LOAN COVENANT
\lˈə͡ʊn kˈʌvənənt], \lˈəʊn kˈʌvənənt], \l_ˈəʊ_n k_ˈʌ_v_ə_n_ə_n_t]\
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loan agreement boundary as a typical restrictive, negative covenant. Restrictions such as not incurring more debt, no executive salary increases, no bonuses, and the like are examples of limiting the freedom of a borrower or company's management.
By Henry Campbell Black
Word of the day
Mustagh Range
- a mountain range in northern Kashmir; an extension of the Hindu Kush; contains 2nd highest peak