[QuantumGood]

Well, he seems to address this directly where he states:

"We did suggest that holding nine months worth of principal payments in advance in a reserved account was a bit extreme and, moreover, was never part of our original loan agreement. The DOE agreed and reduced the advance payment reserve account to six months."

You saying

"keep certain financial ratios up to certain levels, and tesla failed to do that. As a result, tesla asked the government to change the terms"

...doesn't seem to add to or contradict his statements.

So unless you can clarify, your statement that "that is the full story ... elon was definitely not giving you all relevant info." seems inaccurate.

[kimmiller]

Financial ratios and/or debt covenants compared to a reserved cash account - two different things. Sure, the cash account can be a small part of a debt covenant but is usually just that - a very small part.

Which debt covenants were breached? Often times they put these checks in when they think something bad is going to happen. Then a couple of years down the line they mean absolutely nothing, are breached (usually because the company has forgotten about one of them and accidently breaches them) and need to be restructured with the lender asking for something in return.

Sounds like something like the above happened?

[hristov]

The ratio I was talking about was the debt/ebitda ratio. See e.g.:

http://www.investorguide.com/article/11088/tesla-tlsa-crashe...