DSCR would be relevant no matter how far ahead of the agreed...

DSCR would be relevant no matter how far ahead of the agreed amortisation schedule management gets because it is based on the level of operating cash flow that is available to cover the current balance of interest bearing debt.

If there was a breach of this covenant management would need to inform the bankers and discussions go from there. What the bank decides to do depends on the situation at the time. The possible options available are too numerous to go through.

One of the things that gets drilled into bankers is the 'three Cs of credit', being:
- Collateral (what assets secure the debt)
- Capacity (what earnings / cash flow is there to service debt)
- Character (do I have faith in / trust the management team)

I haven't looked into BOL in any great detail but to me if management is demonstrating they are tracking well on the amortisation schedule, and business performance hasn't dropped off the edge of the cliff, they'd probably get a covenant waiver or renegotiation. There are so many distressed sales of mining services PPE at present that it would be best for recoveries to try, as best as possible, to get management to sell down the equipment in an orderly fashion.

No guarantees though - just my quick 2c on it.