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garanzia di prima e seconda istanza

English translation: primary (first level) and secondary (second level) guarantee

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14:00 Mar 20, 2007
Italian to English translations [PRO]
Bus/Financial - Finance (general)
Italian term or phrase: garanzia di prima e seconda istanza
not much context I'm afraid - this is included in a list of 'tipo garanzia'
Any help very much appreciated!
Lesley Burgon
Local time: 22:21
English translation:primary (first level) and secondary (second level) guarantee
Explanation:
Assuming we are talking about financial guarantees

"The $6 billion loan will be made by Berkadia LLC, an entity formed for this ... a 10% primary guarantee and Berkshire providing a secondary guarantee of ..."

My example refers to guarantees given on a loan (eg, by a parent company or other interested party) rather than a loan or multiple loans secured on a single asset or pool of assets.

More context...such as the section header of the accounts you are translating or the table no. (if it is a bank) would help clarify this.


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Note added at 21 mins (2007-03-20 14:21:46 GMT)
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"Affirmative Covenant Default means, so long as the same shall continue, ... Energy Fuel in its capacity as a guarantor under a Secondary Guarantee."

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Note added at 22 mins (2007-03-20 14:23:19 GMT)
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The entity giving the primary guarantee (such as in the example of Berkadia LLC above) would take the first loss in the event of a default. Sort of a tiered risk structure.
Selected response from:

xxxDCypher
Local time: 22:21
Grading comment
This is correct in this particular context - thanks also to Grey for your input!
4 KudoZ points were awarded for this answer

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Summary of answers provided
4primary (first level) and secondary (second level) guaranteexxxDCypher
4first and second mortgages
Grey Drane


Discussion entries: 1





  

Answers


6 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
first and second mortgages


Explanation:
Probably...

Grey Drane
United States
Local time: 13:21
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 222
Login to enter a peer comment (or grade)

16 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
primary (first level) and secondary (second level) guarantee


Explanation:
Assuming we are talking about financial guarantees

"The $6 billion loan will be made by Berkadia LLC, an entity formed for this ... a 10% primary guarantee and Berkshire providing a secondary guarantee of ..."

My example refers to guarantees given on a loan (eg, by a parent company or other interested party) rather than a loan or multiple loans secured on a single asset or pool of assets.

More context...such as the section header of the accounts you are translating or the table no. (if it is a bank) would help clarify this.


--------------------------------------------------
Note added at 21 mins (2007-03-20 14:21:46 GMT)
--------------------------------------------------

"Affirmative Covenant Default means, so long as the same shall continue, ... Energy Fuel in its capacity as a guarantor under a Secondary Guarantee."

--------------------------------------------------
Note added at 22 mins (2007-03-20 14:23:19 GMT)
--------------------------------------------------

The entity giving the primary guarantee (such as in the example of Berkadia LLC above) would take the first loss in the event of a default. Sort of a tiered risk structure.

xxxDCypher
Local time: 22:21
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 1066
Grading comment
This is correct in this particular context - thanks also to Grey for your input!
Login to enter a peer comment (or grade)




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