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Loan Covenant

   Also found in: Wikipedia 0.01 sec.
Loan Covenant
A provision in a loan agreement binding the borrower or lender. A loan covenant states what actions the borrower and the lender may or may not take in certain situations. Covenants exist to reduce the risk to all parties to a loan.
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Typical affirmative loan covenants include the requirement to maintain various kinds of hazard insurance such as property and general liability and to maintain "key man" life insurance on certain managers.
Loan covenants tighten up by Lamoreaux, Matthew G. / Journal of Accountancy
Is the movie studio Lions Gate Entertainment using a loan covenant to fend off Icahn?
A HOT WEAPON IN PROXY BATTLES by Ronald Grover / BusinessWeek
Personal guarantees on mortgages, due-on-sale clauses (loan immediately payable if the borrower sells the property), acceleration clause (loan is due if mortgagor violates certain loan covenants, defaults on payment, etc.
Could seller financing be a solution to current log-jam? by Mehra, Shallini / Real Estate Weekly
 
 
 
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