[{"data":1,"prerenderedAt":491},["ShallowReactive",2],{"document-subordination-agreement-long-form-D424":3},{"document":4,"label":24,"preview":11,"thumb":25,"description":5,"descriptionCustom":6,"apiDescription":5,"pages":8,"extension":10,"parents":26,"breadcrumb":30,"related":38,"customDescModule":185,"customdescription":6,"mdFm":186,"mdProseHtml":490},{"description":5,"descriptionCustom":6,"label":7,"pages":8,"size":9,"extension":10,"preview":11,"thumb":12,"svgFrame":13,"seoMetadata":14,"parents":15,"keywords":23},"SUBORDINATION AGREEMENT This Subordination Agreement (the \"Agreement\") is effective [DATE], BETWEEN: [FIRST PARTY NAME] (the \"Creditor\"), a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] AND: [SECOND PARTY NAME] (the \"Debtor\"), a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] AND: [THIRD PARTY NAME] (the \"Guarantor\"), a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] WITNESSETH : WHEREAS the Bank and the Debtor have entered into an agreement dated [DATE] (as the same has been or may be amended from time to time, the \"Loan Agreement\"), pursuant to the terms of which the Bank has agreed to make advances to the Debtor including, without limitation, the creation of acceptances and the issue of letters of credit and letters of guarantee, from time to time; AND WHEREAS the obligations and liabilities of the Debtor under the Loan Agreement have been guaranteed by the Guarantor pursuant to its guarantee (the \"Guarantee\") in favor of the Bank dated [DATE]; AND WHEREAS as security for the payment of its present and future indebtedness and liabilities to the Bank under the Loan Agreement, the Debtor has created, and may in future create, security on its assets in favor or for the benefit of the Bank (all such security, present and future, and all documents evidencing the same from time to time being hereinafter collectively referred to as the \"Bank Security\") including, without limitation: the demand debenture (the \"Debenture\") of the Debtor in the principal amount of [COUNTRY] [AMOUNT] dated [DATE]; the debenture pledge agreement of the Debtor dated [DATE] relating to the Debenture; the security agreement made by the Debtor in favor of the Bank dated [DATE]; the share pledge agreement executed by the Debtor in favor of the Bank on [NUMBER] pursuant to which the Debtor has pledged and hypothecated to the Bank [NUMBER] shares in the capital of the Guarantor; the general assignment of book debts governed by the [YOUR COUNTRY LAW] of the Province of [NUMBER] made by the Debtor in favor of the Bank dated [DATE]; the trust deed executed by the Debtor and [SPECIFY] Trust Company in favor of the Bank dated [DATE]; the general assignment of debts governed by the [YOUR COUNTRY LAW] of the Province of [STATE/PROVINCE] made by the Debtor in favor of the Bank dated [DATE]; security granted by the Debtor to the Bank pursuant to Section [NUMBER] of the Bank [ACT/LAW/RULE] ([COUNTRY]) consisting of: the notice of intention to give security under section [NUMBER] of the Bank [ACT/LAW/RULE] ([COUNTRY]) made on [NUMBER] by the Debtor; the agreement for security under section [NUMBER] of the Bank [ACT/LAW/RULE] ([COUNTRY]) made by the Debtor on [NUMBER]; the agreement as to loans and advances made by the Debtor on [NUMBER]; the Charge/Mortgage of Land made by the Debtor in favor of the Bank dated [DATE] in the form prescribed by the Land Registration Reform Act, [YEAR] ([STATE/PROVINCE]); the trademark security agreement ([COUNTRY] Trademarks) made by the Debtor as of [NUMBER]; and the patent security agreement ([COUNTRY] patents) made by the Debtor as of [NUMBER]; AND WHEREAS as security for the payment and performance of its obligations and liabilities to the Bank under the Guarantee, the Guarantor has created and may in future create, security on its assets in favor or for the benefit of the Bank (all such security, present or future, and all documents evidencing the same from time to time being hereinafter referred to as the \"Bank Security\") including, without limitation: the demand debenture (the \"Guarantor Debenture\") of the Guarantor in the principal amount of [COUNTRY] [AMOUNT] dated [DATE]; the debenture pledge agreement of the Guarantor dated [DATE] relating to the Guarantor Debenture; the general assignment of book debts governed by the [YOUR COUNTRY LAW] of the Province of [NUMBER] made by the Guarantor in favor of the Bank dated [DATE]; and the patent security agreement ([COUNTRY] patents) made by the Guarantor as of [NUMBER]; AND WHEREAS the Creditor and the Debtor have entered into a buying agency agreement (the \"Buying Agency Agreement\") dated [DATE] pursuant to which [SPECIFY] (the \"Parent\") has appointed the Creditor as the Parent's exclusive buying agent in the countries identified on Exhibit [SPECIFY] to the Buying Agency Agreement; AND WHEREAS the Creditor has agreed to act as the buying agent of the Debtor and the Guarantor on the terms set out in the Buying Agency Agreement; AND WHEREAS, as security for payment or performance of their liabilities and obligations to the Creditor, whether under the Buying Agency Agreement or otherwise, the Debtor and the Guarantor have entered into the following security documents by which security has been granted by them to the Creditor (herein, as the same may be amended from time to time, collectively called the \"Creditor Security Documents\"); the debenture of the Guarantor in the principal amount of [COUNTRY] [AMOUNT] dated [DATE]; the debenture of the Debtor in the principal amount of [COUNTRY] [AMOUNT] dated [DATE]; the general assignment of accounts receivable of the Guarantor dated [DATE]; the general assignment of accounts receivable of the Debtor dated [DATE]; the general security agreement of the Debtor dated [DATE]; the trust deed of the Debtor and [NUMBER] Trust Company dated [DATE]; and the commercial pledge of the Debtor dated [DATE]. AND WHEREAS under the terms of the Loan Agreement, the Debtor and the Guarantor are prohibited from granting Security Interests (as hereinafter defined) to the Creditor on their undertaking, properties and assets; AND WHEREAS the Creditor, the Debtor and the Guarantor have requested that the Bank consent to the grant of the Security Interests; AND WHEREAS in order to induce the Bank to consent to the grant of the Security Interests, the Creditor is willing, upon the conditions hereunder set forth, to subordinate repayment to it of the Subordinated Debt (as hereinafter defined) to repayment in full of the Senior Debt (as hereinafter defined) and to subordinate the Security Interests to the Bank Security (as hereinafter defined); NOW THEREFORE, in consideration of the sum of [AMOUNT] in lawful money of [COUNTRY] and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged by each of the parties hereto, the parties hereto hereby agree as follows: DEFINITIONS As used in this Agreement, the following terms shall have the following meanings: \"Bank Security\" means the Bank Security. \"Borrowers\" means the Debtor and the Guarantor. \"Security Interests\" means the Debtor Security Interests and the Guarantor Security Interests. \"Senior Debt\" means all obligations, liabilities and indebtedness of the Debtor and the Guarantor to the Bank arising in connection with the Loan Agreement, whether such obligations, liabilities or indebtedness are now existing or hereafter arising, secured