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Simple English definitions for legal terms

subordinate debt

Read a random definition: UIJC

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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RoaldDahl
16:05
dodged the mich r wave what does this mean
HopefullyInLawSchool
16:06
it means you will not be rejected today and may be accepted or WL in the future
Just got my Michigan rejection
BookwormBroker
16:10
same
RoaldDahl
16:10
@HopefullyInLawSchool: what if i already got rejected. does it mean anything
HopefullyInLawSchool
16:12
@RoaldDahl: Likely not however it could mean nothing
RoaldDahl
16:15
So if it means nothing does that mean something?
HopefullyInLawSchool
16:17
Possibly
RoaldDahl
16:26
Cool
RoaldDahl
16:26
thank you!!!! i hope it means something
pinkandblue
16:31
fart
IrishDinosaur
16:36
Mich R gang lesgooo
Did anyone else get that random get to know nova email?
HopefullyInLawSchool
17:21
Ya it was sent to all YM applicants
starfishies
17:37
Anyone get the NDLS email inviting you to apply for something even though they haven’t made a decision on your app yet
17:38
Better yet I got the email and I was rejected last month
starfishies
17:38
Wtf
starfishies
17:39
and the deadline is in like a week what is this
any cardozo movement?
BatmanBeyond
18:01
Sent a LOCI via portal, but I'm wondering if email would have gotten me a swifter response
BatmanBeyond
18:02
This whole hold/wait-list/reserve system is a headache
loci already?
BatmanBeyond
18:09
If the odds are like 1-2% I don't think it matters much by the numbers
12:11
I got the same NDLS email
OrangeThing
12:18
I think the user profiles are broken
19:29
Any word out of Notre Dame?
19:29
Only the invitation to apply for LSE
19:29
Anyone received a decision from NDLS?
19:50
when did u guys apply that just heard from umich? they havent even glanced at my app yet
0:30
how am i supposed to spy on people when profile links are broken?
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