Glossary
Welcome to SFNet's Secured Finance Glossary of industry terms. Currently the SFNet Glossary has over 400 industry terms and definitions. You can search specific terms in the search tool above, or use the alpha tool below and progress on the paginations.
Variable Cost 
A variable cost is a cost that changes in relation to production volume. As production volumes increase, so will variable costs. As production volumes decrease, so will variable costs.
Voidable Preference
A voidable preference (also called an "unfair preference") is a legal term arising in bankruptcy law where a person or company transfers assets or pays a debt to a creditor shortly before going into bankruptcy.
Voluntary Bankruptcy Filing
A voluntary bankruptcy filing occurs when a company files a bankruptcy petition (most often Chapter 11 or Chapter 7) before it is forced into bankruptcy by the legal action of its creditors.
Voting Rights
Voting rights refer to the amount of required lenders needed to approve changes to a multi-bank credit agreement. These can vary by deal but often are based on >50% of commitments.