247) The most popular affirmative covenant
nowadays is an obligation to pay homeowners association fees to fund the maintenance of common premises.
The new agreement provides for changes to specific terms of each of the loan facilities as well as to the affirmative covenants
Retirement plan-related contract provisions include sellers' representations, affirmative covenants
, negative covenants and, perhaps, indemnification-meaning the seller promises to pay for any loss or damages if a problem is found with a benefit plan.
require the borrower to do something, such as periodically submit financial statements or make interest payments in a timely manner.
The supplemental indenture eliminated substantially all of the restrictive covenants, certain affirmative covenants
, certain events of default and certain conditions to legal defeasance or covenant defeasance contained in the indenture governing the Notes.
They can take the form of affirmative covenants
, in which a borrower agrees to keep promises such as producing sufficient cash flow to repay the debt, with an adequate cushion, and supplying financial information.
early-twentieth-century courts to enforce affirmative covenants
More often, the parties will allocate environmental liabilities through a combination of price reductions, property carve-outs, affirmative covenants
, indemnifications, escrows and insurance.
The proposed amendments to the indenture governing the notes would eliminate substantially all of the restrictive covenants, certain affirmative covenants
, certain events of default and certain conditions to legal defeasance or covenant defeasance contained in the indenture and the Notes.