Glossary

Represents a report of a company’s accounts payable broken down to the total balance due from each vendor, which are then further allotted between “buckets” based on date, whether that be Date from Invoice or Due Date aging (i.e. Current A/P, 30-60 DOI A/P, etc.).

Also known as “specified representations language” and “SunGard conditionality”, SunGard provisions are used to limit the closing conditions in an acquisition financing deal and to increase deal certainty.  These provisions are sought after by sellers and private equity sponsor buyers, are prevalent in large-sponsored transactions, and are becoming more common in middle-market sponsored deals as well.

Superpriority liens have priority senior to all current or future liens on the same asset or property (other than those subject to ultrapriority liens) and thus entitle creditors with superpriority status to receive payment before all junior creditors. 

Swingline Loans are short-term loans (generally not more than a week in tenor) extended under a Sub-Limit within a larger, syndicated revolving credit facility; and are generally available to the Borrower on shorter notice.

Treasury management (or treasury operations) comprises the management and administration of an enterprise's cash and liquidity resources. Cash and liquidity functions (or components) within Treasury Management include management of a company’s cash sources and uses, bank accounts, and investment activities.

A trial balance is a bookkeeping worksheet in which the balances of all ledgers are compiled into debit and credit columns. A company prepares a trial balance periodically, usually at the end of every reporting period. The general purpose of producing a trial balance is to ensure the entries in a company's bookkeeping system are mathematically correct. 

An individual person or member of a board given control or powers of administration of property in trust with a legal obligation to administer it solely for the purposes specified. Trustee may be appointed for a wide variety of purposes, such as in the case of bankruptcy, for a charity, for a trust fund or for certain types of retirement plans or pensions

A turnaround occurs when a company takes successful steps to correct a period of deteriorating financial performance.