Is the movement of money into or out of a business, project, or financial product. It is usually measured during a specified, limited period of time. Measurement of cash flow can be used for calculating other parameters that give information on a company's value and situation.

Is a borrower's pledge of specific property to a lender, to secure repayment of a loan, therefore, serves as protection for a lender against a borrower's default—that is, it can be used to offset the loan to any borrower failing to pay the principal and interest under the terms of a loan obligation.

A finance structure that provides the lessor lease payments equal to debt service payment plus a return on equity, and provides the lessee the long-term lease of the property, usually for transferring tax benefits.

The event in a project at which each of the conditions precedent to the initial draw- down of funds under the credit agreement are either satisfied by the project company, as borrower, or waived by the project lender.

London Interbank Offer Rate, being the rate at which banks borrow money from other banks in the London interbank market.

A lending arrangement under which repayment of the debt is recourse to the own- ers of the borrowing entity in the event of certain defaults, but in general the lenders rely on the project cash flow for debt repayment.

1. Debt are funds borrowed by the project company from any of various debt sources, including commercial lenders.
2. Equity are funds and other assets contributed to the capital of the project sponsor to provide the capital needed for the project.

- an entity that develops a project and owns, in whole or in part, a project company.

A guarantee, provided in lieu of retention, that gives the project company, as beneficiary, the right to receive from the contractor payments equal to the amount that would otherwise have been retained from construction contract payments, if the project is not completed or defects are discovered within an agreed upon period.

Project financing in which two or more project participants are entities organized in or owned by entities organized in different countries, or in which the project is located in a country different from the project participants.


Reference of a dispute to an impartial person or panel chosen by the parties who agree in advance to abide by the arbitration award issued after the hearing at which both parties have an opportunity to be heard.

Failure to perform a contractual obligation or interference with another party's performance, which incurs a right for the other party to claim damages.

Legal system developed from Roman codified law, established by a state for its regulation; 2) area of the law concerned with non-criminal matters, rights and remedies.

Body of law that regulates business activities and markets, especially agreements and practices that limit competition (US antitrust law).

Refers to provisions or actions, which may be enforced as law in the relevant jurisdiction; such provisions and actions have the force of law.

Claim or interest resulting from a legal proceeding in which party A (creditor) requests a court to issue an order or writ against party B (garnishee) holding property of or owing money (e.g. bank account or wages) to party С (debtor) to release the relevant property or money to the creditor;
2) The whole process involved in the legal proceedings described in 1) above.

Laws that concern relations between countries (= public international law) and laws that concern private transactions and disputes between parties from different nations (= private international law /conflict of laws).

1) Power of a court, authority or other official body to decide a legal case or to make an order; 2) Extent of this power; 3) Territory in which this power exists; 4) Area in which a particular legal system operates; 5) System of law courts that make up a particular legal system.

Similar to security, except the creditor has actual ownership over the property while the debtor only has possession. In case of default, the creditor can simply take back possession of the property. Serves the same purpose as security, but is not recognised by the law as such.

Guarantee that the seller has title to the property being sold, that there are no liens or encumbrances on the property other than those that have been disclosed, and that the transfer of property is valid.