Subordination Agreement
This Subordination Agreement is between a debtor, a creditor and a subordinator who is also a creditor. In this agreement the subordinator agrees that the other creditor will have priority regarding the secured assets of debtor. In essence the subordinating party's claim is inferior to that of the other creditor. This agreement sets out the terms of the agreement including names of the parties, the amount owed by debtor and the collateral. It is crucial that this type of agreement be memorialized in writing. A written Subordination Agreement will be important if the parties have future disagreements or misunderstandings.
This Subordination Agreement includes the following:
- Parties: Names and addresses of subordinating party, creditor and debtor;
- Indebtedness: The amount owed by the debtor to subordinator and any collateral for the debt;
- Indebtedness to Lender: Amount debtor owes to lender and any collateral;
- Consent of Subordinator: Subordinating party agrees that lender’s security has priority;
- Filings by Lender: Lender shall file and subordinator will sign any necessary financing documents;
- Covenant of Debtor: The debtor acknowledges the priorities set out in this agreement;
- Signatures: This agreement must be signed by the subordinator, the creditor and the debtor.
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- Subordination Agreement
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Product Specifications
| Product |
Subordination Agreement |
| Pages |
7 |
| Dimensions |
Designed for Letter Size (8.5" x 11") |
| Printer compatibility |
Designed to print on all ink-jet and laser printers |
| Sample |
Available (requires Flash plug-in) |
| Editable |
Yes (.doc, .wpd and .rtf) |
| Format |
Microsoft Word
Adobe PDF
WordPerfect
Rich Text Format
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| Platform |
Windows Compatible
Mac Compatible
Linux Compatible |
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Unlimited number of prints |
| Product number |
#28645 |
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