ratchet clause
C2CEFR level
92/100Rarity: very rare
TechnicalRegister
A provision that automatically adjusts terms one way when a trigger is hit, and never back.
The ratchet clause repriced the founders' equity downward every time they missed a milestone.
Rarity runs from 0 (a word everyone knows) to 100 (almost never seen outside specialist or literary writing). Level is the word's real difficulty on the CEFR scale, from A1 to C2.
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