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Meaning of negative pledge | Babel Free

Noun CEFR B2

Definitions

A type of loan or loan condition in which the borrower agrees with the lender not to allow any other lender or creditor to rank ahead for payment in the event of a liquidation. Such a loan is unsecured (ie. not backed by a charge over specific assets).

CEFR level

B2
Upper Intermediate
This word is part of the CEFR B2 vocabulary — upper intermediate level.
See all B2 English words →

See also

negative pole negative pregnant negative pressure negative priming negative proof negative raising

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