Junior position Clause Samples
The 'Junior position' clause defines the status and rights of a creditor or lender whose claim is subordinate to those of other creditors in the event of a debtor's default or liquidation. In practice, this means that if the debtor's assets are distributed, the junior creditor will only be paid after all senior creditors have been satisfied. For example, in a loan agreement, a junior lender may agree to receive repayment only after the primary lender is fully repaid. This clause is essential for allocating risk among creditors and clarifying the order of repayment, thereby facilitating structured financing arrangements.
Junior position. The functional responsibility of this position for all Service Categories may include: • Applying administrative, consultative and technical expertise in fulfillment of scopes of work; and • Planning, organizing, executing, and controlling project tasks in successful delivery of services; and • Interfacing with client on a day-to-day basis to ensure delivery of project status; and • Providing solutions through analysis; and • Organizing, directing, and managing support services; and • Assigning tasks and overseeing projects; and • Directing project activities in fulfillment of Contract tasks/deliverables and Scopes of Work; and • Training Customer personnel through formal classroom courses; and • Applying a broad set of subject matter and technical expertise; and • Directing the completion of projects within estimated timeframes and budget constraints; Customers may supplement these duties in providing services to the Customer, so long as they are similar or equivalent services that do not exceed or conflict with the services contemplated in the Department’s Contract Scope of Work.