coding-schemes.fpml.loan-covenant-obligation-type-1-0.xml Maven / Gradle / Ivy
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Rune Testing is a java library that is utilised by Rosetta Code Generators and models expressed in the Rosetta DSL.
<?xml version="1.0" encoding="UTF-8"?>
<gcl:CodeList xmlns:gcl="http://xml.genericode.org/2004/ns/CodeList/0.2/" xmlns:doc="http://www.fpml.org/coding-scheme/documentation" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://xml.genericode.org/2004/ns/CodeList/0.2/ CodeList.xsd">
<Annotation>
<Description>
<doc:definition>A structure used to uniquely identify a loan covenant obligation
type.</doc:definition>
<doc:publicationDate>2021-06-25</doc:publicationDate>
<doc:status>working-draft</doc:status>
</Description>
</Annotation>
<Identification>
<ShortName>loanCovenantObligationTypeScheme</ShortName>
<Version/>
<CanonicalUri>http://www.fpml.org/coding-scheme/loan-covenant-obligation-type</CanonicalUri>
<CanonicalVersionUri>http://www.fpml.org/coding-scheme/loan-covenant-obligation-type-1-0</CanonicalVersionUri>
<LocationUri>http://www.fpml.org/coding-scheme/loan-covenant-obligation-type-1-0.xml</LocationUri>
</Identification>
<ColumnSet>
<Column Id="Code" Use="required">
<ShortName>Code</ShortName>
<Data Type="token">
<Parameter ShortName="maxLength">63</Parameter>
</Data>
</Column>
<Column Id="Source" Use="optional">
<ShortName>Source</ShortName>
<Data Type="string"/>
</Column>
<Column Id="Description" Use="optional">
<ShortName>Description</ShortName>
<Data Type="string"/>
</Column>
<Key Id="PrimaryKey">
<ShortName>key</ShortName>
<ColumnRef Ref="Code"/>
</Key>
</ColumnSet>
<SimpleCodeList>
<Row>
<Value>
<SimpleValue>AffiliateTransactions</SimpleValue>
</Value>
<Value>
<SimpleValue>FpML</SimpleValue>
</Value>
<Value>
<SimpleValue>Restricts dealings between the borrower and its affiliates.</SimpleValue>
</Value>
</Row>
<Row>
<Value>
<SimpleValue>AmendmentsToOrganicDocumentsAndOtherAgreements</SimpleValue>
</Value>
<Value>
<SimpleValue>FpML</SimpleValue>
</Value>
<Value>
<SimpleValue>Restricts changes to other legal documents that might adversely affect
the credit agreement without consent of the administrative agent and
lenders.</SimpleValue>
</Value>
</Row>
<Row>
<Value>
<SimpleValue>AnnualFinancialStatements</SimpleValue>
</Value>
<Value>
<SimpleValue>FpML</SimpleValue>
</Value>
<Value>
<SimpleValue>An obligation to provide the administrative agent with audited financial
statements within a certain number of days of fiscal year-end.</SimpleValue>
</Value>
</Row>
<Row>
<Value>
<SimpleValue>BooksAndRecords</SimpleValue>
</Value>
<Value>
<SimpleValue>FpML</SimpleValue>
</Value>
<Value>
<SimpleValue>An obligation of the borrower to keep proper books and
records.</SimpleValue>
</Value>
</Row>
<Row>
<Value>
<SimpleValue>BurdensomeAgreements</SimpleValue>
</Value>
<Value>
<SimpleValue>FpML</SimpleValue>
</Value>
<Value>
<SimpleValue>Limits on the ability of a borrower to enter into negative pledges with
third parties.</SimpleValue>
</Value>
</Row>
<Row>
<Value>
<SimpleValue>CatchallProvisions</SimpleValue>
</Value>
<Value>
<SimpleValue>FpML</SimpleValue>
</Value>
<Value>
<SimpleValue>An obligation to furnish the administrative agent and each lender
documents filed with the SEC, as well as any other information upon request by
the administrative agent or lenders.</SimpleValue>
</Value>
</Row>
<Row>
<Value>
<SimpleValue>ComplianceCertificates</SimpleValue>
</Value>
<Value>
<SimpleValue>FpML</SimpleValue>
