• In a long-term debt agreement, the stipulation that all subsequent or less important creditors agree to wait until all claims of the senior debt are satisfied before having their claims satisfied.

 Embedded terms in definition
Senior debt
 Related Terms
 Subordination clause

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Beware of fraud originating in phone messages and faxes: FDIC Consumer News has warned before about crooks who call or e-mail consumers and pretend to be legitimate companies or government agencies wanting people to "verify" or "resubmit" (divulge) confidential information such as bank account or credit card numbers as well as Social Security numbers, passwords and personal identification numbers. Here are variations to know about. More...

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