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Explain Time Utility and Its Importance in the Global Markets

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Explain time utility and its importance in the global markets.


Definitions:

Protective Covenants

Provisions or clauses in a debt agreement that limit certain actions of the borrower to protect the lenders' interests.

Indirect Bankruptcy Costs

Expenses that are not directly tied to the bankruptcy filing process but arise as a result of the company's financial distress, such as lost sales or reduced creditworthiness.

Financial Distress

A scenario in which a business is unable or struggles to fulfill its financial commitments to its lenders.

Financial Distress Costs

Expenses associated with a company’s financial distress, including bankruptcy costs, legal fees, and lost revenues.

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