http://www.btb.termiumplus.gc.ca/tpv2alpha/alpha-fra.html?la... :

cushion (in FINANCE): coussin de sécurité

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Grand Robert & Collins:

covenant ['kʌvɪnənt] → synonyms
1 noun
[in general] ▶ convention f, ▶ engagement m formel
Brit /Finance/ ▶ engagement m contractuel
/Jewish Hist/ ▶ alliance f
■ the Covenant (Scot /History/) : le Covenant (de 1638)
See: deed
2 transitive verb
▶ s'engager (to do [something] : à faire [quelque chose]), ▶ convenir (to do [something] : de faire [quelque chose])
■ to covenant (to pay) £100 per annum to a charity /Finance/ : s'engager par contrat à verser 100 livres par an à une œuvre
3 intransitive verb
▶ convenir (with [somebody] for [something] : de [quelque chose] avec [quelqu'un])

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Synonymes:
covenant
▶ n.
1. arrangement, bargain, commitment, compact, concordat, contract, convention, pact, promise, stipulation, treaty, trust.
2. bond, deed.

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http://www.businessdictionary.com/definition/covenant.html :

covenant

Definitions (2)

1. Written, solemn, and *binding agreement*.

2. *Binding promise* explicitly or implicitly stipulated in a deed or contract (a loan agreement, for example), by a covenantee (a lender, for example), which the covenanter (a borrower, for example) must agree to (otherwise there is no agreement or deal).

Once agreed to, the covenant is usually enforceable even if it is unwarranted and/or is unsupported by a consideration. A covenant need not be explicit if its implication is necessary to carry out the intention of the explicit covenant(s). Covenants can cover virtually anything; in a loan agreement, for example, covenants can restrict size of a firm's total debt, salaries of managers, and dividends to shareholders. A covenant may be (1) Positive, when it forces an action, (2) Negative, when it restrains or prevents, (3) Independent, when applicable on its own, or (4) Dependent, when its application requires a specific condition to occur.

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http://www.businessdictionary.com/definition/cushion.html :

cushion
Definition

Balance of net cash flow remaining after debt service.

See also soft landing.

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Lots of occurrences of "covenant cushion" in the Web:

http://www.alacrastore.com/research/s-and-p-credit-research-... :

"O'Charley's Inc. Downgraded To 'B-' As Covenant Cushion Tightens"

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http://dictionary.reference.com/browse/covenant?s=t :

cov·e·nant   [kuhv-uh-nuhnt]
noun

1. ***an agreement, usually formal***, between two or more persons to do or not do something specified.

2. Law . an incidental clause in such an agreement.

3. Ecclesiastical . a solemn agreement between the members of a church to act together in harmony with the precepts of the gospel.

4. ( initial capital letter ) History/Historical .
a. National Covenant.
b. Solemn League and Covenant.

5. Bible .

a. the conditional promises made to humanity by God, as revealed in Scripture.

b. the agreement between God and the ancient Israelites, in which God promised to protect them if they kept His law and were faithful to Him.


6. Law .
a. a formal agreement of legal validity, especially one under seal.
b. an early English form of action in suits involving sealed contracts.


7. Covenant of the League of Nations.

verb
8. to enter into a covenant.

verb (used with object)
9. to promise by covenant; pledge.
10. to stipulate.


Origin:
1250–1300; Middle English

< Anglo-French, Old French, noun use of present participle of covenir

< Latin ***convenīre : to come together, agree***; see -ant

Related forms : cov·e·nan·tal  [kuhv-uh-nan-tl], adjective

Synonyms : 1. treaty, pact, convention.

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http://www.wordreference.com/enfr/covenant :


covenant / ˈkʌvənənt/
noun
(agreement) convention f;
(payment agreement) engagement m.

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"coussin" dans http://www.explorersinfinance.ch/en/recherche/glossaire/glos... :

"Pourcentage prédéterminé de perte maximale autorisée pour les investissements à cliquet (dits "garantis").

Partie du portefeuille qui est investie dans des placements à risque et à rendement relativement élevés."

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http://www.gdrc.org/icm/loan-glossary.html :

Covenant

An agreement or promise to do or not to do a particular thing;

to enter into a formal agreement;

a promise incidental to a deed or contract.

The following are functional objectives guiding most covenants:

full disclosure of information, preservation of net worth, maintenance of asset quality, maintenance of adequate cash flow, control of growth, control of management, assurance of legal existence and concept of going concern, provision for lender profit or program goals.

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I have checked in most of the 26 first dictionaries/glossaries in LEXICOOL: http://www.lexicool.com/online-dictionary.asp?FSP=A09B12C092... There is a total of 128 free online dictionaries/glossaries about business/finance...