Sentences with phrase «of loan covenants»

Just because you change title does not absolve you to your duties of the loan covenants and guarantees.

Interest cover ratio is also a regular feature of loan covenants requiring borrowers to maintain a minimum level of interest cover failing which may impose the immediate settlement of debt.

The slump into the red triggered a breach of its loan covenant with National Australia Bank and a January 30 deadline to patch up its margins and provide a strategy to slim down its cost structure.

an independent valuation of properties used for loan security is obtained before making or renewing a loan and within two months of directors forming a view of a likelihood that a security property value decrease may have caused a material breach of a loan covenant, and

Not exact matches

After drawing down $ 192 million of nearly $ 500 million in potential financing, it triggered loan covenants when it botched production deadlines, failing to deliver cars on time.

The fund disclosed this month it is not in compliance with one of its debt covenants, and reported there is «significant doubt» it can repay the $ 65.6 - million loan as required by Dec. 31.

Clean Harbors believes that Adjusted EBITDA provides additional useful information to investors since the Company's loan covenants are based upon levels of Adjusted EBITDA achieved and management routinely evaluates the performance of its businesses based upon levels of Adjusted EBITDA.

Another way to look at that is if those in the audience who know what covenant - light loans are, which are loans without a lot of stuff tied around you, back in» 06,»07 less than 20 percent of the debt was issued cov - light.

Other considerations that have historically been important would persist independent of our various concerns about profit margins, Fed - induced yield - seeking, covenant - lite leveraged loan issuance, equity margin debt, economic deceleration, and so forth.

A technical loan default is when a borrower fails to meet a specific component of their loan compliance such as failure to comply with a non-financial covenant or a failure to deliver reports and financials on time.

We expect that the New Credit Facility will contain a number of covenants that, among other things, restrict SSE Holdings» ability to, subject to specified exceptions, incur additional debt; incur additional liens and contingent liabilities; sell or dispose of assets; merge with or acquire other companies; liquidate or dissolve itself, engage in businesses that are not in a related line of business; make loans, advances or guarantees; pay dividends or make other distributions (with certain exceptions, including tax distributions and repurchases of management equity); engage in transactions with affiliates; and make investments.

On February 21, CNBC reported that Toys «R» Us was at risk of breaching a covenant on a $ 3.1 - billion debtor - in - possession loan.

Choose your pick of potential flashpoints: rising U.S. interest rates, weakening loan covenants, or the boom in exchange traded funds.

Moreover, covenant - lite loans — high - risk instruments issued by junk - rated borrowers, with few protections for creditors — made up 72.5 % of that total, a record.

Most lenders will require several covenants as part of the loan agreement:

Additional reserves are occasionally required as part of debt covenants, especially regarding bonds or loans for school buildings.

To ensure the timely construction and completion of the I - 49 Segment K project using the increased funding capacity created by the refinance, the TIFIA JPO included loan covenants specific to the I - 49 project.

Minimum levels of current ratio are often defined in loan covenants to protect the interest of the lenders in the event of deteriorating financial position of the borrowers.

Leveraged buyout loans are subject to greater credit risks than other investments, including a greater possibility that the borrower may default or enter bankruptcy and may be «covenant lite» loans, which do not include terms that allow the lender to monitor the performance of the borrower and declare a default if certain criteria are breached.

If the borrower fails to comply with a covenant, the lender can immediately request repayment of the loan.

The investment manager should also outline the key terms of any loans the scheme has and tell you if they have broken any promises made in loan agreements (called «loan covenant breaches»).

BBEP's is a beautifully intricate story in which the oil crash, the market crash, an angry majority shareholder, a convenient bank loan covenant, 5 years of hedged production, and the fleeing of dividend - loving stock holders combined to create the easiest purchasing decision I've ever made!

This month, Standard & Poor's lowered its outlook on Tata Power from stable to negative because of a loan - covenant breach on its Mundra project, which is only partly completed.

Our experience includes site acquisition and control through options, ground leases and title transfers, preparation of reciprocal easement agreements and restrictive covenants, leasing of space to national and regional retailers and negotiating construction and payment loan documentation.

Dan's business litigation included defending a truck manufacturer in suits by disgruntled dealers, the defense of numerous officers and directors of failed savings and loans, a recovery for limited partners in a franchise who were misled by a franchisor, defense of libel actions, trade secret litigation on behalf of both plaintiffs and defendants, lease covenant disputes for commercial tenants of shopping centers, and business partnership disputes.

Banks and other third - party lenders now often require personal guarantees of partners or impose restrictive loan covenants that may be difficult to meet.

She also has experience of negotiating documents such as deeds of surrender, deeds of variation, authorised guarantee agreements, deeds of covenant, licences, rent deposit deeds, loan agreements and s. 106 agreements.

It was also unsupported by the mortgage itself, including the standard charge terms containing the appellant's covenant to pay, the certificate of independent legal advice furnished by the appellant's solicitor in relation to the mortgage transaction, the mortgage commitment letter, and various other documents related to the mortgage loan.

Furthermore, in documents filed with the court by the appellant on a summary judgment motion in a related solicitor's negligence action, the appellant expressly acknowledged that he, rather than the trust, was the legal owner of the mortgaged property and that the relevant mortgage documents contained his personal covenant to repay the mortgage loan.

Prepared valuation analyses and cash flow models on prospective acquisitions using ARGUS; and recorded acquisition / sale of 1031 properties on multiple entities Prepared quarterly financial reports for tax auditors using QuickBooks, including all supporting schedules for 10 - K and 10 - Q filings Created / Maintained lease briefs for newly acquired assets and performed due diligence for prospective acquisitions Managed and reconciled cash for company and 1031 exchange properties; and acted as primary contact for all treasury management issues Filed annual business property statement and recorded estimated income tax payments — state and federal Created accounting procedures manual and supervised / trained assistants to perform accounts payable tasks Consulted with property accountants to resolve discrepancies in monthly financial reports Provided executives, shareholders, lenders and investors with monthly, quarterly and annual financial reports Ensured compliance with loan covenants and tenant in common (TIC) agreements

A bank will do loan to LLC with recourse to you or the owner of the LLC (ie., another LLC or LP that has significant assets) if has very strong collateral / attached covenants on parent company.

The National Association of Realtors ® applauds the Federal Housing Finance Agency for moving ahead with a proposed rule to restrict government - sponsored enterprises Fannie Mae and Freddie Mac and the 12 Federal Home Loan Banks from investing in mortgages encumbered by private transfer fee covenants.

The court rejected this argument, finding that there was no duty for the Broker to modify or extend the loan in the contract and the covenant of fair dealing did not impose this duty.

Lenders consider both the property (security) and the financial worth of the borrower (covenant) in deciding on a mortgage loan.

The federal banking agencies» examination revealed an «easing of CRE underwriting standards, including less - restrictive loan covenants, extended maturities, longer interest - only payment periods, and limited guarantor requirements.»