Subordination Agreement

• The Agreement is between the lender, the borrower, and a tenant who has leased all or part of the mortgaged premises.
• The tenant agrees to subordinate the lease and its leasehold rights to the lender's lien in connection with the mortgage loan.
• If the lender forecloses on the property, the lender agrees not to disturb the tenant's use of the leased premises so long as the tenant is not in default under the lease.
• If the property is foreclosed and sold, the tenant agrees to attorn to the purchaser as the landlord under the lease.

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.

Subordinate the security interest of an existing lender to a new lender under the terms of this Postponement Agreement for Canadian provinces with PPSA legislation.

• The parties to the Agreement are (i) a borrower, (ii) the borrower's new lender, and (iii) a previous lender who is still owed money by the borrower.
• The first lender agrees to postpone its security to the new lender's security, notwithstanding that the previous lender is a secured creditor.
• The purpose of the Agreement is to induce the new lender to provide the borrower with loan financing, a line of credit, or other type of borrowing arrangement.
• This legal contract is available in MS Word format and is easy to download and use.
• The Postponement Agreement can be used in any province or territory in Canada which has a Personal Property Security Act.

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.