Business, Legal & Accounting Glossary
A type of positive contract or promise that will require one party to do something specific, such as a bond covenant that states that the issuer of that bond shall maintain sufficient or adequate levels of insurance or will deliver audited financial statements. Can be compared with negative or restrictive covenants that require a party not to do something.
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Definitions for Affirmative Covenant are sourced/syndicated and enhanced from:
This glossary post was last updated: 20th November, 2021 | 0 Views.