carve-out

carve-out
USA
This term has a number of meanings. In the context of:
• Finance: A specific exception to a negative covenant or other provision in a loan agreement. For example, in the covenant which limits the sale of assets by the borrower, a carve-out would permit the sale of obsolete or worn out property disposed of by the borrower in the ordinary course of business.
• Securities and Capital Markets: A specific exception to a negative covenant in an indenture.
• Bankruptcy: An agreement by a senior secured creditor to set aside a portion of its recovery for the benefit of a junior creditor, without regard to the absolute priority rule. Carve-outs usually arise in the context of DIP financing, where the DIP lender agrees to set aside a portion of the funding or a portion of its collateral to pay the fees of the professionals working for the debtor and the creditors' committee.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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  • Carve-out — Сarve out Полный пересмотр долга способ решения проблемы задолженности развивающихся стран путем реструктуризации всего долга, а не отдельных кредитов. Equity carve out   Выделение части акционерного капитала – продажа материнской компанией на… …   Финансовый словарь

  • carve out — (something) 1. to create a reputation, rank, or job through skillful activities. She carved out a reputation for herself as a high powered lawyer. 2. to get a part of something. Those companies carved out a sizable share of the imported pasta… …   New idioms dictionary

  • carve out — verb 1. establish or create through painstaking effort She carved out a reputation among her male colleagues • Hypernyms: ↑create • Verb Frames: Somebody s something 2. remove from a larger whole the new start up company carved out a large chunk… …   Useful english dictionary

  • carve out — phrasal verb [transitive] Word forms carve out : present tense I/you/we/they carve out he/she/it carves out present participle carving out past tense carved out past participle carved out to develop a career or position for yourself by working… …   English dictionary

  • Carve out — Unter einem Equity Carve Out (englisch, deutsch etwa: Herausschnitzen von Eigenkapital ), teilweise auch Spin out, versteht man eine Form der Desinvestition, bei der ein Konzern Anteile einer Tochtergesellschaft im Zuge einer Neuemission (Initial …   Deutsch Wikipedia

  • carve-out — n. The process of setting up a portion of a corporation as a separate business and selling some of its shares in an initial public offering. (Also: the business so formed.) Example Citation: In a pure spinoff, a parent company distributes 100… …   New words

  • Carve-out — 1. Sometimes known as a partial spinoff, a carve out occurs when a parent company sells a minority (usually 20% or less) stake in a subsidiary for an IPO or rights offering. 2. Where an established brick and mortar company hooks up with venture… …   Investment dictionary

  • carve out — Usually occurs when a company decides to IPO one of their subsidiaries or divisions. The company usually only offers a minority share to the equity market. Also known as equity carve out. Bloomberg Financial Dictionary …   Financial and business terms

  • carve out — phr verb Carve out is used with these nouns as the object: ↑career, ↑exception, ↑niche, ↑path, ↑role, ↑slice …   Collocations dictionary

  • carve out something — carve out (something) 1. to create a reputation, rank, or job through skillful activities. She carved out a reputation for herself as a high powered lawyer. 2. to get a part of something. Those companies carved out a sizable share of the imported …   New idioms dictionary

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