</Value>
<Value>
<SimpleValue>An obligation of the borrower to certify to administrative agent and each
lender that they have complied with the covenants. A representation of
calcultions supporting the certification and affirmation by a Financial Officer
must be included.</SimpleValue>
</Value>
</Row>
<Row>
<Value>
<SimpleValue>ComplianceWithLaw</SimpleValue>
</Value>
<Value>
<SimpleValue>FpML</SimpleValue>
</Value>
<Value>
<SimpleValue>An obligation of the borrower to comply with applicable laws. There may
be special mention of sanctions and anti-corruption laws.</SimpleValue>
</Value>
</Row>
<Row>
<Value>
<SimpleValue>Debt</SimpleValue>
</Value>
<Value>
<SimpleValue>FpML</SimpleValue>
</Value>
<Value>
<SimpleValue>Limits the amount of additional debt the borrower may incur. There are
several debt types that may be routinely allowed.</SimpleValue>
</Value>
</Row>
<Row>
<Value>
<SimpleValue>Delivery</SimpleValue>
</Value>
<Value>
<SimpleValue>FpML</SimpleValue>
</Value>
<Value>
<SimpleValue>Specification as to how documents and reports are to be delivered (direct
mail, doc upload to a hosting site, etc.).</SimpleValue>
</Value>
</Row>
<Row>
<Value>
<SimpleValue>Derivatives</SimpleValue>
</Value>
<Value>
<SimpleValue>FpML</SimpleValue>
</Value>
<Value>
<SimpleValue>Prohibits speculative derivative trading. Some types of derivative
hedging are often allowed.</SimpleValue>
</Value>
</Row>
<Row>
<Value>
<SimpleValue>DisqualifiedStock</SimpleValue>
</Value>
<Value>
<SimpleValue>FpML</SimpleValue>
</Value>
<Value>
<SimpleValue>A prohibition on the borrower from issuing certain types of stock that
contain debt-like provisions.</SimpleValue>
</Value>
</Row>
<Row>
<Value>
<SimpleValue>DividendsAndEquityRepurchases</SimpleValue>
</Value>
<Value>
<SimpleValue>FpML</SimpleValue>
</Value>
<Value>
<SimpleValue>Places limits on or precludes dividend payments and stock buybacks. There
may be permitted types of dividend payments.</SimpleValue>
</Value>
</Row>
<Row>
<Value>
<SimpleValue>EqualAndRatableSharing</SimpleValue>
</Value>
<Value>
<SimpleValue>FpML</SimpleValue>
</Value>
<Value>
<SimpleValue>If liens are granted by the borrower to a third party, the lenders must
be equally and ratably secured.</SimpleValue>
</Value>
</Row>
<Row>
<Value>
<SimpleValue>ExistenceAndFranchises</SimpleValue>
</Value>
<Value>
<SimpleValue>FpML</SimpleValue>
</Value>
<Value>
<SimpleValue>An obligation of the borrower to try to keep itself in business with
exceptions for approved mergers and liquidations.</SimpleValue>
</Value>
</Row>
<Row>
<Value>
<SimpleValue>FinancialRatio</SimpleValue>
</Value>
<Value>
<SimpleValue>FpML</SimpleValue>
</Value>
<Value>
<SimpleValue>Indicates that the covenant obligation is related to maintenance of a
financial ratio.</SimpleValue>
</Value>
</Row>
<Row>
<Value>
<SimpleValue>FinancialValue</SimpleValue>
</Value>
<Value>
<SimpleValue>FpML</SimpleValue>
</Value>
<Value>
<SimpleValue>Indicates that the covenant obligation is related to maintenance of a
financial value.</SimpleValue>
</Value>
</Row>
<Row>
<Value>
<SimpleValue>FiscalPeriodsAndAccountingChanges</SimpleValue>
</Value>
<Value>
<SimpleValue>FpML</SimpleValue>
</Value>
<Value>
<SimpleValue>Prohibits the borrower from changing accounting treatment and/or last
days of fiscal year and quarters.</SimpleValue>
</Value>
</Row>
<Row>
<Value>
<SimpleValue>FundamentalChangesAssetSalesAndAcquisitions</SimpleValue>
</Value>
<Value>
<SimpleValue>FpML</SimpleValue>
</Value>
<Value>
