Examples of Back Leverage in a sentence
Due largely to the Tax Investor concerns described above, levered structures (i.e., those with debt at the project level) have been in the minority for financing wind projects in the U.S. Although term debt has been used in the market, the all-equity structures (including Back Leverage) described previously are more common.7 Short-term turbine supply loans and construction loans have been used more frequently than term debt, but these are replaced by equity upon the project commencing operations.
The Holders may not assign their rights and obligations hereunder (other than by operation of law); provided that a Holder may assign its rights and obligations hereunder to an Affiliate of such Holder and to any Person that has acquired the Notes or Ordinary Shares in connection with any foreclosure of any Notes or Ordinary Shares pledged in connection with the Back Leverage (as defined in the Purchase Agreement).
Debt (continued) The Company must maintain a debt service coverage ratio of 1.25, as defined in the Back Leverage Loan, and be in compliance with other covenants described in the Back Leverage Loan in order to make distributions to the Members should the Back Leverage Loan be drawn by the Company.
Notwithstanding the foregoing, in no event may a holder of Series A Preferred Stock convert any portion of the outstanding Shares of Series A Preferred Stock prior to earlier to occur of (A) the consummation of the CIS Spin-Off Transaction and (B) the Spin Cut-Off Date, provided that this restriction shall not apply with respect to any holder of Series A Preferred Stock that is a lender or other counterparty providing any Back Leverage (as defined under the Investment Agreement).8.4 Reservation of Stock.
From the mediaEpstein on Debt Burden in the US http://therealnews.com/t2/index.php?option=com_content&task=view&id=31&Itemid=7 4&jumival=8875 John Cassidy, “Are speculative bubbles good?” http://www.newyorker.com/news/john-cassidy/are-speculative-bubbles-good Week 4: Finance and the Economy-the Role of Credit Assigned readings:When Credit Bites Back: Leverage, Business Cycles, and Crises, Òscar Jordà, Moritz HP.