CovenantIQ

CovenantIQ is a web app (with optional desktop add-in) that accelerates M&A due diligence on debt documents and credit agreements. It ingests credit agreements, amendments, intercreditor agreements, and compliance certificates, then extracts covenants, baskets, permitted liens, change-of-control triggers, and reporting requirements into a standardized covenant model. The AI layer highlights “gotchas” (springing covenants, EBITDA add-back games, restricted payments leakage, MFN clauses, portability limits) and generates a diligence memo draft with citations to exact clause locations. A rules engine lets deal teams define the target capital structure and proposed transaction steps, then simulates whether the deal would breach covenants or require lender consents. It also produces a lender consent checklist and tracks open questions in a single workspace. Realistically, it won’t replace lawyers; it reduces time spent hunting clauses and reconciling versions.