negative covenant
A covenant that requires a party to refrain from doing something; esp., in a real-estate fi-nancing transaction, the borrower’s promise to the lender not to encumber or transfer the real estate as long as the loan remains unpaid.
negative covenant
negative covenant
negative covenant 禁止合同；禁止条款 １指该合同或条款要求一方当事人不得从事某些行为。尤指不动产筹资中，借方向贷方允诺，在贷款未还清前，不对不动产设置负担或进行转让；２指僱佣或商业买卖合同中，禁止僱员或出卖人在同一地区或市场进行竞争的条款，这种禁止在期限和范围方面都必须是合理的。