Question: Using the Dry Supply case study for an example of loan documentation process and related requirements, suppose that Dry Supply and the bank agreed to

Using the Dry Supply case study for an example of loan documentation process and related requirements, suppose that Dry Supply and the bank agreed to the following terms:

Borrower: Dry Supply Inc.

Amount $60,000

Purpose: purchase 3 vans

Rate: 6%

Term: 5 years

Repayment: 5 year amortization

Guarantee: Kaitlyn and Emily Nielson

Other conditions: No mergers or acquisitions without bank consent, debt-to-worth ratio will not exceed 2.5x, monthly internally prepared financial statements, annual reviewed financial statements prepared by accounting firm

List some affirmative and negative covenants that can be applied to Dry Supply.

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