Romanian translation: contract de subordonare a creditorului
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Bogdan Burghelea Romania Local time: 04:50 Specializes in field Native speaker of: Romanian, German PRO pts in category: 132
9 hrs confidence:
contract de solidaritate activa cu stabilirea ierarhiei creditorilor
Domaine(s) : - law
clause de subordination n. f.
1. Establishment of priority of one claim or debt over another. A subordination agreement is one in which a creditor agrees in a contract that claims of other creditors must be fully paid before there is any payment to the subordinated creditor.
A subordination agreement is a contract whereby a creditor agrees that the claims of specified senior creditors must be paid in full before any payment on a subordinate debt can be paid to the subordinate creditor.