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93 Sentences With "secured loan"

How to use secured loan in a sentence? Find typical usage patterns (collocations)/phrases/context for "secured loan" and check conjugation/comparative form for "secured loan". Mastering all the usages of "secured loan" from sentence examples published by news publications.

The debt is likely to be structured as a secured loan with a first priority claim and a secured loan with a second priority claim, according to the same source.
It is also providing a secured loan of $660 million.
Most personal loans are unsecured, but it is possible to get a secured loan.
It is also considering a secured loan which could go up to $1.5 billion, bankers said.
The senior secured loan is amortised through 2021 and has an average maturity of 5.5 years.
The senior secured loan is amortised through 2021 and has an average maturity of 13 years.
The joint venture closed a 10-year, secured loan worth $101 million from a prominent institutional lender.
The banks are providing a roughly $330 million secured loan package with first- and second-lien seniority.
A second charge mortgage is a secured loan which uses the borrower's home as security $1 = 0.8101 pounds
Apollo provided a five-year secured loan worth $1.792 billion to pay down debt related to the deal.
Plus, to qualify for some loans if you don't have great credit, you'll likely need collateral for a secured loan.
It's worth calculating the interest you'll pay, and carefully considering options like a secured loan to bring down the interest rate.
Separately, Sears said Wednesday that it had entered into a $500 million committed secured loan facility that will mature in July 2020.
Rates are typically double-digit — higher than the rate on a secured loan like a mortgage, but lower than some credit card rates.
Collateral refers to those assets a bank can use to offer you a secured loan, such as real estate or other business assets.
Proceeds from the senior secured loan will fund the US private equity shop's sale-leaseback agreement to invest in 15 separate Pemex infrastructure assets.
Brookfield Asset Management is expected to raise a secured loan of about US$1bn-equivalent to back its proposed acquisition of Greenland Huangpu Center in Shanghai.
The company's nearest big maturity, which lands in July, is a secured loan facility of $500 million that it should be able to refinance, Emma said.
A bankruptcy judge can review the interest-rate escalation provision of a secured loan for legality but not for reasonableness, a federal appellate panel held Thursday.
The company is also considering raising a secured loan facility which could go up to $1.5 billion, with Natixis and SMBC having lead roles, bankers said.
Wind Tre intends to issue EUR and USD senior secured notes as well as an equally ranking senior secured loan to refinance all existing senior secured and unsecured debt.
The embattled department store chain announced Tuesday it has agreed to extend a portion of a $500 million secured loan facility and annuitize $0003 million of its pension obligations.
The mistake did not invalidate all liens securing the $1.5 billion loan, and the parties have spent years disputing whether GM assets such as robots and conveyor belts secured loan.
Augusta inked its existing unitranche loan via the Senior Secured Loan Program (SSLP), the former GE Capital and Ares Capital Corp joint venture that provided unitranche loans to US middle market companies.
Companies like Boeing are reportedly drawing on existing lines of credit, while United Airlines is one of the coronavirus-hit businesses that has taken out a new secured loan to help weather decreased revenue.
The two sides reach a private settlement whereby Alibaba pays Quixey $10 million in cash and agrees to provide a $30 million secured loan (the latter of which gets reported, but without specific mention of Alibaba).
Remember that if you take out a secured loan using your home, your car, or something else as collateral, you run the risk of losing whatever you&aposve leveraged should you become unable to pay your loans.
Prosecutors said Caspersen sought $24.6 million from a foundation affiliated with hedge fund Moore Capital Management and $400,000 from one of the fund's employees, saying he would invest it in a secured loan to a private equity fund.
On April 21, Sears said it was in talks with its lenders to evaluate refinancing options for its secured loan facility maturing in July, and that it would provide an update about the result of those talks in May.
The insurance software business had originally targeted a US$2.03bn-equivalent unsecured bond deal, but on Friday upsized its secured loan deal by US$300m to US$2.2bn to reduce the amount of bonds that it needed to sell.
