1. a person to whom a pledge is made or who receives something as security for a debt or obligation
Usage: legal

Examples

• The bank acted as pledgee when the borrower put up collateral for the loan.
• As pledgee, she had the right to sell the pledged property if the debt wasn’t repaid.
• The pledgee must return the collateral once the obligation is fulfilled.
• In the security agreement, the lender was designated as the pledgee.
• The pledgee has a legal interest in the pledged assets until the debt is satisfied.
• When the company defaulted, the pledgee exercised its right to foreclose on the pledged securities.