<SimpleValue>A restriction on transactions that would fundamentally change the nature
of the borrower’s business.</SimpleValue>
</Value>
</Row>
<Row>
<Value>
<SimpleValue>FurtherAssurances</SimpleValue>
</Value>
<Value>
<SimpleValue>FpML</SimpleValue>
</Value>
<Value>
<SimpleValue>Specifies actions the borrower must take to ensure lenders maintain a
good lien on collateral.</SimpleValue>
</Value>
</Row>
<Row>
<Value>
<SimpleValue>GovernmentApprovals</SimpleValue>
</Value>
<Value>
<SimpleValue>FpML</SimpleValue>
</Value>
<Value>
<SimpleValue>An obligation of the borrower to maintain approvals, licenses,
authorizations, etc., required by any governmental agency necessary under the
laws of the borrower’s country pertaining to the credit agreement.</SimpleValue>
</Value>
</Row>
<Row>
<Value>
<SimpleValue>GuaranteesOrContingentLiabilities</SimpleValue>
</Value>
<Value>
<SimpleValue>FpML</SimpleValue>
</Value>
<Value>
<SimpleValue>Places limits on or precludes the borrower and subsidiaries from
guaranteeing other debt.</SimpleValue>
</Value>
</Row>
<Row>
<Value>
<SimpleValue>InspectionRights</SimpleValue>
</Value>
<Value>
<SimpleValue>FpML</SimpleValue>
</Value>
<Value>
<SimpleValue>An obligation of the borrower to allow representatives of the
administrative agent and lenders to inspect its properties upon reasonable prior
notice.</SimpleValue>
</Value>
</Row>
<Row>
<Value>
<SimpleValue>Insurance</SimpleValue>
</Value>
<Value>
<SimpleValue>FpML</SimpleValue>
</Value>
<Value>
<SimpleValue>Specifies certain types of insurance and coverage levels that the
borrower is obligated to carry.</SimpleValue>
</Value>
</Row>
<Row>
<Value>
<SimpleValue>InterestRateProtection</SimpleValue>
</Value>
<Value>
<SimpleValue>FpML</SimpleValue>
</Value>
<Value>
<SimpleValue>An obligation of the borrower to purchase interest rate protection for a
specified term and amount.</SimpleValue>
</Value>
</Row>
<Row>
<Value>
<SimpleValue>Investments</SimpleValue>
</Value>
<Value>
<SimpleValue>FpML</SimpleValue>
</Value>
<Value>
<SimpleValue>Prohibits most additional investments by the borrower, with some
permitted investment types and allowed investment amounts.</SimpleValue>
</Value>
</Row>
<Row>
<Value>
<SimpleValue>LienCovenant</SimpleValue>
</Value>
<Value>
<SimpleValue>FpML</SimpleValue>
</Value>
<Value>
<SimpleValue>An obligation to prohibits additional liens against the borrower’s
assets. Often there are permitted lien types specified. Examples of permitted
liens include (a) additional liens favorable to existing lenders, (b)
grandfathered liens, (c) permitted encumbrances, (d)purchase money liens (covers
property that secures financing for purchase), construction or improvement of
property, (e) acquisition liens, (f) secured debt liens, (g)non-guarantor liens,
(h) general lien basket (i.e. additional non-specified liens permitted up to a
certain amount).</SimpleValue>
</Value>
</Row>
<Row>
<Value>
<SimpleValue>LinesOfBusiness</SimpleValue>
</Value>
<Value>
<SimpleValue>FpML</SimpleValue>
</Value>
<Value>
<SimpleValue>Prohibits the borrower from expanding to other business
lines.</SimpleValue>
</Value>
</Row>
<Row>
<Value>
<SimpleValue>ModificationAndPrepaymentOfOtherDebt</SimpleValue>
</Value>
<Value>
<SimpleValue>FpML</SimpleValue>
</Value>
<Value>
<SimpleValue>A requirement that the borrower not modify or restructure other debt
outside the credit agreement without the consent of the administrative agent and
lenders.</SimpleValue>
</Value>
</Row>
<Row>
<Value>
