A promise to set aside, dedicate and use exclusively for specified purposes certain categories of property, generally money or other intangibles.
See Also
A covenant that is the opposite of a pledge – a promise not to pledge property, generally money or other intangibles, to any party other than the issuer, a letter of credit provider or other intended beneficiary of the negative pledge.
Start with the Bond Basics
Hundreds of Terms and Concepts
An investor satisfying the definition promulgated by the SEC in Rule 501 of Regulation D under the 1933 Act.
