GovernanceRehearsal is used in practice in the following contexts.
Credit situations under pressure
Performance is deteriorating but covenants are not yet breached. The borrower is cooperating. The syndicate has not escalated.
This is when decisions about engagement, conditionality, and escalation carry the highest consequence for the leverage position - and when they are least likely to receive structured attention.
Decision-making before escalation
Before a situation reaches formal escalation - while it is still being managed through routine processes - teams face a sequence of decisions that collectively determine the institution's position.
GovernanceRehearsal is used at this stage to make visible what those decisions are removing.
Portfolio reviews
Portfolio reviews describe current positions. They rarely examine how decisions taken this quarter will narrow what is available next quarter.
GovernanceRehearsal is used alongside these discussions to surface where leverage is being given up across the portfolio.
High-exposure decisions
Waiver negotiations. Covenant resets. Syndicate coordination under pressure. These occur infrequently but carry significant consequences for the leverage position.
Working through them in advance changes how they are handled when the situation arrives.
Initial setup uses your own situations.