The insurance software business had originally targeted a US$2bn-equivalent unsecured bond deal, but on Friday upsized its secured loan deal by US$300m to US$113bn to reduce the amount of bonds that it needed to sell.
The affirmation follows the addition of Boursorama Banque S.A. (Boursorama) as collateral provider under the programme, which took effect via a secured loan as per the provisions of article L-211-38 of the French Monetary and Financial Code.
LStar Capital, the credit arm of private equity firm Lone Star Funds, exited its partnership with Antares Capital last month, while GE Capital's Senior Secured Loan Program with Ares Capital ended following CPPIB's purchase of GE Capital's sponsored finance business.
Prosecutors said Caspersen, 39, sought $20093 million from a charitable foundation affiliated with a New York hedge fund along with $400,000 from one of the fund's employees, saying he would invest it in a secured loan to a private equity fund.
Total freehold assets were valued at GBP505 million in April 2016, which give Elli operating flexibility due to lower rental costs, and underpin our expectations of outstanding recoveries for the 'CCC+' rated super senior secured loan, three notches above the IDR.
The bridge loan includes a $3 billion, 7.5 year senior secured loan, which is split between $503 billion and $1 billion-equivalent euros, and an eight-year, $2.5 billion unsecured loan, which is split between $1.8 billion and $700 million-equivalent.
Thus, an exchange offer funded by a senior secured loan can provide bondholders with lots of incentives to participate — knowing that they will be subordinated by the senior loan after the exchange — with less need to offer a big premium.
The $22.5 billion bridge loan comprises a $220 billion 24.5-year senior secured loan, split between $25.6 billion and$230 billion-equivalent in euros, and an eight-year $6503 billion unsecured loan, split between $2650 billion and $212 million-equivalent in euros.
If you have just fair or even poor credit and are unable to qualify for one of these cards, but would still like to stop paying off debt at such a high interest rate, consider getting a secured loan with a lower APR.
A slew of online lenders, like Lending Club and Prosper, have emerged in recent years to offer these types of loans as the alternative, particularly for millennials that may want to consolidate their debt but don't have the home equity for a secured loan to do it.
Home equity products are best for: Homeowners who have a lot of home equity to borrow against Consumers who can get the best interest rates with a secured loan product People who have a lot of high-interest debt that will take years to pay down
A number of online lenders, like SoFi, Lending Club and Prosper, have emerged in recent years to offer these types of loans as the alternative, particularly for millennials that may want to consolidate their debt but don't have the home equity for a secured loan to do it.
A number of online lenders, like Lending Club and Prosper, have popped up in recent years to offer these types of loans as another way to borrow money, particularly for millennials who may want to consolidate their debt but don't have the home equity for a secured loan to do it.
The Times Frank Field, who heads the House of Commons Work and Pensions Committee, has written to the head of the Pension Protection Fund, the industry-funded lifeboat, querying a 22 million pound ($23 million) secured loan note granted to the fund by Greybull Capital, the private equity owner of collapsed airline Monarch. bit.
In Britain such lenders include pawnbrokers, offering an APR of between 25% and 101% for a secured loan; doorstep lenders such as Provident, the biggest, which will charge an APR of 1,558% for a 13-week loan; "payday lenders" such as Wonga, which offer similar rates for a loan to be repaid after 1-2703 days in one lump sum; and "rent-to-own" lenders, such as BrightHouse, which offer finance for purchases to be repaid in instalments.
Before the global economic crisis of 2006, the Financial Services Authority (FSA) estimated that the UK secured loan market had a net worth of £7,000,000,000. However, following the close of Lehman Brothers' sub-prime lender BNC Mortgage in August 2007, the UK's most prominent secured loan providers were forced to withdraw from the market.
