Glossary · Debt metrics
Cash sweep
A mechanism that diverts surplus cash to debt repayment when a covenant is breached.
Why it matters
It is the lender's first remedy short of acceleration.
Related
- Covenant
A contractual condition in a loan — e.g. LTV ceiling, DSCR floor — that keeps a borrower in compliance.
- DSCR (Debt Service Coverage Ratio)
Net Operating Income divided by annual debt service. Can the asset pay its loan from its own cash flow? Lenders typically want 1.25–1.40x or higher.
- Senior debt
The most secured layer of the capital stack — first claim on cash flow and collateral, lowest cost, typically 50–65% of cost.
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