Corporate Finance by Ross Stephen A. & Westerfield Randolph W & Jordan Bradford D

Corporate Finance by Ross Stephen A. & Westerfield Randolph W & Jordan Bradford D

Author:Ross, Stephen A. & Westerfield, Randolph W & Jordan, Bradford D [Ross, Stephen A.]
Language: eng
Format: mobi
Publisher: Business And Economics
Published: 2009-10-08T16:00:00+00:00


The firm may not pledge any of its assets to other lenders.

The firm may not merge with another firm.

The firm may not sell or lease its major assets without approval by the lender.

The firm may not issue additional long-term debt.

A positive covenant specifies an action that the company agrees to take or a condition the company must abide by. Here are some examples:

The company agrees to maintain its working capital at a minimum level.

The company must furnish periodic financial statements to the lender.



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