The credit agreement read into a set of definitions: what counts as debt, what can be added back, when to test, what the limit is. Each one links to its clause.
Clause by clause
Every definition opens its clause.
Open a definition and the agreement opens beside it with the wording highlighted. The reader’s recipe is written out in plain words, and a person confirms it.
Amendments
An amendment is a new version. The old one is kept.
When the limit steps down or a term changes, the new version starts on its date. Each quarter is tested on the version in force that day, and the page says which.
Bring one borrower’s last package.
Send us the financial package from one borrower and the covenants that apply to it. We will show you the tests run on your definitions, each figure open to its page.