Negative Pledge Agreement
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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.
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Additional Information
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Comment
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Description
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Editorial Note
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Identifier
N/A
Deprecated
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Source and Origin
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