The Following Statement Is Not a Feature of Negative Pledge

question 71

Multiple Choice

The following statement is not a feature of negative pledge lending:

• A)The borrower undertakes not to pledge existing or future assets of the company or group to anyone else without the approval of the lender.
• B)The company may be restricted from increasing its borrowing and total external liabilities beyond a specified proportion of total tangible assets,including overseas assets.
• C)The loan agreement may contain a covenant that restricts the payment of dividends to a specified percentage of each period's profit.
• D)None of the given options.

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