Products tagged with 'subordination agreement'
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Alberta Purchaser's Consent to Postponement of Caveat
Prepare a Purchaser's Acknowledgement and Consent to Postponement of Caveat with this template form for Alberta.
- The purchaser of a real estate property consents to the postponement of its Purchaser's Caveat to a mortgage, meaning that the mortgage will take priority over the caveat.
- This consent will extend to all advances under the mortgage, any amendment to the mortgage, and to any new mortgage registered by the mortgage lender (mortgagee).
- The purchaser also releases and indemnifies the lawyers acting on behalf of the mortgagee and covenants not to sue them with respect to the postponement.
- This consent is given as an inducement to get the mortgage lender to advance the mortgage loan, which the purchaser requires in order to buy the property.
- The form is available in MS Word format.
- Intended for use only in the Province of Alberta, Canada.
$6.29
Subordination Agreement
Get an existing creditor to allow a new lender's security to take priority under this short-form Subordination Agreement.
- The secured creditor agrees to subordinate its security interest in a borrower's personal property (inventory, equipment, accounts, book debts) to the new lender's security interest.
- The Agreement is being signed as an inducement for the new lender to provide loan financing or credit facilities to the borrower.
- This is a generic legal form which can be used in many countries.
- Available as a downloadable MS Word document.
$6.29
Subordination Agreement (long form)
Prepare a Subordination Agreement between two lenders with this long form template.
- The purpose of the Subordination Agreement (also called a Postponement Agreement) is to induce a new lender to extend a loan to a borrower.
- One lender (postponing creditor) agrees to subordinate and postpone its security interest under a loan agreement or similar instrument to the interest of a second lender (senior creditor) until the indebtedness owing to the senior creditor has been satisfied.
- If the borrower's assets are distributed among its creditors, the indebtedness owing to the senior creditor would be paid out first, before distribution to any other creditors.
- If the borrower is not in default under its obligations to the senior creditor, it may continue to make payments to the postponing creditor in accordance with the terms of the agreement.
- If the borrower is in default under its obligations to the senior creditor, no payments on the subordinated indebtedness shall be made by the borrower. If the postponing creditor receives any such payments, it must pay them over to the senior creditor.
- This generic Subordination Agreement is provided in MS Word and is fully editable to meet your needs.
$17.99
New York Subordination of Mortgage Agreement
Prepare a Subordination of Mortgage Agreement with this template form for New York lenders.
- Under the Subordination Agreement, the holder of a first mortgage on a property (the original lender) agrees to allow its mortgage to be subordinated to a new mortgage being placed on the property.
- The new mortgage will become the first charge.
- The purpose of the agreement is to induce the new lender to approve the new mortgage.
- Available in MS Word format and fully editable.
- Intended to be used only in the State of New York.
$9.99
