Negative covenants may be continuous or incurrence-based.
From the en.wikipedia.org
Financial accounts, which show the net acquisition of financial assets and the net incurrence of liabilities.
From the en.wikipedia.org
We need to stop borrowing to pay for programs that we do not have the funds for since the incurrence of interest associated with the borrowing is only digging a deeper hole of debt for our state.
From the dailyherald.com
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The act of incurring (making yourself subject to something undesirable)