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.
Statute passed in the wake of the 2008-2009 financial meltdown that enacted sweeping changes in the regulation of financial institutions, municipal advisors, and the financial markets.
