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Scottish Widows Bank plc Deed of Priority Date: Definitions Borrower: Bank: Scottish Widows Bank plc of 67 Morrison Street, Edinburgh, EH3 8YJ. Lender: Property: Banks Mortgage: A mortgage on the.

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Waiver of Priority means (i) in the case of premises leased by the Issuer or a Restricted Subsidiary, a written consent or agreement from the landlord of such premises to the Lien in such lease and in the inventory located at such premises held by the Collateral Trustee and to the Collateral Trustee having access to ...

An Intercreditor Agreement is a collateral distribution once a borrower defaults in case the lenders are both superior. In the case of the subordination agreement, the loans are ranked in order of priority. It means a rank is given regarding which debt is to be paid first compared to other debts.

An intercreditor agreement sets forth the priority of the liens in relation to one another and also governs the rights and obligations of each group of lenders in relation to the other group of lenders.

An Intercreditor Agreement, commonly referred to as an inter-creditor deed, is a document signed between two or more creditors, stipulating in advance how their competing interests are resolved and how to work in tandem in service to their mutual borrower.

A contract, often a deed, which regulates the respective rights and ranking of two or more funders (often both debt and equity) in a financing.

A Deed of Priority is a legal agreement which sets out the agreed terms between different lenders. Where a lender's security competes with that of another lender over the same assets, a Deed of Priority sets out how the monies from the realisation of such assets will be dealt with.

The key purpose of the intercreditor agreement is to ensure that each type of debt used in the transaction has a risk commensurate with its pricing, ie senior debt (which has a lower return) has less risk than the more expensive junior debt.

A document used to confirm that a lender agrees their mortgage will rank or take effect in priority after another lender's mortgage.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232