"Baskets" are leveraged finance jargon for certain permissions a Sponsor's borrower group has to undertake certain transactions that, because of they are viewed by lenders as "leakage" items of a more risky nature to the business, require to be capped at an agreed amount. These differ from the more generic (and uncapped) business specific or market standard accepted operational types of permissions that we often see in the bulk of the so-called "Permitted" in a loan agreement.
