Dec 16, 2020 07:38
3 yrs ago
18 viewers *
English term
waivers for covenant defaults
English to German
Bus/Financial
Finance (general)
Kredite
Der Satz lautet:
The Company is the obligor under a Credit Agreement, comprised of Revolving Line of Credit in the original principal amount of $3,000,000 and two Term Loan’s in the original principal amount of $1,300,000 (Term Loan A) and $300,000 (Term Loan B). As of September 30, 2020, Term Loan B has been fully repaid and the total due XXX Bank was $2,050,536. The Credit Agreement is secured by a lien on all the assets of the Company. XXXX Bank has been supportive of K. as it has worked through the turnaround including providing waivers for covenant defaults, deferring the amortization of Term Loan A during the IVP and facilitating Kochek securing a Payroll Protection Plan (“PPP”).
The Company is the obligor under a Credit Agreement, comprised of Revolving Line of Credit in the original principal amount of $3,000,000 and two Term Loan’s in the original principal amount of $1,300,000 (Term Loan A) and $300,000 (Term Loan B). As of September 30, 2020, Term Loan B has been fully repaid and the total due XXX Bank was $2,050,536. The Credit Agreement is secured by a lien on all the assets of the Company. XXXX Bank has been supportive of K. as it has worked through the turnaround including providing waivers for covenant defaults, deferring the amortization of Term Loan A during the IVP and facilitating Kochek securing a Payroll Protection Plan (“PPP”).
Proposed translations
(German)
| 4 | Verzicht auf das Gläubigerkündigungsrecht unter Kreditvertrags-Covenants |
Andreas Baranowski
|
Proposed translations
20 hrs
Andreas Baranowski
Japan
Japan
Native in German
Specializes in field
Japan
Institutional Investment Research
Native in: German (Variant: Germany) 
Works in: Japanese to German, English to German, Japanese to English
Related KudoZ points
:
9
Selected
Verzicht auf das Gläubigerkündigungsrecht unter Kreditvertrags-Covenants
Gläubiger verzichtet auf sofortige Fälligstellung im Falle der Nichterfüllung von Bedingungen, die in Zusatzklauseln zum Kreditvertrag an den Schuldner gestellt werden.
3 KudoZ points awarded for this answer.
Discussion
Es geht darum, dass die Bank bei Zahlungsverzug auf Verzugszinsen oder sonstige Rechtsmittel verzichtet hat. Covenant verstehe ich hier als "vertragliche Regelungen/Verpflichtungen", bei deren Erfüllung der Kreditnehmer in Verzug geraten ist und die Bank auf Sanktionen/Ahndung/Rechtsmittel verzichtet hat.