<SimpleValue>NoticesOfMaterialEvents</SimpleValue>
</Value>
<Value>
<SimpleValue>FpML</SimpleValue>
</Value>
<Value>
<SimpleValue>An obligation to notify administrative agent and each lender promptly of
a material event that occurs. Examples of material events include, (a) Default,
(b) legal action that could result in liability exceeding a certain amount, (c)
ERISA events that could result in liability exceeding a certain amount, and (c)
environment claims that could result in liability exceeding a certain
amount.</SimpleValue>
</Value>
</Row>
<Row>
<Value>
<SimpleValue>PariPassuRanking</SimpleValue>
</Value>
<Value>
<SimpleValue>FpML</SimpleValue>
</Value>
<Value>
<SimpleValue>An obligation of the borrower to ensure payment obligations are pari
passu with other debt obligations.</SimpleValue>
</Value>
</Row>
<Row>
<Value>
<SimpleValue>PassiveHoldingCompany</SimpleValue>
</Value>
<Value>
<SimpleValue>FpML</SimpleValue>
</Value>
<Value>
<SimpleValue>Limits how the borrower can organize under a holding company for purposes
of the credit agreement.</SimpleValue>
</Value>
</Row>
<Row>
<Value>
<SimpleValue>PaymentOfTaxesAndOtherObligations</SimpleValue>
</Value>
<Value>
<SimpleValue>FpML</SimpleValue>
</Value>
<Value>
<SimpleValue>An obligation of the borrower to pay taxes and meet other financial
obligations.</SimpleValue>
</Value>
</Row>
<Row>
<Value>
<SimpleValue>Properties</SimpleValue>
</Value>
<Value>
<SimpleValue>FpML</SimpleValue>
</Value>
<Value>
<SimpleValue>An obligation of the borrower to keep properties maintained and in good
order.</SimpleValue>
</Value>
</Row>
<Row>
<Value>
<SimpleValue>QuarterlyFinancialStatements</SimpleValue>
</Value>
<Value>
<SimpleValue>FpML</SimpleValue>
</Value>
<Value>
<SimpleValue>An obligation to provide the administrative agent with financial
statements (interim or audited) within a certain number of days of fiscal
quarter-end.</SimpleValue>
</Value>
</Row>
<Row>
<Value>
<SimpleValue>RestrictionsOnSubsidiaryDistributions</SimpleValue>
</Value>
<Value>
<SimpleValue>FpML</SimpleValue>
</Value>
<Value>
<SimpleValue>Prohibits the borrower from agreeing with other third parties that
dividends and distributions by subsidiaries to the borrower are constrained.
There may be permitted exceptions.</SimpleValue>
</Value>
</Row>
<Row>
<Value>
<SimpleValue>SaleLeasebacks</SimpleValue>
</Value>
<Value>
<SimpleValue>FpML</SimpleValue>
</Value>
<Value>
<SimpleValue>Limits the ability of the borrower to sell an asset and then immediately
lease it back from the buyer.</SimpleValue>
</Value>
</Row>
<Row>
<Value>
<SimpleValue>SubstantiveConsolidation</SimpleValue>
</Value>
<Value>
<SimpleValue>FpML</SimpleValue>
</Value>
<Value>
<SimpleValue>An obligation of the borrower and subsidiaries to maintain a separate and
distinct existence from a parent entity to avoid substantive consolidation under
bankruptcy.</SimpleValue>
</Value>
</Row>
<Row>
<Value>
<SimpleValue>TaxSharingPaymentsAndPermittedTaxDistributions</SimpleValue>
</Value>
<Value>
<SimpleValue>FpML</SimpleValue>
</Value>
<Value>
<SimpleValue>Places restrictions on the amount of tax funneled upstream to the parent
in tax-sharing plans under Section 1504 of the IRS tax code.</SimpleValue>
</Value>
</Row>
<Row>
<Value>
<SimpleValue>UseOfProceeds</SimpleValue>
</Value>
<Value>
<SimpleValue>FpML</SimpleValue>
</Value>
<Value>
<SimpleValue>Specifies what the loan monies can and cannot be used for.</SimpleValue>
</Value>
</Row>
</SimpleCodeList>
</gcl:CodeList>