negative pledge (English, noun)
expansion: negative pledge (plural negative pledges)
Senses:
topics: business
finance
glosses: A type of loan or loan condition in which the borrower agrees with the lender not to allow any other lender or creditor to rank ahead for payment in the event of a liquidation. Such a loan is unsecured (ie. not backed by a charge over specific assets).
Forms:
form: negative pledges
tags: plural