The institution of money encompasses many formal organizations, including banks and government treasury departments and stock exchanges, which may be termed, institutions, as well as subjective experiences, which guide people in their pursuit of personal well-being.
A covenant is a type of contract in which the covenantor makes a promise to a covenantee to do (affirmative covenant) or not do some action (negative covenant). In real property law, the term real covenants is used for conditions tied to the use of land.
Definition of Protective covenant. A part of the indenture or loan agreement that limits certain actions a company takes. during the term of the loan to protect the lender's interests. Restriction on a firm to protect bondholders. A bond covenant that specifies certain actions the firm must take. A contractual provision in a bond indenture. A positive covenant requires certain actions, and. a negative covenant limits certain actions.