Ridgeline Provisions LLC
Covenants

5 covenants · FCCR binds first
1 breach · 1 at risk As of Jul 22, 2026
FCCR binds first — 0.96× against a 1.10× floor; every other covenant clears this quarter.

Compliance grid

Covenant
Freq
Required
Current
Headroom
Trend
Status
▾ FCCR
Qtly
≥ 1.10× LSA
0.96× AI
Breach
History
FY26 Q20.96× AI
FY26 Q11.14× CV
FY25 Q41.21× CV
Deterministic test lane
No deterministic runs
No producer exists yet.
Next scheduled test: Oct 15, 2026
▸ Minimum liquidity
Mthly
≥ $500,000 LSA
$592,400 AI
At risk
▸ Max leverage
Qtly
≤ 3.50× LSA
2.84× CV
Compliant
▸ Debt service coverage
Qtly
≥ 1.20× LSA
1.08× CV
Waived · exp Sep 30WVR
▸ Max dilution
Mthly
≤ 5.0% LSA
3.1%
Compliant
▸ Reporting timeliness
Mthly
≤ 15d after close LSA
—
Overdue 6d

Covenant health review

quarterly · last Jun 30
Coverage vs six expected ABL covenants5 of 6
Missing: springing DSCRrunbook drafted
Limit effectivenessFCCR binds first

Waiver in progress

drafted Jul 22
FCCR waiver memo — shortfall 0.14×, recommended conditions: weekly cash reporting through Q3.
Projections — judgment sandbox
Sourced baselines stay solid; everything you assume is a dashed derived chip. Nothing here is committed.
Assumptions ≠ certified
Scenario inputs
Revenue decline−20%
Assumption
Advance-rate haircut−5pp
Assumption
New draw$500K
Assumption
Sourced baseline
Net eligible AR$11.39M AR
EBITDA (TTM)$8.4M FS
Fixed charges$6.8M FS
Live impactBaseAB
Covenant
Base
Scenario A
Scenario B
To breach
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Judgment, not a number. Under Scenario B, FCCR and minimum liquidity breach immediately and availability falls to $1.1M — every projected value on this panel is an assumption, derived from the sourced baselines at left, and is never written back to the certificate.
Read-only · projections never post to the ledger or the BBC