Equal Coverage 

Source: Encyclopedia of Banking & Finance (9h Edition) by Charles J Woelfel
(We recommend this as work of authority and you can order it here)                                

A protective clause in a corporate indenture providing that in the case of subsequent issues of bonds, the subject bonds shall be entitled to the same security as that of the subsequent issues.  Such a clause, in the case of debentures (unsecured obligations), will result in such debentures acquiring a secured status as the result of subsequent issuance of mortgage bonds.

See DEBENTURE BONDS

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