Printer Friendly
Dictionary, Encyclopedia and Thesaurus - The Free Dictionary
3,915,212,480 visitors served.
forum Join the Word of the Day Mailing List For webmasters
?
Dictionary/
thesaurus
Medical
dictionary
Legal
dictionary
Financial
dictionary
Acronyms
 
Idioms
Encyclopedia
Wikipedia
encyclopedia
?

restrictive covenant
(redirected from Negative Covenants)

   Also found in: Dictionary/thesaurus, Medical, Legal, Financial, Wikipedia 0.01 sec.

restrictive covenant

In property law, an agreement acknowledged in a deed or lease that restricts the free use or occupancy of property, such as by forbidding commercial use or certain types of structures. The restrictive covenant is as old as the law of property, being well-established in Roman law. The term is also used in business law to refer to an agreement whereby one party promises not to engage in the same business or a similar business in a particular area for a period of time.


restrictive covenant
An agreement between two or more individuals, incorporated within a deed which stipulates how land may be used. The constraints may include: the specific use to which a property can be put, the location and dimensions of fences, the setback of buildings from the street, the size of yards, the type of architecture, the cost of the house, etc. Racial and religious restrictions on inhabitants are legally unenforceable.


Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content.
?Page tools
Printer friendly
Cite / link
Feedback
Mentioned in?  References in periodicals archive?   Encyclopedia browser?   Full browser?
No references found
 
In addition, the Facility contains customary negative covenants applicable to the Company and its subsidiaries, including negative covenants that restrict the ability of such entities to, among other things, (i) incur additional indebtedness, (ii) allow certain liens to attach to such entities' assets, and (iii) pay dividends or make certain other restricted payments.
People think compliance is mostly financials compliance and a couple of very big negatives," says Jim Simpson, managing partner of Corporate Finance Solutions, citing negative covenants such as restrictions on asset sales or mergers.
The facility contains customary representations and warranties, and affirmative and negative covenants.
 
 
 
Encyclopedia
?

Terms of Use | Privacy policy | Feedback | Advertise with Us | Copyright © 2012 Farlex, Inc.
Disclaimer
All content on this website, including dictionary, thesaurus, literature, geography, and other reference data is for informational purposes only. This information should not be considered complete, up to date, and is not intended to be used in place of a visit, consultation, or advice of a legal, medical, or any other professional.