© 2012 Farlex, Inc. A revolving loan facility allows a borrower to obtain a loan with the flexibility to drawdown, repay, and redraw loans advanced to it. Debt accordions will limit the total amount that can be borrowed and any new borrowing will be contingent on the company complying with its existing financial covenants. Accordion definition, a portable wind instrument having a large bellows for forcing air through small metal reeds, a keyboard for the right hand, and buttons for sounding single bass notes or chords for the left hand. Thus, if and when a credit increase takes place, all the terms are predetermined, and the credit increase can be expedited. It is used commonly in direct mail. Companies commonly include an accordion agreement, which comes at extra cost to the borrower, if they anticipate needing additional capital to fund expansion plans in the future but where the timing remains uncertain. This serves to attract more lenders to businesses seeking credit that would otherwise be deemed as too risky. Acquisition debt is a debt obligation arising from the construction, improvement or purchase of a primary or secondary residence. An accordion feature is an option that a company can buy that gives it the right to increase its line of credit (or similar type of liability) with a lender. They’re there to execute, and they’re very very good at doing that. according to you phrase. Default on a secured note can trigger sale of assets pledged as collateral. Usually, these facilities will feature a cap limiting the total amount that can be borrowed and the maximum number of times it can be used. Making additional credit increases contingent on the business exceeding pro forma expectations gives financial institutions (FIs) some peace of mind, ensuring more of them are willing to extend credit to a company that would otherwise be deemed too risky to lend to. An accordion feature is an option a company can obtain, giving it the right to increase a line of credit with a creditor. Here is the image that show which type of accordion I am going to create. Accordion Lender means a Lender or a proposed new Lender that has agreed to accept an Individual Commitment with respect to RT Facility 2 designated in an Accordion Notice delivered to the Administrative Agent pursuant to and in accordance with Section 2.5(a). The Accordion meaning in Urdu will surely enhance your vocabulary. I mean like I said, I love my mother but it would've been a whole different dynamic with her. The extra funds may be used to acquire other businesses, to boost working capital, the money available to fund a company’s day-to-day operations, or to meet other needs. There are many way to create the accordion effect with js but following are the example of how to create the accordion only with css and html. They understand our business and our business model. The Accordion folks are very user friendly. When it comes down to placing a value on an older accordion, the brand name often doesn't mean a whole lot anyway, except in a handful of cases. I encountered the same problem. Definition of according to you in the Idioms Dictionary. Your dreams only give you a way to come out … An expansion option is an embedded option in a contract that allows a company to expand its operations in the future at little to no cost. The accordion feature is an added option that requires the business to pay a premium for the right to use it. Accordions provide a perfect way of making content heavy pages appear less so. © 2012 Farlex, Inc. Debt accordions are simple and cost-effective. Another important characteristic of the accordion feature that benefits the business is the credit increases are optional. All expectations are negotiated at the onset, during which a pro forma plan is agreed upon by all parties. A piece of marketing literature that has been folded using at least two parallel creases such that there are at least three equally sized folds. A Pull Request is opened on this subject but never merged. As we all know, accordions are box-shaped musical instruments that bellow sounds without reeds. Accordions are used especially to play traditional popular music. For businesses, most notably a business with a novel and innovative idea or product, the accordion feature is beneficial in several ways. Accordion Feature: so called because it resembles the expanding musical instrument that shares its name, this is a feature in a Credit Agreement that allows the Borrower to increase the maximum commitment amount under a Revolver or to incur additional Term Loan debt under circumstances specified in the Credit Agreement. At CenterState Bank, we use accordion construction through perm loans to decrease credit risk, increase profitability and keep competitors at bay. For instance, a company that’s a desirable acquisition target might be quickly snapped up by a competitor if funds are not readily available. Farlex Financial Dictionary. This term's origin is derived from how an accordion can be pulled and stretched in a manner that lengthens its total size. An accordion insert is designed to compact as much information as possible into a small, easily deliverable space. The interest rate on the extended credit, along with most other terms, often remains the same as on the original credit line. Get world-class financial training with CFI’s online certified financial analyst training program FMVA® Certification Join 350,600+ students who work for companies like Amazon, J.P. Morgan, and Ferrari ! Learn more. On this page, you can easily check different meanings of Accordion and can learn to make Accordion sentence in English. For example, suppose company ABC has established a $100,000 line of credit with the Bank of XYZ. Appraising an accordion's value is not a straightforward process, because they generally do not have "Blue Book values" like … These types of loans generally have several conditions attached, including a maximum amount of total incremental debt the company can take on and a cap on the number of times the incremental facility may be used. An accordion insert is designed to compact as much information as possible into a small, easily deliverable space. Accordion Feature Definition An accordion feature is a type of corporate option or a clause in a loan (or a syndicated facility) agreement that allows a company to increase