Common Contracts
1 similar Intercreditor/Subordination Agreement contracts
ContractIntercreditor/Subordination Agreement • June 18th, 2019
Below is an overview of the key terms and provisions in intercreditor/subordination agreements governing the relationship between a senior secured lender (the “Senior Lender”) and a mezzanine lender (the “Mezz Lender”). Typically, the obligations owing to the Mezz Lender (the “Mezz Obligations”) are unsecured or are secured solely by a pledge of the equity interests in the borrower and/or by a second lien security interest on the Senior Lender’s collateral (which when coupled with the payment subordination applicable to the Mezz Obligations, is frequently referred to as a “silent” second lien).
