A subordination agreement in Idaho is a legal document that outlines the order of priority among multiple security interests in the same collateral. It determines which creditor has first claim to the collateral in case of default or bankruptcy of the borrower. By subordinating their security interest, a creditor willingly gives precedence to another creditor's claim. In Idaho, there are various types of security interest subordination agreements that cater to specific situations. Some commonly encountered ones include: 1. Real Estate Subordination Agreement: This type of agreement is used when there are multiple security interests in real property. It establishes the priority of claims among lenders, such as mortgage lenders and lien holders. 2. Equipment Subordination Agreement: Used when various lenders have security interests in equipment owned by a business. It determines the order of priority among creditors if the borrower defaults or goes bankrupt. 3. Accounts Receivable Subordination Agreement: Relevant for businesses that assign their accounts receivable as collateral. This agreement outlines the priority among lenders with security interests in these receivables. 4. Subordinated Debt Agreement: In this agreement, a creditor voluntarily agrees to subordinate their debt in favor of another lender. It ensures that the subordinated debt is repaid only after the higher-ranking debts have been satisfied in case of default or bankruptcy. 5. Intercreditor Agreement: This agreement is common when multiple creditors hold security interests in the same collateral. It establishes the relationship and priority among the creditors, including subordination terms. Key terms associated with Idaho Security Interest Subordination Agreement may include "priority of claim," "collateral," "default," "bankruptcy," "secured creditor," "subordinated creditor," "first lien holder," "second lien holder," "consent," "obligation," "security interest," and "subordination clause." It's important to consult with legal professionals to draft or understand these agreements accurately as they involve intricate legal procedures and potential financial implications.