TECO decodes its commands with a built-in command decoder.  If TECO
  finds the logical name TEC$INIT, its equivalence string is assumed
  to be either a TECO macro or, if the string starts with a dollar
  sign ($), the rest of the string is assumed to be a file-spec
  containing a TECO macro to be executed every start up.  To disable
  the lookup of TEC$INIT, the qualifier /NOINI can be used.