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Negativerklärung

English translation: Negative covenant

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
German term or phrase:Negativerklärung
English translation:Negative covenant
Entered by: Sonia Rowland
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07:17 Oct 21, 2001
German to English translations [PRO]
Bus/Financial
German term or phrase: Negativerklärung
It's to do with loan agreements between banks
Sonia Rowland
Local time: 12:59
nagative covenant
Explanation:
also called a "Negativklausel", that is a borrower's undertaking not to raise any other loans with orther banks, or to furnish collateral to other creditors, without the written consent of the lending bank
Selected response from:

Alexander Schleber
Belgium
Local time: 12:59
Grading comment
Thanks to John and Alexander! Shame I can't give points to both of you but consider yourselves equally appreciated!
Great explanation, too!
Sonia.
4 KudoZ points were awarded for this answer

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Summary of answers provided
4negative pledge, negative clause
Vesna Zivcic
4negative covenantJohn Schweinsberg
4nagative covenant
Alexander Schleber
4negative declaration
Kim Metzger


  

Answers


15 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
negative declaration


Explanation:
Not sure what a negative declaration is, but that's the translation.

Kim Metzger
Mexico
Local time: 05:59
Native speaker of: Native in EnglishEnglish
PRO pts in pair: 21844
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20 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
nagative covenant


Explanation:
also called a "Negativklausel", that is a borrower's undertaking not to raise any other loans with orther banks, or to furnish collateral to other creditors, without the written consent of the lending bank

Alexander Schleber
Belgium
Local time: 12:59
Native speaker of: Native in GermanGerman, Native in EnglishEnglish
PRO pts in pair: 2340
Grading comment
Thanks to John and Alexander! Shame I can't give points to both of you but consider yourselves equally appreciated!
Great explanation, too!
Sonia.
Login to enter a peer comment (or grade)

20 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
negative covenant


Explanation:
Zahn's Dictionary of Baning and Stock Trading gives "Negativerklärung" as "negative covenant." It also indicates that it is a synonym for ""Negativeklusel = negative pledge clause" which is defined as:
1 borrower's undertaking not to raise loans with other banks nor to furnish collateral for other creditors without prior written consent by the lending bank;
2 borrower's (issuer's)undertaking not to encumber his/her assets in favor of a third party nor to furnish security or senior-ranking collateral to other creditors as long as he/she has any commitment towards the lending bank.


    Zahn, Dictionary of Banking and Stock Trading
John Schweinsberg
PRO pts in pair: 55
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24 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
negative pledge, negative clause


Explanation:
Negativklausel
Auch: Negativerklärung; engl.: negative pledge, negative clause. Verpflichtung eines Schuldners bei langfristigen Krediten und bei Anleihen gegenüber einem Gläubiger, bestimmte Vermögenswerte - vor allem Grundbesitz - in Zukunft nicht oder nicht höher zu belasten bzw. anderen Gläubigern keine Sicherheiten zu gewähren, ohne die bisherigen Gläubiger daran entsprechend zu beteiligen


    Reference: http://www.gwf.de/service/html/infoservice.asp?file=/service...
Vesna Zivcic
Local time: 12:59
Native speaker of: Croatian
PRO pts in pair: 571
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