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A loan covenant is a condition in a commercial loan or bond issue that ... Typical covenants for real estate related ... affirmative, negative or positive covenants ...
The covenant may be negative or affirmative. A negative covenant is one in which property owners are unable to perform a specific activity, such as block a scenic view. An affirmative covenant is one in which property owners must actively perform a specific activity, such as keeping the lawn tidy or paying homeowner's association dues for the ...
Negative covenants may be continuous or incurrence-based. Violations of negative covenants are rare compared to violations of affirmative covenants. With most debt (including corporate debt, mortgages and bank loans) a covenant is included in the debt contract which states that the total amount owed becomes immediately payable on the first ...
An action to enforce townhome covenants is, in fact, a legal or equitable action on a contract or written instrument—and so any enforcement action must be brought within five years.
In Australia, negative pledge lending took off after a substantial deal by Pioneer Concrete in 1978. [1] It was a new way of lending, which allowed the banks to lend to corporations, something previously the domain of life insurers. Negative pledge clauses are almost universal in modern unsecured commercial loan documents.
4 tips for investing in zero-coupon bonds. Consider your financial goals. The biggest thing to remember about zero-coupon bonds is that they’re intended to be long-term investments that don’t ...
An affirmative easement is the right to use another property for a specific purpose while a negative easement is the right to prevent another from performing an otherwise lawful activity on their own property. For example, an affirmative easement might allow land owner A to drive their cattle over the land of B. A has an affirmative easement ...
While affirmative covenants to pay money historically violated the touch and concern doctrine, [171] as long as the servitude is "beneficial to the owner of the land whoever it might be, reasonably relates to the property, is legally justified, and concerns the property", [172] it will be enforced, even when the servitude is an affirmative ...