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• 12:06, 3 October 2023 Amwelladmin talk contribs created page Template:AI Covenant to pay (Created page with "A covenant to pay clause is a common feature in bond trust deeds and other security documents. In the context of a bond trust deed, if a trustee is appointed by the issuer, the undertaking of the issuer to pay interest and to repay principal will be vested in the trustee. The trustee’s role is to act as a fiduciary on behalf of bondholders in accordance with the terms of the trust deed. Common wisdom is that the covenant to pay clause legally binds the issuer to fulf...")