| 单词 | subordination agreement |
| 释义 | subordination agreementDefinition Formal document acknowledging that one party's claim or interest is inferior (junior) to that of the other party or parties. For example, a firm may agree to let a bank loan take precedence (seniority) over directors' or owners' loans to the firm. If such consent forms a part of a larger agreement, it is called a subordination clause. Use 'subordination agreement' in a SentenceThe suing party was unable to recover his losses because he had signed a subordination agreement allowing other creditors first right of a claim. As an investor, I urge you to accept the subordination agreement which will cause all investors' claims to be considered after back taxes are paid. The subordination agreement was not something I was looking forward to and it made me shiver with fear and anticipation. |
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