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What is a recourse, limited recourse and nonrecourse assignment?
The right of an assignee or buyer in a financial transaction to demand performance from the transaction assignor or seller in the event of default on the underlying debt is recours...
Grid-based pricing determines loan pricing based either on the credit rating, the leverage ratio or any other agreed upon metric of the borrower. A margin grid is a matrix used to...
What is a perfected lien and lien priority?
The security interest of a creditor (lender/lessor) in personal property is perfected upon the filing of the financing statement with the appropriate authorities. Lien perfection...
A nontax lease is any lease in which the lessee is considered the owner of the leased asset for tax purposes, it being treated as a loan in which the lessor has a security interest...
A nonservice lease is an equipment lease under which the lessee is responsible for the maintenance, insurance and taxes as well as all other costs incurred in operating the equipme...
What is a minimum lease payment? What is a rental?
A periodic payment made by the lessee to the lessor during the lease term for use of the leased asset, usually monthly or quarterly, is a lease payment. The periodic payment made...
What is a master equipment lease agreement?
Many equipment lease transactions use a master lease to cover terms and conditions of all of the individual lease transactions to be entered into between the parties. A master lea...
Mandate letters for fully underwritten deals generally contain a market flex. A market flex sets out the circumstances in which syndicate arrangers are entitled to unilaterally ad...
A mandate letter is a borrower’s written authorization to one or more banks to assemble a syndicate to raise the financing required by the borrower. It outlines the basic loan ter...
A loan sale is the transfer of the ownership and control rights of a loan from the seller to the buyer without recourse, guarantee, insurance or other credit enhancement, with the...
