negative pledge

名词 n.
中文释义

英文释义

名词 n.
  1. 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).

词形变化

negative pledges plural

词源

The idea (and hence presumably the name) developed in the United States, and then went global. (Reference: Trevor Sykes, The Bold Riders, second edition, 1996, →ISBN, page 8.)
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