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10:02 Dec 18, 2001
English to French translations [PRO] Bus/Financial
English term or phrase:close to its covenants
Given the increase of the debt compared to the equity, the company is close to its covenants and it is essential that convenants be re-negociated.
Explanation: Convenant = an undertaking, which can be positive or restrictive, under UK law.
Restrictive covenant = an obligation restricting the rights of the person agreeing to be bound by it. A contractual undertaking not to do something.
Positive covenant = an obligation imposed upon the party agreeing to be bound by it to do something specific.
Votre original "close to its covenants" est bizarre, ou peut-être c'est moi, mais j'ai quand même l'habitude avec ce genre de doc... Je le comprends ainsi, surtout en vue de ce qui suit (renégociation). La société frôle le non-respect de ses obligations contractuelles. On leur donne une (dernière?!) chance, la possibilité de les renégocier.