Syndicated U.S. Corporate Loans - Credit Agreement Due Diligence

Hey,

So I am doing a bit of research on the evaluation process for active portfolio managers of syndicated corporate loans in the secondary market when it comes to credit agreements. If you could be specific as possible that would be greatly helpful and I'll toss some silver bananas in your direction.

1. How much time, effort, and money would you say is spent during the due diligence process and how much of that time, effort, and money is spent on activities related to the credit agreement?
2. What exactly are the most important items that you are reviewing in-depth in a credit agreement?
3. Which items are you reviewing that are easily sourced from reports, conversations, or third party-vendors that tie back to the credit agreement?
4. Where are the gaps that add significant pain points?
5. What are the largest areas of friction when attempting to due diligence a credit agreement vs. information that is either easily sourced externally or where the gaps are?
6. What would you recommend a new tool provide in making your life a lot easier [less time, effort, and money] to support your decision making process when performing due diligence on the credit agreement for a specific investment opportunity [I am under the impression that conversion rate to move from DD to a trade is near 20%, far below the 80% from 2-3 years ago]?
7. Any other insights you may want to provide that causes friction in how you evaluate investment opportunity in this space that you wish was fixed via a technical solution.