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在下面的一段文字中，红色标记的短语如何翻译？先在这里谢谢了！
In an ingenious contribution, Von Thadden (1995) shows that a potentially
superior solution to the hold-up problem may exist. He shows that a long-term
line of credit with a termination clause can balance the costs and benefits of the
hold-up problem and the effects of ex post competition. More specifically, such
a line of credit generally stipulates that the lender may terminate the lending
relationship but, if it chooses to continue it, it should do so at prespecified terms.
This combination of a termination clause—which generates the hold-up problem
in the first place—and continuation only at prespecified terms gives the lender
limited bargaining power. In this way, the severity of the hold-up problem can be
optimally managed and multiple bank relationships may not be needed.
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