Investments template

Covenant monitor

Agents read each credit agreement and test its covenants against the latest financials. Your team sees the headroom, the breaches and the working behind every result.

Contact salesAll apps

One test, end to end

The number means nothing without the definition.

The agents read the agreement first. They pull out the test date, threshold and defined terms, then use those terms to check the reporting package.

Morrow Packaging · credit agreement

Total net leverage ratio

§ 7.11(a) · p. 86

“The Borrower shall not permit the Total Net Leverage Ratio as of the last day of any fiscal quarter to exceed 4.50 to 1.00.”

Test frequencyQuarterly
Defined termsDebt & EBITDA · § 1.01

Your analyst can follow the inputs back to their pages, check the working and decide what happens next.

Morrow Packaging · quarter ended 30 Sep 2026

From financials to covenant test

Total debt less permitted cashQ3 certificate · p. 3$72.0M
LTM adjusted EBITDAQ3 certificate · p. 5$15.0M
Total net leverage$72.0M ÷ $15.0M4.80x
0.30x above the 4.50x maximum

The app

See how much room each borrower has.

A portfolio view puts the test result beside its limit. Open the working, review the breach and prepare the waiver request from the same place.

Covenant monitorQ3 2026SearchAsk

Quarterly covenant tests

24 borrowers · 23 reporting packages received · 1 breach

Export tests
Morrow PackagingBreach
Total net leverage · maximum 4.5x
4.8x0.3x above limit
$72.0M debt / $15.0M EBITDACertificate · p. 5
Relationship manager · Avery Chen
Alder Field ServicesWithin limit
Total net leverage · maximum 4.5x
4.1x0.4x headroom
$61.5M debt / $15.0M EBITDACertificate · p. 5
Relationship manager · Morgan Ellis
Westmere ComponentsWithin limit
Total net leverage · maximum 4.0x
3.2x0.8x headroom
$38.4M debt / $12.0M EBITDACertificate · p. 5
Relationship manager · Avery Chen
Cedarline LogisticsWithin limit
Total net leverage · maximum 4.0x
2.7x1.3x headroom
$32.4M debt / $12.0M EBITDACertificate · p. 5
Relationship manager · Sam Rowan
Morrow Packaging needs reviewAvery Chen notified · definition and calculation attachedOpen waiver request

Illustrative app. All companies, people and figures are sample data.

What it reads

  • Credit agreements and amendments
  • Quarterly financial statements
  • Compliance certificates
  • Your borrower reporting folders

What your team sees

  • Test results and headroom by borrower
  • The definition behind each test
  • Inputs cited to the reporting package
  • Breaches and their relationship managers

What you set

  • Which borrowers and tests to monitor
  • The reporting schedule
  • Who reviews each result
  • Where breach alerts go

Questions

What people ask about covenant monitor.

Can an analyst check where a result came from?

Yes. Extracted values are cited to their pages, and a review queue can show each value beside the passage it came from so a person can approve or edit it.

Can you set up the monitor for our team?

Yes. We can map your process, build the workflows and the app, and hand your team something ready to use. Your team can change it later or ask us to.

Can we change the app by asking?

Yes. Tell the Assistant what you want to change. It reads your connections and builds or changes workflows and apps, with every change shown for your approval.

Are our agreements and financials used to train models?

No. Your documents and results are never used to train a model, and a data processing addendum backs that.

Can it run in our own cloud?

Yes. Strive runs in our cloud, or in your own VPC on AWS, Google Cloud or Oracle Cloud, or on your own Kubernetes cluster.

Which document-heavy job would you hand over first?

Bring one process you want to improve and the information behind it. We build the first version with you in the session, so the first thing you see is your own work, running.

Contact Sales

An hour of your time and a process you know well. That's all it takes.