its line of credit (i.e. A holder of share repurchase rights has the option to repurchase securities at a later date. The advent of the accordion is the subject of debate among researchers. A piece of marketing literature that has been folded using at least two parallel creases such that there are at least three equally sized folds. An accordion is a musical instrument in the shape of a fairly large box which you hold in your hands. If the feature is not exercised, the company faces no penalty, but will lose out what it paid to purchase the option. Typically, the interest rate, the amount charged for borrowing money, and other terms will remain the same as on the original credit line or loan agreement. Some lenders, however, will provide more flexible arrangements and may even offer unlimited debt accordions, depending on the profile of the borrower. By using Investopedia, you accept our. All the expectations are negotiated and a pro forma plan is agreed upon by all parties. This is especially important for the new business that has exceeded its expectations, and rapid expansion may be warranted to capitalize on untapped markets before competitors seize the opportunity. Farlex Financial Dictionary. Accordion features have become increasingly prevalent in the leveraged loan market. Financial experts recommend that you have 3-6 months of income in your savings account as an emergency fund. Debt accordions can particularly come in handy for up-and-coming startups with a novel and innovative idea or product. The option to increase a loan term or credit amount with a financial lender is most often offered on commercial accounts and generally stipulated within the existing terms of a credit agreement already in place. Companies typically purchase an accordion feature in anticipation of the need for more working capital for possible expansion opportunities. Another word for accordion. Now starts with html code: In this I have used checkbox to use the functionality of click. An accordion feature in a line of credit allows a business to increase that line of credit if necessary, often to obtain more working capital or emergency cash. Definitions by the largest Idiom Dictionary. Learn more. Sample 1 Based on 1 documents By making additional credit increases contingent on the business exceeding pro forma expectations, the lenders focus more on the opportunity than the risk. Made up of multiple items containing a head/title and body with expanded content, the accordion gives a chance for brands to get creative with design and animation. The timeliness of funds can be critical in some environments. I have setup the accordion to function properly, then I've made a function that prepends a "list item" to the accordion that matches the accordion semantics. Then I want the user to be able to add more data to the accordian. Debt accordions, like the portable, box-shaped musical instruments they are named after, can be pulled and stretched to lengthen in size as needed, creating flexibility for borrowers. A lender is able to somewhat mitigate the risk of the noted uncertainty by increasing a line of credit incrementally, with each increment made contingent on the future realization by the business of specific predetermined expectations, and an increased certainty of the aforementioned uncontrollable factors. Accordion definition is - a portable keyboard wind instrument in which the wind is forced past free reeds by means of a hand-operated bellows. But we will not display these input checkboxes. Definition of according with in the Idioms Dictionary. First, it allows the business to put forth more favorable terms for lenders. Frequently, each increment, or increase, is contingent on the company or borrower complying with existing financial covenants and potentially hitting certain targets. An accordion feature is an option that a company can buy that gives it the right to increase its line of credit (or similar type of liability) with a lender. Debt accordions are provisions that allow a borrower to expand the maximum allowed on a credit line or add a term loan to a credit agreement. Accordion Facility means the uncommitted credit facility established pursuant to Section 1.3 hereof, in the amount of not more than Ten Million Dollars ($10,000,000). Build in wins. Taking time to rehash credit terms may be counterproductive and give competitors the chance to seize the opportunity. Accordion file definition is - a folder that is used for the organization and storage of documents and files and that has pleated sides which allow expansion of the folder. Sad Accordion sounds mean that you are going through a bad financial stage of life and your life is crying over all the sacrifices you are making. The offers that appear in this table are from partnerships from which Investopedia receives compensation. To keep things simple, best we can do is to restore border-radius on top and bottom of first and last panel.. Accordion, free-reed portable musical instrument, consisting of a treble casing with external piano-style keys or buttons and a bass casing (usually with buttons) attached to opposite sides of a hand-operated bellows. How to use accordion in a sentence. Loan terms with an accordion feature are well suited for situations where a business shows great potential for accelerated growth, while at the same time there are indications of risks from uncertainty due to factors for which the business has no control. Debt accordions are provisions that allow a borrower to increase the maximum allowed on a credit line or add a term loan to it. Company ABC has also purchased an "accordion feature" that lets it increase its total debt commitment of $100,000 to $150,000 because Company ABC believes it will need an additional $50,000 if it decides to add a new sales division. I am using the jQuery accordion plugin to make an accordion of some data. accordion definition: 1. a box-shaped musical instrument consisting of a folded central part with a keyboard, played by…. Companies may purchase an accordion agreement if they anticipate capital needs in the future but are unsure if and when those funds will actually be required. You play the accordion by pressing keys or buttons on either side while moving the two sides together and apart. according with phrase. How To Use An Accordion Feature in Commercial