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.
Nassau New York Detailed Subordination Provision refers to a legal clause often included in various financial agreements and contracts executed in Nassau County, New York. This provision lays out the specific terms and conditions under which one creditor's claim takes priority or precedence over another creditor's claim in the event of default or bankruptcy. Such provisions are prevalent in real estate mortgages, loan agreements, and debt securities, and they serve to protect the interests of lenders and ensure orderly distribution of funds in case of insolvency or foreclosure. In Nassau County, there are several types of detailed subordination provisions in use, including: 1. Intercreditor Subordination Provision: This type of provision is commonly found in syndicated loan agreements where multiple lenders are involved. It outlines the hierarchy of creditors and determines the priority of repayment in case of default. It ensures that senior lenders (e.g., banks) are paid first before junior lenders. 2. Mortgage Subordination Provision: This provision is often seen in real estate transactions involving multiple mortgages. It establishes the order in which various mortgages are repaid upon the sale or foreclosure of the property. Typically, the first mortgage has priority over subsequent mortgages, securing the repayment for the first lien holder. 3. Subordinated Debt Subordination Provision: This provision is relevant in the context of bond issues or corporate debt offerings. It defines the order in which different tiers or classes of debt holders would be repaid during bankruptcy proceedings. Senior debt holders are given priority over subordinated or junior debt holders. 4. Lender Subordination Provision: This provision can occur when a creditor willingly agrees to subordinate their claim to another creditor's claim. It is often used when a borrower needs to secure additional financing and the new lender requires a higher position in the priority of claim. The Nassau New York Detailed Subordination Provision is a crucial element in financial agreements, as it helps manage risk, protect lenders' interests, and establish a fair distribution of funds in situations where default or insolvency may occur. It is essential to consult with legal professionals familiar with Nassau County regulations to ensure the provision is properly structured and enforceable under the local laws.Nassau New York Detailed Subordination Provision refers to a legal clause often included in various financial agreements and contracts executed in Nassau County, New York. This provision lays out the specific terms and conditions under which one creditor's claim takes priority or precedence over another creditor's claim in the event of default or bankruptcy. Such provisions are prevalent in real estate mortgages, loan agreements, and debt securities, and they serve to protect the interests of lenders and ensure orderly distribution of funds in case of insolvency or foreclosure. In Nassau County, there are several types of detailed subordination provisions in use, including: 1. Intercreditor Subordination Provision: This type of provision is commonly found in syndicated loan agreements where multiple lenders are involved. It outlines the hierarchy of creditors and determines the priority of repayment in case of default. It ensures that senior lenders (e.g., banks) are paid first before junior lenders. 2. Mortgage Subordination Provision: This provision is often seen in real estate transactions involving multiple mortgages. It establishes the order in which various mortgages are repaid upon the sale or foreclosure of the property. Typically, the first mortgage has priority over subsequent mortgages, securing the repayment for the first lien holder. 3. Subordinated Debt Subordination Provision: This provision is relevant in the context of bond issues or corporate debt offerings. It defines the order in which different tiers or classes of debt holders would be repaid during bankruptcy proceedings. Senior debt holders are given priority over subordinated or junior debt holders. 4. Lender Subordination Provision: This provision can occur when a creditor willingly agrees to subordinate their claim to another creditor's claim. It is often used when a borrower needs to secure additional financing and the new lender requires a higher position in the priority of claim. The Nassau New York Detailed Subordination Provision is a crucial element in financial agreements, as it helps manage risk, protect lenders' interests, and establish a fair distribution of funds in situations where default or insolvency may occur. It is essential to consult with legal professionals familiar with Nassau County regulations to ensure the provision is properly structured and enforceable under the local laws.
