A first loss tranche is the sum of all tranches up to an attachment point. For example, 0-6%, the sum of the 0-3% tranche and the 3-6% tranche, is a first loss tranche.
The backlog of orders became a nightmare as Boeing missed commitments to customers, and the company lost $178 million in 1997, its first annual loss in 50 years.
This phrase refers to the order in which creditors get paid off in the event that a debtor defaults on a loan. The first loss payee would priority over other creditors, and be paid off first.
I wouldn't consider your first kiss a loss of innocence, in many ways it makes you grow up (if your first kiss was with a guy you truly care about). Loss of innocence is when you lose your virginity....
An owner may insure on a First Loss basis. This approach means taking the view that any loss or damage is unlikely to affect all the works of art in a collection, and so the owner agrees a limit to...