The ATJB secured loan funds from the State, and the line opened in 1901. Under the same provisions, Cairns Shire Council built a 23 km line south to Gordonvale in 1897, and extended it 37 km to Babinda in 1910.
Nonrecourse debt or a nonrecourse loan (sometimes hyphenated as non-recourse) is a secured loan (debt) that is secured by a pledge of collateral, typically real property, but for which the borrower is not personally liable. If the borrower defaults, the lender can seize and sell the collateral, but if the collateral sells for less than the debt, the lender cannot seek that deficiency balance from the borrower—its recovery is limited only to the value of the collateral. Thus, nonrecourse debt is typically limited to 50% or 60% loan-to-value ratios, so that the property itself provides "overcollateralization" of the loan. The incentives for the parties are at an intermediate position between those of a full recourse secured loan and a totally unsecured loan.
The Tropicana, which had a $440 million secured loan against it, was bought from the bankrupt company in July 2009 by its creditors, led by Canadian private equity firm Onex Corporation and former MGM Mirage CEO Alex Yemenidjian, who took over as CEO. The remainder of Columbia Sussex's gaming business, reorganized under new ownership as Tropicana Entertainment Inc.
A secured loan is a loan in which the borrower pledges some asset (e.g., a car or house) as collateral. A mortgage loan is a very common type of loan, used by many individuals to purchase residential property. The lender, usually a financial institution, is given security a lien on the title to the property until the mortgage is paid off in full.
Generally speaking, secured debt may attract lower interest rates than unsecured debt because of the added security for the lender; however, credit risk (e.g. credit history, and ability to repay) and expected returns for the lender are also factors affecting rates. The term secured loan is used in the United Kingdom, but the United States more commonly uses secured debt.
Hence, the borrower's promises, as well as the structure of the promises, are very important for the transaction to be realized. One of the options in dealing with the limited commitment problem is providing collateral. The contract is formed such that in case of default, the lender has all/some rights to seize the collateral. This is called a secured loan in finance.
Any asset that is purchased through a secured loan is said to have equity. While the loan remains unpaid, the buyer does not fully own the asset. The lender has the right to repossess it if the buyer defaults, but only to recover the unpaid loan balance. The equity balance—the asset's market value reduced by the loan balance—measures the buyer's partial ownership.
On October 6, 2008, the Debtor-In-Possession reached an agreement to transfer the license and equipment leases for KNOU to Power Broadcasting, LLC. According to the Asset Purchase agreement filed with the FCC, Power Broadcasting had a secured loan for $8 million that it presented to the bankruptcy court and was awarded the station's assets, subject to FCC approval. The transfer was completed on December 1, 2008..
Hyundai Capital Services largely provides auto financing, private financing and corporate financing services. The auto financing service offers lease, rental services as well as new car installment loan, used car loan, direct used car loan. For the private financing service, the company offers credit Loan, car secured loan, housing mortgage loan, loan for lease, housing finance corporation. For the corporate financing service, the company provides corporate loan and corporate lease.
Similar to a traditional car title loan, a car title pawn uses both the car title and the physical vehicle (which is usually stored by the lender) to secure the loan much like any secured loan works, and there are the same risk and factors involved for the borrower but in most cases they will receive more cash in the transaction since the lender has both the vehicle and title in their possession.
On November 21, 2012, the company announced errors that will force restatement of prior period financial statements and postponement of Q3 2012 results. The 2009, 2010 and 2011 years and 1Q12 and 2Q12 will be restated; KITD says investors should no longer rely upon previously issued statements for those periods. The company says an event of default exists in a secured loan facility that has 11 mln. USD outstanding; that its cash balance has dwindled to US$10.6 mln.
If a credit provider properly cancels a credit agreement, the court may order the attachment of the goods, allowing for the sale of the goods to settle the account. This procedure follows the usual common law. If the proceeds of the sale are not sufficient to settle the account, the credit provider may approach the court for an order to recover the outstanding balance. This applies in the case of the instalment agreement, secured loan or lease.
