A loan covenant is a condition or restriction imposed by a lender that the borrower must comply with during the loan period. Examples include maintaining certain financial ratios, limiting additional borrowing, or providing regular financial information. Breach of a covenant can trigger penalties, renegotiation, or even early repayment demands.
Lump-Sum Purchase
A lump-sum purchase is the purchase of multiple assets together for one combined price rather than separate prices for each item. In accounting, the...
Loss Ratio
Loss ratio is a metric commonly used in insurance and risk analysis that compares losses incurred to the premiums earned or revenue generated. It...
Loss Contingency
A loss contingency is a possible loss arising from an uncertain future event, such as a court case, guarantee, or dispute. Depending on the...
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