LO-002
Scenario
This case tests the system's ability to correctly process an amendment notice rather than a primary credit agreement. The Delta Facilities Amendment Notice modifies three key fields — margin, maturity date, and one covenant threshold — in an existing term loan. The challenge is that the document does not re-state unchanged fields; a model that extracts all fields from this document will fabricate values for fields that are intentionally absent. The system must: (1) identify that this is an amendment document, (2) extract only the amended fields, (3) capture original and new values for each amended field, (4) extract the effective date of the amendment, and (5) flag unchanged fields as "unchanged — refer to original agreement."
Input
Document: delta-amendment-notice.pdf
Task: Extract all loan onboarding fields from this document. Flag whether each field is being amended by this notice or is unchanged. For amended fields, provide: original value, new value, and the effective date of the amendment.
Expected Output
Document classification: Amendment Notice — not a primary credit agreement. Original agreement: Delta Industries Ltd. Term Loan Facility Agreement dated 12 March 2023.
| Field | Status | Original Value | New Value | Effective Date |
|---|---|---|---|---|
| Borrower | Unchanged | — | — | — |
| Guarantors | Unchanged | — | — | — |
| Facility Agent | Unchanged | — | — | — |
| Facility Amount | Unchanged | — | — | — |
| Currency | Unchanged | — | — | — |
| Facility Type | Unchanged | — | — | — |
| Tenor | Unchanged | — | — | — |
| Maturity Date | Amended | 2026-06-30 | 2027-06-30 | 2026-04-01 |
| Margin / Spread | Amended | 175 basis points per annum | 215 basis points per annum | 2026-04-01 |
| Reference Rate | Unchanged | — | — | — |
| Commitment Fee | Unchanged | — | — | — |
| Repayment Schedule | Unchanged | — | — | — |
| Governing Law | Unchanged | — | — | — |
| Conditions Precedent | Amended | [See original agreement] | Delivery of updated audited financial statements for FY2025 within 30 days of this amendment | 2026-04-01 — one-time CP for this amendment |
| MAC clause | Unchanged | — | — | — |
| Negative Pledge | Unchanged | — | — | — |
Effective date of all amendments: 1 April 2026
Ground Truth Citation
Document Classification
"THIS AMENDMENT NOTICE is dated 20 March 2026 and is made between (1) DELTA INDUSTRIES LIMITED (the 'Borrower') and (2) MERIDIAN BANK (HONG KONG) LIMITED (the 'Facility Agent'). This Notice amends the Term Loan Facility Agreement dated 12 March 2023 (the 'Facility Agreement') as set out herein."
Source: delta-amendment-notice.pdf, Page 1, Recitals
Margin Amendment
"With effect from the Effective Date, Clause 9.1 (Rate of interest) of the Facility Agreement is amended by replacing the reference to '1.75% per annum' with '2.15% per annum'."
Source: delta-amendment-notice.pdf, Page 2, Clause 3.1(a) (Amendments to the Facility Agreement)
Maturity Date Amendment
"With effect from the Effective Date, the definition of 'Final Maturity Date' in Clause 1.1 of the Facility Agreement is amended by replacing '30 June 2026' with '30 June 2027'."
Source: delta-amendment-notice.pdf, Page 2, Clause 3.1(b) (Amendments to the Facility Agreement)
Conditions Precedent (Amendment-Specific)
"The effectiveness of this Amendment Notice is conditional upon the Facility Agent receiving, in form and substance satisfactory to it, delivery of the audited financial statements of the Borrower for the financial year ended 31 December 2025 within 30 days of the date of this Notice."
Source: delta-amendment-notice.pdf, Page 3, Clause 4.1 (Conditions Precedent to Amendment)
Effective Date
"'Effective Date' means 1 April 2026, provided that all conditions precedent set out in Clause 4 have been satisfied or waived by the Facility Agent."
Source: delta-amendment-notice.pdf, Page 1, Clause 1.1 (Definitions)
Scoring Criteria
| Condition | Score |
|---|---|
| Document correctly classified as amendment; all 3 amended fields extracted with original + new values + effective date; unchanged fields correctly flagged as unchanged | 1.0 |
| Document correctly classified as amendment; amended fields extracted but effective date not captured or incorrect | 0.75 |
| Amended fields extracted correctly but unchanged fields are re-stated with fabricated values (not "unchanged") | 0.25 |
| Document treated as a primary agreement and all 16 fields extracted (fabricating values for absent fields) | 0.0 |
| Any value fabricated for a field not present in the amendment document | 0.0 (case-level, hallucination) |
Known Failure Modes
- Treating the amendment notice as a primary agreement and fabricating values for unchanged fields (e.g., inventing a Borrower name or Facility Amount that doesn't appear in this document).
- Extracting the amendment's one-time CP as a permanent CP of the underlying facility.
- Missing the conditional nature of the Effective Date (i.e., stating "effective 1 April 2026" without noting it is conditional on CP satisfaction).
- Extracting the new margin (2.15%) without preserving the original margin (1.75%) that appears in the amendment clause.
- Not classifying this as an amendment notice at all — treating the document as an ordinary facility agreement.
Regression Note
N/A — initial case