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Partners may have moderate to substantial equities in each.
If the owners of the business really controlled such a company, they could draw out not only the fifteen million in cash but another five million from bank loans, and still have a business in sound condition with substantial equities.
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The developer would also be required to make a substantial equity investment.
In 2007, when I had the house appraised, we celebrated at having built substantial equity.
Consumers with substantial equity, high credit scores and documented income should be able to find conventional refinancing, he said.
The financing plan, with its favorable terms, is available to clients who have built up substantial equity in a home.
Those who get the cash must be at least 62 and have substantial equity in their houses.
However, if you have a low-interest, tracker-style mortgage and substantial equity in your home it might be worth borrowing more against your home.
The company, based in New York, will reduce debt by $480 million as bondholders will exchange $600 million for $120 million in secured notes and a "substantial" equity position.
Mr. Bennett would not say how much he is being paid to head the company, but he has a substantial equity stake.
"I'm not comfortable with scientists' owning substantial equity in small firms that are sponsoring their clinical research," Dr. Blumenthal said.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com