That's a good story. Does it actually happen? Nothing in the tweet thread talked about this scenario, and I'm not aware offhand of examples of this, and I rathe

That's a good story. Does it actually happen? Nothing in the tweet thread talked about this scenario, and I'm not aware offhand of examples of this, and I rather suspect it wouldn't work in practice. You say "not a lot of covenants", but change in control covenants are pretty standard, and would be triggered in the simple form of your example. As you note, there's often a way around these things but without examples, this feels awfully tenuous.