Ocean Finance is a loans, credit card and mortgages business set up in 1991 in Staffordshire, United Kingdom. It became infamous in the late 1990s and early 2000s for its advertising, including sponsoring its own channel on Sky TV and its advertising became widely parodied. The firm prospered on the back of rising house prices and the credit boom. By 2002 the firm was a leading player in the UK's secured loan market valued at over £14bn.
According to an Arkansas Democrat-Gazette report published on June 14, 2007, the MM Cohn stores were to be among more than 40 Dunlap-owned stores in eight states to close by the end of 2007. The liquidation followed news of Dunlaps defaulting on secured loan obligations to Wells Fargo Retail Finance and inability to obtain new financing. The total debt owed to Dunlaps' creditors, as indicated by a creditor's letter obtained by the newspaper for its report, totaled about $14 million.
In Canada, a debenture refers to a secured loan instrument where security is generally over the debtor's credit, but security is not pledged to specific assets. Like other secured debts, the debenture gives the debtor priority status over unsecured creditors in a bankruptcy;Restructuring and insolvency in Canada: overview, Thomson Reuters Practical Law. Retrieved 22 June 2017. however debt instruments where security is pledged to specific assets (such as a bond) receive a higher priority status in a bankruptcy than do debentures.
However, it does not fully solve the problem because there are costs associated with seizing the pledged asset. One source of these costs is the money and time spent enforcing the contract. Another reason for capital market imperfections associated with limited commitment is the ability of the borrower to renegotiate the terms of the contract ex post. Even though the contract is signed as a secured loan, because of the enforcement costs, the lender never gets the full payment in case of default.
A secured loan is a loan in which the borrower pledges some asset (e.g. a car or property) as collateral for the loan, which then becomes a secured debt owed to the creditor who gives the loan. The debt is thus secured against the collateral, and if the borrower defaults, the creditor takes possession of the asset used as collateral and may sell it to regain some or all of the amount originally loaned to the borrower. An example is the foreclosure of a home.
Open-ended term repurchase agreements are also possible. A so-called reverse repo is not actually any different to a repo; it merely describes the opposite side of the transaction. The seller of the security who later repurchases it is entering into a repurchase agreement; the purchaser who later re-sells the security enters into a reverse repurchase agreement. Notwithstanding its nominal form as a sale and subsequent repurchase of a security, the economic effect of a repurchase agreement is that of a secured loan.
PawnHero is the first online pawnshop in Southeast Asia that aims to solve the problem of expensive credit for base-of-the-pyramid consumers in emerging markets. It was first launched in the Philippines in February 2015 to meet the quick loan needs of the country. Recent studies have shown that only two out of 10 Filipinos have bank accounts and less than five percent have credit cards. PawnHero accepts a wide range of pawnable items that include jewelry, luxury goods, electronics, home equipment, and other personal items as collateral for a secured loan.
The first vehicle off the line was presented to Marc Buoniconti, a former linebacker for The Citadel who was partially paralyzed in 1985. In May 2010, Azure Dynamics announced it had chosen AM General to assemble its electric drivetrain for Ford Transit Connect vehicles for the North American market at its Livonia, Michigan, factory. In September 2013, AM General reached an agreement to purchase the United States Department of Energy's secured loan to the Vehicle Production Group (VPG). Prior to this, AM General acted as sole vehicle assembler for VPG.
Yung settled the dispute by agreeing in July to step down, leaving the other four board members in place. In May 2009, Tropicana, seeking to focus its Tahoe-area efforts on the MontBleu, transferred the Horizon Casino to a Columbia Sussex affiliate. Table games at the casino were eliminated, with a possible downsizing of slots also planned. The Tropicana Las Vegas, which had a $440 million secured loan against it, emerged from bankruptcy in July 2009 as a separate company led by Canadian private equity firm Onex and former MGM Mirage president Alex Yemenidjian.
