Document-Index-Data

Public transactional documents for an LLM benchmark

Twenty-five freely downloadable legal documents across three transaction types — facility agreements, LPAs, and SPAs — are available on SEC EDGAR, Kentucky pension FOIA releases, and UK government sites. Several come as paired sets (original plus amendment, side letter, or disclosure schedule), making them ideal for multi-document navigation benchmarks. The strongest paired sets are the Fluor credit facility with its amendment, at least four Kentucky pension LPAs bundled with side letters, and — in a rare find — two SPAs from the mid-2000s where the actual disclosure schedule content was filed publicly on EDGAR.

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Facility agreements: eight candidates including three paired sets

The richest source for LMA-style syndicated facility agreements is SEC EDGAR, where large corporate borrowers file credit agreements as exhibits to 8-K and 10-K filings. One UK government source also yielded a genuine executed facility agreement.

Netflix $5B Revolving Credit Agreement (December 2025) is the standout for sheer complexity. Filed as Exhibit 10.1 to an 8-K, it runs ~100+ pages across nine articles, with Wells Fargo as administrative agent and a dozen syndication/documentation agents. The same filing includes a paired $20B Delayed Draw Term Loan as Exhibit 10.2 — two massive, related credit agreements filed simultaneously in connection with Netflix's acquisition of Warner Bros. Discovery assets.

• Original: https://www.sec.gov/Archives/edgar/data/0001065280/000119312525327462/d82688dex101.htm
• Paired DDTL: https://www.sec.gov/Archives/edgar/data/0001065280/000119312525327462/d82688dex102.htm
• Format: HTML | Parties: Netflix, Inc. (borrower), Wells Fargo Bank N.A. (admin agent) | ~100+ pages each

Fluor Corporation $1.8B Third Amended and Restated Revolving Facility (February 2022) plus Amendment No. 1 (August 2023) is the best original-plus-amendment pair. The base agreement is ~130+ pages with ESG-linked provisions, sustainability coordinator language, and collateral mechanics. The amendment is a separate filing modifying specific terms with lender consent pages attached.

• Original: https://www.sec.gov/Archives/edgar/data/1124198/000162828022003033/ex101-creditagreementtext2.htm
• Amendment No. 1: https://www.sec.gov/Archives/edgar/data/0001124198/000110465923090465/tm2323493d1_ex10-1.htm
• Format: HTML | Parties: Fluor Corporation (borrower), BNP Paribas (admin agent) | ~130 pages + ~15-page amendment

Generac Holdings ABL Facility (May 2021) offers the deepest amendment trail — the original Third Amended and Restated ABL agreement was followed by a Second Amendment to Term Loan in the same filing, a Third Amendment/Restatement in June 2022 creating new tranches, and a 2024 Replacement Term Loan Amendment. This four-document chain tests multi-hop navigation across years of amendments.

• Original ABL: https://www.sec.gov/Archives/edgar/data/0001474735/000143774921013716/ex_253879.htm
• Term Loan Amendment (same filing): https://www.sec.gov/Archives/edgar/data/0001474735/000143774921013716/ex_253880.htm
• 2022 Amendment: https://www.sec.gov/Archives/edgar/data/0001474735/000143774922016225/gnrc20220629_8k.htm
• 2024 Amendment: https://www.sec.gov/Archives/edgar/data/0001474735/000143774924022233/gnrc20240703_8k.htm
• Format: HTML | Parties: Generac Power Systems (borrower), Bank of America (admin agent) | ~165 pages original

The Mosaic Company Credit Agreement (August 2021) is another high-complexity candidate with 10 articles, 21 schedules, and 11 exhibits — an unusually complete document. It includes multi-currency provisions, letter of credit sub-facilities, and CUSIP numbers confirming execution.

• URL: https://www.sec.gov/Archives/edgar/data/1285785/000124378621000109/exhibit4i-2021creditagreem.htm
• Format: HTML | Parties: The Mosaic Company (borrower), Bank of America N.A. (admin agent) | ~115+ pages

Royal Wolf Holdings A$125M Syndicated Facility Agreement (October 2017) is the closest match to genuine APLMA/LMA-style drafting. Governed by Australian law and drafted by King & Wood Mallesons, it uses BBSY/BKBM interest rate references, has a multi-tranche structure (revolving, bullet term loans), and runs 171+ pages in PDF format — rare among EDGAR filings, which are typically HTML.

