When you are building
your personal loan the covenant section is an excellent way for the lender and borrower to spell out any special rules they must follow.
Not exact matches
Banks and other third - party lenders now often require
personal guarantees of partners or impose restrictive
loan covenants that may be difficult to meet.
Furthermore, in documents filed with the court by the appellant on a summary judgment motion in a related solicitor's negligence action, the appellant expressly acknowledged that he, rather than the trust, was the legal owner of the mortgaged property and that the relevant mortgage documents contained his
personal covenant to repay the mortgage
loan.