- Attributable Cash EBITDA
Means our Cash EBITDA for a given period after subtracting distributions to coinvestors for their participation in our consolidated SPVs.
- Attributable ERC
Refers to Gross ERC after taking into account the pro rata share of such collections that will be attributable to co-investors pursuant to contractual arrangements with such co-investors in SPVs.
- Cash EBITDA
Means our total Cash Revenue for the period, after subtracting professional fees and services, personnel costs and committed costs.
- Cash Revenue
Means our Gross Collections for a period after adding the revenue generated from our third-party servicing business.
- CIF servicing agreement
In April 2017, we began providing servicing for a large portfolio of performing loans originated by Crédit Immobilier de France Développement (“CIF”), a leader in French non-conforming/subprime mortgage lending. CIF has agreed to entrust us with the servicing of its loan portfolio for a 17 year term, with a step-up in the amount of loans serviced until 2021, provided that we meet contractual service-level commitments with respect to the servicing of this initial portion of the portfolio.
Means MCS et Associés SAS, a French société par actions simplifiée having its registered office at 256 bis, rue des Pyrénées, 75020 Paris, France and registered in France under sole identification number 334 537 206. R.C.S. Paris.
- Convertible Bonds
Means the convertible bonds issued by the Parent and subscribed by Promontoria Holding 85 B.V.
Means fonds commun de titrisation, which are investment funds contractually organized under French law for the purposes of holding debt portfolios.
- Group, MCS, we, our and us
Collectively, the Parent and its direct and indirect subsidiaries including the SPVs that are consolidated into the Parent’s consolidated financial statements.
- Gross Collections
Refer to the cash proceeds received from the debtors related to the debt portfolios that the Group or its SPVs purchased, before allocation of the pro rata share of Gross Collections attributable to co-investors (if any). Gross Collections are presented prior to factoring any legal fees or other collection activity costs.
- Gross ERC
Refers to our estimated remaining collections on our purchased debt portfolios, which represents the expected gross cash proceeds over, as applicable, an 84- or 120-month period from our purchased debt portfolios, assuming no additional purchases are made and on an undiscounted basis before taking into account the pro rata share of such collections that will be attributable to co-investors.
Means Promontoria MCS SAS, a French société par actions simplifiée à associé unique having its registered office at 256 bis, rue des Pyrénées 75020 Paris, France and registered in France under sole identification number 802 951 848 R.C.S. Paris.
Means Promontoria MCS Holding SAS, a French société par actions simplifiée having its registered office at 256 bis, rue des Pyrénées 75020 Paris, France and registered in France under sole identification number 802 992 602 R.C.S. Paris, which directly owns 100% of the share capital of the Issue.
Means special purpose vehicle, and as used herein shall include FCTs.