- This topic has 2 replies, 2 voices, and was last updated 5 days ago by mart54.
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I have a question on a lease liability / present value and a initial deposit.
Just to confirm when there is a lease question, the initial deposit is added to the ROU asset, but it has nothing to do with the lease liability amortised cost calc???
for eg if it gave you PV of future lease paymnts for example of say 200,000, you wouldnt deduct the initial deposit of say 20k from this figure for amort cost calc, the b/f would still be 200k?(not 180k?) even if initial deposit was on exact same date as pv figure?
Thank you in advance
Martin
Hi Martin,
This causes a lot of confusion for many students and the reason is because the 200,000 is the present value of future lease payments. The deposit is not a future lease payment and has already been paid ad therefore will not need deducting from the 200,000 figure. It will be added to the ROU asset as it is one of the payments made.
Thanks
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Payment to EVR in cleared funds of the Venue Hire Initial Deposit and, if applicable, the Catering Services Deposit.
The proceeds of the offering of Notes will be used, together with the proceeds of the sale of the Preferred Shares, to purchase Portfolio Collateral, to fund the deposits in the Closing Expense Account, the Initial Deposit Account and the Expense Reimbursement Account and to pay organizational, structuring, legal and offering fees and expenses.
In addition, any amounts on deposit in the Initial Deposit Account not applied to purchase (or committed to purchase) Portfolio Collateral by the Ramp-Up Completion Date will be applied as Collateral Principal Collections on the Payment Date in May 2004.
On the Closing Date, the Seller shall deposit the Reserve Account Initial Deposit into the Reserve Account.
Initial Deposit Definition
The Issuer, as a special purpose Cayman Islands company, will have no significant assets other than the Portfolio Collateral, the Cashflow Swap Agreement, the Collection Account, the Initial Deposit Account, the Expense Reimbursement Account, any Securities Lending Accounts and the Closing Expense Account.