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Glossary of acquisition finance terms and jargon

Glossary of acquisition finance terms and jargon This glossary explains many of the terms commonly used in the leveraged finance market. Terms contained in the definitions themselves that are in bold are defined elsewhere in the glossary. Please refer to the main Banking & Finance Glossary for additional banking terms. Acquisition finance glossary—A Acceleration Acceleration refers to the taking of a formal step by the agent on the instructions of the majority lenders following an event of default such as demand for early repayment of the loan. See Practice Note: Accelerating a loan for more information. Accordion feature/accordion facility An accordion, or incremental debt feature, refers to a mechanism in the facilities agreement under which, provided certain conditions are met such as pro forma compliance with a leverage test, lenders under the facilities agreement who wish to do so can lend additional debt. The terms of the additional debt will typically be documented in an increase notice. An accordion or incremental debt flexibility...

Banking & Finance glossary

Banking & Finance glossary A Auditing and Accounting Organisation for Islamic Financial Institutions (AAOIFI) The leading Islamic international autonomous not-for-profit corporate body that prepares accounting, auditing, governance, ethics and Shari’ah standards for Islamic Financial Institutions (IFIs) and the global Islamic finance industry. Established in Bahrain in 1991, it is supported by a number of institutional members from over 45 countries, including central banks and regulatory authorities, financial institutions, accounting and auditing firms, and legal firms. Its standards are currently followed by the leading Islamic financial institutions across the world and have introduced a progressive degree of harmonisation of international Islamic finance practices. It also offers professional qualification programs (notably Certified Islamic Professional Accountant (CIPA), the Certified Shari’ah Adviser and Auditor (CSAA), and the corporate compliance program) in efforts to enhance the industry’s human resources base and governance structures. For more details, see Practice Note: Key participants in the Islamic finance industry—Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI). Acceleration Acceleration refers to the taking of a formal step by...