LISTED BOND Definition

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LISTED BOND is a bond traded on a major exchange.

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LOAN COVENANT is a legally enforceable promise or restriction in a mortgage. For example, the borrower may covenant to keep the property in good repair and adequately insured against fire and other casualties. A breach of covenant in a mortgage usually creates a default, defined by the mortgage, and can be the basis for foreclosure.

MAJORITY INTEREST is an ownership interest greater than fifty percent (50%) of the voting interest in a business enterprise.

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