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Investments glossary

Covenant

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Quotes of the day:

A lot of other countries have central government systems that buy drugs for other people. That can reduce the fluctuations.

— Aaron Kesselheim

In legal and financial terminology, a covenant is a promise in an indenture, or any other formal debt agreement, that certain activities will or will not be carried out or that certain thresholds will be met. Covenants in finance most often relate to terms in a financial contract, such as a loan document or bond issue stating the limits at which the borrower can further lend.



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