- subordination
-
sub·or·di·na·tion /sə-ˌbȯrd-ən-'ā-shən/ n: an act or instance of subordinating; also: the remedy of subordinating a claim see also equitable subordination
Merriam-Webster’s Dictionary of Law. Merriam-Webster. 1996.
- subordination
-
index
allegiance, array (order), bondage, conformity (obedience), servitude, subjection
Burton's Legal Thesaurus. William C. Burton. 2006
- subordination
-
Subordination means that the indebtedness in question ranks for repayment behind both secured creditors and unsecured trade creditors.
Easyform Glossary of Law Terms. — UK law terms.
- subordination
-
The process by which a creditor holding a priority debt agrees to accept a lower priority for the collection of its debt in a deference to a new debt. (See also: subordination agreement)Category: Real Estate & Rental Property → Homeowners
Nolo’s Plain-English Law Dictionary. Gerald N. Hill, Kathleen Thompson Hill. 2009.
- subordination
-
+ subordination/subordinatedAn arrangement where one creditor or group of creditors (the junior creditor(s)) agrees not to be paid by a borrower or other common debtor until another creditor or group of creditors (the senior creditor(s)) have been paid. Broadly, there are two types of subordination: structural (common in the UK and mainland Europe) and contractual (common in the US).On a contractual subordination, loans are made to the same company but the senior creditor and junior creditor agree priority of payment by contract.Structural subordination arises where the senior creditor lends to a company which is lower in the group structure than the company into which the junior creditor lends. Junior creditors as creditors of the holding company effectively rank behind creditors of the operating company (in which all of the assets are usually invested) because they are a creditor of a shareholder in the holding company.Related links+ subordination/subordinatedUSAAlso known as subordinated. The act of lowering the payment priority of a right or a claim with respect to another right or claim.
Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.
- subordination
-
n. A giving of lower ranking, class, or priority to one claim or debt with respect to another claim or debt.
Webster's New World Law Dictionary. Susan Ellis Wild. 2000.
- subordination
-
To put in an inferior class or order; to make subject to, or subservient. A legal status that refers to the establishment of priority between various existing liens or encumbrances on the same parcel of property.
Dictionary from West's Encyclopedia of American Law. 2005.
- subordination
-
To put in an inferior class or order; to make subject to, or subservient. A legal status that refers to the establishment of priority between various existing liens or encumbrances on the same parcel of property.
Short Dictionary of (mostly American) Legal Terms and Abbreviations.
- subordination
-
n.allowing a debt or claim which has priority to take second position behind another debt, particularly a new loan. A property owner with a loan secured by the property who applies for another loan to make additions or repairs usually must get a subordination of the original loan so the new obligation is in first place. A declaration of homestead must always be subordinated to a loan.See also: subordination agreement
Law dictionary. EdwART. 2013.