Loans. Sample 1 Sample 2 Sample 3 Start small and keep savings goals manageable. Investopedia uses cookies to provide you with a great user experience. Credit increases are optional, meaning that companies privy to this arrangement are not obligated to take on additional debt. A line of credit (LOC) is an arrangement between a financial institution, usually a bank, and a customer that establishes the maximum amount a customer can borrow. A facility is a formal financial assistance program offered by a lending institution to help a company that requires operating capital. accordion meaning: 1. a box-shaped musical instrument consisting of a folded central part with a keyboard, played by…. Investopedia uses cookies to provide you with a great user experience. Consequently, if the business can expand without incurring additional debt, it can make that decision. They do not require a new loan agreement, making it easy for corporate borrowers to gain relatively quick access to funds if and when they need them. debt accordion: A method used by companies who may need to obtain additional capital whereby the company is allowed to increase its line of credit with a financial lender. Meanwhile, with this source of revolving capital, the company can get quick access to the funds it needs to capitalize on its potential when and where opportunities present themselves. Having folds or bends like the bellows of an accordion: accordion pleats; accordion blinds. the principal amount under the agreement) or other liabilities with a lending financial institution. We can improve a little the layout (border radius), by adding this code below. on (ə-kôr′dē-ən) n. A portable wind instrument with a small keyboard and free metal reeds that sound when air is forced past them by pleated bellows operated by the player. A debt accordion, also known as an incremental facility, is a provision that allows a borrower to expand the maximum amount allowed on a line of credit (LOC), or to add a term loan … What does according with expression mean? In physics, the accordion effect, known also as the slinky effect, concertina effect, elastic band effect, and string instability, occurs when fluctuations in the motion of a travelling body causes disruptions in the flow of elements following it.This can happen in road traffic, foot marching, bicycle and motor racing, and, in general, to processes in a pipeline. Find more ways to say accordion, along with related words, antonyms and example phrases at Thesaurus.com, the world's most trusted free thesaurus. The offers that appear in this table are from partnerships from which Investopedia receives compensation. ‘Repeated a few times, it has an accordion effect and adds several minutes to the journey.’ ‘She demonstrates the accordion binding of Hiddenness by opening the book to stand on its own as a kind of folding canvas.’ ‘Purchase a plastic accordion folder and create tabs for each of the children you babysit.’ How Companies use Revolving Loan Facilities, Revolving Underwriting Facility (RUF) Definition. Do not rely completely on these dreams and make ways to find a solution in reality. Definitions by the largest Idiom Dictionary. Taking time to rehash credit terms may be counterproductive. A secured note is backed by the borrower's assets. The accordion feature creates a positive benefit for all parties involved in a loan agreement. How to use accordion file in a sentence. adj. What does according to you expression mean? A revolving underwriting facility (RUF) involves a group of underwriters who provide loans to borrowers unable to sell in the eurocurrency market. See more. Financial Analyst Training. They bring a diverse set of skills to the table, and they really know how to bring the right skills. Accordian synonyms, Accordian pronunciation, Accordian translation, English dictionary definition of Accordian. Searching meanings in Urdu can be beneficial for efficiently understanding the context. Don’t create a budget or spending plan that’s too tight. A debt accordion, also known as an incremental facility, is a provision that allows a borrower to expand the maximum amount allowed on a line of credit (LOC), or to add a term loan to an existing credit agreement. If such opportunities do to materialize, the option can be left to expire without penalty. By using Investopedia, you accept our. A convertible debenture is a type of long-term debt issued by a company that can be converted into stock after a specified period. It is used commonly in direct mail. But that’s a big number and takes time to build. Accordion definition: An accordion is a musical instrument in the shape of a fairly large box which you hold in... | Meaning, pronunciation, translations and examples Gain the confidence you need to move up the ladder in a high powered corporate finance career path. We have written about construction through permanent (perm) financing before ( HERE) but the … An American Callable Bond can be redeemed by the issuer at any time prior to its maturity and usually pays a premium when the bond is called. Second, the terms for the entire line of credit, including all the incremental increases, are negotiated at the onset. For possible expansion opportunities the expectations are negotiated at the onset, during which a pro forma expectations the... 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Forma expectations, the option efficiently understanding the context to help a company can! We can improve a little the layout ( border radius ), adding! Used especially to play traditional popular music a high powered corporate finance career.. A $ 100,000 line of credit with the Bank of XYZ are not obligated to take on additional debt it... The interest rate on the opportunity than the risk use an accordion insert is designed to as... Execute, and they really know how to use it without incurring additional debt, it can make decision! Expectations are negotiated at the onset, during which a pro forma expectations, the focus. Of debate among researchers loan agreement among researchers want the user to be able to add more data to table. Accordions provide a perfect way of making content heavy pages appear less so emergency... Suppose company ABC has established a $ 100,000 line of credit, along with most other terms, remains! 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