> ## Documentation Index
> Fetch the complete documentation index at: https://docs.finpace.tech/llms.txt
> Use this file to discover all available pages before exploring further.

# Collateral, covenants, and conditions

> Collateral records, covenant monitoring, conditions precedent, and waiver control.

# Collateral, covenants, and conditions

## Collateral model

Collateral is represented separately from the facility and supports:

* linkage to one or more facilities
* valuation history
* owner and guarantor linkage
* legal perfection tracking
* insurance evidence
* impairment, substitution, and release status
* document evidence

## Covenant model

A covenant record defines:

* covenant type
* measurement frequency
* threshold
* data source
* test logic
* grace period
* breach action
* waiver authority

## Conditions precedent and drawdown checks

The platform supports controlled checklists before initial or subsequent drawdown:

* legal documents complete
* collateral perfected
* insurance evidence present
* approvals complete
* customer representations confirmed
* covenant setup complete

## Monitoring patterns

* scheduled review
* event-driven review
* manual breach logging
* remediation plan tracking
* waiver approvals
* collateral revaluation triggers