2
PLAYBOOK TEMPLATES
Underwriting Agreement
An Underwriting Agreement governs the sale of securities by underwriters on behalf of an issuer. This playbook provides insights on indemnification, representations, and allocation of liability among underwriters.
Covenants
Negotiation strategy
Ensure covenants are clear and enforceable, providing necessary controls without stifling the Borrower's operations. Consider including cure periods to manage potential breaches.
Negotiate for covenants that allow operational flexibility while meeting the Lender's requirements. Advocate for reasonable thresholds and cure periods to mitigate risk of default.
Essential elements
1
Affirmative Covenants
Obligations the Borrower must fulfill.
2
Negative Covenants
Restrictions on Borrower's actions.
3
Cure Periods
Time to rectify covenant breaches.
Action framework
ACCEPT
Propose edits when covenants are too restrictive or lack clarity. Adjust thresholds and cure periods to align with the transaction's risk profile.
EDIT
Reject covenants that impose unreasonable restrictions or do not align with the business strategy.
ADD
Add covenants to ensure necessary controls and protections are in place, especially if missing from the agreement.
PRO TIP
Always align covenants with the client's risk tolerance and business strategy to ensure they are both protective and flexible.
Real-world examples
FAVORABLE
Preferred Minimum Current Ratio
"The Borrower shall maintain a minimum current ratio of 1.5:1 at all times."
NEUTRAL
Fallback Minimum Current Ratio
"The Borrower shall maintain a minimum current ratio of 1.2:1, with a 30-day cure period for any breach."
UNFAVORABLE
Overly Restrictive Financial Covenant
"The Borrower must maintain a minimum current ratio of 2.0:1 at all times, with no cure period."
Alternative scenarios & positions
High-Risk Projects
In high-risk projects, covenants may need to be more stringent to protect the Lender's interests, but should still allow for operational flexibility.
Industry-Specific Covenants
Tailor covenants to reflect industry norms and regulatory requirements, ensuring compliance and relevance.
Multi-Jurisdictional Agreements
Adjust covenants to account for varying legal standards and operational practices across different jurisdictions.
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Unlike complex CLMs with long implementations and steep learning curves, DocJuris is built for speed and simplicity. We integrate with your workflow—whether connecting to a CLM or uploading agreements manually—so you're up and running in days, not months.
WEEK 1
CLM Readiness and Design
Our CX team works with you to understand your contracting challenges, prioritize key workflows, and identify the biggest impact areas. We build a tailored implementation plan that fits your needs.
WEEK 2
Install Module
We connect DocJuris to your contract repositories, set up admin and user accounts, and ensure your environment is ready for success.
WEEK 3
Deliver & Test
Your team builds initial playbooks, reviews existing clause libraries, and trains the DocJuris agent to align with your internal standards and negotiation positions.
WEEK 4
Launch
We support you in rolling out DocJuris to a pilot group or your full organization—with launch materials, training, and hands-on support to drive adoption from day one.
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