• URL: https://www.sec.gov/Archives/edgar/data/1342287/000165495417009758/exh_101.pdf
• Format: PDF | Parties: Royal Wolf Holdings Ltd (borrower), Deutsche Bank AG Sydney (arranger), Perpetual Corporate Trust (agent) | ~171 pages

Network Rail £30.3B Facility Agreement (July 2014) is a UK government-published executed facility between the Secretary of State for Transport and Network Rail. Shorter than the SEC examples (~25 pages plus schedules) but a genuine bilateral government loan facility with full drawdown mechanics, representations, undertakings, and events of default.

• URL: https://assets.publishing.service.gov.uk/media/5a7f05b0e5274a2e8ab49acc/facility-agreement.pdf
• Format: PDF | Parties: Secretary of State for Transport (lender), Network Rail Infrastructure Limited (borrower) | ~25 pages

Two additional candidates round out the set: XPEL Inc. $125M Credit Agreement (April 2023, HTML, modern SOFR-based mid-market facility) at https://www.sec.gov/Archives/edgar/data/1767258/000176725823000018/creditagreementdated4623.htm and Party City ABL Credit Agreement (October 2023, HTML, post-restructuring complexity) at https://www.sec.gov/Archives/edgar/data/0001592058/000095014223002592/eh230409100_ex1001.htm.

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LPAs: ten candidates, four with paired side letters

Limited partnership agreements proved available from two excellent sources: SEC EDGAR (where funds file LPAs as exhibits to registration statements and periodic reports) and the Kentucky Public Pensions Authority (KPPA/KYRET), which maintains a public investment manager contracts library with dozens of LPAs released under Kentucky open records law.

SEC EDGAR LPAs

Thomas High Performance Green Fund LPA plus Side Letter is the single best paired LPA set on EDGAR. The LPA (Exhibit 10.36) runs ~55 pages across 16 articles with full capital commitment, distribution waterfall, management fee, advisory committee, and clawback provisions. The associated institutional investor side letter (Exhibit 10.37) modifies terms around capital calls, subscription line indebtedness, blind pool restrictions, and confidentiality — exactly the kind of paired set useful for testing cross-document reasoning.

• LPA: https://www.sec.gov/Archives/edgar/data/1283709/000119312508059814/dex1036.htm
• Side Letter: https://www.sec.gov/Archives/edgar/data/1283709/000119312508059814/dex1037.htm
• Format: HTML | Parties: GP: Thomas HPGF-GP, LLC; LP: institutional investors | ~55 pages + ~8-page side letter

Carlyle Private Equity Partners Fund LPA (2025) is the most recent and comprehensive standalone LPA found — 11 articles, ~50+ pages, covering incentive allocations, GP indemnification, transfer restrictions, and AEOI compliance. Filed as Exhibit 3.2 to a Form 10-12G/A, it is marked "Highly Confidential & Trade Secret" yet sits publicly on EDGAR.

• URL: https://www.sec.gov/Archives/edgar/data/0002065337/000162828025033288/exhibit32-form10a.htm
• Format: HTML | Parties: GP: CPEP General Partner, L.P. (Carlyle Group) | ~50+ pages

CapitalSouth Partners Fund II LPA (2013) adds regulatory variety — it is an SBIC (Small Business Investment Company) fund LPA with 15+ articles including SBA-specific requirements and debenture provisions layered over standard PE terms.

• URL: https://www.sec.gov/Archives/edgar/data/1571329/000119312513376445/d505298dex99b2.htm
• Format: HTML | Parties: GP: CapitalSouth Partners, LLC | ~60+ pages

Apollo Advisors IX LPA and Apollo Advisors X LPA are carry vehicle agreements for Apollo's flagship PE buyout funds. While not the main fund LPAs, they contain rarely-seen detailed carried interest mechanics including a "Points" allocation system — valuable for testing understanding of complex distribution waterfalls.

• Apollo IX: https://www.sec.gov/Archives/edgar/data/0001411494/000141149418000051/exhibit1070q318.htm (~38 pages)
• Apollo X: https://www.sec.gov/Archives/edgar/data/0001858681/000185868124000048/exhibit102q12024apolloadvi.htm (~35 pages)

Kentucky pension FOIA releases — the richest LPA source

The KYRET investment manager contracts library at https://www.kyret.ky.gov/Investments/Investments-Library/Pages/Investment-Manager-Contracts.aspx contains dozens of LPAs. Crucially, many bundle the LPA and side letter in a single PDF, making them ideal for multi-document benchmarks. Some commercially sensitive terms (fee rates, commitment amounts) are redacted under KRS 61.878(1)(c), but the legal structure and provisions are substantially intact.

