Negative covenant: Difference between revisions
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imported>Doug Williamson (Create the page. Source: ICM Reading 13.11.1 page 13.19, for April 2014 exam season.) |
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Revision as of 16:51, 4 December 2013
A covenant requiring a party to refrain from taking certain actions.
For example, a borrower's covenant not to grant security over assets in favour of other lenders.