term loan

A loan with a specified due date, usu. of more than one year.

• Such a loan typically cannot be repaid before maturity without incurring a penalty.

— Also termed time loan. Cf. call loan. [Cases: Bills and Notes 129(1). C.J.S. Bills and Notes; Letters of Credit §§ 86–89, 91.]

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词条贡献者

双语律师Philipp，国际知名法学院法律专业，擅长翻译各类与医疗保健相关诉讼相关的法律文件。