subordination

subordination, n.

1. The act or an instance of moving something (such as a right or claim) to a lower rank, class, or position (subordination of a first lien to a second lien). [Cases: Secured Transactions 147. C.J.S. Secured Transactions § 108.]

2. Parliamentary law. The status and relation of a lower-ranking governing document to a higher-ranking one. • A higher-ranking document supersedes and controls a subordinate document if there is any inconsistency between them. See governing document under DOCUMENT. — subordinate, adj.


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译者Wendy,欧洲知名商学院国际金融专业,擅长翻译各种与私募基金相关的法律文件。
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