An agreed action to be undertaken ( Positive) or not done ( Negative). A breach of a covenant is a default. Bloomberg Financial Dictionary
A stipulation in a loan agreement which restricts the borrower's freedom of action while the loan is outstanding. Designed to protect the interests of the lender. Dresdner Kleinwort Wasserstein financial glossary

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covenant cov‧e‧nant [ˈkʌvnənt] noun
[countable, uncountable] LAW a formal written agreement to do something or not to do something, or to pay an amount of money:

• We are tied by a covenant which prohibits the stadium from being put to any other use.

• The covenant to pay the rent on the due date is absolutely fundamental.

• Under this ruling, the landlord would not have a claim against the tenant for breach of covenant (= breaking the agreement ) .

— see also deed of covenant
reˌstrictive ˈcovenant [countable] LAW
a covenant where someone agrees not to do certain things:

• Restrictive covenants are the most common legal restriction imposed on the purchaser.

— covenant verb [intransitive, transitive] :

• All the agency's profits are covenanted to third world charities.

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   A promise in a formal agreement that some activity will or will not be carried out. In a debt agreement a breach of covenant may mean that the whole debt is immediately due. Covenants can cover issues as varied as dividend payments, gearing ratios or the amount of working capital.

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covenant UK US /ˈkʌvənənt/ noun [C or U]
LAW a part of a formal written agreement in which it is stated what must or must not be done, or in which someone promises to do or pay something: »

The lease contains a covenant that no animals can be kept on the property.


Any loss of rent may be claimed as damages for breach of covenant (= failure to do as promised).

See also DEED OF COVENANT(Cf. ↑deed of covenant), RESTRICTIVE COVENANT(Cf. ↑restrictive covenant), RESTRICTIVE COVENANT(Cf. ↑restrictive covenant)
covenant UK US /ˈkʌvənənt/ verb [I]
LAW to officially agree to do or not do something: »

If business premises suffer serious fire damage the landlord usually covenants to reinstate the premises.

Financial and business terms. 2012.

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Look at other dictionaries:

  • Covenant — Saltar a navegación, búsqueda Este artículo trata sobre el Universo de Halo. Para la agrupación musical, véase Covenant (Banda). Contenido 1 Historia 1.1 Odio al Homo sapiens …   Wikipedia Español

  • covenant — cov·e·nant / kə və nənt/ n 1: an official agreement or compact an international covenant on human rights 2 a: a contract in its entirety or a promise within a contract for the performance or nonperformance of a particular act a covenant not to… …   Law dictionary

  • COVENANT — COVENANT, a general obligation concerning two parties. It was confirmed either by an oath (Gen. 21:22ff.; 26:26ff.; Deut. 29:9ff.; Josh. 9:15–20; II Kings 11:4; Ezek. 16:8; 17:33ff.), by a solemn meal (Gen. 26:30; 31:54; Ex. 24:11; II Sam. 2:20) …   Encyclopedia of Judaism

  • COVENANT — COVENA Terme désignant une forme typique de la vie politique et religieuse écossaise qui réapparut dans la première moitié du XVIIe siècle, alors que l’engagement pris par les nobles écossais en 1557 en l’absence de John Knox et en un temps où la …   Encyclopédie Universelle

  • Covenant — Cov e*nant (k?v ? nant), n. [OF. covenant, fr. F. & OF. convenir to agree, L. convenire. See {Convene}.] [1913 Webster] 1. A mutual agreement of two or more persons or parties, or one of the stipulations in such an agreement. [1913 Webster] Then… …   The Collaborative International Dictionary of English

  • covenant — [kuv′ə nənt] n. [OFr, agreement, orig., prp. of covenir < L convenire: see CONVENE] 1. a binding and solemn agreement to do or keep from doing a specified thing; compact 2. an agreement among members of a church to defend and maintain its… …   English World dictionary

  • Covenant — Cov e*nant, v. t. To grant or promise by covenant. [1913 Webster] My covenant of peace that I covenanted with you. Wyclif. [1913 Webster] …   The Collaborative International Dictionary of English

  • Covenant —   [ kʌvənənt; englisch »Bund«, zu lateinisch convenire »zusammenkommen«] der, s/ s,    1) ohne Plural, in den evangelischen ref. Kirchen auf das Alte Testament zurückgreifende theologische Beschreibung des Verhältnisses zwischen Gott und den… …   Universal-Lexikon

  • covenant — c.1300, from O.Fr. covenant agreement, originally prp. of covenir agree, meet, from L. convenire come together (see CONVENE (Cf. convene)). Applied in Scripture to God s arrangements with man, as a translation of L. testamentum, Gk. diatheke,… …   Etymology dictionary

  • Covenant — Allgemeine Informationen Genre(s) Elektro, Future Pop Gründung 1986 Website http://w …   Deutsch Wikipedia

  • covenant — s. m. Na Escócia, associação formada com vista a uma ação comum. (O covenant mais célebre foi o de 1638, que se opôs à introdução do anglicanismo na Escócia.) • Plural: covenants.   ‣ Etimologia: palavra inglesa que significa pacto …   Dicionário da Língua Portuguesa

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