All of the following are examples of affirmative covenants except for
a. The borrowing firm must carry sufficient insurance to cover insurable business risks
b. The borrower must maintain a minimum amount of net working capital
c. The borrower must retain key management personnel acceptable to the lending institution.
d. The borrower is required to obtain the lender's approval before certain assets can be sold.
Select one and explain
d. The borrower is... View the full answer