clearing

(klîrˈĭng)

1. The act or process of making or becoming clear.
2. A tract of land within a wood or other overgrown area from which trees and other obstructions have been removed.
3. An open space: a clearing in the fog.
4. a. The exchange among banks of checks, drafts, and notes and the settlement of consequent differences.
   b. clearings The total of claims presented daily at a clearing-house.