But with sovereign debt, such bonds are not apt to have many of those covenants anyway.
In the past lenders often insisted on financial covenants when companies took out loans; breach of those covenants gave the lenders the right to take action.
A spokesman for the company, James Fisher, said Sprint expected to meet loan provisions and to meet those covenants.
Those covenants began expiring this year, yet, to the frustration of residents across the city, thousands of properties have not shown any sign of rebuilding progress.
If it missed those covenants, the federal Air Transportation Stabilization Board would be able to call the remaining portion of its $900 million loan "immediately," the report said.
Those covenants required Qwest to earn enough that debts did not exceed 4.25 times Ebitda in the current quarter or 4 times Ebitda by the end of the year.
We know how effective those covenants, whatever they are, have been, at binding the American government's behaviour, but that is apparently what we have to fear if we fail to oppose the spreading tyranny of bike paths.Cut through the nonsense and we are left with two questions.
If he fails to make good those covenants, which could be breached as early as March, Citigroup will take control of EMI and sell it to a rival music group such as Warner Music of the US, which has long coveted the British label.
Those covenants can still enforced by the homeowners' association, which in 1988 stopped a builder from replacing a single-family house on 158th Street with two attached three-family houses by successfully arguing in court that the plans, though permitted by city zoning, violated the property's deed restrictions.
