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What are other noncurrent assets?
The investments account shows equity ownership and other property rights held in unconsolidated entities with the intention of retaining them for a period exceeding one accounting...
What are original borrowers and original guarantors?
Original borrowers and original guarantors are the signatory borrowers and guarantors at the date of the execution (signing) of the facility agreement. In jurisdictions where it i...
What are original and new lenders?
A party that commits to advance (lend) to a borrower an amount of the total funding of a facility is a lender. An original lender is a signatory lender and original contractual pa...
The first item in the income statement is operating revenue, which is the net amount of sales revenue after all reductions to gross sales, such as sales returns, allowances and dis...
What are material subsidiaries?
Loan agreements commonly assume that all borrower subsidiaries are original borrowers (i.e., obligors), which may be of particular concern when a borrower has a large number of sub...
LMA agreements assume that all borrower subsidiaries are original borrowers and original guarantors (i.e., obligors), which may be of particular concern when a borrower has a large...
What are majority and noncontrolling interests?
A majority interest reports the parent’s owner interest of less than 100% but more than 50% of the outstanding voting shares (control) in the subsidiaries that have been consolidat...
Syndication is a multilateral financing arrangement in which one or more originating commercial or investment banks arrange financing on a borrower’s behalf by obtaining the commit...
A liability is a probable future sacrifice of economic benefit owed by one entity (debtor) to another entity (creditor) resulting from the receipt of an asset or service or the inc...
What are lease progress payments?
An asset’s acquisition may involve progress payments, which are payments made to the manufacturer or constructor of the asset to be leased in its predelivery phase as it is being p...
