Facility renewals
Revolving facility documentation check
A focused pass over borrowing-base certificates, covenant worksheets, and renewal packs for revolving facilities.
Why renewals still need a fresh eye
Renewal packs often reuse last year’s workbook with updated month-end figures pasted in. Formula drift, ineligible receivables still in the base, and covenant definitions that changed in a side letter are the usual catches.
Included
- Borrowing-base arithmetic against the definitions in the term sheet excerpt
- Spot checks of aging buckets versus the receivables listing
- Covenant worksheet formulas against the written definitions
- A short list of questions a credit officer is likely to raise
Limits
We do not revalue inventory or contact customers to confirm receivables. Legal interpretation of ambiguous clause language is referred back to your counsel.