incremental loans

incremental loans
USA
incremental loans, Also known as an accordion feature.
A feature of some loan agreements that allows the borrower to add a new term loan tranche or increase the revolving credit loan commitments under an existing loan facility up to a specified amount under certain terms and conditions. The advantage of this feature is that the increase in the loan amount is pre-approved by the lenders so that the borrower does not have to get the lenders' consent if it increases the loan facility at a later date.
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Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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