Negative pledge is a provision in a contract which prohibits a party to the contract from creating any security interests over certain property specified in the provision. Negative pledges often appear in security documents, where they operate to prohibit the person who is granting the security interest from creating any other security interests o...
Found on
http://en.wikipedia.org/wiki/Negative_pledge
An agreement in which the borrower agrees not to pledge any of its assets as security and/or not to incur further indebtedness.
Found on
http://www.duke.edu/~charvey/Classes/wpg/bfglosn.htm
A condition of a secured loan or funding agreement that states that its security cannot be pledged to secure another transaction.
Found on
https://www.encyclo.co.uk/local/21466
No exact match found.
