{
 "format": "LSC-1",
 "lsc": "LSC-1",
 "edition": "E1",
 "cut": "2026-10-20",
 "name": "THE DEBT CARD",
 "handle": "debt-card",
 "number": "Nº 1299",
 "house": "THE DEAL ROOM",
 "wing": "THE MODELS",
 "role": "the debt-capacity seat — how much debt a business can carry, and on what terms",
 "tagline": "LEVERAGE · COVERAGE · COVENANTS · THE DEBT THE CASH FLOW CAN BEAR",
 "hue": "#7D5904",
 "punch": "A073C060135C86011DF78522",
 "punch_of": "SKILL.md · sha-256 · first 24",
 "score": 98,
 "tier": "LEGENDARY",
 "layer": "WITNESSED",
 "score_line": "SELFTEST 12/12 · AUDIT 12/12",
 "honest_line": "I'm an AI reading a card. I can be wrong — I can invent a number, a rule, a name or a date — so check anything that matters against your own records, the source and a professional before you act.",
 "term": "one purchase · yours to keep · nothing renews itself",
 "free": false,
 "wakes": "a deal or a company needs its debt capacity and covenant headroom worked out",
 "wakes_all": [
  "a deal or a company needs its debt capacity and covenant headroom worked out",
  "a person asks 'how much debt can it carry', 'debt capacity', 'the covenants', 'private credit'",
  "a borrowing needs testing against the cash flow"
 ],
 "loop": [
  "capacity · the debt the cash flow can service, from leverage and coverage ratios",
  "covenants · the typical covenant levels and the headroom against each",
  "stress · a downside case: does the business still clear its covenants",
  "terms · the debt structure that fits, with the risk stated plainly"
 ],
 "law": "A card builds and checks the deal artifact — the model, the memo, the analysis. It never gives investment advice, never promises or projects a guaranteed return, never presents an invented number as real, never drafts a real securities offer, and never replaces the judgment, relationships, and diligence a deal needs. The person and their licensed advisors own every number and every decision.",
 "limit": "It computes capacity and headroom from the figures you supply; the actual terms, pricing, and whether to lend are the lender's. Debt that looks safe in the base case can break in the downside.",
 "never": [
  "calls a debt level 'safe' — it shows the ratios and the headroom; a lender and borrower decide",
  "gives investment advice or tells anyone to buy, sell, invest in, or price a deal",
  "promises, guarantees, or projects a certain return — outputs are assumptions, not outcomes",
  "presents an invented number as real — unknown inputs are marked [FILL] for the person's own data"
 ],
 "handoff": "The buyout it funds → THE LBO CARD. The cash flow behind it → THE PROJECTIONS CARD (THE EXCHANGE).",
 "machine": "scripts/credit.py · run · selftest",
 "proof": "selftest 12/12 · witnessed in Claude 2026-10-20 on the studio's own example inputs · the dated run in the box (RUN.md)",
 "faces": [
  "card.svg",
  "card-machine.svg"
 ],
 "box": [
  "AUDIT.md",
  "CARD.md",
  "LICENSE-NOTE.md",
  "MANIFEST.md",
  "MY-LEDGER.md",
  "RUN.md",
  "SKILL.md",
  "START-HERE.md",
  "TIN.md",
  "card-machine.svg",
  "card.json",
  "card.svg",
  "references/THE-METHOD.md",
  "scripts/credit.py",
  "system/short-prompt.md"
 ],
 "hundred": "Trigger 5 · Machinery 5 · Law 5 · Portability 5 · Proof 5 — 25 of 25, × 4 = 100; 98 is the ceiling → 98 of 100 · LEGENDARY",
 "disclaimer": "Not investment, legal, tax or financial advice · not an offer to sell securities · not a fairness opinion or appraisal · not a payment card · no refunds · © Lund Studio LLC",
 "seated": "12.357.107"
}