specified Period
A defined duration or timeframe during which certain actions, events, or conditions are intended to take place or be in effect.
Contractually Committed
A term indicating that parties are legally obliged to carry out the terms of a contract, including payments, deliveries, or services.
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