Negative Pledge Clause Negativverpflichtungsklausel Negative Pledge Clause Cláusula de no gravamen Cláusula de no gravamen Clause de non-cession סעיף התחייבות שלילית नकारात्मक अधिवेशन शर्त ネガティブ・プレッジ・クローズ Cláusula de não-oneração 负面抵押条款 A Negative Pledge Clause is a provision in a contract that prohibits a party from creating any new liens or encumbrances on their assets, which could negatively affect the other party's security interest.