Bond contracts generally include restrictive covenants, designed to protect the interests of the bondholders.Typical covenants restrict all of the following EXCEPT:

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Restrictive covenants in bond contracts are primarily focused on the financial and operational aspects that directly impact the firm's ability to meet its debt obligations, such as investment activities, issuance of additional debt, and dividend policies. They typically do not extend to the specifics of the firm's hiring of management personnel, as this is considered an internal operational decision less directly related to the financial health and obligations of the company.

Bond Contracts Generally Include Restrictive Covenants, Designed to Protect the Interests