Lubert-Adler Real Estate Fund VII-B LPA plus Side Letter is the most comprehensive KYRET document — 77+ pages covering 18 sections with full distribution waterfall, management fee, valuation, ERISA, credit facility, and executive board governance provisions, plus the Kentucky Retirement Systems side letter.

• URL: https://www.kyret.ky.gov/Investments/Investments-Library/Investment%20Manager%20Contracts/Lubert-Adler%20Real%20Estate%20Fund%20VII-B%20L.P.%20-%20LPA%20and%20Side%20Letter%20Redacted.pdf
• Format: PDF | Parties: GP: Lubert-Adler Group VII-B, LLC; LP: Kentucky Retirement Systems | ~77+ pages | Includes side letter

MiddleGround Partners I LPA plus Side Letter — ~80+ pages, 12 articles, a modern PE buyout fund LPA with key person provisions, co-investment mechanics, and bridge financing terms alongside the side letter.

• URL: https://www.kyret.ky.gov/Investments/Investments-Library/Investment%20Manager%20Contracts/MiddleGround%20Partners%20I%20L.P%20LPA%20and%20Side%20Letter%20REDACTED.pdf
• Format: PDF | Parties: GP: MiddleGround Management, LLC; LP: Kentucky Retirement Systems | ~80+ pages | Includes side letter

White Oak Yield Spectrum Parallel Fund LPA plus Side Letter — ~35+ pages, a private credit fund LPA offering variety in fund strategy (credit vs. equity) for the benchmark.

• URL: https://kyret.ky.gov/Investments/Investments-Library/Investment%20Manager%20Contracts/White%20Oak%20-%20KRS%20-%20LPA%20and%20Side%20Letter%20Redacted.pdf
• Format: PDF | Parties: GP: White Oak entity; LP: Kentucky Retirement Systems | ~35+ pages | Includes side letter

CS Adjacent Investment Partners Parallel LP — a Credit Suisse-affiliated alternative credit fund LPA with detailed carried interest distributions and tax allocation provisions.

• URL: https://www.kyret.ky.gov/Investments/Investments-Library/Investment%20Manager%20Contracts/CS%20ADJACENT%20INVESTMENT%20PARTNERS%20PARALLEL%20LP.pdf
• Format: PDF | ~40+ pages

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SPAs: seven candidates plus two rare disclosure schedules

Share purchase agreements are abundant on EDGAR, but disclosure schedules are almost universally omitted per Regulation S-K Item 601(b)(2). The SPAs themselves, however, are filed in full with all representations, warranties, covenants, and indemnification provisions intact.

Top SPA candidates

Spirit AeroSystems / Tex-Tech / Fiber Materials SPA (November 2024) — 113+ pages, 13 articles, the most complex SPA found. Includes government contract representations, R&W insurance provisions, Boeing merger-specific carve-outs, anti-bribery/sanctions sections, and a $165M purchase price with detailed adjustment mechanics.

• URL: https://www.sec.gov/Archives/edgar/data/0001364885/000110465924120232/tm2428689d1_ex2-1.htm
• Format: HTML | Parties: Buyer: Tex-Tech Industries; Seller: Spirit AeroSystems; Target: Fiber Materials Inc.

Meta Platforms / Shutterstock (Giphy) SPA (May 2023) — A high-profile forced divestiture with cross-border elements (UK CMA clearance requirements), tech IP provisions, and data privacy sections. The CMA-ordered sale of Giphy makes this a unique regulatory story embedded in a transaction document.

• URL: https://www.sec.gov/Archives/edgar/data/1549346/000114036123026154/brhc20053362_ex2-1.htm
• Format: HTML | Parties: Seller: Meta Platforms; Buyer: Shutterstock | ~80+ pages

PPG Industries / Consorcio Comex SPA (June 2014) — The largest deal at $1.97 billion, a cross-border US/Mexico transaction with NIF (Mexican GAAP) accounting provisions, purchase price in pesos, and 31+ representations sections covering Mexican labor law, environmental, and FCPA issues.

