Covenant Against Encumbrances

Business / Real Estate / Covenant Against Encumbrances: The grantor warrants that the property is free from liens or encumbrances, except for any specifically stated in the deed. Encumbrances generally include mortgages, mechanics liens and easements. If this covenant is breached, the grantee may sue for the cost of removing the encumbrances.

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

Goals Against Average

Entertainment / Ice Hockey / Goals Against Average: The average number of goals given up per 60-minute game by a goaltender or a team within a given period of time. The average is computed by dividing goals against by minutes played and multiplying the 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

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