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What is a lease commitment letter?
A document prepared by a prospective lessor and presented to a prospective lessee that sets forth the lessor’s commitment to provide the proposed lease is a commitment letter. A c...
What is a lease broker? What is a packager?
A lease broker is an individual or firm that arranges lease transactions, commonly involving commercial and industrial equipment, as agent between lessees and lessors – without par...
What is a lease assignment agreement?
An assignment is the transfer of some or all of the rights in a contractual arrangement and/or an asset to another party, where the obligors under the arrangement are bound to perf...
The form provided by a prospective lessor that, often combined with a credit application, is filled out and returned by the prospective lessee to provide the lessor with basic info...
A guarantee is personal security in the form of an agreement provided by a third party, typically a parent company, to a creditor to assume a debtor’s obligation in the event the d...
What is a grace period? What is a debt waiver?
A given period of time during which a lender does not require payment on a loan and principal and interest does not come due for payment is a grace period. Grace periods are commo...
What is a functional currency?
For the consolidation of the financial statements of a multinational corporation with one or more subsidiaries operating in a currency different to that of the parent company, a pr...
Term sheets are often used to initiate a financing transaction, whether bilateral or syndicated, for investment grade, acquisition or real estate financing. They are commonly soli...
What is a debt-equity swap (DES)?
A debt-equity swap (DES) is a debt restructuring in which a creditor provides new equity capital in the debtor in exchange for cancellation of outstanding debt it is owed, thus imp...
What is a debt-debt swap (DDS)?
A debt-debt swap (DDS) is a debt restructuring by which: Old debt is novated between the same debtor and creditor, with amended terms and conditions and/or a new principal amount;...
