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The lender required a negative pledge in the loan agreement to ensure no other creditor could obtain priority over repayment if the company were liquidated.
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The lender required a negative pledge in the loan agreement to ensure no other creditor could obtain priority over repayment if the company were liquidated.
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Related words
negative pledge
Noun
Japanese Meaning
（金融）借り手が、破産や清算時に他の貸し手や債権者に対して優先的な支払い順位を認めないことを約束する契約条項。具体的には、無担保融資において、この条項により、他の債権者に対して劣後する形となる。
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