or unsecured, absolute or contingent, and whether for principal, interest (including advances made and interest accruing after a bankruptcy petition is filed by or against the Debtor or the Guarantor, whether or not allowed), fees, costs, expenses, as collateral security or otherwise and including, without limitation, reimbursement obligations of the Debtor in respect of any bankers' acceptances, letters of credit and letters of guarantees issued under 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Long","/template/option-to-buy-agreement-long-D1192","https://templates.business-in-a-box.com/imgs/250px/1192.png",{"label":80,"url":81,"thumb":82,"extension":10},"Subordination Agreement Private Companies","/template/subordination-agreement-private-companies-D425","https://templates.business-in-a-box.com/imgs/250px/425.png",{"label":84,"url":85,"thumb":86,"extension":10},"Equipment Lease Agreement Long","/template/equipment-lease-agreement-long-D1141","https://templates.business-in-a-box.com/imgs/250px/1141.png",{"description":88,"descriptionCustom":6,"label":89,"pages":90,"size":91,"extension":10,"preview":92,"thumb":93,"svgFrame":94,"seoMetadata":95,"parents":96,"keywords":104,"url":105},"PROMISSORY NOTE This Promissory Note (the \"Note\") is made and effective the [DATE], BETWEEN: [LENDER NAME] (the \"Lender\"), an individual with his main address located at OR a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] AND: [YOUR COMPANY NAME] (the \"Borrower\"), a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] TERMS FOR VALUE RECEIVED, the Borrower promises to pay to the order of Lender, at its principal office located at [ADDRESS], or at such other place that is designated in writing by the holder hereof, the principal sum of [AMOUNT], together with all charges and interest herein provided, payable at the rate and in the manner hereinafter set forth: Borrower shall make monthly payments of principal and interest at the rate of [%] per annum based upon an amortization of [NUMBER] months. Monthly payments shall be due on or before the first day of each month with the first payment being due on or before [DATE]. If not sooner paid, all amounts due under this Note, including principal, interest and other charges shall be due and payable in full on or before the first day of [MONTH], [YEAR] (the \"Maturity Date\"). Time is of the essence of the payment obligations hereunder and each monthly payment shall be due and payable on or before the first day of each month. This Note is and will be secured by a certain first priority security interest in all of the tangible and intangible property of the Borrower, to be recorded in all applicable governmental offices. The parties shall execute a separate security agreement, in form and substance acceptable to the Lender in all respects. Borrower agrees to execute any such security agreements presented by the Lender or other documents required by the Lender in order to perfect its security interest in the above described property. Said Security Agreement and any other instruments and documents executed in connection with or given as security for this Note shall hereinafter be referred to collectively as the \"Loan Documents.\" All of the terms, covenants, Conditions, representations and warranties contained in the Loan Documents are hereby made part of this Note to the same extent and with the same force and effect as if fully set forth herein. If all or any portion of any payment due hereunder is not received by the Lender within [NUMBER] calendar days after the date when such payment is due, Borrower shall pay a late charge equal to [%] of such payment, such late charge to be immediately due and payable without demand by Lender. Borrower shall have the right to prepay all (but not a portion) of the indebtedness evidenced by this Note at any time, by paying the Lender an amount equal to the sum of (I) the principal balance then outstanding, (ii) all interest accrued to the date of such prepayment, (iii) all interest calculated through the Maturity Date, and (iv) any late charge or charges then due and owing. If any payment under this Note is not paid in full by the [DAY] of any month during the term hereof or if the entire amount due as represented by this Note is not paid in full on or before the Maturity Date, or should default be made in the performance or observation of any of the terms, covenants, or conditions contained in the Loan Documents, or if any representation or warranty contained in the Loan Documents is breached or is or becomes untrue, this Note shall be in default, and the entire principal amount outstanding hereunder, accrued interest thereon, all late charges, if any, and any and all other charges due hereunder, shall, at Lender's option, immediately become due and payable, without further notice, the giving of such notice being expressly waived by the Borrower","Promissory Note","3",39,"https://templates.business-in-a-box.com/imgs/1000px/promissory-note-D434.png","https://templates.business-in-a-box.com/imgs/250px/434.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#434.xml",{"title":6,"description":6},[97,99,101],{"label":17,"url":98},"finance-accounting",{"label":20,"url":100},"business-loan",{"label":102,"url":103},"Promissory Notes","promisory-note","promissory note","/template/promissory-note-D434",{"description":107,"descriptionCustom":6,"label":108,"pages":109,"size":110,"extension":10,"preview":111,"thumb":112,"svgFrame":113,"seoMetadata":114,"parents":116,"keywords":115,"url":120},"LOAN AGREEMENT This Loan Agreement (\"Agreement\") is made and effective the [DATE], BETWEEN: [LENDER NAME] (the \"Lender\"), an individual with his main address located at OR a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] AND: [YOUR COMPANY NAME] (the \"Borrower\"), a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] Promise to Pay Within [NUMBER] months from today, Borrower promises to pay to Lender the sum of [AMOUNT], and interest and other charges stated below. Responsibility Although this Agreement may be signed below by more than one person, Borrower understands that both parties are individuals responsible for paying back the full amount. Breakdown of Loan Amount of Loan: Other (Describe): Amount Financed: Finance Charge: Total of Payments: Annual Rate: Repayment Borrower will repay the amount of this note in [NUMBER] equal uninterrupted monthly installments of [AMOUNT] each on the [DAY] of each month starting on the [DATE], and ending on [DATE]. Prepayment Borrower has the right to prepay the whole outstanding amount at any time","Loan Agreement","2",513,"https://templates.business-in-a-box.com/imgs/1000px/loan-agreement-D417.png","https://templates.business-in-a-box.com/imgs/250px/417.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#417.xml",{"title":115,"description":6},"loan agreement",[117,118,119],{"label":17,"url":98},{"label":20,"url":100},{"label":20,"url":100},"/template/loan-agreement-D417",{"description":122,"descriptionCustom":6,"label":123,"pages":124,"size":125,"extension":10,"preview":126,"thumb":127,"svgFrame":128,"seoMetadata":129,"parents":130,"keywords":136,"url":137},"ASSIGNMENT OF DEED OF TRUST This Assignment of Deed of Trust (the \"Assignment\") is made and effective [DATE], BETWEEN: [YOUR COMPANY NAME] (the \"Trustor\"), a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] AND: [TRUSTEE NAME] (the \"Trustee\"), a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] TERMS","Assignment of Deed of Trust","1",28,"https://templates.business-in-a-box.com/imgs/1000px/assignment-of-deed-of-trust-D975.png","https://templates.business-in-a-box.com/imgs/250px/975.