Which of the following is not an example of commercial mortgage covenant: If the borrower sells a large portion of its assets, it must notify the lender tens day before the sale. A restriction on the amount of dividends the firm can pay its shareholders The borrower must file periodic GAAP reports with the lenders demonstrating compliance with the loan agreement. The borrower must notify the lender if it becomes involved in a lawsuit.

Which of the following is not an example of commercial mortgage covenant: If the borrower sells a large portion of its assets, it must notify the lender tens day before the sale. A restriction on the amount of dividends the firm can pay its shareholders The borrower must file periodic GAAP reports with the lenders demonstrating compliance with the loan agreement. The borrower must notify the lender if it becomes involved in a lawsuit.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 6TP: When a customer is delinquent on paying a notes receivable, your company has the option to continue...

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