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. The New York Times Financial Glossary

Financial and business terms. 2012.

Look at other dictionaries:

  • Negative Pledge Clause — A negative covenant in an indenture stating that the corporation will not pledge any of its assets if doing so gives the lenders less security. Also be referred to as a covenant of equal coverage . A negative pledge clause is just another way for …   Investment dictionary

  • 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. Bloomberg Financial Dictionary …   Financial and business terms

  • negative pledge clause — Fin a provision in a bond that prohibits the issuer from doing something that would give an advantage to holders of other bonds …   The ultimate business dictionary

  • Negative pledge — Contract law Part o …   Wikipedia

  • negative pledge — A document or a provision in a document in which a borrower agrees not to give any creditor a security interest in identified property owned by the borrower. American Banker Glossary An agreement in which the borrower agrees not to pledge any of… …   Financial and business terms

  • Оговорка об отказе от залога активов — условие облигационного контракта, согласно которому заемщик обязан предоставить кредитору залоговое право, эквивалентное праву на удержание собственности, которое может быть предоставлено в будущем любым другим кредиторам, не имеющим гарантий в… …   Финансовый словарь

  • Negativ-Erklärung — Negative Pledge; Verpflichtung des Kreditnehmers, für andere gegenwärtige oder zukünftige Kreditverbindlichkeiten keine Sicherheiten zu bestellen; i.d.R. verbunden mit einer Pari Passu Clause …   Lexikon der Economics

  • List of law topics (N-R) — NOTOC Law [From Old English lagu something laid down or fixed ; legal comes from Latin legalis , from lex law , statute ( [http://www.etymonline.com/index.php?search=law searchmode=none Law] , Online Etymology Dictionary; [http://www.m… …   Wikipedia

  • Loan agreement — A loan agreement is a contract entered into between which regulates the terms of a loan. Loan agreements usually relate to loans of cash, but market specific contracts are also used to regulate securities lending.Loan agreements are usually in… …   Wikipedia

  • South African contract law — is essentially a modernised version of the Roman Dutch law of contract, [1] which is itself rooted in Roman law. In the broadest definition, a contract is an agreement entered into by two or more parties with the serious intention of creating a… …   Wikipedia

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