basket
USA
This term has a number of meanings. In the context of:
• Finance, business jargon used to refer to a maximum dollar amount for a specific exception to a covenant restriction in a financing agreement. For example, a loan agreement may limit the borrower's ability to incur debt but permit it to incur up to $5 million in letters of credit. The $5 million is referred to as a debt "basket".
• Mergers and acquisitions, an indemnification concept limiting a party's obligation with respect to small claims. A basket provides that an indemnifying party does not have an obligation to indemnify until the amount of the indemnified party's losses exceed a certain agreed amount. Baskets can be structured in two different ways. They can be structured as a threshold so that once the agreed amount is reached, the indemnifying party is liable for the total amount of losses (sometimes referred to as a "tipping" or "dollar one" basket). Alternatively, they can be structured as a deductible so that once the agreed amount is reached, the indemnifying party is only liable for the amount of losses in excess of the agreed amount (sometimes referred to as an "excess liability" basket).

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

Look at other dictionaries:

  • Basket — Bas ket, n. [Of unknown origin. The modern Celtic words seem to be from the English.] 1. A vessel made of osiers or other twigs, cane, rushes, splints, or other flexible material, interwoven. Rude baskets . . . woven of the flexile willow. Dyer.… …   The Collaborative International Dictionary of English

  • Basket — steht für Basket (Zeitschrift), Sportzeitschrift Fruits Basket, Manga Siehe auch Basket Lake Baskett Diese Seite ist eine Begriffsklärung z …   Deutsch Wikipedia

  • basket — /ˈbasket, ingl. ˈbɑːskɪt/ s. m. inv. (sport) accorc. di basket ball; pallacanestro □ canestro …   Sinonimi e Contrari. Terza edizione

  • basket — [bas′kit, bäs′kit] n. [ME < ?] 1. a container made of interwoven cane, rushes, strips of wood, etc. and often having a handle or handles 2. the amount that a basket will hold 3. anything like a basket in shape or use 4. the structure hung from …   English World dictionary

  • Basket — Bas ket, v. t. To put into a basket. [R.] [1913 Webster] …   The Collaborative International Dictionary of English

  • Basket 1 — est une émission de télévision sportive diffusée en Belgique sur la Une (RTBF). Présentée par Frank Peterkenne et Pierre Robert, elle présente en quinze minutes les plus beaux moments du match de la soirée. Lien externe (fr) La page d émission de …   Wikipédia en Français

  • basket — (n.) early 13c., from Anglo Fr. bascat, origin obscure despite much speculation. On one theory from L. bascauda kettle, table vessel, said by the Roman poet Martial to be from Celtic British and perhaps cognate with L. fascis bundle, faggot, in… …   Etymology dictionary

  • basket — (del inglés) sustantivo masculino 1. (no contable) Área: deporte Uso/registro: restringido en España. Origen: América. Baloncesto: jugar al basket …   Diccionario Salamanca de la Lengua Española

  • basket — ► NOUN 1) a container for holding or carrying things, made from interwoven strips of cane or wire. 2) Basketball a net fixed on a hoop, used as the goal. 3) a group, category, or range: a basket of currencies. ORIGIN Old French …   English terms dictionary

  • Basket — (engl., »Korb«), Reismaß in Niederbirma, seit 1872 = 38,836 Lit., für ungeschälten Reis 51–52, für Kargoreis mit noch 1/5 Paddy (ungeschältem) 68 Pfd. = 30,84 kg …   Meyers Großes Konversations-Lexikon

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