Sample 1 Sample 2 Sample 3 Accordion definition is - a portable keyboard wind instrument in which the wind is forced past free reeds by means of a hand-operated bellows. For example, suppose company ABC has established a $100,000 line of credit with the Bank of XYZ. Debt accordions are provisions that allow a borrower to increase the maximum allowed on a credit line or add a term loan to it. The accordion feature creates a positive benefit for all parties involved in a loan agreement. the principal amount under the agreement) or other liabilities with a lending financial institution. 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. 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). At CenterState Bank, we use accordion construction through perm loans to decrease credit risk, increase profitability and keep competitors at bay. All the expectations are negotiated and a pro forma plan is agreed upon by all parties. Some lenders, however, will provide more flexible arrangements and may even offer unlimited debt accordions, depending on the profile of the borrower. How Companies use Revolving Loan Facilities, Revolving Underwriting Facility (RUF) Definition. What does according to you expression mean? The offers that appear in this table are from partnerships from which Investopedia receives compensation. An accordion feature is an option a company can obtain, giving it the right to increase a line of credit with a creditor. 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. 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. It is used commonly in direct mail. Credit increases are optional, meaning that companies privy to this arrangement are not obligated to take on additional debt. Financial experts recommend that you have 3-6 months of income in your savings account as an emergency fund. Find more ways to say accordion, along with related words, antonyms and example phrases at Thesaurus.com, the world's most trusted free thesaurus. Don’t create a budget or spending plan that’s too tight. 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. To keep things simple, best we can do is to restore border-radius on top and bottom of first and last panel.. By using Investopedia, you accept our. accordion definition: 1. a box-shaped musical instrument consisting of a folded central part with a keyboard, played by…. The timeliness of funds can be critical in some environments. 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. 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. Accordion features have become increasingly prevalent in the leveraged loan market. They bring a diverse set of skills to the table, and they really know how to bring the right skills. 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. What does according with expression mean? All expectations are negotiated at the onset, during which a pro forma plan is agreed upon by all parties. If the feature is not exercised, the company faces no penalty, but will lose out what it paid to purchase the option. Learn more. Accordions provide a perfect way of making content heavy pages appear less so. Build in wins. Consequently, if the business can expand without incurring additional debt, it can make that decision. 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. 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. Frequently, each increment, or increase, is contingent on the company or borrower complying with existing financial covenants and potentially hitting certain targets. The offers that appear in this table are from partnerships from which Investopedia receives compensation. How to use accordion in a sentence. Investopedia uses cookies to provide you with a great user experience. A convertible debenture is a type of long-term debt issued by a company that can be converted into stock after a specified period. By using Investopedia, you accept our. Thus, if and when a credit increase takes place, all the terms are predetermined, and the credit increase can be expedited. 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. Definitions by the largest Idiom Dictionary. Second, the terms for the entire line of credit, including all the incremental increases, are negotiated at the onset. 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. A facility is a formal financial assistance program offered by a lending institution to help a company that requires operating capital. Accordian synonyms, Accordian pronunciation, Accordian translation, English dictionary definition of Accordian. 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. Do not rely completely on these dreams and make ways to find a solution in reality. 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. 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 … 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. On this page, you can easily check different meanings of Accordion and can learn to make Accordion sentence in English. How To Use An Accordion Feature in Commercial Loans. 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. 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. 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. A revolving loan facility allows a borrower to obtain a loan with the flexibility to drawdown, repay, and redraw loans advanced to it. A secured note is backed by the borrower's assets. Financial Analyst Training. By making additional credit increases contingent on the business exceeding pro forma expectations, the lenders focus more on the opportunity than the risk. We have written about construction through permanent (perm) financing before ( HERE) but the … For businesses, most notably a business with a novel and innovative idea or product, the accordion feature is beneficial in several ways. 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. according with phrase. 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. Taking time to rehash credit terms may be counterproductive. Having folds or bends like the bellows of an accordion: accordion pleats; accordion blinds. The Accordion meaning in Urdu will surely enhance your vocabulary. 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. We can improve a little the layout (border radius), by adding this code below. It is used commonly in direct mail. Now starts with html code: In this I have used checkbox to use the functionality of click. They’re there to execute, and they’re very very good at doing that. accordion meaning: 1. a box-shaped musical instrument consisting of a folded central part with a keyboard, played by…. This term's origin is derived from how an accordion can be pulled and stretched in a manner that lengthens its total size. The interest rate on the extended credit, along with most other terms, often remains the same as on the original credit line. If such opportunities do to materialize, the option can be left to expire without penalty. Learn more. Searching meanings in Urdu can be beneficial for efficiently understanding the context. 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. © 2012 Farlex, Inc. Farlex Financial Dictionary. The advent of the accordion is the subject of debate among researchers. 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. ‘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.’ 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. Here is the image that show which type of accordion I am going to create. 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 First, it allows the business to put forth more favorable terms for lenders. But that’s a big number and takes time to build. Farlex Financial Dictionary. You play the accordion by pressing keys or buttons on either side while moving the two sides together and apart. 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. according to you phrase. But we will not display these input checkboxes. Then I want the user to be able to add more data to the accordian. 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