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.]


专业法律词汇 词条贡献者
法律翻译Frank,毕业于英国一流的高级翻译学院,专注翻译各类与娱乐、体育及媒体有关的法律文件。
Scroll to Top