Negative Pledge Clause A negative covenant in an indenture, it states that the corporation will not pledge any of its assets if doing so would give the lenders less security.

负抵押条款契约中的负面条款，声明若资产抵押会减少贷款方抵押价值，则借贷方不可进行这项抵押。

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The covenants clause is composed of sub-clauses such as negative pledge, pari passu, financial covenant and so on.

＂约定事项＂包括众多分条款，如消极担保、比例平等、财务约定事项等。

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