A Clause That Requires the Borrower to Maintain a Minimum

question 82

Multiple Choice

A clause that requires the borrower to maintain a minimum level of working capital until the loan is repaid is known as ______.

• A) covenants
• B) assurances
• C) endorsements
• D) guarantors

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Definitions:

Considering Alternatives

The act of evaluating different options or approaches before making a decision or judgment.

Recipients

Individuals or groups that receive something from a giver, often referring to the receiving end in a transaction or communication.

Improvement Goals

are objectives set to enhance the effectiveness, efficiency, productivity, or quality in personal or professional areas.

Recognized

Identified or acknowledged for one's achievements, qualities, or status.