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#975.xml",{"title":6,"description":6},[131,133],{"label":33,"url":132},"business-legal-agreements",{"label":134,"url":135},"Deeds","deed","assignment deed trust","/template/assignment-of-deed-of-trust-D975",{"description":139,"descriptionCustom":6,"label":140,"pages":141,"size":142,"extension":10,"preview":143,"thumb":144,"svgFrame":145,"seoMetadata":146,"parents":147,"keywords":154,"url":155},"MORTGAGE This Mortgage (the \"Agreement\") is made and effective [DATE], BETWEEN: [YOUR COMPANY NAME] (the \"Mortgagor\"), a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] AND: [MORTGAGEE NAME] (the \"Mortgagee\"), an individual with his main address located at OR a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] RECITALS WHEREAS, Mortgagor is justly indebted to Mortgagee in the sum of [AMOUNT] in lawful money of [COUNTRY], and has agreed to pay the same, with interest thereon, according to the terms of a certain note (the \"Note\") given by Mortgagor to Mortgagee, bearing even date herewith. DESCRIPTION OF PROPERTY SUBJECT TO LIEN: \"PREMISES\" NOW, THEREFORE, in consideration of the premises and the sum hereinabove set forth, and to secure the payment of the Secured Indebtedness as defined herein, Mortgagor has granted, bargained, sold and conveyed, and by these presents does grant, bargain, sell and convey unto Mortgagee property situated in [CITY, STATE/PROVINCE] more particularly described in Exhibit\" A\" attached hereto and by this reference made a part hereof; TOGETHER with all buildings, structures and other improvements now or hereafter located on, above or below the surface of the property herein before described, or any part and parcel thereof; and, TOGETHER with all and singular the tenements, easements, riparian and littoral rights, and appurtenances thereunto belonging or in anywise appertaining, whether now owned or hereafter acquired by Mortgagor, and including all rights of ingress and egress to and from adjoining property (whether such rights now exist or subsequently arise) together with the reversion or reversions, remainder and remainders, rents, issues and profits thereof; and also all the estate, right, title, interest, claim and demand whatsoever of Mortgagor of, in and to the same and of, in and to every part and parcel thereof; and, TOGETHER with all machinery, apparatus, equipment, fittings, fixtures, whether actually or constructively attached to said property and including all trade, domestic and ornamental fixtures, and articles of personal property of every kind and nature whatsoever (hereinafter collectively called \"Equipment\"), now or hereafter located in, upon or under said property or any part thereof and used or usable in connection with any present or future operation of said property and now owned or hereafter acquired by Mortgagor; and, TOGETHER with all the common elements appurtenant to any parcel, unit or lot which is all or part of the Premises; and, ALL the foregoing encumbered by this Mortgage being collectively referred to herein as the \"Premises\"; TO HAVE AND TO HOLD the Premises hereby granted to the use, benefit and behalf of the Mortgagee, forever. EQUITY OF REDEMPTION Conditioned, however, that if Mortgagor shall promptly pay or cause to be paid to Mortgagee, at its address listed in the Note, or at such other place which may hereafter be designated by Mortgagee, its or their successors or assigns, with interest, the principal sum of [AMOUNT] with final maturity, if not sooner paid, as stated in said Note unless amended or extended according to the terms of the Note executed by Mortgagor and payable to the order of Mortgagee, then these presents shall cease and be void, otherwise these presents shall remain in full force and effect. COVENANTS OF MORTGAGOR Mortgagor covenants and agrees with Mortgagee as follows: Secured Indebtedness: This Mortgage is given as security for the Note and also as security for any and all other sums, indebtedness, obligations and liabilities of any and every kind arising, under the Note or this Mortgage, as amended or modified or supplemented from time to time, and any and all renewals, modifications or extensions of any or all of the foregoing (all of which are collectively referred to herein as the \"Secured Indebtedness\"), the entire Secured Indebtedness being equally secured with and having the same priority as any amounts owed at the date hereof. Performance of Note, Mortgage: Mortgagor shall perform, observe and comply with all provisions hereof and of the Note and shall promptly pay, in lawful money of [COUNTRY], to Mortgagee the Secured Indebtedness with interest thereon as provided in the Note, this Mortgage and all other documents constituting the Secured Indebtedness. Extent Of Payment Other Than Principal And Interest: Mortgagor shall pay, when due and payable, (1) all taxes, assessments, general or special, and other charges levied on, or assessed, placed or made against the Premises, this instrument or the Secured Indebtedness or any interest of the Mortgagee in the Premises or the obligations secured hereby; (2) premiums on policies of fire and other hazard insurance covering the Premises, as required herein; (3) ground rents or other lease rentals; and (4) other sums related to the Premises or the indebtedness secured hereby, if any, payable by Mortgagor. Insurance: Mortgagor shall, at its sole cost and expense, keep the Premises insured against all hazards as is customary and reasonable for properties of similar type and nature located in [CITY, STATE/PROVINCE]. Care of Property: Mortgagor shall maintain the Premises in good condition and repair and shall not commit or suffer any material waste to the Premises. ","Mortgage","4",50,"https://templates.business-in-a-box.com/imgs/1000px/mortgage-D1183.png","https://templates.business-in-a-box.com/imgs/250px/1183.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#1183.xml",{"title":6,"description":6},[148,151],{"label":149,"url":150},"Real Estate","real-estate-business",{"label":152,"url":153},"Business Checklists","business-checklists","mortgage","/template/mortgage-D1183",{"description":157,"descriptionCustom":6,"label":158,"pages":109,"size":110,"extension":10,"preview":159,"thumb":160,"svgFrame":161,"seoMetadata":162,"parents":164,"keywords":163,"url":170},"PERSONAL GUARANTEE This Personal Guarantee (the \"Agreement\") is effective [DATE], BETWEEN: [FIRST PARTY NAME] (the \"Guarantor\"), an individual with his main address located at: [YOUR COMPLETE ADDRESS] AND: [YOUR COMPANY NAME] (the \"Second Party\"), a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] I, [NAME OF GUARANTOR], residing at [COMPLETE ADDRESS], hereby personally and solidarity guarantee all of the obligations of [YOUR COMPANY NAME] and agree to be bound solidarity with [YOUR COMPANY NAME] for the prompt performance of [YOUR COMPANY NAME]'s obligations under that certain [SPECIFY] Agreement dated [DATE] (the \"Agreement\") between [YOUR COMPANY NAME] and [COMPANY NAME], including without limitation the payment of all goods, wares and merchandise as [YOUR COMPANY NAME] may from time to time select and purchase on credit from [COMPANY NAME], and hereby expressly renounce to the benefits of division and discussion. Furthermore, I agree that waive may extend the time for payment of any amounts owing to it by waive and/or may waive any default by waive without it in any way lessening or limiting my liability hereunder. Notwithstanding the foregoing, my guarantee hereunder to pay any and all amounts owing by [YOUR COMPANY NAME] to [COMPANY NAME] shall be limited to the sum of [AMOUNT] OR [%] of such outstanding amount.","Personal Guarantee","https://templates.business-in-a-box.com/imgs/1000px/personal-guarantee-D405.png","https://templates.business-in-a-box.com/imgs/250px/405.