As part of that payment, Assured
Guaranty expects to issue USD 22.5m of its common shares to Feldstein.
Also, in this role DTW will help introduce prospective issuers to Assured
Guaranty and other market participants undertaking transactions, where financial guarantees could be beneficial.
The transition of the
Guaranty Bank/BestBank division to First Citizens Bank follows completion of a conversion that puts both banks on the same operational and technical systems and aligns customer accounts to First Citizens products and services.
The RV park will be in walking distance of
Guaranty's sales lot and its travel center, which offers parts and installation, repair and other services.
The good guy
guaranty is similar in nature to the 'bad boy
guaranty', both commonly found when dealing with entities that have little net worth.
In those few instances where a bank will consider a pro-rata
guaranty (perhaps because of other collateral that mitigates risk), the bank will likely require that the limited guaranties, in the aggregate, total more than 100% of the debt (e.g., 4 x 50% = 200%).
The credit team commonly considers the personal
guaranty for an HCRC at two levels: (1) to create leverage over the guarantor to direct the corporate customer to pay the invoices (the guarantor generally has authority within their company to direct vendor payments by virtue of their standing as an owner or officer); and (2) where the customer fails to pay the invoices, the vendor looks to the guarantor's assets to pay.
According to Corcoran, "The 'surplus' surplus approach and the other vital standards in this proposed regulation will help to protect policyholders, claimants and insurers from adverse financial
guaranty experience--not only by monoline insurers, but especially by multi-line insurers that we rely upon to provide liability insurance and other essential coverages for our businesses and citizens."