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Rate covenant |
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Rate covenantA provision governing a municipal revenue project financed by a revenue bond issue, which establishes the rates to be charged users of the new facility.Rate covenant Similar MatchesBond covenantBond covenantA contractual provision in a bond indenture. A positive covenant requires certain actions, and a negative covenant limits certain actions. CovenantCovenantA formal agreement made in a deed. Deed of covenantDeed of covenantThis is a document which confirms that the buyer of a property will comply with the rules and conditions affecting the property which can be found in the Title Deed or Lease. Negative covenantNegative covenantA bond covenant that limits or prohibits certain actions unless the bondholders agree. Deed of covenantDeed of covenantA legal document which records the obligation of one individual to pay a specified sum to another for a specified number of years.The individual making the payment deducts tax at the basic rate and thus pays a net amount on which tax relief is obtained. If the recipient is a registered charity the payer can obtain tax relief up to his/her higher rate whilst the charity can claim back the amount deducted.In other words, it is a tax effective way for individuals to give to charity. Further SuggestionsRestrictive covenantsPositive covenant (of a bond) Affirmative covenant Covenants Breach of covenant CC and Rs (Covenants, Conditions and Restrictions) |
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