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LSDefine

Simple English definitions for legal terms

subordinate debt

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A quick definition of subordinate debt:

Subordinate debt is a type of debt that is considered less important than other types of debt. This means that if a borrower cannot pay all of their debts, the subordinate debt will be paid last. It is like being at the back of the line. Other types of debt, like secured debt or priority debt, will be paid first.

A more thorough explanation:

Definition: Subordinate debt is a type of debt that is considered inferior or junior to other types or classes of debt. It means that if the borrower defaults on their payments, the holders of subordinate debt will be paid after the holders of other types of debt.

Example: A company issues bonds to raise money. The bonds are divided into two classes: senior bonds and subordinate bonds. The senior bonds have priority over the subordinate bonds, which means that if the company goes bankrupt, the holders of senior bonds will be paid first, and the holders of subordinate bonds will be paid later, if at all.

This example illustrates how subordinate debt is considered less secure than other types of debt because it has a lower priority in the event of default.

subordinate debenture | subordinate legislation

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im distracting myself by schizo-scrolling r/lawschoolamissions and every conceivable data point on this godforsaken website
it is not working
Haaa I naturally want to do that too. I’m trying to stop. They need a surgeon general’s warning on this site for perspective law students
i spend more time on here then anything else trying to rationalize that the waves from last year will match waves for this year (they won't) and that the stats of people with the same stats are indicative of my own (they aren't)
There aren't many people in my stat range so I pretty much know every result in my range after being on here for a few years
9:28
congrats on the 172 bruce
go dawgs fr
9:29
roll tide
do we foresee a fordham election day wave today (i'm delusional)
WorthlessAttractiveZombie
9:31
I think so, Jack
9:31
some people hate him. some people love him, but he a real one: https://youtu.be/w5oEqiVQcF4?t=173
9:32
[kevin oleary]
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
WorthlessAttractiveZombie
9:34
I mean if Fordham doesn't release today I will purposefully get on a train, go to new york, and then take the stinkiest shit inside the admission office's toilet (potentially clogging it and forcing them to get a plumber)
IS IT ONLY ON MY END WHY DID THAT SEND TEN MILLION TIMES
HELLO
WorthlessAttractiveZombie
9:35
it sent a million times lol
WHAT HAPPENED
yeah i thought you were tweaking for a second
i'm so sorry everyone what the actual fuck this website hates me
WorthlessAttractiveZombie
9:35
Jack's just tweaking on LSD no biggie
to be fair this accurately represents my mental state
election day psychosis coming in hot (fordham)
usc pls pull through .....
i literally just need one A so i can relax before my ED decision
WorthlessAttractiveZombie
9:38
oh that's right USC might release
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