Restrictive Covenant

Business / Human Resources (HR) / Restrictive Covenant: A contract clause requiring executives or other highly skilled employees to refrain from seeking and obtaining employment with competitor organizations in a specific geographical region and for a specified period of time.

Positive Covenant (Of A Bond)

Business / Finance / Positive Covenant (Of A Bond): A bond covenant that specifies certain actions the firm must take. Also called an affirmative covenant. MORE

Negative Covenants

Business / Loan / Negative Covenants: Statements of actions or events of the borrower must prevent from occurring or existing, for example, additional borrowing without the lender's consent. MORE

Negative Covenant

Business / Finance / Negative Covenant: A bond covenant that limits or prohibits certain actions unless the bondholders agree. MORE

Protective Covenant

Business / Finance / 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. MORE

Rate Covenant

Business / Finance / Rate Covenant: A provision governing a municipal revenue project financed by a revenue bond issue, which establishes the rates to be charged users of the new facility. MORE

Restrictive Endorsement

Business / Finance / Restrictive Endorsement: An endorsement signature on the back of a check that specifies the conditions under which the check can be transferred or paid out. MORE

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