Equity cure meaning

This glossary sets out numerous expressions frequently encountered in the restructuring arena. Words appearing in the definitions in bold are explained in other entries in this glossary. For further banking terminology, see the principal Banking & Finance Glossary. Restructuring glossary—A Acceleration: Acceleration means the agent, acting on directions from the majority lenders after an event of default, takes formal action, for example calling for early repayment of the facility. Ad-hoc committee: A temporary creditors’ group (often contrasted with a formal committee) that lacks any entitlement to official recognition. Administration: A process under the IA 1986 in which a financially distressed company is operated by an administrator as a going concern before longer-term outcomes, such as break-up and sale, are pursued. Administrator: An Insolvency Practitioner named by the court, a Qualifying floating charge holder, the directors or the company, to take control and fulfil one of the purposes in IA 1986, Sch B1. Administrative receivership: Arises when a company breaches the terms of...

Introduction An offshore wind farm is a generating plant comprising all the infrastructure needed to capture and gather wind energy, convert it into electricity, and securely deliver it to the main power network or a nearby local grid as required. Offshore wind is gaining prominence as a renewable solution to address climate change, with the UK and Europe leading globally in the development of large-scale offshore wind farms today. Though the recent gas shortages and spells of low wind in Europe have revealed the fragilities of relying on offshore wind for energy security, it unquestionably remains a crucial and growing share of the global energy mix, bolstered by rapid expansion in China. In recent years, the European offshore wind industry has flourished, most notably in the UK, which ranks among the largest markets and hosts several of the biggest operational offshore wind projects anywhere today. The UK’s objective is 50 GW of offshore wind by 2030, of which 5 GW is planned to utilise floating technology. By 2025, around...

This glossary sets out many of the expressions commonly used in the leveraged finance market. Words appearing in the definitions in bold are defined elsewhere in this glossary. For further banking terminology, please refer to the main Banking & Finance Glossary... Acquisition finance glossary—A Acceleration Acceleration is the formal action taken by the agent, on the instructions of the majority lenders, following an event of default, such as making a demand for early repayment of the loan. See Practice Note: Accelerating a loan for more information... Accordion feature/accordion facility An accordion, also called an incremental debt feature, is a mechanism in the facilities agreement that, provided specified conditions are satisfied (for example, pro forma compliance with a leverage test), permits those lenders under the facilities agreement who wish to do so to advance additional debt. The terms for that extra debt are typically captured in an increase notice. This accordion or incremental debt flexibility is different from structural adjustment, which usually requires the majority consent...