[am-er-tuh-zey-shuhn, uh-mawr-]
an act or instance of amortizing a debt or other obligation.
the sums devoted to this purpose.

1665–75; < Medieval Latin a(d)mortizātiōn- (stem of admortizātiō). See amortize, -ation Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
amortization or amortisation (əˌmɔːtaɪˈzeɪʃən)
1.  a.  the process of amortizing a debt
 b.  the money devoted to amortizing a debt
2.  Compare accumulation (in computing the redemption yield on a bond purchased at a premium) the amount that is subtracted from the annual yield
amortisation or amortisation
amortizement or amortisation
amortisement or amortisation

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
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Word Origin & History

1670s, in ref. to lands given to religious orders, from M.L. amortizationem, noun of action from amortizare (see amortize). Of debts, from 1864.
Online Etymology Dictionary, © 2010 Douglas Harper
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American Heritage
Cultural Dictionary
amortization [(am-uhr-tuh-zay-shuhn, uh-mawr-tuh-zay-shuhn)]

A term that refers either to the gradual paying off of a debt in regular installments over a period of time or to the depreciation of the “book value” (that is, the standard assessed value) of an asset over a period of time.

The American Heritage® New Dictionary of Cultural Literacy, Third Edition
Copyright © 2005 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.
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Example sentences
Depreciation, amortization and severance costs were included in the amount, not excluded.
Therefore the further you get into the amortization schedule you go the larger the deduction, encouraging people to pay down debt.
They pay mortgages and contemplate amortization schedules and property taxes.
When my ex went to meet with the finance guy, right off the bat, he started by suggesting a reverse amortization loan.
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