subordination agreement

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subordination agreement

n. a written contract in which a lender who has secured a loan by a mortgage or deed of trust agrees with the property owner to subordinate the first loan to a new loan (thus giving the new loan priority in any foreclosure or payoff). The agreement must be acknowledged by a notary so it can be recorded in the official county records. (See: subordination)

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Fitch does not consider the subordination clause for swap termination payments to be enforceable should Wells Fargo Bank default as it is a US entity.
The reverter has another clause, called a subordination clause.
The subordination clause in Dyster's proposal makes any new Hamister mortgage "superior" to the reverter clause.
While SDK has issued Euro-Yen convertible bonds with warrants (with subordination clause) due 2014, this transaction will have no influence.
If you own commercial rental property, your bank or other lender may request--or demand that you include a subordination clause in your leases.
The rating on the subordinated bonds is one notch below the BBB+ rating on senior debts of the bank, owing to the subordination clause.
John: So I need to ask that your Mortgage Deed include a standard Subordination Clause, whereby you agree to put the lien of your Mortgage behind that of the construction lender.
The talks are supposed to focus on biodiversity, the subordination clause (the environment in relation to World Trade Organisation rules), GMOs and rules applicable to shipments (notification and/or labelling).
ii) Issuance of new shares and sale of shares; issuance by third-party allotment of Euro-Yen convertible bonds with warrants due 2014 (with subordination clause); and issuance by an overseas special-purpose subsidiary of Euro-Yen permanent preferred securities with the right of conversion into common stock
The issue of a subordination clause has the potential to significantly influence the land-lease rate.
This article examines the typical shopping center subordination clause and some common problems (and some suggested solutions) when a tenant, especially an anchor tenant negotiates a "so-called" subordination and non-disturbance agreement with a landlord's mortgagee.