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With a contract, if one agreeing party does something in violation of the contract then it is considered broken. The whole contract becomes null and void. Basically the signers of a contract agree to hold up their ends as long as the other signatories hold up theirs too.
With a covenant, both parties agree to hold up their ends regardless of whether the other party keeps their part of the agreement. A violation of a covenant by one party doesn’t matter as far as the other party’s responsibility to continue to do what they agreed to do.