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.
A term defined in the Code and generally meaning, depending on the context, the dollar price at which a maturity of a bond issue or all of the bond issue was offered to the public by the underwriter.