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#405.xml",{"title":163,"description":6},"personal guarantee",[165,166,167],{"label":17,"url":98},{"label":20,"url":100},{"label":168,"url":169},"Guaranties & Collateral","guaranties-collateral","/template/personal-guarantee-D405",{"description":172,"descriptionCustom":6,"label":173,"pages":174,"size":175,"extension":10,"preview":176,"thumb":177,"svgFrame":178,"seoMetadata":179,"parents":180,"keywords":183,"url":184},"SECURITY AGREEMENT This Security Agreement (the \"Agreement\") is made and effective [DATE], BETWEEN: [SECURED PARTY NAME] (the \" Secured Party\"), a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [COMPLETE ADDRESS] AND: [YOUR COMPANY NAME] (the \"Debtor\"), a corporation organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] For value received, the undersigned Debtor, promises to pay to the order of [name], together with any other holder of this note (\"Secured Party\"), [amount], with interest at the rate of [%] per annum. Payment shall be made in successive equal monthly installments of [amount]. Each such Installment is payable on the [day] of each month, commencing on [date]. Recitals WHEREAS, the Secured Party has extended to the Debtor a certain loan as evidenced by a certain promissory note, in the original principal amount equal to [amount] dated on even date herewith (the \"Note\"); and WHEREAS, the Debtor wishes to grant a first priority security interest in and to all of the Debtor's tangible and intangible personal property pursuant to the terms hereof; NOW, THEREFORE, for and in consideration of the foregoing and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, and intending to be legally bound hereby, the parties hereto covenant and agree as follows: DEFINITIONS The following terms shall have the meanings herein specified unless the context otherwise requires. Such definitions shall be equally applicable to the singular and plural forms of the terms defined: \"Contracts\" shall mean all contracts between the Debtor and one or more additional parties. \"Contract Rights\" shall mean all rights of the Debtor (including, without limitation, all rights to payment) under each Contract. \"Copyrights\" shall mean any [country] copyright to which the Debtor now or hereafter has title, as well as any application for a [country] copyright hereafter made by the Debtor. \"Equipment\" shall mean any \"equipment,\" as such term is defined in the [law or code] as in effect on the date hereof in the State of [state/province], now or hereafter owned by Debtor and, in any event, shall include, but shall not be limited to, all machinery, equipment, furnishings, fixtures and vehicles now or hereafter owned by the Debtor and any and all additions, substitutions and replacements of, any of the foregoing, wherever located, together with all attachments, components, parts, equipment and accessories installed thereon or affixed thereto. \"General Intangibles\" shall have the meaning assigned that term under the [LAW OR CODE] as in effect on the date hereof in the State of [state/province]. \"Goods\" shall have the meaning assigned that term under the [LAW OR CODE] as in effect on the date hereof in the State of [state/province]. \"Inventory\" shall mean all raw materials, workinprocess, and finished inventory of the Debtor of every type or description and all documents of title covering such inventory, and shall specifically include all \"inventory\" as such term is defined in the [law or code] as in effect on the date hereof in the State of [state/province], now or hereafter owned by the Debtor. \"Marks\" shall mean any trademarks and service marks now held or hereafter acquired by the Debtor, which are registered in the [country] Patent and Trademark Office, as well as any unregistered marks used by the Debtor in the [COUNTRY] and trade dress, including logos and/or designs, in connection with which any of these registered or unregistered marks are used. \"Obligations\" shall mean: (i) all indebtedness, obligations and liabilities (including, without limitation, guarantees and other contingent liabilities) of the Debtor to the Secured Party, including but not limited to the Note; (ii) any and all sums advanced by the Secured Party in order to preserve the Collateral or preserve its security interest in the Collateral; and (iii) in the event of any proceeding for the collection or enforcement of any indebtedness, obligations or liabilities of the Debtor referred to in clause (i), after an Event of Default shall have occurred and be continuing, the reasonable expenses of retaking, holding, preparing for sale or lease, selling or otherwise disposing or realizing on the Collateral, or of any exercise by the Collateral Agent of its rights hereunder, together with reasonable attorneys' fees and court costs. \"Patents\" shall mean any [country] patent to which the Debtor now or hereafter has title, as well as any application for a [country] patent now or hereafter made by Debtor. \"Proceeds\" shall have the meaning assigned that term under the [law or code] as in effect in the State of [state/province] on the date hereof or under other relevant law and, in any event, shall include, but not be limited to, (i) any and all proceeds of any insurance, indemnity, warranty or guaranty payable to the Secured Party or the Debtor from time to time with respect to any of the Collateral, (ii) any and all payments (in any form whatsoever) made or due and payable to the Debtor from time to time in connection with any requisition, confiscation, condemnation, seizure or forfeiture of all or any part of the Collateral by any governmental authority and (iii) any and all other amounts from time to time paid or payable under or in connection with any of the Collateral. \"Receivables\" shall mean any \"account\" as such term is defined in the [law or code] as in effect on the date hereof in the State of [STATE/PROVINCE], now or hereafter owned by Debtor and, in any event, shall include, but shall not be limited to, all of the Debtor's rights to payment for goods sold or leased or services performed by the Debtor, whether now in existence or arising from time to time hereafter, including, without limitation, rights evidenced by an account, note, contract, security agreement, or other evidence of indebtedness or security, together with (i) all security pledged, assigned, hypothecated or granted to or held by the Debtor to secure the foregoing; (ii) all of the Debtor's right, title and interest in and to any goods, the sale of which gave rise thereto; (iii) all guarantees, endorsements and indemnifications on, or of, any of the