| 单词 | covenant |
| 释义 | covenant covenant // noun, verb
■ noun
RESTRICTIVE COVENANT
1 (Law ) [C,U] a promise that is part of a formal written contract (a deed) to take particular actions or avoid particular situations: The lease contains a covenant given by the tenant to maintain the property. They have committed a serious breach of covenant. a covenant given by the seller to the purchaser
❖ to breach/enforce/give/perform/relax a covenant
2 (Finance ) [C] a written promise to take particular actions or avoid particular situations which is made by sb borrowing money, so that the lender knows that the loan will be paid back: The covenants require the company to keep a certain ratio between debt and earnings. The company is in danger of breaching its banking covenants.
a bank/banking/debt/financial/loan covenant ◆ to breach/maintain/negotiate a covenant
■ verb [no obj]
(Law ) to promise sth in a formal written contract: Under the agreement, they covenanted to repay the loan over two years. ‘The landlord hereby covenants with the tenant as follows: ... ' |
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