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Subordinated Debt
Practical Law Glossary Item 7-382-3850 (Approx. 2 pages)
Glossary
Subordinated Debt
Also known as subordinated notes. Junior debt that ranks behind senior debt and is repayable in bankruptcy proceedings after other senior debt has been paid.
For more information, see Practice Note, Subordination: Overview and Standard Clauses, Subordination Clauses.