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In the deal-by-deal waterfall, the bad performances of a single company do not leak over the performances of the other companies. To mitigate the effect of a deal-by-deal waterfall and to make it more attractive to LPs, private equity funds using an American waterfall may include a clawback clause in their LPAs. [5]
Liquidation preferences are typically implemented by making them an attribute that attaches to preferred stock that investors purchase in exchange for their investment. . This means that the preference is senior to holders of common shares (and possibly other series of preferred stock), but junior to a company's debts and secured obligat
A loss payee clause (or loss payable clause) is a clause in a contract of insurance that provides, in the event of payment being made under the policy in relation to the insured risk, that payment will be made to a third party rather than to the insured beneficiary of the policy.
It will outline what triggered the acceleration clause and include details on the amount you must pay and the deadline for making payment. Typically, the deadline is 30 days from the date of the ...
The SPV sells 4 tranches of credit linked notes with a waterfall structure whereby: Tranche D absorbs the first 25% of losses on the portfolio, and is the most risky. Tranche C absorbs the next 25% of losses; Tranche B the next 25%; Tranche A the final 25%, is the least risky. Tranches A, B and C are sold to outside investors.
The clause usually forms part of a parent company guarantee that is intended to limit the applicability of the doctrines of impossibility or frustration of purpose. The term for the clause comes from a colloquial expression that a task must be accomplished "come hell or high water", that is, regardless of any difficulty.
In the United Kingdom, a take-or-pay clause included in a contract between M&J Polymers and Imerys Minerals was found on its own facts to be "commercially justifiable" in a 2008 High Court ruling, [1] allowing suppliers in certain contexts to maintain "confidence in using take or pay clauses in their supply contracts" so long as they have been ...
Though a small group of players received bonus payments, the $600 amounts were roundly criticized as low for a video game that generated more than $500 million in sales last year. Players received ...