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Finance Dictionary and Glossary of Investment Terms
Covenant
Definition 1.
A promise in an indenture, or any other formal debt agreement, that certain activities will or will not be carried out.
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Definition 2.
A clause in a contract that requires one party to do, or refrain from doing, certain things. Often, a restriction on a borrower imposed by a lender. also called covenant. also called restrictive covenant.
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