Subordination Agreement - Short Form

This Subordination Agreement (Short Form) is between a debtor and two of its creditors wherein one (the original creditor) agrees to subordinate its security to another creditor (new creditor) who agrees to provide a loan to the debtor. This agreement sets out the names of the debtor and the creditors, amount of new loan and the date of the new loan agreement. It also sets forth the agreement that original creditor will subordinate its interests in favor of the new creditor. It is imperative that this agreement be memorialized in writing. (continued ...)