EXPLICIT TAX

A tax taken by the government. It can be income tax, sales tax, or capital gains tax as an example. It is openly and directly taken.

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EXPLOSIVE

A material that causes sudden gas release that makes a noise when shock is introduced.

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EXPLODED VIEW

An illustration of an item that is not assembled so that all parts are visible.

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EXPLOSIVE LIMITS

The concentration levels of a flammable vapors in a comustible material where an explosion will happen if it ignites. It cannot happen witt low or too high concentration.

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EXPLODING

1.how a plan is broken down into its smaller parts for subplans. 2. expressing something in a chart to clarify its subparts.

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EXPLODING LETTER OF CREDIT

A letter of credit that ends when a bank goes under. The beneficiary cannot get money from the insurance.

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EXPLODING OPTION

A BULL SPREAD or BEAR SPREAD that generates a payoff once the two STRIKE PRICES defining the SPREAD are breached i.e., the spread

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EXPLODING TERM SHEETS

A rule in the terms of an offer for a start up venture. It has a date it must be accepted by or the offer is null and void. They add pressure into accepting a deal before shopping around.

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EXPIRATION

Cessation; termination from mere lapse of time; as the expiration of alease, or statute, and the like. Marshall v. Rugg, 6 Wyo. 270, 45 Pac. 486, 33 L. It. A.679; Rowinan v. Foot. 29 Conn. 338: Stuart v. Hamilton. 66 111. 255; Farn- um v. Piatt,8 Pick. (Mass.) 341, 19 Am. Dee. 330.

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EXPIRATION CARD

The way the end date is noted on a contract. It is used to remind the agent of policies that need renewal.

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