The term 'ALL-OR-NONE' is a phrase used to describe a situation in which all of the conditions must be met in order for something to happen, or NONE of them will. It is often used in business and finance to describe a situation in which a certain amount of money must be invested in order to receive a certain return, or no money will be invested at all. This phrase is also used in other contexts, such as when a person must meet all of the requirements of a job in order to be hired, or they will not be hired at all.