# Covenants Schedule

Leverage, coverage and liquidity covenant tests against thresholds.

- Canonical: https://finamodel.com/schedules/covenants
- Group: Financing & Debt
- Found in: 10 models
- Sheet-name variants: Covenants, Ratios_Covenants, Covenants_Ratios

## About this covenant schedule

A covenant schedule tests leverage, interest coverage, fixed charge coverage, liquidity, and other lender-defined ratios against required thresholds. It converts model outputs into pass or fail signals that help borrowers and lenders monitor credit risk.

Use this free Excel covenant schedule preview to study how debt models present covenant calculations, headroom, and downside-case warnings. It is useful for leveraged finance, credit underwriting, refinancing analysis, and private equity models with loan agreements.

## Source models

- [lbo](https://finamodel.com/templates/lbo-model) - sheet: Covenants
- [debt-schedule](https://finamodel.com/templates/debt-schedule) - sheet: Covenants
- [ride-hailing](https://finamodel.com/templates/ride-hailing-model) - sheet: Covenants_Ratios
- [mortgage-portfolio](https://finamodel.com/templates/mortgage-portfolio-model) - sheet: Ratios_Covenants
- [factoring](https://finamodel.com/templates/factoring-model) - sheet: Covenants
- [leasing](https://finamodel.com/templates/leasing-model) - sheet: Covenants
- [credit-rating](https://finamodel.com/templates/credit-rating-model) - sheet: Covenants
- [commodities-trading](https://finamodel.com/templates/commodities-trading-model) - sheet: Ratios_Covenants
- [macro-scenario](https://finamodel.com/templates/macro-scenario-model) - sheet: Covenants
- [coworking-space](https://finamodel.com/templates/coworking-space) - sheet: Covenants

## Related schedules

- [Debt Schedule](https://finamodel.com/schedules/debt-schedule) - Tranche-by-tranche debt with draws, repayments, interest and balances.
- [Sources & Uses](https://finamodel.com/schedules/sources-and-uses) - Transaction funding bridge balancing sources against uses of capital.
- [Funding & Cash Runway](https://finamodel.com/schedules/funding-runway) - Cash burn, funding rounds and months-of-runway tracking.
- [Loan Book](https://finamodel.com/schedules/loan-book) - Bank loan-portfolio build with yields, growth and provisioning.