Negative pledge clause definitions

Negative pledge clause

A protective covenant whereby the borrower agrees not to allow a lien on any of its assets.
Found on http://wps.pearsoned.co.uk/wps/media/objects/1669/1709588/glossary/glossary

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Negative pledge clause

A bond covenant that requires the borrower to grant lenders a lien equivalent to any liens that may be granted in the future to any other currently unsecured lenders.
Found on http://www.duke.edu/~charvey/Classes/wpg/bfglosn.htm

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Negative pledge clause

A bond covenant that requires the borrower to grant lenders a lien equivalent to any liens that may be granted in the future to any other currently unsecured lenders.
Found on http://www.encyclo.co.uk/local/20047

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Negative Pledge Clause

A bond covenant that requires the borrower to grant lenders a lien equivalent to any liens that may
Found on http://www.encyclo.co.uk/local/22402

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