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Simple English definitions for legal terms

subordination clause

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A quick definition of subordination clause:

A subordination clause is a part of a legal document that says the rules in that document are not as important as the rules in another document. It can also be a promise in a loan agreement that the first loan will still be more important than any new loans that might come later.

A more thorough explanation:

A subordination clause is a provision in a legal document that places certain terms or conditions under the authority of another document or agreement that holds a higher priority.

1. In a real estate transaction, a subordination clause may be included in a second mortgage agreement, which allows the first mortgage to maintain its priority in case of default or foreclosure. This means that if the property is sold or foreclosed, the first mortgage lender will be paid before the second mortgage lender.

2. In a business contract, a subordination clause may be included in a loan agreement, which allows the lender to maintain its priority in case the borrower takes on additional debt. This means that if the borrower defaults on the loan, the lender will have the first claim on the borrower's assets.

These examples illustrate how a subordination clause can be used to establish a hierarchy of priorities in legal agreements. By explicitly stating which terms or conditions take precedence over others, parties can avoid confusion and disputes in the event of default or other unforeseen circumstances.

subordinate political power | suborn

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Dkk
15:46
Woo, it took almost 24 hours but my butthole is feeling good again! Just wanted to update y'all on my struggle.
[] baddestbunny
15:52
Ew
Dkk
15:56
Lmfao
soap
16:58
Thank you for the update
Dkk
17:04
Welcome.
Holding out strong for that 11 p.m. Sunday night wave.
soap
17:20
Do the admissions offices close on Veterans Day?
I think someone here was really interested in Cornell Law. I forgot their username now but I just talked to the Cornell admissions rep at the Houston LSAC fair and apparently 2/3 of people who interview at Cornell ultimately get in.
soap
17:21
Hello 🫡
soap
17:21
Thank you for your service, you’re a real one
soap
17:23
I wonder what it’s dependent on? Are the 2/3 chosen on stats, or interview performance, or more holistically?
I'm honestly not sure
[] baddestbunny
17:31
is Cornell a school where only people who interview get in?
I think so
She said historically a quarter get interview invites and then two thirds of those people get in.
soap
17:35
Did she say anything regarding if decisions will start to come out soon?
17:47
username changed
17:51
cockenheimer
17:56
when u boutta detonate some bomb dick u be like
17:56
cockenheimer
[] baddestbunny
17:57
sloppenheimer
17:58
*tips cap*
17:58
m'lady ahh gesture
18:04
seing smells rn
18:04
and smelling sights
@soap: I asked and she did not have an answer
soap
18:10
aw man. I hope it’s soon…
I'm sure it will be
[] baddestbunny
18:26
how soon is now
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