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Also available:
World English Dictionary
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negative covenant
neg·a·tive cov·e·nant
(
plural
neg·a·tive cov·e·nants
)
noun
Definition:
bond prohibition imposed on holder:
a clause in a bond agreement that prevents the borrower from taking particular actions without the bondholders' agreement
Encarta® World English Dictionary [North American Edition] © & (P)2009 Microsoft Corporation. All rights reserved. Developed for Microsoft by Bloomsbury Publishing Plc.
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