Potboiler company has a lending agreement with its bank that states that the company must maintain stockholders’ equity of at least $500,000. The company will be required to repay its loan balance on demand if that requirement is not met. What term is used to describe this type of requirement in a lending agreement?.

Question

06-10-2022
Business

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Potboiler company has a lending agreement with its bank that states that the company must maintain stockholders’ equity of at least $500,000. The company will be required to repay its loan balance on demand if that requirement is not met. What term is used to describe this type of requirement in a lending agreement?.

Sagot :

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