This office lease is subject and subordinate to all ground or underlying leases and to all mortgages which may affect the lease or the real property of which demised premises are a part and to all renewals, modifications, consolidations, replacements and extensions of any such underlying leases and mortgages. This clause shall be self-operative.
Alabama Subordination Provision
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Multi-State
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US-OL20022A
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How to fill out Subordination Provision?
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FAQ
How to Use Subordination. Example: Because she got home late, she missed her dinner. Pattern: Because dependent clause, independent clause. Using coordination would show a weaker relationship: She got home late, and she missed her dinner.
Subordination is when two clauses are joined together that compare/contrast/add a condition. One sentence or clause is of more value than the other.
A subordination clause is a clause in an agreement that states that the current claim on any debts will take priority over any other claims formed in other agreements made in the future. Subordination is the act of yielding priority.
When you get a mortgage loan, the lender will likely include a subordination clause essentially stating that their lien will take precedence over any other liens placed on the house. A subordination clause serves to protect the lender if a homeowner defaults.
Subordination is the act or process by which one person or creditor's rights or claims are ranked below those of others, dealing with the distribution priority of debts between creditors.
A subordination agreement must be signed and acknowledged by a notary and recorded in the official records of the county to be enforceable.
For example, if a company issues bonds in the market with a subordination clause, it ensures that if more bonds are issued in the future, the original bondholders will receive payment before the company pays all other debt issued after it.
Subordination is putting something in a lower position or rank. Therefore, a subordination agreement puts the lease below the mortgage loan in priority. Mortgage lenders want the leases to be subordinate to the mortgage. That way, the mortgage loan is paid first if there is a foreclosure.
