Cushion

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Related to cushioning: cushioning effect

Cushion

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

Cushion

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%.

cushion

References in periodicals archive ?
Similar cushioning performance was achieved even though slightly more than 11% of the foam cushion volume had been removed.
While experimental error was [+ or -]0.3G for the foam block and [+ or -]0.5G for the voided samples, the results suggested that under standard test conditions, air was pressurized ahead of the falling drop hammer and transmitted into the foam sample, giving slightly better cushioning than would occur in a practical package drop situation.
Second, full face cushioning may also cause problems in practice in the opposite manner by restricting air flow out of the cushion.
Perhaps the most direct method for selecting an impact-cushioning material is the use of cushioning efficiency curves, or J-curves (see figure 1).
A typical J-curve plots cushioning efficiency, J, as a function of impact energy density, U.
An idealized impact cushioning material should exhibit a J-value of 1.
These control pronation with stability and very little cushioning.
These provide complete stability with virtually no cushioning, controlling the extreme pronator.