I have an existing loan or am reviewing proposed loan terms and want to understand the covenant risks before I sign or renew. [Paste or describe: the key financial covenants (minimum EBITDA, debt/EBITDA ratio, current ratio, fixed charge coverage, etc.), your current financial metrics against each covenant, and the penalty or trigger if a covenant is breached.] Analyze my covenant position: 1. Headroom analysis -- for each covenant, how much cushion do I have between current performance and the breach threshold? 2. Stress scenarios -- at what revenue decline or EBITDA compression would each covenant be at risk? 3. Covenant trap analysis -- are there covenants that could be triggered by otherwise positive events (e.g., an acquisition, a capital lease, a dividend to the owner)? 4. Early warning indicators -- what internal metrics should I track monthly to get 60-90 days of warning before a potential breach? 5. Negotiation priorities -- if I were renegotiating this facility today, which covenants would I push back on and why? Flag any covenant where a single bad quarter could trigger a breach without early warning signs.