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A Loan in which the borrower has the Option to renew the Loan upon Maturity.

Related Terms: 5 Borrow, Loan, Maturity, Option, Owe
Other Related Pages: Category: Lending_and_Credit Starting With: R
Additional Related Terms: At par, All or any part, At best, At call, At risk, Add-on service, Action to quiet title, As is, Assignment to creditors, Attorney in fact