Your Business Pak/BusinessPak2.iso/Pca/_SETUP.1/20137.BLD

Text File | 1997-07-22 | 2KB | 66 lines

#100
@001 Enter the name of the CREDITOR:
~Enter the name of the creditor who is agreeing to subordinate
~his debt.
@099 Enter the name of the DEBTOR:
~Enter the name of the DEBTOR (person who owes the funds to the
~creditor).
@100 Enter a general description of the collateral:
~Enter a brief description of the collateral which is the subject
~of this agreement.
!101 Enter the present outstanding balance of the debt:
~Enter, in dollar format, the sum outstanding from the debtor to
~the creditor.
@102 Enter consideration for the subordination:
~Enter a description of consideration for subordination. If there
~is nominal consideration enter $20 or some other value.
@103 Enter the party who will receive priority:
~Enter the name of the party which will take priority of over the
~lien of the creditor.
@104 State precisely what collateral is subject to agreement:
~Identify the specific items which are currently pledged, or,
~if this is lengthy, refer to an exhibit.
#end control section
#100



SUBORDINATION AGREEMENT OF SECURED DEBT


@001, referred to as SECURED PARTY, is the holder of a security
agreement in the following collateral of @099, DEBTOR:


@100


with a present outstanding balance of $ @101 (!101 dollars),
inclusive of principal and interest and in consideration of @102,
hereby agrees that said security or mortgage interest shall be
subordinate to the security interest, mortgage or lien of @103,
in the following collateral of the security agreement:

@104


SECURED PARTY agrees to execute any and all documents reasonably
requested by @103.





_________________________________

Secured Party


Assented to:



_________________________________

Debtor