This office lease form is a more detailed, more complicated subordination provision stating that subordination is conditioned on the landlord providing the tenant with a satisfactory non-disturbance agreement.
New York Detailed Subordination Provision refers to a specific clause that can be included in various legal agreements, such as loan agreements or lease agreements, to establish the priority of payment or rights between multiple parties involved in the transaction. This provision ensures that certain creditors or parties with superior rights are paid or have their interests protected before others. The New York Detailed Subordination Provision is particularly important in complex financial transactions, where multiple lenders or creditors are involved, or in cases where a borrower has many outstanding debts. By clearly outlining the order in which claims or payments will be made, it helps to minimize ambiguity and potential disputes, providing clarity and security for all parties involved. Key terms and keywords related to the New York Detailed Subordination Provision include: 1. Priority of payment: This is the order in which creditors or parties with superior rights will be paid or have their interests satisfied. The provision clarifies who has priority and establishes the hierarchy of claims. 2. Superior creditor: This refers to a creditor or party with a higher priority of payment, meaning that their claims need to be satisfied before others. 3. Subordinate creditor: This refers to a creditor or party with a lower priority of payment, meaning their claims will be satisfied only after superior creditors have been paid. 4. Subordinated debt: This refers to a debt or obligation that is legally required to be paid only after other specified debts or obligations have been satisfied. Different types of New York Detailed Subordination Provisions may include: 1. Intercreditor agreements: These agreements are commonly used in situations where multiple lenders are involved, such as in syndicated loans. They outline the rights and priorities of each lender concerning repayment, collateral, and control in the event of default. 2. Lease subordination provisions: In this case, the provision establishes the priority of a leaseholder's rights in relation to other parties, such as the landlord or lenders. It helps define the circumstances under which the leaseholder's rights could be subordinated to the interests of others. 3. Bankruptcy subordination provisions: These provisions come into play during bankruptcy proceedings, determining the order in which creditors will be paid from the debtor's assets. They may be designed to protect the rights of certain creditors or ensure a fair distribution of assets. Overall, the New York Detailed Subordination Provision is a crucial legal tool used to establish the hierarchy of claims, ensuring fair treatment of creditors and parties with superior rights. Its inclusion in agreements brings clarity, reduces disputes, and provides a framework for lenders, borrowers, and other parties to safeguard their interests and make informed decisions.New York Detailed Subordination Provision refers to a specific clause that can be included in various legal agreements, such as loan agreements or lease agreements, to establish the priority of payment or rights between multiple parties involved in the transaction. This provision ensures that certain creditors or parties with superior rights are paid or have their interests protected before others. The New York Detailed Subordination Provision is particularly important in complex financial transactions, where multiple lenders or creditors are involved, or in cases where a borrower has many outstanding debts. By clearly outlining the order in which claims or payments will be made, it helps to minimize ambiguity and potential disputes, providing clarity and security for all parties involved. Key terms and keywords related to the New York Detailed Subordination Provision include: 1. Priority of payment: This is the order in which creditors or parties with superior rights will be paid or have their interests satisfied. The provision clarifies who has priority and establishes the hierarchy of claims. 2. Superior creditor: This refers to a creditor or party with a higher priority of payment, meaning that their claims need to be satisfied before others. 3. Subordinate creditor: This refers to a creditor or party with a lower priority of payment, meaning their claims will be satisfied only after superior creditors have been paid. 4. Subordinated debt: This refers to a debt or obligation that is legally required to be paid only after other specified debts or obligations have been satisfied. Different types of New York Detailed Subordination Provisions may include: 1. Intercreditor agreements: These agreements are commonly used in situations where multiple lenders are involved, such as in syndicated loans. They outline the rights and priorities of each lender concerning repayment, collateral, and control in the event of default. 2. Lease subordination provisions: In this case, the provision establishes the priority of a leaseholder's rights in relation to other parties, such as the landlord or lenders. It helps define the circumstances under which the leaseholder's rights could be subordinated to the interests of others. 3. Bankruptcy subordination provisions: These provisions come into play during bankruptcy proceedings, determining the order in which creditors will be paid from the debtor's assets. They may be designed to protect the rights of certain creditors or ensure a fair distribution of assets. Overall, the New York Detailed Subordination Provision is a crucial legal tool used to establish the hierarchy of claims, ensuring fair treatment of creditors and parties with superior rights. Its inclusion in agreements brings clarity, reduces disputes, and provides a framework for lenders, borrowers, and other parties to safeguard their interests and make informed decisions.
