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Accommodation loan

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Accommodation loan
A legal agreement signed by two parties whereby one of the co-signers guarantees credit liability for the other co-signer.  Accommodation loans, often called accommodation endorsements or bills, allows the guarantor to add strength to the creditworthiness of the other party.  If the receiving party defaults on its debt, the guarantor is then responsible for the debt of the other party. See: Covenant
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Additionally, those Series D investors who invested an amount equal to or greater than 25% of the amounts invested in prior transactions involving stock or certain Accommodation Loans and Term Loans had the exercise price of any Company warrants held by such Series D investor reduced to (i) $0.
nFinanSe Inc. Raises $12.2 Million In Equity Transactions by Business Wire
Also, effective July 1, 2008, the Company curtailed dealer accommodation loans due to higher risks normally associated with such loans.
Brookline Bancorp Announces 2008 Fourth Quarter and Annual Earnings ... by Business Wire
Also, effective July 1, 2008, the Company curtailed dealer accommodation loans due to higher credit risks normally associated with such loans.
Brookline Bancorp Announces 2008 Third Quarter Earnings and Dividend ... by Business Wire
 
 
 
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