COVENANT Definition

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COVENANT is a clause in a contract that requires one party to do, or refrain from doing, certain things. It is usually a restriction on a borrower imposed by a lender.

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CATS is Certificate of Accrual on Treasury Securities; a zero ­coupon bond created by stripping Treasury bonds.

OBJECT COST is the total cost of producing an item: direct cost (labor & material) + overhead cost = Total Object Cost.

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