The certification of ownership of automotive vehicles is handled by each state's DMV normally by issuing a vehicle title. The types of vehicles certified by a DMV varies by state. While almost all DMVs title vehicles that are driven on roadways, the responsibility to title boats, mobile homes, and off-road vehicles can be the responsibility of other agencies such as a Department of Natural Resources (DNR). As the issuer of vehicle titles, DMVs are also usually responsible for recording liens made with an automobile as collateral on a secured loan.
It is also used in legal standards such as the par value of stock and capitalization of companies, and fines. It has become the preferred and predominant measure to determine the cost of real estate, values of housing and any secured loan, either private or of the Chilean government. Individual payments are made in Chilean pesos (the country's legal tender), according to the daily value of the UF. A similar currency unit for use generally in payment of taxes, fines, or customs duty is the Unidad Tributaria Mensual (UTM) (literally: monthly tax unit).
Angus then goes to Bank B in Hawick and asks for a secured loan > with Bank B with a standard security offered over his flat. Bank B's > solicitor, negligently, does not see the Bank A's advance notice when > conducting her due diligence and draws up the standard security > documentation and Bank B has Angus's sign the standard security validly. > Bank B's solicitor sends this standard security for registration on 11th > May. The Keeper registers Bank B's standard security and updates Section C > of the flat's Title Sheet on 14 May 2020.
On November 15, 2006, US Airways Group announced a proposal to purchase Delta Air Lines for $8.0 billion, half of this amount to be paid in cash with the remainder to be paid in stock. US Airways Group had obtained a firm commitment from Citibank to provide financing for both the cash portion of the merger offer, as well as the required secured loan refinancing at both airlines. The combined airlines would have flown under the Delta Air Lines name. Delta Air Lines repeatedly stated its intentions of exiting bankruptcy as a stand-alone carrier.
On 8 December 2015, Sands Heritage were forced to apply to the High Court for a company voluntary arrangement (CVA) in relation to a debt of £2.9m owed to Arrowgrass. This amounted to the original £600 000 owed as a secured loan, plus unpaid compound interest and charges. At a meeting on 23 December 2015 the company's creditors agreed to accept the CVA, allowing the company more time to pay off its existing debts. Sands Heritage representatives at the meeting promised that the debt to Arrowgrass would be repaid over five years - as a secured debt, this took priority over other debts.
In July 2008, SemGroup ran into liquidity problems and warned that it may have to file for bankruptcy as part of a financial restructuring. Adding to SemGroup's troubles, hedge funds run by Alerian Capital Management and Elliot Associates exercised the terms of a secured loan made to SemGroup and took over the general partnership interest in SemGroup Energy Partners LP. On July 22, 2008, Semgroup, LP filed for Chapter 11 bankruptcy protection in U.S. Bankruptcy Court in Wilmington, Delaware.forbes.com "Did Goldman Goose Oil?" - March 25, 2009 The company listed both debts and assets of more than $1 billion.
YS Chowdary was under media scanner for an allegation by the Mauritius Commercial Bank Ltd of Mauritius on the grounds that the company defaulted on the Rs 1.92 billion loan it availed through its subsidiary. This allegation popped up a day after the Rajya Sabha MP-cum-industrialist was sworn in as a Union minister. A clarification from the MPs office later said that he had not secured loan from the Mauritius Commercial Bank. It was his group firm – Sujana Universal Industries —that borrowed the funds and he only stood as a guarantor to the loan obtained by that step-down subsidiary.
A title loan (also known as a car title loan) is a type of secured loan where borrowers can use their vehicle title as collateral. Borrowers who get title loans must allow a lender to place a lien on their car title, and temporarily surrender the hard copy of their vehicle title, in exchange for a loan amount. When the loan is repaid, the lien is removed and the car title is returned to its owner. If the borrower defaults on their payments then the lender is liable to repossess the vehicle and sell it to repay the borrowers’ outstanding debt.
