Unsecured vs Secured Notes 
If a borrower defaults on a Secured Note, the assets it has pledged as collateral can be sold to repay the note. With an Unsecured Note, the borrower does not pledge any assets as collateral, so it typically pays the lender a higher interest rate in order to compensate them for the increased risk.
Unsecured Loan
An Unsecured Loan is a loan that is issued and supported only by the borrower's creditworthiness, rather than by any type of collateral. An unsecured loan is one that is obtained without the use of property as collateral for the loan, and it is also called a signature loan or a personal loan.
Unitranche
Unitranche debt is a type of debt that combines senior and subordinated debt into one debt instrument; it is usually used to facilitate a leveraged buyout. The borrower would pay one interest rate to one lender, and the rate would usually fall between the rate for senior debt and subordinated notes.
Uniform Standards of Professional Appraisal Practice (USPAP)
Uniform Standards of Professional Appraisal Practice (USPAP) can be considered the quality control standards applicable for real property, personal property, intangible assets, and business valuation appraisal analysis and reports in the United States and its territories. USPAP represents the generally accepted and recognized standards of appraisal practice.
Uniform Commercial Code (UCC)
The Uniform Commercial Code (UCC) is a uniform act promulgated to harmonize the law of sales, business dealings and other commercial transactions within each of the 50 U.S. states.
Underwriting
Underwriting refers to the structured process used by financial service companies, such as banks, investors, or insurers, to determine and price the risk from a potential client.
Uncollectible A/R
Uncollectible accounts receivable is used to describe the portion of credit sales in accounts receivable the company does not expect to collect from a customer. Unfortunately, not all customers that make purchases on credit will pay companies the money owed.
Unbilled A/R
Unbilled A/R is an Asset account on the balance sheet that represents amounts recognized as revenue for which invoices have not yet been sent. This can occur when you invoice in arrears or have any delay in billing relative to the revenue recognition trigger date.
UCC Search
The UCC Section provides public notice that a security agreement (the document that grants the security interest) exists between a specific debtor and creditor (called a secured party) and describes the collateral involved.
UCC Filing
A UCC-1 is a “financing statement” filed to provide notice that a creditor has a security interest in a debtor’s personal property. It is not an agreement. It is just notice to the world that one person claims an interest in someone else's property, usually as collateral for a debt.
Turnover
Turnover is an accounting term that calculates how quickly a business collects cash from accounts receivable or how fast the company sells its inventory.
Turnaround
A turnaround occurs when a company takes successful steps to correct a period of deteriorating financial performance.
Trustee
An individual person or member of a board given control or powers of administration of property in trust with a legal obligation to administer it solely for the purposes specified.
Trustee may be appointed for a wide variety of purposes, such as in the case of bankruptcy, for a charity, for a trust fund or for certain types of retirement plans or pensions
Trustee may be appointed for a wide variety of purposes, such as in the case of bankruptcy, for a charity, for a trust fund or for certain types of retirement plans or pensions
Trial Balance
A trial balance is a bookkeeping worksheet in which the balances of all ledgers are compiled into debit and credit columns. A company prepares a trial balance periodically, usually at the end of every reporting period. The general purpose of producing a trial balance is to ensure the entries in a company's bookkeeping system are mathematically correct.
Treasury Management
Treasury management (or treasury operations) comprises the management and administration of an enterprise's cash and liquidity resources. Cash and liquidity functions (or components) within Treasury Management include management of a company’s cash sources and uses, bank accounts, and investment activities.
Swingline
Swingline Loans are short-term loans (generally not more than a week in tenor) extended under a Sub-Limit within a larger, syndicated revolving credit facility; and are generally available to the Borrower on shorter notice.
Superpriority liens
Superpriority liens have priority senior to all current or future liens on the same asset or property (other than those subject to ultrapriority liens) and thus entitle creditors with superpriority status to receive payment before all junior creditors.
SunGard Provisions
Also known as “specified representations language” and “SunGard conditionality”, SunGard provisions are used to limit the closing conditions in an acquisition financing deal and to increase deal certainty. These provisions are sought after by sellers and private equity sponsor buyers, are prevalent in large-sponsored transactions, and are becoming more common in middle-market sponsored deals as well.
Summary A/P Aging
Represents a report of a company’s accounts payable broken down to the total balance due from each vendor, which are then further allotted between “buckets” based on date, whether that be Date from Invoice or Due Date aging (i.e. Current A/P, 30-60 DOI A/P, etc.).
Subrogation
The substitution of one creditor for another, whereby the substituted creditor (i.e., the newer creditor) obtains the legal rights and claims of the original creditor. This is often used by title insurers to acquire the right to sue from the injured party.