Accordion feature: Difference between revisions
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imported>Doug Williamson m (Spacing.) |
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''Loan documentation''. | ''Loan documentation''. | ||
A clause in a loan agreement giving the borrower the option to increase the principal amount under the agreement, for example to fund future expansion. | A clause in a loan agreement giving the borrower the option to increase the principal amount under the agreement, for example to fund future expansion. | ||
The increased amount of principal is lent and borrowed on the same terms as the original borrowing. | The increased amount of principal is lent and borrowed on the same terms as the original borrowing. | ||
The term derives from the musical instrument, which has the capacity to expand when being played. | The term derives from the musical instrument, which has the capacity to expand when being played. | ||
== See also == | == See also == | ||
* [[Loan agreement]] | * [[Loan agreement]] | ||
* [[Trombone]] | * [[Trombone]] | ||
Revision as of 14:16, 27 July 2013
Loan documentation.
A clause in a loan agreement giving the borrower the option to increase the principal amount under the agreement, for example to fund future expansion.
The increased amount of principal is lent and borrowed on the same terms as the original borrowing.
The term derives from the musical instrument, which has the capacity to expand when being played.
