Carve-out

Documentation and regulation.

A carve-out is a special exception.

A carve-out can be used in the context of a loan agreement; a negative pledge might apply to all but specific subsidiaries.

Carve-outs might also be used in the context of regulation where, effectively, a section or sections might be dis-applied.

See also

• Contract
• Exception
• Loan agreement
• Negative pledge
• Regulation