Banking & Finance Glossary—M
Banking & Finance Glossary—M

The following Banking & Finance guidance note provides comprehensive and up to date legal information covering:

  • Banking & Finance Glossary—M
  • Maintenance covenant
  • Mandate
  • Mandatory costs
  • Margin
  • Market flex
  • Margin ratchet
  • Mark-to-market
  • Maturity
  • MBI (management buy-in)
  • more

Maintenance covenant

Type of covenant which is tested on a regular basis; contrasts with an incurrence covenant where compliance is only tested when the borrower wishes to take a specific action

Lexis®PSL resources

Financial covenants—principles


The authorisation given by the borrower to the arranger or lead manager of a transaction to carry it out on the agreed terms

Mandatory costs

The cost to a lender of complying with regulatory liquidity requirements and regulator fees

Lexis®PSL resources

Interest—funding rates and margin