19 Apr 2022
Back to Basics: Introduction to Intercreditor Agreements
Before negotiating with counsel when drafting an intercreditor agreement, make sure you are up to speed on the respective rights, liabilities, and obligations of multiple creditors with respect to each other, the borrower, and the collateral.
Related Content
- Intercreditor Agreements Resource Kit
Review this resource kit for your one-stop shop for all things “intercreditor.”
- Split Collateral Matters: Defining “Priority Collateral”
Check out this practice note for an overview of a split collateral structure in intercreditor agreements.
- Lien Subordination versus Debt Subordination
Read this practice note to understand the distinction between (1) debt subordination, where the debt owing to one creditor is subordinated in right of payment to the debt owing to the other creditor, and (2) lien subordination, where each of the creditors is secured and the lien of one creditor has priority over the lien of the other creditor in the same assets of the borrower.
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