Derivatives · glossary
Atlas's report to the loan's Agent of its covenant figures. The Schedule makes Atlas send the bank's swap desk a copy, but only while the loan exists. When the loan was repaid, the copies stopped. FA definition: Compliance Certificate · Schedule, Part 3 · Chapter 5
Explained in Chapter 5, Representations, Undertakings and the Paper Trail, of Derivatives.
The main page for this term is Compliance Certificate, in Finance Deals & Syndicated Lending.
A Compliance Certificate is Atlas's report to the Agent of its covenant figures under the loan. The bank's credit team wants copies because it has approved a limit for a swap that runs for years. Atlas objected that the bank, as Agent, already receives them. But the Agent holds them for the lenders, under the loan's confidentiality clause, and the swap side of the bank may not read them.Read Chapter 5, Representations, Undertakings and the Paper Trail →
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