European Risk Management

Premium European Credit concepts streamline data tracking, reducing risks related to European credit agreements including financial covenants, early repayments, lender transfers, cash funding, and subsidiary restrictions

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Over 30 Key Data Points

Financial Covenant Reset Monitor the critical reset of financial covenants, ensuring timely awareness and compliance with agreement terms.	Super Senior Covenant Test Track super senior covenant tests to assess and manage risk effectively in complex credit agreements.	Ratio Test(s) \| Flatline Value Keep an eye on the flatline values of ratio tests to understand and respond to fluctuations in financial metrics.
Equity Cure Usages Monitor the usage of equity cures, which can have a significant impact on maintaining covenant compliance.	Commitment Period for Cost Savings Add-Back to EBITDA Understand the commitment period for cost savings add-back to EBITDA, aiding in more accurate financial reporting.	Carve-Outs to Borrower Consent \| Requirement for Transfers Track carve-outs related to borrower consent requirements for transfers, facilitating smooth and compliant loan transfers.
Cash Overfunding Manage cash overfunding to effectively optimize cash flow and financial stability.	Immaterial Subsidiary \| Financial Metric Restriction Monitor financial metric restrictions related to immaterial subsidiaries to ensure compliance.	Permitted Acquisition \| Due Diligence Delivery Track due diligence delivery for permitted acquisitions, ensuring timely and accurate information for informed decisions.

Exploring the Benefits of EU Risk Management

Effectively Monitor Financial Covenant Loosening Risk Maintain a vigilant and proactive approach to monitoring risks associated with potential financial covenant loosening, ensuring financial stability and compliance

	Seamlessly Analyze Super Senior Leverage Risk Gain a comprehensive understanding of super senior leverage risks, allowing for informed decisions and strategic planning among the complexity of credit agreements

Efficiently Negotiate Loan Repayment Provisions Streamline the negotiation process for loan repayment provisions, enhancing efficiency in crafting agreements that align with your financial objectives

	Easily Identify Flexibility on Lender Transfer Quickly identify and leverage flexibility in lender transfer provisions, providing the agility needed to make strategic choices related to lender transfers, while adhering to regulatory requirements to agreements

EU Risk Management Concepts

Assignments

Borrower Consent Carve-Out Related to Lender White List – Permitted

Borrower Consent Carve-Out Related to Existing Lender or its Affiliate or Related Fund – Permitted

Borrower Consent Carve-Out Related to Following Notice of Acceleration – Permitted

Borrower Consent Carve-Out Related to Non-Voting Participation – Permitted

Borrower Consent Carve-Out Trigger – Default Blocker Type
Specified Event of Default – Included Event(s)

Available Amount

Cash Overfunding – Definition Exists

Basket Increase – Cash Overfunding

EBITDA Definition

Add Backs Cost Savings – Commitment Period in Month(s)

Equity Cures

Cure Usage – Maximum Consecutive Quarters

Financial Covenants

Super Senior Covenant – Test Type

Super Senior Leverage Covenant Relative to Non-Super Senior – Cushion in Percent

Total Leverage Ratio Test – Flatline Value Until Maturity

Secured Leverage Ratio Test – Flatline Value Until Maturity

First Lien Leverage Ratio Test – Flatline Value Until Maturity

Financial Covenant Reset

Additional Debt Incurrence Threshold – Summary

Reset – Annual Usages

Reset – Lifetime Usages

Total Leverage Ratio Test – Reset Cushion in Percent

Total Leverage Ratio Test Cap – Reset Level

Super Senior Leverage Ratio Test – Reset Cushion in Percent

Super Senior Leverage Ratio Test Cap – Reset Level

Incremental Facilities

Default Blocker – Type

Specified Event of Default – Included Event(s)

Material Subsidiary Definition

Immaterial Subsidiary – Maximum EBITDA as Percentage of Group EBITDA

Immaterial Subsidiary – Maximum Assets as Percentage of Group Assets

Permitted Transactions

Due Diligence Provided on Non-Reliance Basis Transaction Threshold – Summary

Due Diligence Provided on Reliance Basis Transaction Threshold – Summary

Acquisition Target EBITDA Threshold – Summary

Repayments

Asset Sale Proceeds Sweep De Minimis Individual Basket – Summary

10% Repayment Carve-Out – Refresh Frequency

Prepayment Fee Carve-Out When Refinancing without Reducing Lender Commitment – Permitted