ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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NEGATIVE PLEDGE CLAUSE Definition
NEGATIVE PLEDGE CLAUSE is a covenant or promise in an indenture agreement that states the corporation will not pledge any of its assets if doing so would result in less security to the debt holders covered under the indenture agreement. Also called covenant of equal coverage.
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EFFECTIVE DATE OF INTEREST is the market rate at time of a debt issue.
DOUBLE RULE is a double line drawn under an amount when the amounts above are totals and no other entries will be made.