Intercreditor Agreement (Secured Debt)
Publisher one
Genie AIJurisdiction
England and WalesType of legal document
💼 Intercreditor deedBusiness activity
Intercreditor DeedAn Intercreditor Agreement (Secured Debt) under UK law is a legal template specifically designed to outline the rights and responsibilities between different lenders who have provided secured debt to a borrower. In a secured lending arrangement, the borrower pledges collateral (such as property, assets, or shares) as security for the loan. This agreement establishes the hierarchy of creditors' claims in case of borrower default or insolvency.
This legally binding contract addresses the relationship and coordination between senior and junior secured lenders. It governs the enforcement of security rights, allocation of recovery proceeds, and outlines the steps to be taken in various scenarios, including loan default, bankruptcy, or restructuring. The document typically covers important aspects like restrictions on additional borrowing by the borrower, subordination of junior debt to senior debt, procedures for the release or substitution of collateral, and mechanisms for communication and decision-making among all lenders.
An Intercreditor Agreement aims to protect the rights and interests of both senior and junior lenders involved in a secured debt transaction while providing a coherent framework for preserving the value of the collateral and maximizing recovery in case of borrower default. This template is commonly used in various commercial contexts, such as project finance, real estate financing, leveraged buyouts, or corporate debt restructuring, where multiple lenders are involved and want clarity on their respective rights and priorities.
This legally binding contract addresses the relationship and coordination between senior and junior secured lenders. It governs the enforcement of security rights, allocation of recovery proceeds, and outlines the steps to be taken in various scenarios, including loan default, bankruptcy, or restructuring. The document typically covers important aspects like restrictions on additional borrowing by the borrower, subordination of junior debt to senior debt, procedures for the release or substitution of collateral, and mechanisms for communication and decision-making among all lenders.
An Intercreditor Agreement aims to protect the rights and interests of both senior and junior lenders involved in a secured debt transaction while providing a coherent framework for preserving the value of the collateral and maximizing recovery in case of borrower default. This template is commonly used in various commercial contexts, such as project finance, real estate financing, leveraged buyouts, or corporate debt restructuring, where multiple lenders are involved and want clarity on their respective rights and priorities.
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