• Information covenants – typical set of information that each Bank needs to obtain in order to perform update of Client rating and complete the financial assessment within the annual review. Such documents may contain audited results, consolidated figures, interim figures, presentation of Compliance certificate, confirmation from state/Tax authorities on no overdue payments
• General covenants –  usually stipulated covenants like MAC, MOC, PP, Negative pledge, Merger/De-merger, Acquisitions, Additional Indebtedness etc. are herewith concluded with client.
• Financial covenants – depending on the type of lending product, complexity of the deal structure and inherent risk, various ratios may be implemented to be respected by the Borrower. Most common include Solvency resp. Tangible Net Worth ratio, Leverage and Gearing ratio, DSCR, ISCR, Liquidity ratio and many others.

Each breach of any covenant automatically means Event of default (EoD) and most usual way how to communicate this to the Bank is to deliver an Waiver request, so that Bank confirms continuation of the credit contract and no acceleration of the loans drawn under the contract