Pledge

Last Updated: Jun 7, 2019

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A delivery of assets to a creditor as security for some debt or any other obligation.  May include a written agreement and recurring reports such as Borrowing Base Forms. 

In context of a Borrowing Base, a pledge is often called an "Assignment".  Since lines of credit go up with billings and down with payments, new billings are "pledged" (assigned) on a borrowing base, which is generally signed to attest to the authenticity and accuracy of the information submitted.