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A protective covenant: protects the borrower from unscrupulous practices by the lender. is designed to protect the bond dealer from potential legal liability related to the bond issue. prevents a bond from being called. limits the actions of the borrower. guarantees that a bond will be repaid in full with interest.

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14-08-2022

A protective covenant: limits the actions of the borrower

What is the meaning of protective covenants?

Protective covenant. A part of an indenture or loan agreement that limits certain actions a company may take during the term of the loan to protect the lender's interests.

What are protective covenants in bonds?

Bond covenants are designed to protect the interests of both parties. Negative or restrictive covenants forbid the issuer from undertaking certain activities; positive or affirmative covenants require the issuer to meet specific requirements.

What are the two types of protective covenants?

There are two types of restrictive covenants:

affirmative and negative.

Learn more about protective covenants:

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