Positive covenant

Positive Covenant
A condition applying to land which specifies certain actions to be taken by the owner is called a Positive covenant. An example is maintenance of boundaries.
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Positive covenant (of a bond)
A bond covenant that specifies certain actions the firm must take. Also called an affirmative covenant. ...

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A contractual provision in a bond indenture. A positive covenant requires certain actions, and a negative covenant limits certain actions.
Bond discount
The difference by which a bond's original issue or market price is lower than its face value.

Bond Covenant definition :
A contractual provision in a bond indenture. A positive covenant requires certainactions, and a negative covenantlimits certain actions.
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Covenant: An agreement by a borrower to undertake (a positive covenant) or not to undertake (a negative covenant) a specific action. Breaching a covenant is considered an event of default.

It is common to characterize covenants as either positive or negative covenants.
A positive covenant might require that the debtor maintain a minimum amount of working capital.
A negative covenant might limit dividend payments that may be made.

A positive covenant is one by which the party binds him/herself to do some act or carry his/her rights in relation to the other party, or promises not to do a certain thing.

A property of option-free bonds that the price appreciation for a large downward change in interest rates will be greater (in absolute terms) than the price depreciation for the same downward change in interest rates.
Positive covenant ...

A positive covenant requires certain actions, and a negative covenant limits certain actions. Bond equivalent yield Bond yield calculated on an annual percentage rate method. Differs from annual effective yield.

See also: Bond covenant, Convertible Bond, Funding, Tranche, Fraud