Second lien loans are used in leveraged buyouts to fill small gaps between the financing needs of the borrower and maximum thresholds (measured by various leverage metrics) of senior secured lenders. The arrangement fee and interest (finance) of a second lien loan are higher than those of the first lien secured loan of the same borrower because of increased risk for the lender that comes from a subordinated security interest. However, second lien debt can often reduce the overall cost of capital in a leveraged buyout transaction, replacing other more expensive forms of financing (e.g., senior unsecured debt).
Angus needs to raise money for his business and > decides to obtain multiple secured loans from banks in order to help him. He > travels to Edinburgh and goes to Bank A for a secured loan, with him > offering Bank A a standard security in his flat. Bank A agrees to his terms > and Bank A's solicitors draw up the required documentation and Angus > consents to Bank A solicitors applying for an Advance Notice to be placed in > advance of registration of the standard security. The Keeper accepts the > application for an advance notice and places it in the Application Record on > 8th May.
The claimant lender sent notices, followed correct procedure and sued for possession as its secured loan demanded actual occupation. The Saudi Princess, occupying the property through an arrangement with the defendant company, claimed she had been in actual occupation of a house, retained clothing, furniture and caretaking arrangements in place,Land Law: Text, Cases, and Materials 3rd Ed. 2012 imprint, Ben McFarlane, Nicholas Hopkins, Sarah Nield, OUP (Publisher). She sought that the orders should be reversed. The claimant plead the Princess's admittance of not being in the home for more than a year and having only been intermittently resident before.
This appeal raised over £130,000 from 824 individuals.MacAskill (1999) pp. 60-78 Money came from throughout the United Kingdom, as well as abroad. Political figures such as the local Member of Parliament, Robert Maclennan,Maclennan's ancestors had been expelled from their homes during the Highland Clearances. He gave £1,300--£50 for every year he had served as an MP. MacAskill (1999) page 68 Ray Michie, Alex Salmond, Winifred Ewing and Charles Kennedy donated, as did the rock band Runrig. A secured loan of £90,000 was received from Highland Prospect Limited, a company set up by Highland Regional Council to promote investment in the Highlands by providing grants and low-interest loans.
For example, the interest rate (APR) on an unsecured loan is often much higher than on a secured loan or logbook loan. If a borrower defaults on a loan (due to insolvency or another event), that borrower loses the property pledged as collateral, with the lender then becoming the owner of the property. In a typical mortgage loan transaction, for instance, the real estate being acquired with the help of the loan serves as collateral. If the buyer fails to repay the loan according to the mortgage agreement, the lender can use the legal process of foreclosure to obtain ownership of the real estate.
The practice of Lombard credit is still commonly used in central banking, where central banks lend against marketable securities, such as government bonds. Modern repo (repurchase-sale transactions) are also forms of Lombard lending: one bank sells marketable securities to another (at a discount), with an agreement to repurchase the securities (typically at par) in a fixed period of time. Although the legal documentation of the transaction is that of a sale and subsequent repurchase, the substance of the transaction is a secured loan (and under most accounting standards, will be treated as a loan). Pawn shops in many countries and languages are often still referred to as Lombards.
In 2005 Chelsea opened a purpose-built customer contact centre close to the Head Office at the former Charlton Kings railway station as a commitment to keep its call centres UK based, which won environmental awards for its use of geothermal heating, green building and "green" credentials.Chelsea key facts and figures Its two offices in Cheltenham employed over eight hundred staff. In February 2007 the society acquired Britannia Capital Securities (BCS), a medium-sized independent firm of secured loan and mortgage brokers operating in the UK, in order to further diversify their lending.Chelsea Press Release 9 February 2007 The society remained operational during the 2007 United Kingdom floods, despite having no running water for several weeks.
