Formulation of provisions The important protective covenants* fall into three different categories. o General provisions are used in most loan agreements, which are usually variable to fit the situation o Routine provisions used in most loan agreements, which are usually not variable o Specific provisions that are used according to the situation Restrictions are negotiated between 21-10 the borrower and lender21-10 Formulation of Provisions General provisions are used in most loan agreements, which are usually variable to fit the situation. Routine provisions used in most loan agreements, which are usually not variable. Specific provisions that are used according to the situation. The important protective covenants* fall into three different categories. * Restrictions are negotiated between the borrower and lender