Negative pledge: Difference between revisions
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Amwelladmin (talk | contribs) (Created page with "{{g}}An agreement with one lender not to pledge security in favour of another one. A rather bankery thing, much more fashionable in the olden days than now, and probably the g...") |
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Revision as of 10:55, 1 July 2019
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An agreement with one lender not to pledge security in favour of another one. A rather bankery thing, much more fashionable in the olden days than now, and probably the genesis of the curious No event of default or potential event of default representation we all know, love and routinely pass over when perusing our counterparty’s early draft.