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A loan covenant is a condition in a commercial loan or bond issue that requires the borrower to fulfill certain conditions or which forbids the borrower from undertaking certain actions, or which possibly restricts certain activities to circumstances when other conditions are met.
Restrictive covenants have a complex and sordid history. From the 1920s to the 1960s, racially restrictive covenants became a common tool to prevent racial, ethnic and religious minorities from ...
In property law, land-related covenants are called "real covenants", " covenants, conditions and restrictions " (CCRs) or "deed restrictions" and are a major form of covenant, typically imposing restrictions on how the land may be used (negative covenants) or requiring a certain continuing action (affirmative covenant).
Shelley v. Kraemer, 334 U.S. 1 (1948), is a landmark [1] United States Supreme Court case that held that racially restrictive housing covenants (deed restrictions) cannot legally be enforced.
Davidson Bros., Inc. v. D. Katz & Sons, Inc., 643 A.2d 642 (App. Div. 1994), was a case decided by the Appellate Division of the Superior Court of New Jersey that first applied public policy considerations instead of the touch and concern doctrine when deciding the validity of a restrictive covenant.
To mitigate risk for noteholders, companies with low credit ratings that issue bonds must operate within a set of covenants that restrict the issuer's ability to take on further risk. Many of the covenants relate to the company incurring additional debt, but some covenants address changing ownership structure, paying dividends , or selling off ...
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 ...
The Court held that racially restrictive covenants, which it had found unconstitutional in Shelley v. Kraemer, could not be "enforced at law by a suit for damages against a co-covenantor who allegedly broke the covenant." Barrows had been awarded damages when she sued Jackson for violation of a restrictive covenant that barred the sale of ...