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Self-handicapping becomes a problem
Principal and Interest
The two components of a loan payment; principal is the original amount borrowed, and interest is the charge for borrowing the principal.
Renegotiate Covenants
The act of revising the terms of a loan or bond agreement, often to relax or tighten restrictions on the borrower.
New Accounting Standard
An updated or new rule set by accounting standards bodies that governs the preparation and reporting of financial statements.
Events of Default
Specific conditions or occurrences that trigger a breach of contractual obligations.
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