Free Legal Forms
| Subordination Agreement |
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___________________________, referred to as SECURED PARTY, ___________________________, referred to as DEBTOR, and ___________________________, referred to as SENIOR CREDITOR, agree: SECURED PARTY presently holds a security interest in the following property of the DEBTOR: _______________________________________________________ SECURED PARTY hereby agrees that its security interest in the above described goods shall be subordinated to, and of lesser dignity than the claim of SENIOR CREDITOR, provided however, that the total amount of such subordination shall not exceed $ ______ (_____________________ &___/100 dollars). The parties hereto agree to execute and instruments reasonably requested by SECURED PARTY. Dated: _____________________ ____________________________________ Secured Party ____________________________________ Debtor |
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