Practical Law Glossary Item 9-382-3613 (Approx. 2 pages)
Glossary
Market
Business jargon used in a financing transaction to refer to business and legal terms that are customarily accepted by the major financial institutions in the marketplace at the current point in time. For example, following the credit crisis of 2007, reverse termination fees are market for acquisition transactions but PIK toggle loan features are no longer market.