Just took anmodeling exam for an interview and had a question. Part of the financing was a seller's note at 0.5x leverage (in addition to a revolver and term loan). I was fine with setting up the sources and uses, but was not sure how the seller's note gets treated in the debt calcs and .
The exam said that the seller's note gets paid out only ifreaches a certain level. Does it get included in net debt that gets subtracted out to reach in the exit year? Or if it gets paid out then what happens? Thanks.
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