- Before
- Services 38 facilities and fields 20–30 questions a day; each one starts with finding the right page in the right amendment.
- Now
- Opens each question with a cited answer already drafted, checks the clauses and the working, and sends the reply herself.
One prepayment question, from inbox to reply
Halvorsen Cold Chain wants to prepay $60 million of its Term Loan B on Friday 30 October. Its CFO asks what it costs, how much notice the agent needs and whether any lender must consent. Here is what happens next, screen by screen, in the working solution.
- 01Tuesday morning
Six questions waiting, each already drafted
Elena Marsh · Loan servicing officerElena opens the questions that reached agency services: six waiting, from borrowers, lenders and colleagues. Hannah Lindqvist’s prepayment question for Halvorsen Cold Chain is due today at 15:00. Each already has a drafted answer with its sources; Hannah’s has nine.
“Target: answered the same business day · the officer sends every reply”
- 02One click
Six agents read the loan file
The agentsShe opens the question and the run plays in the thread. The loan file reader opens 23 executed documents — 412 pages, 640 sections, each with its page. The amendment tracker builds §2.11, §2.13 and §3.05 as amended, the answer agent drafts, and the dates and amounts calculator works the notice date on the U.S. Government Securities calendar.
Citation checker: “9 citations confirmed · 1 sentence rewritten: breakage is certified by each lender, never estimated”
- 0314 seconds
A short answer, every sentence cited
Servicing answer agentSeven sentences, nine citations, as amended to 22 Jul 2026. No prepayment fee: the 1.00% premium applies only to a Repricing Transaction, and a prepayment from cash on hand and sale proceeds is not one. No lender consent: a voluntary prepayment is paid to the 14 Term Lenders pro rata. Each number opens the clause it rests on.
“No fee, notice by 12:00 noon on Tuesday 27 October, and no lender consent.”
- 04See the chain
The clause in force, and every version it replaced
Amendment trackerUnder the answer sits the amendment chain for the term that decided it. Amendment No. 3, §4, effective 22 Jul 2026, governs: a premium window to 22 Jan 2027. Beneath it, struck through, Amendment No. 2, §3(b) — replaced 22 Jul 2026 — and the original Credit Agreement §2.11(f), replaced 14 Feb 2025, each with its document and page.
“Today the premium runs to 22 Jan 2027: a repricing before then costs 1.00%; a prepayment from cash on 30 Oct costs nothing.”
- 05As of 1 Mar 2025
What the loan said then
Elena Marsh · Loan servicing officerOne click on the “as of” control moves the date. On 1 Mar 2025 Amendment No. 2 lights up as in force, Amendment No. 3 shows “Not signed until 22 Jul 2026”, and a one-line reading says what the loan said on that day — and that the loan system still shows that old window.
“On 1 Mar 2025 Amendment No. 2 governed: a repricing before 14 Aug 2025 cost 1.00%. That window has closed — the loan system still shows it.”
- 06Open the clause
The clause on its page
Elena Marsh · Loan servicing officerAny source opens the executed document at its page with the clause highlighted — here Amendment No. 3 (Repricing and Extension), §4, page 3 of 18. Beside it, the clause as amended in three versions, a redline of what each amendment changed, and the two answers that have cited it.
“Read from the executed PDF; page and section kept for every passage. Drafts and markups in the file are never cited.”
- 07The working
Dates and amounts, line by line
Dates and amounts calculatorThe notice date is Fri 30 Oct less three U.S. Government Securities Business Days: Tue 27 Oct, 12:00. Accrued interest is $60,000,000 × 6.6214% × 30/360 = $331,070.00. Applied in direct order of maturity, the prepayment covers all 17 remaining quarterly instalments ($20,187,500) and $39,812,500 of the final payment, leaving $398,750,000 outstanding.
The one condition: if the money came from a new, cheaper term loan, the 1.00% premium would apply — $600,000.
- 08Open the loan file
The loan as amended — and two terms the system has wrong
Loan system checkerThe loan file shows the amendment chain from the 2023 Credit Agreement to Amendment No. 3, and every term as amended today with the clause that sets it. The loan system still holds a soft call ending 14 Aug 2025 and a maturity of 15 Mar 2030. Amendment No. 3 changed both, to 22 Jan 2027 and 15 Mar 2031.
- 09Sent for approval
Corrections go to loan operations
Grace Whitfield · Loan operations supervisorElena sends both corrections to loan operations. The nightly check found nine differences across eight facilities, each with the clause and what it costs — a repricing before 22 Jan 2027 would be billed without its premium; Saltmarsh’s interest is overbilled at the old margin by about $180,000 a quarter. Grace approves every change; no agent touches the loan system.
“Corrections go to loan operations; nothing changes the system without approval.”
- 10Reviewed and sent
Hannah gets a checked reply
Elena Marsh · Loan servicing officerThe reply is drafted from the checked answer: fee, notice, consent, and what to pay on the day, with the sections named in plain words. Elena reads it, keeps it as a draft or sends it from her own mailbox, copying Marcus Bell. The clauses behind each paragraph go to the servicing notes with the reply.
“Drafted from the checked answer. The clauses behind each paragraph go to the servicing notes with the reply; you send it.”