Covenant Monitor
Deterministic calculations shown separately from LLM interpretation. Interpretations always require human review.
Minimum Liquidity / Runway
Agreement defines runway as "trailing operating expenses" without specifying a lookback window. Interpreted as trailing 3-month average per market convention.
ARR Growth Floor
No interpretive judgment required — covenant language is unambiguous.
Net Burn Multiple Cap
Definition of "Net New ARR" is ambiguous re: treatment of one-time services revenue. Interpreted to exclude professional services per SaaS metric standards (Bessemer). Human review recommended.
Net Revenue Retention Floor
No interpretive judgment required — covenant language is unambiguous.
"Interpreted" values reflect LLM judgment applied to ambiguous covenant language. They are shown separately from deterministic calculations and must be reviewed by a credit officer before relying on them in any decision.