| 释义 |
Limitation on liens Limitation on liensA bond covenant that restricts in some way a firm's ability to grant liens on its assets.Limitation on LiensAn aspect of some bonds in which the issuer is only allowed to grant liens on its assets in certain circumstances. A bond with a limitation on liens generally carries lower risk because, in the event of default, the issuer's assets have fewer liens from secured creditors. This means that the bondholders have a higher priority on the proceeds of liquidation. |