If a borrower violates a covenant the lender may:

Name: If a borrower violates a covenant the lender may:
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If a borrower violates a covenant, the lender may choose to demand immediate repayment, waive the violation and continue the loan, or waive the violation but alter the terms of the original debt agreement. The lender's decision depends on the severity of the violation and the lender's relationship with the borrower. Therefore, any of the above options are possible.

If a Borrower Violates a Covenant the Lender May