foregoing; (iv) all powers of attorney for the execution of any evidence of indebtedness or security or other writing in connection therewith; (v) all books, records, ledger cards and invoices relating thereto; (vi) all evidences of the filing of financing statements and other statements and the registration of other instruments in connection therewith and amendments thereto, notices to other creditors or secured parties, and certificates from filing or other registration officers; (vii) all credit information, reports and memoranda relating thereto and (viii) all other writings related in any way to the foregoing. GRANT OF SECURITY INTEREST The Debtor does hereby grant to the Secured Party a continuing security interest of first priority in all of the right, title and interest of the Debtor in, to and under all of the following property whether now existing or hereafter created or arising: ","Security Agreement","10",96,"https://templates.business-in-a-box.com/imgs/1000px/security-agreement-D915.png","https://templates.business-in-a-box.com/imgs/250px/915.png","https://templates.business-in-a-box.com/svgs/docviewerWebApp1.html?v6#915.xml",{"title":6,"description":6},[181,182],{"label":33,"url":132},{"label":33,"url":132},"security agreement","/template/security-agreement-D915",false,{"seo":187,"reviewer":197,"quick_facts":201,"at_a_glance":203,"personas":207,"variants":228,"glossary":256,"fields":286,"how_to_fill":337,"common_mistakes":378,"faqs":395,"industries":420,"comparisons":437,"diy_vs_pro":451,"related_template_ids_curated":464,"schema":476,"classification":478},{"meta_title":188,"meta_description":189,"primary_keyword":23,"secondary_keywords":190},"Subordination Agreement Long Form Template | BIB","Free subordination agreement long form template for lenders, borrowers, and real estate transactions. Clarifies lien priority between creditors.",[191,192,193,194,195,196],"subordination agreement form","subordination agreement word template","free subordination agreement","lien subordination agreement","mortgage subordination agreement","subordination agreement download",{"name":198,"credential":199,"reviewed_date":200},"Bruno Goulet","CEO, Business in a Box","2026-05-02",{"difficulty":202,"legal_review_recommended":185,"signature_required":185},"easy",{"what_it_is":204,"when_you_need_it":205,"whats_inside":206},"A Subordination Agreement Long Form is a detailed structured document in which one creditor formally agrees that its lien or debt claim will rank behind — be subordinated to — another creditor's claim against the same borrower or property. This free Word download provides a complete long-form template you can edit online, fill in party and loan details, and export as PDF for use in real estate closings, commercial lending, or multi-lender financing arrangements.\n","Use it when a senior lender requires a junior lender or existing lienholder to formally step back in priority — typically at a refinance, new mortgage origination, or multi-creditor commercial loan closing. It is also used when a second-position lender agrees to remain subordinate so a borrower can secure more favorable first-position financing.\n","Full identification of all parties (senior lender, subordinating creditor, and borrower), a description of the senior and subordinate debt instruments, the subordination and standstill terms, representations and warranties, notice provisions, and signature and acknowledgment blocks.\n",[208,212,216,220,224],{"title":209,"use_case":210,"icon_asset_id":211},"Mortgage lenders and banks","Requiring subordination of a junior lien before funding a refinance","persona-lender",{"title":213,"use_case":214,"icon_asset_id":215},"Commercial real estate attorneys","Documenting lien priority agreements at multi-creditor loan closings","persona-attorney",{"title":217,"use_case":218,"icon_asset_id":219},"Small business owners","Satisfying a primary lender's subordination requirement on an SBA loan","persona-small-business-owner",{"title":221,"use_case":222,"icon_asset_id":223},"Private equity and mezzanine lenders","Formalizing subordination of mezzanine debt behind a senior facility","persona-investor",{"title":225,"use_case":226,"icon_asset_id":227},"Property developers","Enabling a senior construction lender to take first-position priority over existing liens","persona-contractor",[229,233,236,240,244,248,252],{"situation":230,"recommended_template":231,"slug":232},"Simple one-page subordination for a straightforward residential refinance","Subordination Agreement Short Form","license-agreement-short-form-D1027",{"situation":234,"recommended_template":7,"slug":235},"Commercial real estate multi-lender transaction with standstill provisions","subordination-agreement-long-form-D424",{"situation":237,"recommended_template":238,"slug":239},"Intercreditor arrangement between two institutional lenders","Intercreditor Agreement","non-profit-partnership-agreement-D14023",{"situation":241,"recommended_template":242,"slug":243},"Subordination of a leasehold interest to a mortgage","Subordination Non-Disturbance and Attornment Agreement (SNDA)","non-disturbance-agreement-D5213",{"situation":245,"recommended_template":246,"slug":247},"Landlord subordination of landlord lien to a business lender","Landlord Subordination Agreement","subordination-agreement-D423",{"situation":249,"recommended_template":250,"slug":251},"Subordination of shareholder or owner loans to senior bank debt","Shareholder Loan Subordination Agreement","shareholder-loan-agreement-D13239",{"situation":253,"recommended_template":254,"slug":255},"Deed of trust with priority reordering after a new senior loan","Deed of Trust","assignment-of-deed-of-trust-D975",[257,260,263,266,269,272,274,277,280,283],{"term":258,"definition":259},"Subordination","The act of a creditor agreeing that its claim or lien will rank lower in priority than another creditor's claim against the same debtor or property.",{"term":261,"definition":262},"Senior Debt","The obligation that holds first-priority claim on collateral or assets, meaning it is repaid first in the event of default or liquidation.",{"term":264,"definition":265},"Junior Debt","A debt obligation that ranks behind senior debt in repayment priority; the subordinating party typically holds junior debt.",{"term":267,"definition":268},"Lien","A legal right or claim against a property or asset used as security for a debt, which must be satisfied before the property can be transferred free and clear.",{"term":270,"definition":271},"Standstill Provision","A clause preventing the junior creditor from taking enforcement action — such as foreclosure or acceleration — against the borrower for a defined period after a default.",{"term":238,"definition":273},"A broader agreement between two or more creditors that governs their relative rights, priorities, and remedies — subordination agreements are often incorporated into or stand alongside intercreditor agreements.",{"term":275,"definition":276},"Non-Disturbance","A commitment by a senior lienholder that it will not disturb a subordinate party's rights (such as a tenant's lease) if the senior lender forecloses.",{"term":278,"definition":279},"Estoppel Certificate","A signed statement by a party confirming the current status of a loan or lease — often required alongside a subordination agreement to confirm there are no defaults or disputes.",{"term":281,"definition":282},"First