On 24 October 2009, media sources reported that Donington had failed to raise the £135 million needed to stage a British Grand Prix. The BBC commented in its coverage that: "Donington's bid looks over, and that Ecclestone has offered the race to Silverstone." Although DVLL gave further public relations assurance that it would be able to raise the required finance and host the Grand Prix, on 29 October 2009, Ecclestone confirmed that the British Grand Prix would not be held at Donington. On 18 November 2009, the company went into administration with debts to contractors and suppliers approaching £4 million and a secured loan of £14 million with Anglo Irish Bank, according to the Administrator's report. .
In September CH2M Hill announced it was set to acquire the company, and on 10 November 2011 CH2M Hill announced that it had completed the acquisition of Halcrow for £124m. It was subsequently reported that Halcrow was effectively rescued by CH2M Hill, having incurred a pre-tax loss of £71m in its last year of independent trading (to 31 December 2011), on a turnover of £238m, down from £331m in 2010. Accounts lodged with Companies House showed that CH2M Hill's financial backing was crucial to Halcrow’s survival; the US firm agreed a secured loan to the company in December 2012 without which there would have been doubt regarding the firm’s ability to continue as a going concern.
These funds were used to introduce a collection of 17 additional rides to create the amusement park, as well as a Roller Disco & Diner, Amusement Arcade, Vintage Pin Ball Arcade, Dreamland Emporium and The Octopus's Garden. The running agreement between Sands Heritage and Thanet District Council involved the former taking out a 99-year lease of the freehold property owned by the council as a result of the CPO, while the council remained responsible for certain aspects of repair and maintenance including as regards the Scenic Railway. Part of the capital raised by Sands Heritage was a £600 000 short-term secured loan from Arrowsmith Master Fund, an investment company based in the Cayman Islands. This company also held 31% of the share capital of Sands Heritage.
On March 29, 2009, the U.S Treasury committed to fund a government guarantee of General Motors' warranty liabilities, up to US$360.6 million. On May 27, 2009, the U.S. Treasury advanced a secured loan of US$360.6 million to GM, and GM issued a note to the Treasury for US$360.6 million, plus US$24.1 million as additional compensation for the warranty advance, pursuant to the terms of the Warranty Agreement dated December 31, 2008, between GM and the U.S. Treasury. The loan funded a separate account established by GM Warranty LLC, a new special purpose subsidiary of GM that was formed to operate the warranty program. GM also on May 29, 2009, contributed $49.2 million to GM Warranty LLC to fund the program.
Some privatization transactions can be interpreted as a form of a secured loanU. of C. professor argues privatization of public assets just like borrowing money, July 22, 2011, Chicago Tribune, Ameet Sachdev's Chicago Law, Ameet Sachdev and are criticized as a "particularly noxious form of governmental debt". In this interpretation, the upfront payment from the privatization sale corresponds to the principal amount of the loan, while the proceeds from the underlying asset correspond to secured interest payments – the transaction can be considered substantively the same as a secured loan, though it is structured as a sale. This interpretation is particularly argued to apply to recent municipal transactions in the United States, particularly for fixed term, such as the 2008 sale of the proceeds from Chicago parking meters for 75 years.
Miller was born in 1915 in Melbourne, Victoria, the son of Septimus and Helen Miller and he attended Xavier College as a young man where he became friends with Sam Calder whom he would remain friends with for the rest of his life. After he left college he made friends with Edward Connellan, another man who would become a huge part of his life and he introduced him to Calder. When World War II broke out Miller and Calder immediately volunteered for the RAAF but first flew to Alice Springs to help Connellan establish Connellan Airways; which Miller helped finance (on a secured loan basis), with the assistance of his wealthy grandfather Henry Miller. Miller, with the other staff, helped build the Connellan hangar and construct the airstrips and flight paths.
