negative pledge in English
promise not to mortgage property
Use "negative pledge" in a sentence
Below are sample sentences containing the word "negative pledge" from the English Dictionary. We can refer to these sentence patterns for sentences in case of finding sample sentences with the word "negative pledge", or refer to the context using the word "negative pledge" in the English Dictionary.
1. The covenants clause is composed of sub-clauses such as negative pledge, pari passu, financial covenant and so on.
2. Negative Pledge Clause A negative covenant in an indenture, it states that the corporation will not pledge any of its assets if doing so would give the lenders less security.
3. This clause is the combination of negative pledge and pari passu clause. It insures that the lender has the priority second to no other secured creditor and non-secured creditor to gather repayment.