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CMBS Covenant Insight Module

Commercial Loan & CMBS to immediately understand the related cash management covenants


Understand details of Commercial Loans & CMBS Cash Management clauses & impact on cash flows

CMBS product structures contain clauses that stipulate how cash generated from the underlying assets are to be handled and who has control over the accounts, including covenants on changes if there is stress on the underlying properties. Claira understands and interprets all the information described in the prospectus regarding these cash management and makes them available for underwriters, investors and traders.

Sample Insights

  • Establishment of Lockbox Account

  • Details of Cash Management Account

  • Cash Trap Trigger Events

  • Calc method for Debt Yield/DSCR based triggers

  • Property Characteristic Based Triggers

  • Impact of Cash Trap Triggers

  • Control Changes of Cash Accounts

  • Funding of Cash Reserves

  • Cashflow Waterfall Changes

  • Key Deal Attributes, i.e. issuer, date & identifiers

Connect To File Repositories Or Drag & Drop

Claira’s pretrained algorithm allows you to simply upload relevant prospectus and immediately understand the cash management details of the deal. 

Integrate your trading or portfolio systems to scale outcomes by your exposure.

Review Understanding of Prescribing Sentences

Avoid having to read or search through the 500 page prospectus’. Claira highlights relevant sentences it understood to determine the generated insight. 

Share and escalate document results within the platform for further action.

Download insight data for downstream analysis

Export deal level summary and sentence level insight data as a CSV/EXCEL file or via an API. 

Desired analytics can be customized to your portfolio needs.

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