Affirmative covenants generally would NOT include which of the following stipulations?

a. The lender has the right to inspect business assets and business contract

b. Limits on the borrower's total indebtedness

c. The borrower must maintain insurance on business properties

d. Specific financial convenants and reporting requirements

Debt covenants benefit:

a. lenders

b. borrowers

c. both lenders and borrowers

d. neither borrowers nor lenders, but are required by the SEC as a condition of issuing debt securities

Covenants that place direct restrictions on managerial decisions are called:

a. affirmative restrictions

b. affirmative covenants

c. negative restrictions

d. negative covenants