Gross Revenue Pledge
Like most restrictive provisions in a bond indenture, a gross revenue pledge makes the debt issue safer for bondholders. The bondholders do not have to worry about the municipality potentially misusing revenues that should have been used to pay debt~servicing costs. Generally, the added safety created by the gross revenue is a cause for the bond issue to be offered at a lower interest rate.
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Underbooked
Situation in which a new securities issue in the preoffering registration period is failing to attract sufficient interest....
