subordination clause

subordination clause.

1. In a governing document, a clause that explicitly subjects its provisions to those in a higher-ranking document.

2. A covenant in a junior mortgage enabling the first lien to keep its priority in case of renewal or refinancing. [Cases: Mortgages 159. C.J.S. Mortgages §§ 204, 207, 213, 215.]


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双语律师蓉婧,国内知名法学院民商法专业,擅长翻译各类与数据隐私及安全相关的法律文件。
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