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Definition of Affirmative covenant
A bond covenant that specifies certain actions the firm must take.
Provisions in a bond indenture or preferred stock agreement that require the bond or preferred
A bond covenant that specifies certain actions the firm must take. Also called
A contractual provision in a bond indenture. A positive covenant requires certain actions, and
A bond covenant that limits or prohibits altogether certain actions unless the bondholders agree.
A part of the indenture or loan agreement that limits certain actions a company takes
Provisions that place constraints on the operations of borrowers, such as restrictions on
Restriction on a firm to protect bondholders.
A feature of a debt or credit agreement that is designed to protect the lender or creditor. It is common to characterize covenants as either positive or negative covenants.
Express stipulations included in loan agreements that are designed to monitor
Loan covenants designed to limit a corporate borrower's behavior
Loan covenants expressing minimum and maximum financial measures
Promise usually made in a contract whereby a party to the contract promises to do or not to do specified things.
A promise made related to financial conditions or events. Often a promise not to allow certain balance sheet items or ratios to fall below an agreed level. Usually found in loan documents, as a protection mechanism.
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