If a customer purchases an eligible item during a sales tax holiday, but after the sales tax holiday returns the item and receives a credit toward the subsequent purchase of a different item, the purchase of that item does not qualify for the exemption even if it is an eligible item.
loan amortization schedule. Definition. Schedule of loan payments that shows due dates and the amount of money that will applied to the principal and the amount that will go towards the interest. This schedule may be adjusted if a borrower pays more than expected during a specific billing period.
Loan Acceleration. loan acceleration. an acceleration clause in a loan document is a statement in a mortgage that gives the lender the right to demand payment of the entire outstanding balance if a monthly payment is missed. Subscribe to Term of the Day.