Thanks to Sarah's email I know first hand that the company as a good relationship with the lender despite being in violoation of what has been disclosed as restrictive covenant of the loan.  

Some think that should be the end of it, that anyone else who doesn't read this forum....that they should naturally assume that everything is fine, and that breaching the terms of the loan is fine because there hasn't been news to the contrary...if the company says nothing, then everything is fine.

I disagree, and we'll have to leave it at that.  If anyone wants to discuss this with me further then feel free to PM me, although I won't promise to respond.