negative covenant

Technical default occurs when an affirmative or a negative covenant is violated.

A negative covenant is one in which property owners are unable to perform a specific activity, such as block a scenic view.

However, this did not mean that negative covenants are always irremediable covenants.

Negative covenants may be continuous or incurrence-based.

A negative covenant, Mr. Martin said, prevents or restricts a property owner.

For example, he said, a covenant that prohibits a property from being used for commercial purposes would be a negative covenant.

Violations of negative covenants are rare compared to violations of affirmative covenants.

Changes have been recommended by the Law Commission in their tenth report [1984]4 -'The transfer of land-the law of positive and negative covenants'.

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).

Negative covenants are clauses in debt contracts that limit or prohibit corporate actions (e.g. sale of assets, payment of dividends) that could impair the position of creditors.

A John Martin, general counsel for All New York Title Agency in White Plains, said that there are two basic types of covenants: negative covenants and affirmative ones.

In property law, land-related covenants are called "real covenants" and are a major form of covenant, typically imposing restrictions on how the land may be used (negative covenants) or requiring a certain continuing action (affirmative covenant).

To help protect the athletes from retribution by the AAU if the venture failed, O'Hara placed them on negative covenant contracts - here they promised not to run for anyone else rather than to run for the ITA - with the contracts only going into legal effect if the venture took off.