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0 tracked cards Supplemental - Not MEE July 2026

A borrower is current on monthly payments but fails to provide required quarterly financial statements and falls below a borrowing-base covenant. The loan agreement defines each breach as an event of default after notice and cure.
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The secured party must ignore all financial-reporting covenants until the final payment date. A financial-reporting or borrowing-base covenant can be a default trigger if the agreement makes it one, even when scheduled payments are current. Financial-reporting covenants are enforceable only by unsecured creditors. The debtor can cure a reporting default only by surrendering all collateral.

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