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LSDefine

Simple English definitions for legal terms

term loan

Read a random definition: extra allowance

A quick definition of term loan:

A term loan is when someone borrows money and agrees to pay it back by a certain date, usually more than a year from when they borrowed it. They can't pay it back early without getting charged extra. It's like borrowing a toy from a friend and promising to give it back in a week, but you can't give it back sooner or you'll have to give them extra toys.

A more thorough explanation:

A term loan is a type of loan that has a specific due date, usually more than one year from the date it was issued. This means that the borrower has to pay back the loan by a certain date, and if they pay it back earlier, they may have to pay a penalty.

For example, if a business needs to buy new equipment, they may take out a term loan to pay for it. The loan may have a due date of five years from the date it was issued, and the business will have to make regular payments until the loan is paid off in full.

Another example is a student loan. When a student takes out a loan to pay for their education, it is usually a term loan. The loan has a specific due date, and the student has to make regular payments until the loan is paid off in full.

Overall, a term loan is a loan that has a specific due date and requires regular payments until it is paid off in full.

terminus a quo | term of art

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JumpySubsequentDolphin
16:11
that’s absurd
16:18
does having a masters degree help with getting into law school
16:19
i rly want to get into northwestern or uchicago but im worried about my stats
LSDFan
16:20
you'll get in, calm tf down
16:20
damn
16:21
bro was just asking a question
U have great stats! I wouldn't be too nervous. Did u write why Northwestern and why Chicago?
oh cornells going wl crazy
16:22
having a masters degree is probably a positive, it shows you can do grad level coursework and probably generated a strong rec letter
@RightPlant: you have a great chance at Northwestern!
Chicago, also not a bad chance, but it is more of a crapshoot
Esp since they care more about GPA than LSAT
Would gulc be later tn? I submitted mine mid Oct so don’t think they will get back to me yet
Anyone think au will get back to us tomo?
16:26
I have no clue, I would think it would be later tn based on past waves
radio silence from cornell hey no news is good news ....
gulc was friday last week but i think it was cause of holiday
16:29
genuinely if its not today I WILL crashout.
Dkk
16:29
@jackfrost11770: Cornell had the WL wave!
oh radio silence on my end
16:32
UR2 at UVA
16:32
not really what i wanted given i have a new LSAT score coming but thems the breaks
Dkk
16:33
@jackfrost11770: Man, I watched a video summarizing the stuff I missed in Arcane. You know, all the boring mel and ambessa stuff and that shit is actually incredibly important to the lore. That stuff is all LeBlanc shit and LeBlanc is like one of the most powerful characters in league.
Dkk
16:33
At least, lore wise. It will get interesting.
if ive been at UR 2 or 3 for UVA am i cooked
also is there ucla wave tongith or is that late reporters?
TypicalTeapot
16:37
DEAN ANDY PLEAAAAAASE
recentboo
16:43
leblanc and vlad coming in last arc
ohh i guess no wave today
16:55
@SplitterusClitterus: yes lol
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