Position","The lien or claim that has the highest repayment priority against a property or asset in the event of foreclosure or liquidation.",{"term":284,"definition":285},"Acceleration Clause","A loan provision allowing the lender to demand immediate repayment of the entire outstanding balance upon a specified triggering event, such as default.",[287,292,297,302,307,312,317,322,327,332],{"name":288,"plain_english":289,"sample_language":290,"common_mistake":291},"Agreement Date and Recitals","Records the date the agreement is entered into and identifies the transaction context — the existing loan, the new senior loan, and the purpose of the subordination.","This Subordination Agreement is entered into as of [DATE], by and between [SENIOR LENDER NAME] ('Senior Lender'), [SUBORDINATING CREDITOR NAME] ('Junior Creditor'), and [BORROWER NAME] ('Borrower'), with reference to the following facts: [RECITALS].","Omitting the recitals section entirely — without context, the agreement can be ambiguous about which loan instruments are being subordinated and why.",{"name":293,"plain_english":294,"sample_language":295,"common_mistake":296},"Identification of the Parties","States the full legal names, entity types, and addresses of the senior lender, the subordinating creditor, and the borrower.","[SENIOR LENDER LEGAL NAME], a [STATE] [ENTITY TYPE], with its principal office at [ADDRESS] ('Senior Lender'); [JUNIOR CREDITOR LEGAL NAME], a [STATE] [ENTITY TYPE], at [ADDRESS] ('Junior Creditor'); and [BORROWER LEGAL NAME] ('Borrower').","Using trade names or shortened names instead of full registered legal entity names, which can create enforceability issues when referencing the agreement in later proceedings.",{"name":298,"plain_english":299,"sample_language":300,"common_mistake":301},"Description of the Senior Loan","Identifies the senior debt instrument — loan amount, origination date, promissory note reference, and the collateral securing it.","Senior Lender holds a promissory note dated [DATE] in the original principal amount of $[AMOUNT], secured by a [Deed of Trust / Mortgage] recorded on [DATE] as Instrument No. [NUMBER] in [COUNTY], [STATE].","Referencing the wrong recording number or instrument date, which makes it impossible to confirm lien priority through a title search.",{"name":303,"plain_english":304,"sample_language":305,"common_mistake":306},"Description of the Junior Loan","Identifies the subordinating creditor's existing debt instrument — note amount, date, and recorded lien details.","Junior Creditor holds a promissory note dated [DATE] in the original principal amount of $[AMOUNT], secured by a [Deed of Trust / Mortgage / Security Agreement] recorded as Instrument No. [NUMBER] in [COUNTY], [STATE].","Failing to reference the existing recording instrument number for the junior lien, making the subordination difficult to verify and enforce at closing.",{"name":308,"plain_english":309,"sample_language":310,"common_mistake":311},"Subordination and Priority Agreement","The operative clause in which the junior creditor formally agrees that its lien is and shall remain subordinate in priority to the senior lender's lien.","Junior Creditor hereby subordinates and makes junior and inferior the lien, operation, and effect of the Junior Loan Documents to the lien, operation, and effect of the Senior Loan Documents, in all respects and for all purposes.","Using permissive language ('agrees to subordinate') rather than operative language ('hereby subordinates') — the distinction can affect whether the subordination is self-executing or requires additional action.",{"name":313,"plain_english":314,"sample_language":315,"common_mistake":316},"Standstill and Enforcement Restriction","Restricts the junior creditor from taking any enforcement action — foreclosure, acceleration, or collections — without giving the senior lender a defined notice and cure period.","Junior Creditor shall not, without the prior written consent of Senior Lender, accelerate, enforce, or exercise any remedies under the Junior Loan Documents until the earlier of (a) [NUMBER] days after written notice to Senior Lender, or (b) the indefeasible payment in full of the Senior Loan.","Setting the standstill period too short — a 10-day standstill is functionally useless; 60 to 180 days is standard for senior lenders to evaluate and respond.",{"name":318,"plain_english":319,"sample_language":320,"common_mistake":321},"Representations and Warranties","Statements made by each party confirming the validity of their loan documents, absence of existing defaults, and their authority to enter the agreement.","Each party represents and warrants that (a) it has full authority to execute this Agreement; (b) its loan documents are in full force and effect; and (c) no event of default exists under its respective loan documents as of the date hereof.","Omitting a no-default representation — if a default already exists, the senior lender needs to know before relying on the subordination.",{"name":323,"plain_english":324,"sample_language":325,"common_mistake":326},"Notice Provisions","Specifies how formal notices under the agreement must be delivered — mail, overnight courier, or email — and to whom at each party.","All notices shall be in writing and delivered by (a) certified mail, return receipt requested; (b) overnight courier; or (c) email with confirmation, to the addresses set forth in Section [X] or as updated by written notice.","Not including an email address alongside physical addresses — notice sent only by mail during a fast-moving default situation can delay critical communications by days.",{"name":328,"plain_english":329,"sample_language":330,"common_mistake":331},"Governing Law and Entire Agreement","States which state's law governs interpretation of the agreement and confirms it supersedes any prior discussions or side agreements between the parties.","This Agreement shall be governed by the laws of the State of [STATE]. This Agreement constitutes the entire agreement of the parties with respect to its subject matter and supersedes all prior negotiations, representations, and agreements.","Choosing a governing law that differs from the state where the collateral property is located — real property lien priority is determined by the property's state law, regardless of contract choice.",{"name":333,"plain_english":334,"sample_language":335,"common_mistake":336},"Signature and Acknowledgment Blocks","Execution blocks for all three parties — senior lender, junior creditor, and borrower — with space for notarization where required for recording.","IN WITNESS WHEREOF, the parties have executed this Subordination Agreement as of the date first written above. [SENIOR LENDER LEGAL NAME] By: ___________ Name: [NAME] Title: [TITLE] [NOTARY BLOCK IF REQUIRED]","Having only two of the three parties sign — many title companies and recorders require all three parties' signatures and notarization for the agreement to be recorded against the property.",[338,343,348,353,358,363,368,373],{"step":339,"title":340,"description":341,"tip":342},1,"Enter the agreement date and all party details","Fill in the effective date and the full legal names, entity types, and addresses of the senior lender, junior creditor, and borrower in the parties section.","Confirm each party's legal name against their formation documents or state registry — a mismatch can