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In the context of project financing, the extra amount of net cash flow remaining after expected debt service.


1. Period of time during which a bond cannot be called. Interest payments are guaranteed during the cushion, but not after, as the bond may be prematurely redeemed at any point after the call date.

2. A reserve account, or the function a reserve account serves, usually to pay off bad debt.

3. An advantageous debt-to-equity ratio, usually less than 40%.


References in periodicals archive ?
99 OFFER - FREE Chenille cushion case worth approx pounds 6.
Developed with a special crown lock as a result of the need to increase the water resistance and durability of the classic cushion case, the Luminor 1950 10 Days GMT is an elegant yet sporty rendition of this iconic style.
Watercolour check full bed set - Buy the bed set and get a free chenille cushion case worth pounds 6.