open-end
adjective
: organized to allow for contingencies: such as
a
: permitting additional debt to be incurred under the original indenture subject to specified conditions
an open-end mortgage
b
: having a fluctuating capitalization of shares that are issued or redeemed at the current net asset value or at a figure in fixed ratio to this
an open-end investment company
compare closed-end
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Merriam-Webster unabridged
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