Harmless Warrants, a bond provision, provides bondholders with the option to relinquish their bond, on the condition that the borrower must acquire another bond with identical characteristics from the same company. This provision serves as a safeguard for bondholders, ensuring that they are not left without a bond in the event of a borrower default. It also benefits the borrower by giving them the opportunity to maintain their financial standing with the bondholder.
