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margin ratchet

German translation: Ratchet-Marge

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)

English term or phrase:	margin ratchet
German translation:	Ratchet-Marge
Entered by:	Lydia Molea

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07:21 Jan 8, 2005

English to German translations [PRO]
Law/Patents - Law: Contract(s) / financing agreement

English term or phrase: margin ratchet

Margin ratchets
The Margin shall, in respect of all Term Facility Loans, all Revolving Facility Loans and all Integration Facility Loans:
(a) from the date of the Agreement until the date falling 12 months after the Closing Date, be the Initial Margin for the relevant Facility; and
(b) at any other time, subject to Clause x (Default Margin) and in accordance with the provisions of Clause y(Margin changes), be determined by the Leverage Ratio for the then most recently ended Relevant Period in respect of which financial statements have been delivered to the Agent pursuant to paragraph (a), (b) or (d) of Clause z (Financial statements) in accordance with the table set out below, provided that if, but for this proviso, the applicable Margin would reduce by more than 0.25 at any one time then it shall only reduce by 0.25.

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Lydia Molea KudoZ activity Questions: 211 (none open) (2 without valid answers) (1 closed without grading) Answers: 747 Germany
Local time: 02:28

Ratchet-Marge

Explanation:
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Note added at 2 hrs 30 mins (2005-01-08 09:52:31 GMT)
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Einerseits eine marktübliche feste Zinsvergütung, darüber hinaus jedoch zusätzlich eine Zinsspanne auf Ratchet-Basis.Danach können innerhalb bestimmter Grenzen Zinszu- oder -abschläge vorgenommen werden, die von der finanziellen Leistungsfähigkeit des Kreditnehmers abhängig sind. Die Ratchet-Marge ist zumeist an konkreten unternehmerischen Finanzkennziffern (z.B. cash flow) angeknüpft.

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Note added at 2 hrs 31 mins (2005-01-08 09:53:35 GMT)
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War etwas zum Wachwerden heute Morgen - Lydia