Link Lending Ltd v Bustard [2010] EWCA Civ 424 is an English land law case, concerning actual occupation in registered land and the vulnerable, in this case a defrauded person suffering from a mental syndrome who would have had little concept of what was occurring. The case decided that an intention to return home, from fraud-induced absence, of the rightful owner can count as "actual occupation" for the purposes of overriding interests which binds new owners and lenders in domestic properties. The defrauded owner was not absent at the time of the transfer of the home but was at most times for many months during a new replacement secured loan obtained by the fraudster.Link Lending Ltd v Bustard HTML Version of the Judgment HM Courts and Tribunals: the Court of Appeal; reprinted at bailii.
AMR was originally developed by Sancus Capital Management, an active investor in the CLO market not only as means to increase the efficiencies and reduce the costs of Traditional Refinancings, but also as a means for CLOs whose original issuance date predated the effective date of the U.S. risk retention rules to avoid being subject to the U.S. risk retention rules as a result of a Traditional Refinancing. In response to a request letter on behalf of Sancus Capital Management, the SEC confirmed in a Sept. 1, 2016, no-action letter that resetting the applicable margin of an AMR Class using AMR procedures would not constitute an “offer and sale of asset- backed securities by an issuing entity” and would therefore be unlikely to require compliance with the U.S. risk retention requirements. The Atlas Senior Secured Loan Fund VIII, Ltd.
In Kreglinger v New Patagonia Meat and Cold Storage Co Ltd[1913] UKHL 1 the House of Lords held that an agreement by New Patagonia to sell sheepskins exclusively to Kreglinger in return for a £10,000 loan secured by a floating charge would persist for five years even after the principal sum was repaid. The contract to keep buying exclusively was construed to not be a clog on redeeming autonomy from the loan because the rule's purpose was to preclude unconscionable bargains. Subsequently, the clog on the equity of redemption rule as a whole was abolished by what is now section 739 of the Companies Act 2006. In Knightsbridge Estates Trust Ltd v Byrne[1940] AC 613 the House of Lords applied this so that when Knightsbridge took a secured loan of £310,000 from Mr Byrne and contracted to repay interest over 40 years, Knightsbridge could not then argue that the contract should be void.
In the event of a bankruptcy or liquidation, the assets used by the company as security would first be provided to the first lien secured lenders as repayment of their borrowings. To the extent that the value of the assets is sufficient to satisfy the company's obligations to the first lien secured lenders, any additional proceeds from the sale of the pledged assets would then be made available to the second lien lenders as repayment of the second lien loan. With almost no exceptions, a borrower will take a second lien loan either at the same time or after taking a traditional first lien secured loan and the secured lenders will place limitations on the borrower's ability to pledge its assets or borrow additional secured debt. The specific rights of the first lien and second lien lenders are established in the credit agreements between the borrower and each class of lender as well as in an intercreditor agreement.
The company was specialized in secured loan (by a fifth of salary). , Banca Nuova owned 88.67% shares. The other shareholders at that time were parent company BPVi (6.34%) and fellow Sicilian bank Banca Popolare Sant'Angelo (5%). On 1 March 2011, the old legal person of Banca Nuova was replaced by another of the same name, the latter was incorporated on 31 August 2010.agenzia delle entrate using P.IVA 05940510828 (in Italian) After the deal, PrestiNuova became a sister company of Banca Nuova, instead of a subsidiary, which BPVi owned 95% and reaching 100% of the shares in 2013. Banca Nuova and its parent company BPVi suffered from capital shortfall in 2016 (for example, Banca Nuova's CET1 capital ratio was 6.74% at 31 December 2015, barely above the requirement; same condition in the parent company (Group's CET1 ratio was 6.65%)). After the failure of the initial public offering of its shares since its became a società per azioni, the parent company was bail-out by its underwriter Atlante in mid-2016 for about €1.5 billion, which replaced UniCredit as underwriter. As part of the scandal of the parent company BPVi in 2016–17, the bank was suffered from lawsuit regarding mis-selling of the shares of BPVi to the depositors of the bank, during the parent company was a cooperative ().

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