An agreement typically used to create a security interest in equity interests (including capital stock, LLC interests, and partnership interests) and promissory notes. The term "pledge" predates the Uniform Commercial Code (UCC), when a pledge involved the creation of a security interest by physical possession of the property. Under the UCC, a pledge agreement is a security agreement. The nature of the pledged assets means that a pledge agreement may contain different representations and warranties and covenants than a security agreement over business assets (for example, voting rights). For a form of pledge agreement, see Standard Document, Pledge Agreement.