A retractable part of a machine or a building can be moved inwards or backwards. A 20,000-seat arena with a retractable roof is planned. a retractable part of something can be pulled back into the main part
A feature which can be included in a new debt issue or preferred share which grants the holder the option, under specified conditions, to redeem the security on a stated date This date would be prior to maturity in the case of a debt issue