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Protective covenant

• A part of the indenture or loan agreement that limits certain actions a company takes during the term of the loan to protect the lender's interests.

 
 Embedded terms in definition
 Indenture
 
 Related Terms
 Affirmative covenant
Bond covenant
Negative covenant
Positive covenant of a bond
Protective put buying strategy

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Who controls the past controls the future. Who controls the present controls the past. -George Orwell

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