Knighthood was the crown of knightly service and it was forfeited for recreancy.

KNIGHTHOOD, a distinction granted to commoners, ranking next to baronet, now bestowed by the crown; formerly knighthood was a military order, any member of which might create new knights; it was originally the highest rank of CHIVALRY (q. v.); it was an order of many subdivisions developed during the crusades, and in full flower before the Norman conquest of England.

I ask you mercy: yet 'tis no matter, his Knighthood is no inheritance I take it: whatsoever he is, he is your Servant, or would be, Lady.