Conversion Clause

Importance: 0.57

Is a company: no

Is a proper noun: no

Synonyms

  • adjustment clause
  • instructions
  • fine print
  • provision
  • convertible
  • legal contract

Definition of Conversion Clause

  1. A provision that may be present in an adjustable-rate loan agreement which allows the loan to be changed to a fixed-interest rate loan, usually for an additional charge.

Related Terms and Acronyms

  • Convertible Mortgage Definition, Important,
    • A mortgage where the borrower has the option at specified times to change the term length.
  • Acceleration Clause Bank,
    • A provision within a document that explains how the lender expects payment for a loan, in due haste.
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