• URL: https://www.sec.gov/Archives/edgar/data/79879/000007987914000054/stockpurchaseagreement-exh.htm
• Format: HTML | Parties: Buyer: PPG Industries; Sellers: Avisep/Bevisep; Target: Comex | ~100+ pages

CPSI / PointClickCare SPA (January 2024) — Healthcare IT acquisition with 30 company representations including CFIUS, HIPAA, and healthcare-specific compliance sections, plus a three-tiered escrow structure.

• URL: https://www.sec.gov/Archives/edgar/data/0001169445/000119312524008957/d611562dex21.htm
• Format: HTML | Parties: Buyer: PointClickCare; Sellers: American HealthTech & Healthland; Parent: CPSI | ~100+ pages

VieMed / Home Medical Products SPA (April 2023) and TechPrecision / Votaw SPA (November 2023) are mid-market deals at ~60-70 pages each, with VieMed featuring a Section 338(h)(10) tax election and TechPrecision including earnout provisions and PPP/ERC-specific terms.

• VieMed: https://www.sec.gov/Archives/edgar/data/1729149/000172914923000050/ex2141823stockpurchaseagre.htm
• TechPrecision: https://www.sec.gov/Archives/edgar/data/1328792/000110465923122025/tm2331591d1_ex2-1.htm

The rare disclosure schedule finds

Two older filings broke the norm by including actual disclosure schedule content — a genuine rarity worth noting for benchmark purposes.

First Avenue Networks Disclosure Schedule (December 2004) contains real substantive exceptions to representations: capitalization details, Chapter 11 bankruptcy history, $14.3M indebtedness, 401(k) plan information, and insider transaction disclosures.

• URL: https://www.sec.gov/Archives/edgar/data/1010286/000119312504212899/dex104.htm
• Format: HTML | Organized by SPA section number

ArthroCare Corporation Disclosure Letter (August 2009) includes detailed patent litigation descriptions (Gyrus Medical lawsuit, arbitration proceedings) organized as exceptions to the seller's representations.

• URL: https://www.sec.gov/Archives/edgar/data/1005010/000119312509237465/dex1051.htm
• Format: HTML | Part of a PE take-private transaction with OEP AC Holdings

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Recommended selections for the benchmark

The table below ranks the strongest candidates for each document type, prioritizing complexity, paired documents, and format diversity.

Priority	Document	Type	Pages	Format	Paired document?
1	Fluor $1.8B Facility + Amendment No. 1	Facility	~130 + ~15	HTML	✅ Amendment
2	Netflix $5B Revolving + $20B DDTL	Facility	~100 + ~100	HTML	✅ Related facility
3	Generac ABL + 3 amendments	Facility	~165 + amendments	HTML	✅ Multi-amendment chain
4	Royal Wolf A$125M Syndicated	Facility	~171	PDF	No
5	MiddleGround Partners I LPA + Side Letter	LPA	~80	PDF	✅ Side letter
6	Lubert-Adler RE VII-B LPA + Side Letter	LPA	~77	PDF	✅ Side letter
7	Thomas Green Fund LPA + Side Letter	LPA	~55 + ~8	HTML	✅ Side letter (separate file)
8	Carlyle PE Partners Fund LPA	LPA	~50	HTML	No
9	Spirit AeroSystems/Fiber Materials SPA	SPA	~113	HTML	No
10	Meta/Shutterstock (Giphy) SPA	SPA	~80	HTML	No
11	PPG/Comex $1.97B SPA	SPA	~100	HTML	No
12	First Avenue Networks SPA + Disclosure Schedule	SPA	~30 + ~5	HTML	✅ Filed disclosure schedule

For multi-document navigation tasks, the four strongest paired sets are: Fluor facility + amendment (tests amendment cross-referencing), MiddleGround LPA + side letter (tests side letter override identification), Generac facility + amendment chain (tests multi-hop temporal reasoning across four documents), and Thomas Green Fund LPA + side letter (tests paired exhibit navigation on EDGAR). The First Avenue Networks SPA + disclosure schedule is a rare but lower-complexity option for testing schedule-to-representation mapping.

The KYRET pension fund library deserves special mention as an ongoing source — it contains many additional LPAs beyond those listed here, and new contracts are added as Kentucky open records requests are fulfilled. For Australian/LMA-style facility drafting, the Royal Wolf agreement is the best available public example of genuine APLMA precedent, complete with BBSY rate mechanics and multi-tranche structures that closely mirror LMA standard form.