Negative Pledge Agreement - FOLIO Ontology

Identification

IRI:

https://folio.openlegalstandard.org/RD0k9FMiaDhDD2ymOcxvUMP

Label Negative Pledge Agreement

Preferred Label N/A

Identifier N/A

Alternative Labels

None

Definition

A "Negative Pledge Agreement" is a contractual clause or standalone agreement where a debtor promises not to encumber assets with liens, or offer them as collateral, without the consent of a specific creditor. This agreement aims to protect the unsecured creditor's interests by limiting the debtor's ability to further secure its assets to other creditors.

Class Relationships

Sub Class Of

• Debt Supplemental Agreement

Is Defined By

N/A

Class Hierarchy Visualization

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Additional Information

Metadata

Comment

None

Description

None

Notes

• None

Editorial Information

History Note

None

Editorial Note

None

Deprecated

No

Source and Origin

No source or origin information available