restrictive covenant

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Related to Negative covenant: Negative pledge, Affirmative Covenants

restrictive covenant

n
(Law) law a covenant imposing a restriction on the use of land for the purpose of preserving the enjoyment or value of adjoining land
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References in periodicals archive ?
2 of the Omidyar PDR is in the nature of a negative covenant put into place to protect the interest of Omidyar, as investor.
In addition, the company also announced that it has entered into an amendment to the senior ABL facility, which eliminates, effective 29 August 2013, the company's negative covenant in Section 7.
Besides, the company's ability to borrow under the facility is subject to its ongoing compliance with various customary affirmative and negative covenants.
Nevertheless, negative covenants of the transaction prohibit UniTapah from amending the CA without the prior written consent of the Trustee.
This is to align "the negative covenants in section 7.
Retirement plan-related contract provisions include sellers' representations, affirmative covenants, negative covenants and, perhaps, indemnification-meaning the seller promises to pay for any loss or damages if a problem is found with a benefit plan.