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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
Promise usually made in a contract whereby a party to the contract promises to do or not to do specified things.
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.
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.
Express stipulations included in loan agreements that are designed to monitor
A bond covenant that limits or prohibits altogether certain actions unless the bondholders agree.
Loan covenants designed to limit a corporate borrower's behavior
Loan covenants expressing minimum and maximum financial measures
A part of the indenture or loan agreement that limits certain actions a company takes
Restriction on a firm to protect bondholders.
Provisions that place constraints on the operations of borrowers, such as restrictions on
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