seasoning

Definition

The length of time since a note has been created, when payments are being made. A note is often considered "unseasoned" if payments have been made for less than a year. Seasoning can be a way of keeping a payment history for a certain note.

Use seasoning in a sentence

There was not enough seasoning on the food in the hotel and it made everyone return their dinner to the kitchen.

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After leasing a new vehicle, payments being made beyond a year into the note have begun the seasoning of the note.

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When paying back debts to a company, many times you will have to wait a while until you have a seasoned acct. This process of SEASONING will assure the company that you have a good payment history with them.

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seasoned loan seat