Loan covenant
A promise or financial condition in a loan agreement that the borrower must comply with during the life of the facility.
Related terms
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Loan agreement
The contract setting out the terms of a loan, including amount, repayment, interest, security, covenants and default rights.
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Loan
Money advanced by a lender that must be repaid under agreed terms, usually with interest or fees.
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Facility agreement
The contract setting out the terms of a lending facility, including borrowing limits, interest, repayment, covenants, security and default provisions.
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