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Payout Restrictions

Payout Restrictions affect the Payout (Cashflow statement). Differences between Cashflow to Equity and Payout are absorbed in the change in liquidity (Cashflow statement ) respective in liquidity (Balance Sheet).

On the one hand the Debt Service Coverage Ratio (DSCR) has to be considered. When DSCR isn't achieved, no Payouts can be executed (so-called liquidity trap). The effect of DSCR violations can be observed from the difference between Equity IRR and Payout IRR.

On the other hand monthly effective Payouts aren't realistic. The model acts on the assumption that Payouts are only possible once per year in December.

Input FieldDescriptionUnitPresetting

Debt Service Coverage Ratio (DSCR)

Minimal rate between operative Cashflow and Debt Service. Is this rate violated no Payout can be executed.


DSCR Look Back Period

The Look Back Period contains all periods for the Debt Service (Debt Tranches) and operative Cashflow summation before the Debt Service Coverage Ratio is calculated for each period.


Payout Restriction in Redemption Free Period

Select from the Payout Restriction concerned Production Units:


All existing Production Units are concerned from the Payout Restriction.


With "Some" you can add individual Production Units to the Payout Restriction.


No Production Unit is concerned from the Payout Restriction.



Payout Restrictions affect the Payout Restriction calculation.