Subordination Agreement - Except Inventory - Short Form

This Subordination Agreement is between a debtor, original creditor and a new creditor who has agreed to provide a loan to the debtor. In this agreement the original creditor agrees to subordinate all security interest to the new creditor except security in debtor's inventory which is pledged to original creditor. This agreement sets out the names of all parties and the amount and date of the loan. It also sets out the exclusion of inventory which is secured by the original loan. (continued ...)