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.
New Hampshire Subordination Provision refers to a legal arrangement established to prioritize certain debts and obligations over others in the state of New Hampshire, United States. It ensures that the interests of certain parties with superior claims are protected before others in the event of default, bankruptcy, or foreclosure. A subordination provision in New Hampshire may come in various types, each serving different purposes to meet the specific needs of parties involved. Some types of New Hampshire Subordination Provision include: 1. Real Estate Subordination Provision: This subordination provision is commonly used in real estate transactions, such as mortgages or liens, where one party agrees to subordinate their claim or interest to that of another party. By doing so, they allow the new creditor to take priority over their previous claim, creating a hierarchy of claims in case of default or foreclosure. 2. Credit Agreement Subordination Provision: This type of subordination provision is often found in loan or credit agreements. It sets forth the conditions under which certain creditors or lending institutions agree to subordinate their outstanding debts to other parties, typically in favor of a senior lender or specific debt holders. It outlines the terms, conditions, and consequences associated with the subordination. 3. Bankruptcy Subordination Provision: In bankruptcy situations, a subordination provision may be used to determine the priority of claims of different creditors. New Hampshire bankruptcy laws govern the treatment of claims, ensuring that certain debt obligations are prioritized over others based on their legal classification, such as secured debts (backed by collateral) or unsecured debts (not backed by collateral). 4. Corporate Finance Subordination Provision: This type of provision is found in corporate finance transactions, such as bond issuance or capital investments made by investors in a company. It may involve subordination of claims for the benefit of bondholders or preferred stockholders to common stockholders, giving them a higher priority in the payment hierarchy in case of insolvency or liquidation. In summary, a New Hampshire Subordination Provision is a legal mechanism used to determine the priority of debts or claims in various contexts, such as real estate, credit agreements, bankruptcy proceedings, and corporate finance. The different types of subordination provisions cater to specific situations, ensuring that the interests of parties involved are safeguarded adequately.
