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Affirmative covenants enumerate what issuers are required to do, whereas negative covenants specify what issuers are prohibited from doing.
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Covenants
3.1.5. Covenants Bond covenants are legally enforceable rules that borrowers and lenders agree on at the time of a new bond issue. An indenture will frequently include affirmative (or positive) and negative covenants. Affirmative covenants enumerate what issuers are required to do, whereas negative covenants specify what issuers are prohibited from doing. <body><html>


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