There is some irony that one of the sections that have become longer in credit agreements is the section on financial covenants, considering that most loan loan agreements are now cov-lite. However, as most readers know, the capital structure often includes a revolving credit facility, including a net debt ratio test that only applies to lenders under the revolving credit facility. These include a series of complex definitions and parameters surrounding the calculations of financial definitions which, as described above, can generally be divided into languages relating to practical experience, flexibility and development of the pact and the complexity of capital structures. Comparing a credit agreement with the LMA form is perhaps a bit unfair, because while the LMA form is an extremely useful industry standard form document, the business transaction is often based on a “market” precedent that, as described above, has expanded over time to take into account both the practical realities of the creditor-debtor relationship and develop documents in new forms with functions. Additional. Ironically, a shorter lead time for transactions can lead to even longer than shorter documents, as parties tend to add additional wording (especially the excessive nature) to make a point rather than finely agree on some equivalent terms. The Queensland Supreme Court has highlighted the need for lenders to obtain the agreement of guarantors before amending the main loan agreement in a way that will affect the guarantor`s obligations. The conditions precedent of tranche 2 were not fulfilled before the expiry of the term of the loan. As a result, Westpac proposed to vary the BFA (BFA variation) under certain conditions. These include the removal of Facility 2 in the amount of $7,780,000. .