Covenant cure & default playbook

You tripped a debt covenant — now what? From a leverage or interest-coverage breach and the credit agreement's cure terms, size the equity cure and the debt-paydown alternative.

RBL Treasury And Structured Capital · Structuring · v1

Quality-uplift proof

Quality lift unmeasured

Registry maturity does not prove response or artifact quality. No qualifying same-model skill-on versus no-skill improvement has been verified.

Required comparison: same model with this skill enabled versus the same model without the skill.

Inputs and output

Required inputs

Breach Date Iso
Cash Interest
Covenant Certificate
Covenant Evidence Review
Credit Agreement
Deal ID
Ebitda
Financial Statements
Source Documents
Source Spans
Total Debt

Optional inputs

Amendments
Basin
Cash
Covenant Markdown
Cure History
Deal Name
Lender Correspondence
Max Leverage
Min Interest Coverage
Notable Risks
Terms

Required source documents

Covenant Certificate
Credit Agreement
Financial Statements

Expected outputs

An Owner Restricted Capability

Buyer-profile access

Policy visibility is not execution proof. Authentication is checked before a run.

Owner or operator access required

Read-only connection

The declared execution path is not available under this buyer profile.

Owner or operator capability required

Owner or operator access required

Partner workspace

The declared execution path is not available under this buyer profile.

Owner or operator capability required

Approval and blocking gates

Review approval is required before consequential use.

Declared; runtime enforcement pending

This gate is declared but not yet bound to an executable runtime check. Treat it as uncleared.

Blocks: artifact export, external release

Declared; runtime enforcement pending

This gate is declared but not yet bound to an executable runtime check. Treat it as uncleared.

Blocks: external release

Abstentions and limits

Abstention conditions

Covenant Markdown is missing or unverified: CRUX abstains until the required evidence is supplied and validated.
Cash, Max Leverage, Min Interest Coverage, Terms are missing or unverified: CRUX abstains until the required evidence is supplied and validated.

Known limitations

Preview capability: useful but incomplete eval or SME coverage; human review required.
Do not use for routine borrowing-base sizing or redetermination, payment defaults, cross-defaults, minimum-liquidity/FCCR covenants, legal notice, waiver drafting, lender communication, or a legal conclusion that a Default/Event of Default exists or has been cured.

Relationships

Outcome agents

structured-capital

Workflow-registry jobs

No workflow relationship is declared.

Use this skill

Authentication and the required buyer profile are checked before any work runs.