LEVFIN ACADEMY ALL RIGHTS RESERVED PUBLICATIONS — LICENSE AND USE

Copyright © 2026 Federico Etchelecu. Published by LevFin Academy.
All rights reserved.

Covered works

- The Leveraged Finance Covenants Bible, controlled-access teaching edition.
- The Leveraged Finance Book, condensed teaching edition.
- Companion models, exercises and downloadable materials expressly included in
  the applicable release package.

Permitted use

The lawful recipient may retain the purchased, public-release or otherwise
authorised copy and use it for that recipient's personal professional education.
An employer or institution may use it internally only under a separate written
institutional licence from LevFin Academy.

Prohibited use

No part of a covered work may be redistributed, uploaded to a shared repository,
resold, sublicensed, publicly displayed, used to create a competing publication
or training product, or reproduced beyond uses permitted by applicable law,
without prior written permission from LevFin Academy. Removal of copyright,
source, licence or access-control notices is prohibited.

Professional boundary

The materials are educational. They are not legal, tax, accounting, regulatory
or investment advice and do not replace the operative documents, current primary
sources or advice from qualified professionals. Examples identified as fictional
or synthetic are teaching assumptions, not descriptions of an actual issuer,
client or transaction. No outcome, valuation, recovery, market price or legal
result is promised.

Third-party material

Third-party laws, filings, judgments and official publications remain subject to
their own terms and rights. Citations and links identify those external sources;
this licence does not grant rights in them.

Release control

This licence applies only to a release package whose exact SHA-256 has been
approved in writing by the rights holder. A draft, review candidate or local
build without that external approval is not authorised for publication or
distribution.

The restored long-form LevFin Book is a separate private working draft supplied
only as controlled cohort material. It is not a public release, may change, and
may not be redistributed. Its inclusion with a cohort reservation does not
convert it into a covered public-release work under this licence.

Permissions and institutional licensing: https://levfinacademy.com