Check out the footnotes to financial statements of Eli Lilly and Company for debt agreements to which the company or any subsidiary is a party, as well as all debt guarantees. Note any restrictions on dividends, on incurring extra debt, and issuing additional capital stock. Note any unusual consent or default provisions. If subordinated debt securities are being issued, compare new subordination provisions with the provisions for other agreements for compatibility. Review the latest borrowing base certificates. Inquire whether there are any defaults or potential defaults.