If you feel grooves, it needs to be machined. If you replace the pads but leave the grooved rotors, the pads will wear unevenly from the beginning. To optimize performance of your braking system, the brake pad should be mated to the metal surface as much as possible. These grooves take away from that process. The same is true with warped rotors.
DEFINITION of 'Qualified Institutional Buyer-QIB'. A corporate entity that falls within the accredited investor category, defined in SEC Rule 501 of Regulation D.
qualified nonrecourse financing. The definition of qualified nonrecourse financing is not that difficult to understand. It represents debt that is secured by real property that is used in the activity of holding real property. In most situations, this is property that is held for rental purposes.