Temperament is the veto or limitation-power in the constitution, very justly applied to restrain an opposite excess in the constitution, but absurdly offered as a bar to original equity
. When virtue is in presence, all subordinate powers sleep.
CareTrust's investment for Cascadia of Nampa was approximately $12.8M, inclusive of transaction costs and after receiving credit for CareTrust's original equity
investment and preferred returns thereon.
"The original equity
contribution from funds managed by Oaktree Capital Management in 2016 helped provide the capital required to complete our Grand Mesa Pipeline and manage a very challenging industry cycle.
Additionally, the pool has a WA seasoning of 17 months (a decline from 24 months in 2017-A), WA original equity
of 25.7%, and 69.0% upgrades.
The project company will typically have few or no assets other than the original equity
and debt proceeds the project company raises for the project.
"We do not rely on debt to boost returns, we use only modest levels of leverage and on average we have invested an additional amount equivalent to a third of the original equity
purchase price into our businesses to strengthen and grow them through investment in research and development, capital equipment to improve manufacturing efficiencies and bolt-on acquisitions to benefit the businesses.
In addition to the asset acquisition, the companies will continue important joint development activities, and Hexcel will retain a portion of its original equity
stake in OPM along with its seat on OPM's board of directors.
"BGF's original equity
funding immediately helped us to secure a significantly larger bank facility, which helped us accelerate our development plans.
"Through our network of contacts, we were able to deliver the capital at a critical juncture after the original equity
source was unable to follow through," Gross said.
Indeed, such a proposition is consistent with Adams (1965) original equity
theory, with the outcomes and inputs as separate parts of the equity ratio.
The full release of CTA into earnings is based on the premise that the guidance views the original equity
investment and subsequent acquisition as two distinct events.