delay recording at the county recorder's office.",{"step":344,"title":345,"description":346,"tip":347},2,"Complete the senior loan description","Enter the senior promissory note date, original principal amount, and the exact recording reference — instrument number, recording date, and county — for the senior lien.","Pull the recording details directly from the title commitment or title report to avoid transcription errors.",{"step":349,"title":350,"description":351,"tip":352},3,"Complete the junior loan description","Enter the same details for the subordinating creditor's existing debt and lien — note amount, date, and recorded instrument reference.","If the junior lien has not yet been recorded, note that it will be recorded as of a specific date and attach the unrecorded instrument as an exhibit.",{"step":354,"title":355,"description":356,"tip":357},4,"Confirm the subordination language is operative","Review the subordination clause to ensure it uses present-tense operative language ('hereby subordinates') rather than merely agreeing to subordinate in the future.","Self-executing language reduces the risk that a subsequent dispute questions whether the subordination ever actually took effect.",{"step":359,"title":360,"description":361,"tip":362},5,"Set the standstill period","Insert the number of days the junior creditor must wait before taking enforcement action after notifying the senior lender of a default — typically 60 to 180 days.","Align the standstill period with the cure period in the senior loan documents so the senior lender has a realistic window to cure or accelerate.",{"step":364,"title":365,"description":366,"tip":367},6,"Verify representations and update notice addresses","Confirm each party's no-default representations are accurate as of the agreement date, and enter current mailing addresses and email contacts for the notice provision.","Designate a specific named contact — not just a department — for notices so they reach the right decision-maker without internal routing delays.",{"step":369,"title":370,"description":371,"tip":372},7,"Obtain signatures and notarization if required","Collect wet or electronic signatures from all three parties. If the agreement will be recorded against real property, arrange notarization for each signing party before submission to the county recorder.","Check the recording requirements for the specific county — some require original ink signatures; others accept notarized electronic signatures.",{"step":374,"title":375,"description":376,"tip":377},8,"Record the agreement and distribute executed copies","Submit the executed agreement to the appropriate county recorder's office and distribute fully executed, conformed copies to all parties and their counsel.","Request a certified copy of the recorded agreement from the recorder for each party's permanent loan file.",[379,383,387,391],{"mistake":380,"why_it_matters":381,"fix":382},"Using an incorrect lien recording reference","A wrong instrument number or recording date means the subordination cannot be tied to the correct lien in a title search, potentially making it unenforceable at foreclosure.","Verify all recording references against the current title commitment or title report before finalizing the agreement.",{"mistake":384,"why_it_matters":385,"fix":386},"Missing a third-party signature","Most county recorders and title companies require signatures from all three parties — senior lender, junior creditor, and borrower. A missing signature can prevent recording and stall a loan closing.","Circulate the agreement to all three parties simultaneously and confirm receipt and execution from each before scheduling closing.",{"mistake":388,"why_it_matters":389,"fix":390},"Setting a standstill period shorter than the senior loan's cure period","If the junior creditor can accelerate and foreclose before the senior lender has time to cure a default, the subordination provides no practical protection.","Set the standstill period at least as long as the longest cure period in the senior loan documents — typically a minimum of 60 days.",{"mistake":392,"why_it_matters":393,"fix":394},"Omitting a no-default representation from the junior creditor","If the junior loan is already in default at the time of subordination, the senior lender may be exposed to an acceleration it wasn't aware of.","Require each party to represent, as of the agreement date, that no event of default exists under their respective loan documents.",[396,399,402,405,408,411,414,417],{"question":397,"answer":398},"What is a subordination agreement?","A subordination agreement is a legal document in which one creditor — the junior or subordinating creditor — formally agrees that its lien or claim against a borrower's property will rank below another creditor's claim in repayment priority. It is most commonly used in real estate transactions when a borrower refinances a first mortgage and the holder of a second mortgage or junior lien must agree to remain in second position behind the new senior loan.\n",{"question":400,"answer":401},"When is a subordination agreement required?","A subordination agreement is typically required when a borrower refinances an existing first mortgage and the new lender wants to ensure it holds first-lien priority over any existing junior liens. It is also required in commercial real estate transactions involving multiple lenders, when a mezzanine lender must step behind a senior facility, and when an SBA lender requires existing creditors to subordinate to the SBA-guaranteed loan.\n",{"question":403,"answer":404},"What is the difference between a short-form and long-form subordination agreement?","A short-form subordination agreement is a simplified one-to-two page document used for straightforward residential refinances where the parties have an established relationship and the transaction is uncomplicated. A long-form subordination agreement includes standstill provisions, detailed representations and warranties, notice procedures, and governing law clauses — making it appropriate for commercial transactions, multi-lender arrangements, and any situation where enforcement rights need to be precisely defined.\n",{"question":406,"answer":407},"Does a subordination agreement need to be recorded?","In most real estate transactions, yes — the subordination agreement should be recorded with the county recorder's office in the jurisdiction where the property is located so that it becomes part of the public title record. Recording gives constructive notice to future creditors and purchasers of the priority arrangement. Some commercial lending arrangements keep subordination agreements unrecorded, but this creates title risk.\n",{"question":409,"answer":410},"Who are the three parties to a subordination agreement?","The three parties are the senior lender (whose lien takes first priority), the junior or subordinating creditor (whose lien steps back), and the borrower (who is the common debtor to both). All three must typically sign the agreement for it to be valid and recordable. The borrower's signature confirms consent to the priority arrangement affecting their property.