Curious to get any lender's thoughts on an appropriate, reasonable request for a revolving credit facility. Is there an appropriate formulaic way to think about the revolver capacity in the context of Accounts Receivable or overall Net Working Capital or the T12 NWC Average? What are the typical bands or ranges for those formulaic metrics? Just want to understand what is a fair, reasonable ask vs. an aggressive ask?

How much does leverage factor into the capacity consideration? Or is the revolver purely a function of the working capital base and needs?