Bond covenantA contractual provision in a bond indenture. A positive covenant requires certain actions, and a negative covenant limits certain actions.
Positive covenant (of a bond)Positive covenant (of a bond)
A bond covenant that specifies certain actions the firm must take. Also called an affirmative covenant.
Negative covenantNegative covenant
A bond covenant that limits or prohibits certain actions unless the bondholders agree.
Breach of covenantBreach of covenant
The failure to obey a legal agreement. Breach of warranty A seller's inability to pass clear title to a buyer.
CC and Rs (Covenants, Conditions and Restrictions)CC and Rs (Covenants, Conditions and Restrictions)
Limitations placed on the use and enjoyment of real property. These are found most often in condominiums and planned unit developments.
Affirmative covenantAffirmative covenant
A bond covenant that specifies certain actions the firm must take.
Further SuggestionsRestrictive covenants
deed of covenant
Deed of covenant