\n",{"question":412,"answer":413},"What is a standstill provision and why does it matter?","A standstill provision prevents the junior creditor from accelerating the junior loan or initiating foreclosure without first giving the senior lender a defined notice and opportunity to respond — typically 60 to 180 days. Without a standstill, a junior creditor could trigger a foreclosure that disrupts the senior lender's collateral position. Standstill provisions are a core protection for senior lenders in any long-form subordination agreement.\n",{"question":415,"answer":416},"Can a subordination agreement be used for non-real-estate debt?","Yes. Subordination agreements are also used in commercial lending to subordinate shareholder or owner loans to bank debt, to arrange priority between mezzanine and senior lenders in corporate financings, and to establish priority among creditors holding security interests in business assets under the UCC. The long-form template is adaptable to these contexts by adjusting the collateral description and governing provisions.\n",{"question":418,"answer":419},"Is legal review recommended for a subordination agreement?","For straightforward residential refinance situations where the form is provided by a title company or lender and the parties are following standard market terms, the template can be completed without a lawyer. For commercial transactions, multi-lender arrangements, or any situation where the standstill and enforcement provisions are being negotiated, having counsel review the agreement before execution is advisable given the potential consequences of a priority dispute.\n",[421,425,429,433],{"industry":422,"icon_asset_id":423,"specifics":424},"Commercial Real Estate","industry-real-estate","Used at every multi-lender closing to establish recorded lien priority between construction lenders, permanent lenders, and mezzanine facilities.",{"industry":426,"icon_asset_id":427,"specifics":428},"Banking and Mortgage Lending","industry-fintech","Required by first-mortgage lenders at refinance closings where existing second mortgages, HELOCs, or judgment liens must be formally subordinated.",{"industry":430,"icon_asset_id":431,"specifics":432},"Private Equity and Alternative Lending","industry-investor","Mezzanine and subordinated debt providers execute subordination agreements as part of the intercreditor framework on leveraged buyout and recapitalization transactions.",{"industry":434,"icon_asset_id":435,"specifics":436},"Small Business and SBA Lending","industry-small-business","SBA lenders routinely require existing creditors — including seller-carry lenders and equipment lienholders — to subordinate to the SBA-guaranteed first-lien position.",[438,441,444,448],{"vs":231,"vs_template_id":439,"summary":440},"D{SUBORDINATION_SHORT_FORM_ID}","A short-form subordination agreement is a condensed one-to-two page document suitable for routine residential refinances where all parties agree on standard terms. The long form adds standstill provisions, representations and warranties, notice procedures, and governing law clauses — making it appropriate for commercial transactions and any situation where enforcement rights require precise documentation.",{"vs":238,"vs_template_id":442,"summary":443},"D{INTERCREDITOR_AGREEMENT_ID}","An intercreditor agreement is a comprehensive document governing all aspects of the relationship between two or more creditors — payment waterfalls, voting rights, and enforcement coordination — in addition to priority. A subordination agreement addresses priority only. Intercreditor agreements are used in complex multi-lender corporate financings; subordination agreements are standard in real estate and simpler lending arrangements.",{"vs":445,"vs_template_id":446,"summary":447},"SNDA Agreement","D{SNDA_AGREEMENT_ID}","A Subordination, Non-Disturbance and Attornment (SNDA) agreement subordinates a tenant's lease to a lender's mortgage while also protecting the tenant's right to remain in possession if the lender forecloses. A standard subordination agreement does not include non-disturbance or attornment provisions and is used between creditors — not between a lender and a tenant.",{"vs":254,"vs_template_id":449,"summary":450},"D{DEED_OF_TRUST_ID}","A deed of trust is the security instrument that creates the lien against the property in favor of the lender. A subordination agreement does not create a new lien — it reorders the priority of existing liens. Both documents may need to be recorded, but they serve fundamentally different functions in a secured lending transaction.",{"use_template":452,"template_plus_review":456,"custom_drafted":460},{"best_for":453,"cost":454,"time":455},"Straightforward subordination requests between familiar parties following standard lender-prescribed terms","Free","15–30 minutes",{"best_for":457,"cost":458,"time":459},"Commercial real estate closings, multi-lender arrangements, or transactions with negotiated standstill terms","$300–$800 for attorney review","1–3 days",{"best_for":461,"cost":462,"time":463},"Complex intercreditor arrangements, large leveraged transactions, or jurisdictions with unusual recording requirements","$1,500–$5,000+","1–2 weeks",[465,466,255,467,468,469,470,471,472,473,474,475],"promissory-note-D434","loan-agreement-D417","mortgage-D1183","personal-guarantee-D405","security-agreement-D915","release-of-lien-D12665","offer-to-purchase-real-estate-property-D1190","lease-agreement-D1179","real-estate-purchase-agreement-D13234","assignment-of-mortgage-D1156","demand-letter-D13262",{"emit_how_to":477,"emit_defined_term":477},true,{"primary_folder":132,"secondary_folder":479,"document_type":480,"industry":481,"business_stage":482,"tags":483,"confidence":489},"loans-and-promissory-notes","agreement","general","all-stages",[484,485,486,487,488],"real-estate","subordination-agreement","lending","lien","multi-lender-financing",0.95,"\u003Ch2>What is a Subordination Agreement Long Form?\u003C/h2>\n\u003Cp>A \u003Cstrong>Subordination Agreement Long Form\u003C/strong> is a detailed legal document in which one creditor — the junior or subordinating creditor — formally agrees that its lien or debt claim against a borrower or property will rank below another creditor's claim in repayment priority. Unlike a short-form version, the long form includes standstill provisions, representations and warranties from all parties, notice procedures, and governing law clauses that precisely define each creditor's enforcement rights. It is used in real estate transactions, commercial lending, and multi-creditor financing arrangements wherever the priority of competing liens must be documented with enough specificity to withstand a dispute or foreclosure proceeding.\u003C/p>\n\u003Ch2>Why You Need This Document\u003C/h2>\n\u003Cp>Without a recorded subordination agreement, lien priority defaults to the order of recording — meaning a lender extending new first-position financing cannot be certain its security interest will be treated as senior unless the existing junior lienholder formally steps back in writing. For senior lenders, the absence of this document creates title risk that can prevent closing or trigger a title insurance exception. For junior creditors, an unsigned agreement leaves their enforcement rights undefined relative to the senior lender, creating uncertainty about when and how they can act if the borrower defaults. This long-form template captures all three parties' obligations in a single, recordable document — giving every party a clear, enforceable record of priority and standstill rights from the moment it is executed.\u003C/p>\n",1778773570608]